Energy

  Bloomberg The UK government will probably wait until March to announce measures to help consumers facing record bills amid the nation’s worst energy crisis in decades. Chancellor Rishi Sunak is due to give an outlook for the economy and public finances in his Spring Statement on March 23. It would be “unusual” for any aid to be announced by ...

  Bloomberg In the tropical climate of China’s Yunnan province, scientists are planting a key ingredient to help strengthen the country’s position as the world leader in wind power: balsa trees. Balsa, best known as a craft material for making model airplanes, is a major component of giant blades for wind turbines. China’s $60 billion wind industry sources almost all ...

Bloomberg The price of powering Europe next month declined as more favourable weather conditions are set to increase generation of renewable energy. Rising wind-power generation has eased the pressure on near-term prices, which has filtered through to month-ahead values, according to Sabrina Kernbichler, an analyst at S&P Global Platts. German power for February falls as much as 3% to 183.49 ...

  Bloomberg European natural gas prices fell, tracking Asian contracts lower, while Russia offered little clarity on volumes it plans to send to the continent next month. Gas giant Gazprom PJSC again opted not to book any extra pipeline space to ship the fuel westward through Ukraine during a monthly auction on Monday. In addition, Russia didn’t book any capacity ...

  Bloomberg Power prices for Monday evening in the UK surged to the highest in a month as supplies are poised to drop with very little wind forecast. The contract for the hour through 6 p.m. London time jumped to $1,589 a megawatt-hour, the highest since December 16 on the N2EX exchange. At the same time, wind output is forecast ...

  Bloomberg Russia has nothing to do with the energy crisis in Europe, Deputy Prime Minister Alexander Novak said, rejecting allegations from the International Energy Agency this week that it’s holding back supplies and driving up prices of natural gas. “Neither Russia nor our main exporter Gazprom have anything to do with this,” Novak told state television, according to the ...

  Bloomberg Eskom Holdings SOC Ltd., which supplies almost all of South Africa’s power, will take two of the continent’s largest generating units offline this year for maintenance, increasing the risk of power cuts after the nation had record outages in 2021. The extended unavailability of the units with capacity of 920 megawatts each due to the “planned long outages ...

  Bloomberg French and German electricity prices jumped after Electricite de France SA revised down the production forecast for its nuclear fleet that’s vital to keep the lights on in Europe. The world’s biggest producer of nuclear power reduced its estimate by about 8% after finding defects at some reactors. It’s another blow to Europe which is already facing an ...

  Bloomberg Diesel markets are jumping everywhere, a positive indicator for oil prices more widely. In Asia, the lowest inventories in years have driven margins from making the fuel to a four-month high. Winter there is chillier than usual and demand for transport, industrial and heating fuels are getting a boost. The continent is contending with significantly less supply from ...

  Bloomberg Thyssenkrupp AG plans to hold a majority stake in its rebranded electrolysis unit after its initial public offering to tap into the growing market for green hydrogen to fight climate change. The engineering conglomerate is preparing to list its electrolysis plant business this year, renaming it Nucera, in a move that could value the unit at as much ...