The Australian Prime Minister Malcolm Turnbull has made a political U-turn on energy, dismissing earlier instated 'clean energy targets' in favour of stipulating guarantees for reliability of power supply and emissions reductions as the two new pillars of his revised policy. Utilities will henceforth be obliged to deliver electricity at times of peak demand.
Dubai Hills Estate, a joint venture between Emaar Properties and Meraas Holding, have awarded a $45 million contract to ABB for a substation that helps feed electricity to a new integrated lifestyle project in the city. Dubai consumes over 37,000 GWh of electricity per annum – a third of which by the residential sector.
Intermittency issues of wind and solar power supply are feared to jeopardize the stability of the U.S. power grid. To remedy this issue scientist at the Massachusetts Institute of Technology (MIT) have developed an “air-breathing” battery storage that, at the cheapest, run about $100/kWh and functions only in certain locations.
Australia’s Origin Energy has agreed to sell its conventional upstream oil and gas business, called Lattice Energy, to Beach Energy for A$1.585 billion (US$1.24 billion). The divestment leaves Origin focussed its power generation assets in eastern Australia but will keep getting much of Lattice’s future east coast gas production under a long-term supply accord.
Cherat Cement has contracted Wärtsilä to supply three 34DF dual-fuel engines to power an extension of one of Cherat’s manufacturing facilities in Pakistan. The two engines, running on natural gas and heavy fuel oil (HFO), will produce a total output of approximately 29 MW.
Banks are reluctant to give Nigeria’s Egbin Power new loan facilities as the utility is burdened with substantial debt. The company has been seeking to refinance N125 billion ($352bn) it owes to the Federal Government and now wants to raise another $1.2 billion to expand the Egbin Power plant by up to 1,500 MW by 2020.
Decoupling a portion of the low-voltage grid in the Allgäu region of Germany, Siemens and its partners have implemented a self-contained microgrid using only renewable power supply. Insights from this “islanded grid” in Wildpoldsried serve as a model for the “transformation to power supply supported by prosumers.”
A tender for the procurement of LNG for 500 MW decentralized power in Indonesia will be opened by Singapore in due course. Maritime minister Luhut Pandjaitan announced the LNG cargoes will be shipped to small-scale, decentralized power plants (25-50 MW) in seven locations in close proximity to Singapore.
Excess growth in global LNG supply, notably through the ramp-up of US LNG through 2018 and into 2019, will make European gas prices “move through the coal floor [price]”. Fuel-switching in the Western European power market, according to Societe Generale, will ultimately be determined by short-term gas prices hinging at the variable cost of shipping a US LNG cargo to Europe.
Falling costs for renewables and energy storage will squeeze out gas-fired generation in South Australia as early as 2025, Wood Mackenzie and GTM Research find. By then, wind, solar and battery costs are seen decline by 15%, 25% and 50% respectively – hence they offer a “lower cost alternative” to CCGTs, which cover the bulk of South Australia’s base load power today.