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  Bloomberg National Grid Plc agreed to sell 60% of its gas transmission business to a consortium including Macquarie Group Ltd in a deal that will value the asset at 9.6 billion pounds ($12.7 billion). The UK firm will get about 2.2 billion pounds in cash from Macquarie’s asset management arm and British Columbia Investment Management Corp (BCI), it said …

Bloomberg Germany plans to stop almost all Russian oil imports this year and broadly wean itself off the country’s gas by mid-2024, a hugely ambitious plan that poses complex logistical hurdles for Europe’s biggest economy. As Economy and Climate Minister Robert Habeck unveiled the plan, he once again made clear that Germany will not back an immediate embargo on Russian …

Bloomberg India’s renewable energy ministry has backed a demand to shield some projects from impending taxes on solar equipment imports, after generators said the added costs will slow the nation’s shift to clean energy. “We have requested Ministry of Finance to consider grandfathering of basic customs duty for projects bid out before March 9, 2021,” the renewable energy ministry said …

Bloomberg The UK government is preparing to step in and temporarily run Gazprom PJSC’s British retail supply arm as it comes under increasing pressure from companies turning their backs on Russian business over the war in Ukraine. Gazprom Marketing & Trading Retail Ltd is a prime candidate to be taken into the UK’s special administration regime if it fails, to …

Bloomberg European Union leaders may hold off on endorsing intervention in the bloc’s wholesale energy market as member states are divided on the most effective emergency options to curb soaring power and gas prices, exacerbated by Russia’s invasion of Ukraine. Instead, at a summit in Brussels, the EU heads of government may agree on immediate actions to replenish depleted natural …

  Bloomberg Electricite de France (EDF) SA kicked off a deeply discounted rights offering of more than 3.1 billion euros ($3.4 billion), a stopgap measure as the state prepares to overhaul the ailing nuclear power giant. A broader reform of the debt-laden utility is planned by President Emmanuel Macron, who said some EDF assets should be nationalised. The firm, already …

Bloomberg European natural gas prices rose as the market continues to weigh the risk of potential supply disruptions and further sanctions against Russia. The EU has so far been reluctant to ban energy flows from its top gas supplier Russia. Yet, European Commission President Ursula von der Leyen said on Twitter that the bloc and its partners “will keep up …

  Bloomberg The UK held exploratory talks with Electricite de France (EDF) SA about the possibility of keeping the West Burton A coal-fired power plant generating beyond the end of September, when it’s due to close. The talks are at a very early stage, according to a person familiar with the matter. As things stand, EDF is running down stockpiles …

  Bloomberg BP Plc is trying to block development of part of a giant wind farm in waters off England’s east coast, according to Denmark’s Orsted A/S. Both companies have secured rights to the seabed about 70 kilometres (44 miles) from the Yorkshire coast. Orsted, the world’s largest developer of offshore wind, is seeking to build a project using the …

  Bloomberg The French government is considering whether to revive an ambitious plan to nationalise debt-laden Electricite de France (EDF) SA and reorganise its business with a focus on nuclear production, people with knowledge of the matter said. The energy market chaos exacerbated by the Russian invasion of Ukraine is giving fresh impetus to France’s long-mooted push to restructure its …