Electricity generated from wind, solar, hydro and other renewable sources worldwide will surmount that from natural gas and be twice that from nuclear by 2016, the International Energy Agency (IEA) forecast its second annual Medium-Term Renewable Energy Market Report (MTRMR).
Nationwide investment in gas-fired capacity in Australia has surged 54 percent over the past decade, driven by an expanding upstream sector. Though coal still dominates the energy mix, gas is rapidly gaining market share and is forecast to account for 36 percent of power supply, up from currently 20 percent, according to projections of Australia's Bureau of Resources and Energy Economics (BREE).
Capacity auctions in the UK are due to be launched in 2014 to bring forward investment for new projects that will start operations in 2018 or 2019. However, this is "not fast enough" to avert the risk of blackouts amid tightening reserve margins, Keith Anderson, chief corporate officer at Scottish Power warned.
Getting bank loans for energy infrastructure projects in the UK is not viable in perpetuity. The government's £40 billion guarantee scheme, however, may facilitate the flow of capital, forecast John Lynch, Head of EMEA Power, Utilities and Renewables at Bank of America Merrill Lynch.
Taking steps to enter the Chinese market, Alstom has signed a long term agreement to license its GT13E2 gas turbine for manufacture, assembly and sales in China through the Harbin Turbine Corporation (HTC).
The UK Department of Energy and Climate Change (DECC) has today announced plans to exploit newfound shale gas reserves, but this may not mean cheap power. “Shale gas’s impact on price will be much less than what we have seen in the US. The roll-out is likely to be a bit slower [than in the US] due to community resistance against fracking,” Tim Yeo, Chairman of the UK Energy and Climate Select Committee said at a conference in London.
First auctions under the UK's capacity market will take place - subject to State Aid approval - in 2014, for the delivery of flexible electricity capacity from the winter of 2018-19, the government said today. The Capacity Market, along with long-term Contract for Differences (CfDs) is meant to spur infrastructure investment of up to 100 billion pounds.
Certain US states, Massachusetts and California depend on Canadian natural gas to meet generation needs, a recent Institute for Energy Research (IER) report has shown.
The first unit of one of India's mega gas-fired power plant project has taken off in the north-eastern state of Tripura, adding 363.3MW of new capacity to the system. The operator ONGC is keen to swiftly start-up the second unit so that plant can produce at full capacity of 726.6 MW before the end of the year.
The US executive's new carbon emissions rules, that will impact existing fossil-fuel power generation are seen to be "positive overall for gas-fired power and coal", said Tudor, Pickering, Holt (TPH) Energy Research. "Coal is not going to be outlawed tomorrow, a warming-up to natural gas and renewables is promoted, but this is largely rhetorical," said TPH Energy Research.
A plethora of German gas buyers are embroiled in negotiations with Statoil to obtain similar "innovative pricing conditions" for gas supply as Stadtwerke Düsseldorf, which managed to secure supplies indexed to a basket of electricity, carbon and gas prices.
US President Barak Obama has proposed an Environmental Protection Agency (EPA) regulation to start limiting carbon emissions for both new and existing fossil power plants, while installing wind and solar installations on federal land.