Category: News & Announcement

Alexander Novak told his Saudi Arabian counterpart Prince Abdulaziz bin Salman that Russia was unwilling to cut oil production further. The Kremlin had decided that propping up prices as the coronavirus ravaged energy demand would be a gift to the U.S. shale industry. The frackers had added millions of barrels of oil to the global market while Russian companies kept wells idle. Now it was time to squeeze the Americans. After five hours of polite but fruitless negotiation, in which Russia clearly laid out its strategy, the talks broke down.…

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The U.S. power sector’s rush to build out natural gas capacity risks far more than locking in emissions that would bust the Paris climate targets – it also poses tens of billions in financial risk to utility investors. Once commonly considered a “bridge fuel,” electric utilities now must face the mathematical reality that fast-falling clean energy costs mean the bridge only leads to climate breakdown and the destruction of shareholder value. A new report from Energy Innovation and shareholder advocacy group As You Sow outlines these evolving risks for shareholders, strategies for investors to accelerate decarbonization, and policies…

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The latest and 54th edition of the Renewable Energy Country Attractiveness Index (RECAI) report ranks 40 countries on the attractiveness of their renewable energy investment and deployment opportunities. EY teams’ index rankings give you access to the latest country movements at a glance. The index was recalibrated in October 2019, with all underlying datasets fully refreshed.  Matching capital with capacity in the low-carbon transition. Putting a cost on the low-carbon transition is enormously challenging, and open to enormous dispute. Earlier this year, then-UK Chancellor Philip Hammond estimated the cost to the UK…

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ISLAMABAD: Honest power consumers have paid Rs400 billion to independent power producers (IPPs) during the current Pakistan Tehreek-e-Insaf (PTI) government’s tenure despite no addition of electricity to the national grid, blamed on faulty agreements inked by the previous government. According to government officials, the PTI administration has increased power tariff by Rs5.32 per unit to clear the backlog left by the previous Pakistan Muslim League-Nawaz (PML-N) government. As per agreements signed with the IPPs, consumers are required to pay capacity charges to the power plants if they remain idle and the…

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General Electric (GE) has for the first time achieved blackstart of a GE heavy-duty gas turbine using battery energy storage. The company announced on Feb. 26 it completed black start of a GE 7F.03 gas turbine at a 150-MW simple-cycle unit at Entergy Louisiana’s Perryville Power Station using a 7.4-MW battery-based energy storage system. The unit in Ouachita, Louisiana, began operation in 2001. GE told POWER on March 5 that the project uses  lithium-manganese-cobalt-oxide (or NMC) batteries, and it produces 7.4 MWh (DC) as embedded energy and 6.6 MWh (AC) as usable energy at the point…

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