While European power prices are will stay flat over the coming days they are likely to increase in by the end of September on colder weather conditions, the Italian bank UniCredit forecast. Gas generation remained on low levels throughout Europe, while higher profit margins and subsequently higher utilisation of power generation have supported carbon prices in recent weeks, bank research shows.
Aggreko, a leading provider of temporary power generation services, has opened its first service centre in Walvis Bay, Namibia, to meet to power demand of the country's rapidly growing mining industry. Located next to the Port of Walvis Bay, the facility is also well positioned to supply backup power generation to Namibia's shipping and fishing industries.
At current prices, "gas is too expensive a fuel for Europe", Société Générale said in a report today. The bank remains more bearish than the forward curve and recommends selling the front year NBP Summer 13 contract.
The first power plant unit has been delivered to Emirates Aluminium's (EMAL) expansion project in Al Taweelah, Abu Dhabi, U.E.A. The 1,000 MW expansion will boost the power generation capacity of the on-site plant to 3,000 MW.
Nigeria's federal government has spent about $8 billion on power intervention projects since 1999, to support the construction of 10 power plant projects with a combined capacity of 4,774 MW, James Olotu, owner of the National Integrated Power Project (NIPP), said in Lagos.
Hot-weather-driven electricity demand for air conditioning coupled with low natural gas prices has led to a 24% surge in U.S. gas demand for power generation in the period through August 15, according to the U.S. Energy Administration (EIA).
A surge in Japan's LNG imports for thermal power generation is on the cards as the party of Prime Minister Yoshihiko Noda is gearing up to adopting a zero-reliance policy on nuclear power to win voters' support in the forthcoming election.
The British government has proposed to set a cap "broadly equivalent to 1 GW" for new biomass-fired power plant capacity. Energy secretary Ed Davey said the cap will "ensure that the Renewables Obligation delivers value-for-money for the bill-payer while enabling shovel-ready projects to come forward."
RWE npower's, part of the German energy company RWE, will start-up the fifth and final unit at the 2,188-megawatt Pembroke combined cycle gas turbine (CCGT) plant before the end of this month. Final commissioning works at the Pembroke plant in Wales are being carried out cover the coming two weeks.
UK gas exports have dropped this week, after the NBP Zeebrugge spread turned towards the zero or slightly negative level at the start of September. "UK gas flows shift early towards winter flow patterns," Deutsche Bank analysts said today, commenting "last year this shift did not occur until the start of December".
Should plans of NRG Energy Inc to buy GenOn, an independent power producer (IPP) with assets in some shared markets, get regulatory approval, the deal would create the largest IPP in the United States.
GE Energy Management has announced the launch of Multilin™ Intelligent Line Monitoring System - an end-to-end overhead line monitoring solution, enabling utilities for improving the reliability and efficiency of their networks.
Mitsubishi Heavy Industries (MHI), jointly with Mitsubishi Corporation, has won a turnkey order from Mexico's Comision Federal de Electricidad (CFE) to build a 50 MW geothermal power generation plant at the Los Azufres III power station.
GE has been commissioned to supply three 9FB gas turbines for the 1,378-MW Datang Gaojing combined-cycle cogeneration power plant (CCPP) under construction in Beijing. "The project marks the first use of GE's 9FB gas turbines in China," GE said. To date, GE is the largest supplier of heavy-duty gas turbines to China with an installed capacity of 15,000 MW.
Dominion Virginia Power has filed an application to the Virginia State Corporation Commission (SCC), proposing to invest an estimated $53.4 million to convert the 227-megawatt, two-unit Bremo Power Station from using coal to natural gas as fuel to generate electricity as part of previously announced plans to close or converted some of its coal plants to run on alternative fuels.