EU carbon emission permits almost halved in value today in a record drop after the European Parliament rejected the backloading proposal that had been intended to temporarily curb the surplus of allowances. MEPs turned down the proposal by 334-315 votes, with 63 abstentions.
Hours before today's vote in the European Parliament on backloading, Société Générale analyst said they expect MEPs to adopt the proposal, in a move likely to propel up traded carbon prices in the EU ETS from current lows around 4.8€/t to closer to €6/t.
On the eve before the European Parliament's vote on backloading – a measure deemed crucial for the future of EU emissions trading - over 40 power producers and technology developers including Areva, Alstom, EDF, EnBW, E.on, GDF Suez, GE, Shell and Statkraft, have made a strong case in favour of the proposal, arguing current carbon price levels at 4-6 €/ton are "insufficient to stimulate investments in low-carbon power generation.
Clarke Energy, a distributor and service partner for GE's Gas Engine Business, has been contracted by the Nigerian medical equipment maker IMIL to build a 14MW captive combined heat and power (CHP) plant power the company's manufacturing of syringes and healthcare products for the West African Market.
Even though Malta's Delimara power station could be immediately converted from using heavy fuel oil to diesel and eventually natural gas, the government has decided to shelf such plans for about two years until the necessary gas transportation infrastructure is in place.
Power markets in South America and Mexico are currently dominated by thermal power, but analysts expect the market share of thermal power in the total energy mix will drop to 35 percent by 2020, while the share of renewable energy will "increase substantially".
Wood Group GTS has won a contract to install 15 ECOMAX systems –an automated combustion tuning technology – for an unnamed owner of a large fleet of combined-cycle power (CCPP) in the US. Twelve of the units have already been installed and the remaining three will be installed later this year, the company said.
Project sponsors in Germany seem to have shelved nineteen out of 46 larger power plant projects by leaving open commissioning dates for the proposed plants in reaction to uncertain investment climate, German energy industry association BDEW told Gas to Power Journal.
US power producers used 16 percent, or 3.5 Bcf/day, less natural gas to generate electricity in March 2013 compared to the same month of the previous year, the US Energy Information Administration (EIA) said. The lower use of gas compared with coal for power generation follows a rebound of traded wholesale gas prices at Henry Hub to $4 MMBtu by late March.
French GDF Suez will proceed with plans to mothball three power plants with a combined capacity of 1360 MW starting from May 25, it said in a market note posted on the website RTE, the French electricity transmission system operator.
Mitsubishi Heavy Industries (MHI) has entered an agreement to license its KU gas engine technologies to ZGPT Diesel Heavy Industry Co. (ZGTP), a Chinese manufacturer of stationary and marine engines as a step towards entering the Chinese market for gas-fired distributed power generation.
Stricter emissions regulations from the US Environmental Protection Agency (EPA) could make many of the country's coal-fired power plants just as expensive to run as gas-fired plants, even at much higher prices for natural gas, Lincoln F. Pratson, professor at Duke University told Gas to Power Journal, commenting on a study under his lead from Duke's Nicholas School of the Environment.
GDF Suez, Europe's biggest utility by market value, has plans to halt operations and mothball three of its four gas-fired power plants in France with a combined capacity of 1360 MW in the coming months, due to low demand and lower, the company confirmed today.
Low gas prices, state incentives, environmental regulations and the retirement of old power plants helps fuel rising investment in combined heat and power (CHP) installations in the US, according to a Department of Energy (DOE) and Environmental Protection Agency (EPA) report.
President Barrack Obama supports an initiative to expand the currently installed capacity of 82GW by another 40GW by the end of 2020.
Bavarian municipal utility Stadtwerke Rosenheim has installed a 9.5MW GE Jenbacher J920 FleXtra gas engine as the centrepiece of is newly upgraded and expanded cogeneration plant.