The complexity of proposals to establish a Feed-in Tariff with a Contract for Difference (CfD) under the UK's draft energy bill is freezing new investment. "The proposal has now arguably become unworkable," the Common's energy and climate change select committee warned today.
The price of carbon emissions allowances is set to recover this week, Société Générale forecast, suggesting the Dec 12 EUA contract is "very close to being oversold". As for gas, the bank sees more downside for prices all along the future curve.
Wainstones Energy, a subsidiary of Carlton Power, is evaluating suppliers as is close to purchase a flexible turbine for Carlton Power's 1,520MW gas-fired Trafford power plant project.
Aggreko, a UK-based interim power solutions provider, has commissioned and started power production at a 107.5 MW interim gas-fired power plant in Mozambique.
Abu Dhabi National Energy Company (TAQA) has received the requisite parliamentary approval and signing financing arrangements for the 110 MW expansion of the gas-fired Takoradi 2 power plant in Ghana. The expansion will be commissioned in 2015, operator TAQA said.
The introduction of a strategic reserve capacity is more effective and better compatible with the current energy-only market model than a capacity payment scheme, according to an Ecofys study published today on behalf to the German federal environmental ministry (UBA).
Turkey's top administrative court has suspended construction works at OMV's power plant project on farmland in the Black Sea province of Samsun.
Siemens Energy has won an order to build the 758 MW Panda Temple Power Plant in Texas, U.S., in consortium with its partner, Bechtel. The combined-cycle power plant (CCPP) is scheduled to come on line in 2014, at a time when the Texas market is predicted to be short of capacity.
Subsidies are not the right approach to encourage investment in new gas-fired power plant projects in Germany, environment minister Peter Altmaier told the business daily 'Handelsblatt' late Wednesday.
Turkey's electricity consumption saw an 11.3% year-on-year increase to 20.0 terrawatt hours (TWh) in June, data released by the Turkish statistical institute shows. The county's energy consumption almost doubled over the past ten years.
Russia's RAO Energy Systems has applied for a loan from the European Bank for Reconstruction and Development (EBRD) to build a new gas-fired combined heat and power (CHP) plant in Vladivostok.
French investment bank Societe Generale has revised down its 2013 gas price estimate as it expects a rising supply of already contracted Russian gas volumes amid tepid demand in Europe to weigh on gas prices. The bank recommends selling the NBP Summer 13 contract.
Alstom has won a contract to undertake a boiler study for Shanghai Waigaoqiao No.3 Power Generation Co, Ltd. The study will is scheduled to be completed by the end of August.
Wärtsilä, a supplier of diesel and natural gas engines, has won a contract to supply a 384 MW gas power plant to Azerbaijan's state-owned utility Azerenerji JSC. "In terms of output, the project is the largest single power plant order that Wärtsilä has received to date," the Helsinki-headquartered company said today. The order is included in Wärtsilä's second quarter 2012 order book.
Gas generating capacity in the U.S. has surged by 96% over the past twelve years period starting from 2000, as historically low gas prices increase the utilization rates of combined cycle plants at the expense of coal-fired units.