The British energy regulator Ofgem will continue to develop detailed proposals on a mandatory power auction "ahead of the autumn" with the aim of increasing market liquidity, Ofgem said in a liquidity update letter.
Improved energy efficiency measures could reduce the anticipated UK power demand for 2030 by up to 40%, an initial Electricity Demand Reduction Assessment by the British government finds.
General Electric (GE) has won a contract from SOMA Group, a Cambodian industrial conglomerate, to supply GE Waukesha technology to power the country's first integrated biomass gasification-gas engine project. The plant is slated to start commercial service in March 2013, GE said.
Swedish utility Vattenfall has selected a site to build a new 400 MW gas-fired power plant in Hamburg. A site at Wedel was chosen as the preferred location over an alternative site in Stellinger Moor.
Alstom Thermal Power has signed a contract worth over €100 million (US$12 million) with Arabian Bemco Contracting Co. & GS E&C to provide the steam tail for the Riyadh PP12 gas-fired power plant being constructed by them for the Saudi Electric Company (SEC).
EPEX SPOT and EEX, the French and German partner bourses, are calling for a Europe-wide instead of a national design of future power markets with a view to incentivise investment and accommodate the growing share of renewable.
Centrica's North American subsidiary, Direct Energy, has agreed to buy two New York-based power retailer Energetix and NYSEG Solutions for US$110 million (£71 million) in cash, plus additional working capital.
MCV Holding applied today to the Michigan Department of Environmental Quality (MDEQ) for an air permit to install of a 640 MW combined-cycle natural-gas-fired power plant (CCPP) at a MCV-owned site in Midland, Michigan. The company currently owns and operates a 1,630 MW CCPP at the site.
French investment bank Société Générale has revised down its gas and electricity forecast for the financial year 2012, prompted by a 2.7% year-on-year drop in gas demand in the first half of this year.
Duro Felguera, a Spanish engineering and construction company, has won a contract to realise the gas-fired Vuelta de Obligado power plant project (800 MW) in Argentina in cooperation with GE and the local engineering firm Fainser, on a turnkey contract basis.
Japanese Marubeni Corporation has won a contract to carry out a gas turbine overhaul for the Ywama combined cycle power plant (CCPP) in Myanmar from Myanma Electric Power Enterprise (MEPE). Hitachi will supply the parts needed for the overhaul works.
Bharat Heavy Electricals Ltd (BHEL) has commissioned the third 250 MW gas turbine at the 1,500 MW Pragati-III Combined Cycle Power Plant (CCPP) in Delhi, India. "The full load operation of the unit has been achieved within a day of unit getting synchronized," BHEL said.
GDF SUEZ subsidiary International Power, in association with consortium partners, has been selected as preferred bidder for the combined heat and power plant CHP5 in Ulaanbaatar, the capital of Mongolia.
Natural gas prices as delivered to power plants in the U.S. plunged to a ten-year low in April, allowing gas to reach parity with coal in net electric power generation for the first time since the Energy Information Administration (EIA) began collecting data.
Gazprom has entered negotiations with E.ON on a special pricing mechanism for gas used for power generation, which prompted Societe Generale to forecast that the majority of gas in Europe will not be priced under an oil-linked formula as of 2014e.