Energy

  Bloomberg NTPC Ltd, India’s largest power producer, posted a 25% jump in quarterly profit as demand for electricity soared in one of the world’s fastest-growing economies. Profits increased to 41.3 billion rupees ($551 million) in the three months through December, compared with 33.2 billion rupees a year ago, the state-run company said in a stock-exchange filing. Profits surpassed an …

  Bloomberg Octopus Energy Ltd. warned record energy prices will result in a 100 million-pound ($134 million) hit to the UK power supplier’s bottom line this financial year, according to a Financial Times report. Soaring wholesale electricity and gas prices have put 25 U.K. utilities out of business in the last six months. A regulatory cap on the amounts suppliers …

  Bloomberg Japan’s coal imports are poised to jump to the highest level in at least two years as the nation’s utilities turn to the dirtiest fossil fuel as a replacement for expensive liquefied natural gas. More than 17.3 million tons of coal will be delivered to the country this month, said Edwin Toh, a dry bulk manager at energy …

  Bloomberg Natural gas prices in Europe declined as Russia’s shipments increased and weather forecasts pointed to milder temperatures in the region. Orders to send gas through Ukraine via Velke Kapusany, a major entry point in Slovakia, rose to the highest level since January 1, according to data from operator Eustream. Shipments still remain below normal. Above-average temperatures are expected …

  Bloomberg The UK plans to bulk up the amount of power capacity it has ready for next winter, beyond the amount recommended by network operator National Grid Plc. The government set the target for the 2022-23 power capacity auction 14% higher than National Grid’s recommendation, according to a letter from Business Secretary Kwasi Kwarteng. Under the system, Britain pays …

  Bloomberg The European Union’s executive arm is testing the waters to see if its trading partners, including the United States, could boost natural gas supplies to the region amid limited shipments from Russia and rising geopolitical risks, according to the bloc’s energy chief. While the EU has a robust gas infrastructure and clear procedures in case of emergencies, it …

  Bloomberg Shell Plc has identified 4 billion euros ($4.5 billion) of potential investments in France in a bid to support the country’s efforts to develop sustainable sources of energy, Le Figaro reported, citing an interview with Chief Executive Officer Ben van Beurden. Shell wants to invest in offshore wind farm projects, the creation of electric vehicle battery charging stations …

  Bloomberg An April increase to the government’s price cap on energy bills will affect more than 75% of British households, according to The Times. The number of households covered by the price limit has risen to 22 million from 15 million, the newspaper said, citing energy regulator Ofgem. Standard variable tariffs are capped at 1,277 pounds ($1,731) a year …

  Bloomberg China put a record number of solar panels on rooftops last year as growth in residential areas outpaced installations on solar farms. A total of 53 gigawatts of solar capacity was built in 2021, close to the all-time high set in 2017, with more than half coming from rooftop installations, according to the National Energy Administration (NEA). China …

  Bloomberg India’s largest electricity producer is stepping up a campaign of coal imports as the nation seeks to avoid a new power crunch. State-run NTPC Ltd. has sought about 10 million tons of overseas coal since it issued its first international tender in two years in October, according to documents posted on its website. The reversal after years of …