Capacity payment mechanism should not only consist of a lump sum for availability but should include a premium for flexibility, says Edward Nagelhout, Market Development Analyst, Wartsila Power Plants.
ESB and 15% shareholder Carlton Power is getting close to finalise the financing for the 910-MW Carrington plant.
ESB has reportedly already signed a first deal for a £450m of senior debt, split between a 10 year and a 17 year SERV covered tranche backed by an ESB EI toll with a liability cap on termination.
ExxonMobil is adding a new cogeneration plant in Singapore as part of the expansion of its petrochemical complex in Jurong. Located on a man-made island in the south-west of Singapore, the new facility is part of an industrial and power generation hub.
GE has launched its new FlexEfficiency 60 power generation portfolio, saying the solution was "engineered to harness natural gas" while taking into account the rising market share of renewable energy.
European shale gas developments are "not yet a game changer" as natural gas produced at shale gas plays can only compete with conventional gas pricing when appropriate drilling equipment is easily available to enable economics of scale, says Mohamed Ayyad, Senior Consultant – Global Gas at Nexant.
At least 10 GW of secured available generation capacity would be needed in Germany to backup renewables, however investment in combined-cycle gas turbine (CCGTs) power plants is "highly problematic" as profit margins are low, or even negative at times, and available financing remains restrained, says Reinhold Rümler, senior advisory practise at PricewaterhouseCoopers (PwC), Germany.
Coal will not keep its current position in the power generation market, and after a few years' time gas generation will see a comeback in Europe, Alexander Antonyuk, gas and electricity market analyst at the International Energy Agency (EIA) said in London today.
To launch a capacity mechanism in Britain is the right approach to incentivise new investment for security of supply, says to Ray Tomkins, founder and director at Economic Consulting Associates.
"We have been lucky that due a combination of circumstances - such as the dash-for-gas, the investment strategy of the vertically integrated oligopoly, and more recently the recession depressing demand- that major blackouts have been avoided as private generators have 'over-invested'," he said. "This cannot be relied on in the future...
Driven by healthy economic growth, Russia’s market for diesel and gas generators (gensets) has grown by 9.7% on average in the five years between 2010 and 2015, Frost & Sullivan analysis shows.
As the EU targets 20 percent wind power generation by 2020, smart power generation based on flexible fast-starting gas combustion engines are essential to guarantee security of power supply while maintaining grid reliability. Flexibility is the key feature of Wartsila's so-called Smart Power Generation. "The 'dinosaurs', those vast old-fashioned power plants are, if not already obsolete, certainly not the answer to the variability challenges of the future....
After a summer of internal debate, the Spanish government is about to introduce a 6% tax on all forms of power generation, as well as new taxes on nuclear and large-scale hydropower plants, in an effort to reduce the country's electricity tariff deficit which stands at a staggering €24bn (£31.3bn).
The United States is likely to stay the country with the lowest cost of power production worldwide as an abundance of shale gas production will put in a ceiling at about $4/MMBtu, Andy Weissman, energy adviser at Haynes and Boone forecast.
As Germany's power grid operators are busy negotiating with power plant operators over the amount of available cold reserves, the federal network regulator Bundesnetzagentur (BNA) confirmed that Germany will need over 2,000 MW of capacity reserve to guarantee supply security in during the upcoming winter.
Alstom has entered a 12-year long-term service agreement (LTSA) with Sembcorp Cogen Pte for its "Sembcorp Cogen Power Plant" in the Sakra district of Jurong Island in Singapore.
As Singapore's power generation capacity expands, an increasing number of gas turbines are getting registered with the National Electricity Market of Singapore (NEMS). "With the latest addition the total amount of CCGT capacity registered with NEMS now stands at 7,500 MW," said a representative at Singapore's Energy Market Company (EMC), the facilitator for traded wholesale electricity markets in the city-state.