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Bloomberg Ethiopia began generating electricity from its giant hydropower dam on a Nile River tributary, a project it sees as key to its economic development but that has stirred tensions with downstream neighbours. The Grand Ethiopian Renaissance Dam (GERD) can now start the first phase of generation, authorities said at a ceremony attended by Prime Minister Abiy Ahmed in Guba, …

  Bloomberg Japan’s biggest steelmaker is calling on Tokyo to provide at least 2 trillion yen ($17.3 billion) in subsidies over almost three decades to meet net-zero carbon targets, as it seeks to stay competitive against China and other global rivals. Nippon Steel needs the money to vie on an “equal footing,” according to Hideo Suzuki, the managing executive officer …

  Bloomberg SSE Plc is set to earn a windfall from the gas-fired power plants it will ensure are available to help keep UK lights on next winter. The utility could make as much as 172 million pounds ($233 million) in an auction that cleared at 75-70 pounds a kilowatt per year, according to calculations using National Grid Plc data. …

  Bloomberg ConocoPhillips, one of North America’s largest energy explorers, is considering a sale of operations worth more than $1 billion in the Permian Basin, according to people with knowledge of the matter. The company is working with an adviser to run an auction process for the assets, said the people, who asked not to be identified because they weren’t …

  Bloomberg India, the world’s third-biggest energy consumer and a top grower of grains and sugar, targets to end the use of diesel in the farming sector in less than three years. The nation will focus on renewable fuels to achieve its aim of zero diesel use in agriculture by 2024, according to a government statement. India is working toward …

  Bloomberg Auxin Solar Inc is asking the US Commerce Department to investigate possible efforts to circumvent tariffs with the imports of equipment from Malaysia, Thailand, Vietnam and Cambodia. The company alleges the solar imports use parts or components from China, and that producers are assembling equipment in the Southeast Asian nations as a way of skirting duties, according to …

  Bloomberg European electricity prices jumped after the region’s biggest producer cut its nuclear output target for a second time in a month, the latest sign that this winter’s energy crisis is far from over. Electricite de France SA said its nuclear production could fall this year to levels not seen since 1990, and Morgan Stanley says there’s a “meaningful …

  Bloomberg European power prices extended last week’s drop, tracking natural gas futures lower as Russian supplies of the fuel are increasing. German and French electricity for March slid about 7% each on Monday on the European Energy Exchange AG, adding weight to the notion that the market has moved beyond the worst of the energy crisis. Traders are keeping …

  Bloomberg UK house prices rise at the slowest pace in more than six months in January after a bumper end to 2021 left the average value of a home at a record high. Prices rise just 0.3% following four months of gains above 1%, mortgage lender Halifax said on Monday. In a sign of a more normal market, the …

  Bloomberg Companies are defending Britain’s net-zero plans as the best way to resolve the energy crisis in the long term, after a report that close advisers to the prime minister are warning that a rethink of the policy is needed. Chief executives of SSE Plc and the UK arm of Siemens AG said that a faster pivot toward renewables …