Bloomberg K power firm Drax Group Plc agreed to pay a £6.1 million ($7.5 million) fine for breaching its license, after charging the grid operator excessive prices to reduce its generation. The penalty comes as regulator Ofgem reviews the rules for Britain’s balancing market, where the grid fine-tunes electricity supply and demand. Ofgem is looking to reduce record balancing ...

Bloomberg Eskom Holdings SOC Ltd., South Africa’s indebted power utility, failed to get approval from the nation’s energy regulator to increase tariffs by about a third, an amount it said was needed to help limit worsening electricity outages. The utility applied for a price increase of 32% for the 2024 financial year to pay for more purchases from independent producers ...

  Bloomberg Nigeria LNG Ltd. cancelled several liquefied natural gas shipments after vandalism on pipelines from gas fields disrupted production, according to people with direct knowledge of the matter. The company declared an additional force majeure on LNG cargoes for export, and cancelled loading of at least two scheduled for January delivery from the Bonny Island facility, according to two ...