SSE, formerly known as Scottish & southern Energy, has completed the acquisition of Endesa Ireland Ltd for a total cash consideration of €308m plus an estimated €53m for working capital, the UK utility said on Tuesday. Once completed, the acquisition makes SSE the third largest generation capacity owner in Ireland's all-island Single Electricity Market (SEM) with 1,568 MW, or around 13% of installed capacity, in operation.
Gazprom is considering laying down a third 27.5 Bcm/year pipeline leg of Nord Stream as it aims to increase gas supplies to Germany, Netherlands and the UK. "Investment decision will be made in a short time," the Russian energy minister Alexander Novak said at a press conference at the Gastech conference in London today.
China, the fastest growing gas market globally, is forecast to keep growing at annual rates of around 13 percent, Anne-Sophie Corbeau, senior analyst at the International Energy Agency (IEA) said today, but she cautioned that the two-tier pricing system, with high prices paid for LNG imports and regulated low domestic gas prices, will keep hampering the growth of gas generation.
Siemens has been awarded contracts for the combined cycle conversion of two gas-fired simple cycle power plants in Argentina by Unión Temporal de Empresas (UTE), a joint venture between Isolux Ingeniería and Inversora Andina Ibérica. The upgraded plants are scheduled to achieve commercial operation in the fall of 2014.
BG Group chief executive Frank Chapman has today said US LNG exports would add flexibility to global gas market, but he cautioned that exported volumes will not big enough to change the regionalized pricing structure of global LNG markets.
UK energy and climate change secretary Edward Davey has today urged the gas industry to step up investment, singling out gas generation with carbon capture storage (CCS) as "vital" to provide backup electricity supply as generation margins are seen dropping to close to zero by 2015/16.
Gas generation is poised to play a bigger role in denting Brazil's need for peakload power supply, providing bottlenecks in the gas pipeline network get resolved in order to allow the country's power companies make full use of domestic gas reserves. Gas generation in 2011 made up 59.1 percent, or 13,220 megawatt, of Brazils 22,368 MW installed thermal capacity, according to GlobalData.
An increasing share of variable renewable energy sources in the grid requires a market push for the development and demonstration of flexible conventional power generation, says Christer Björkqvist, Managing Director of the European Turbine Network (ETN).
Britain's energy regulator Ofgem today said the projected tightening of the spare power generation margin over the next four years would step up the urgency for the upcoming energy reform (EMR) package to encourage investment.
General Electric expects a surge in demand for gas turbines in Saudi Arabia, as the government supports plans to double power generation capacity to 60 GW by 2023 as it aims to meet demand growth of about 8 percent a year.
Investment in combined heat and power (CHP) generators is on the rise in the United States, with proposed new cogeneration capacity for 2013-2016 amounting to more than 3,700 MW, latest statistics from the U.S. Energy Information Administration (EIA) show.
Siemens is profiting from South Korea's growing demand for gas-fired power plants with high power density, Thomas Hagedorn, Sales Vice-President, who is heading the front office of Siemens Energy Solutions in Singapore, told Gas to Power Journal.
The UK Government has proposed capacity payments as a way to bridge the gap for gas fired generators, but EMR market interventions as proposed have the effect for many investors of replacing market risk with political risk, says Dr. Jim Fitzgerald, Associate Partner at The Advisory House.
"While CFD FiTs could mitigate political risk for low carbon generators, many gas-fired investors consider that without CFD FiTs, they will be less able to mitigate political risk as they may historically have done for market risks," he told Gas to Power Journal.
Deutsche Bank has reduced its forecast for German base and peakload power prices again by €2-3/MWh for the 2012-2015 period, amid a 21,500 MW rise in net capacity over the forecast period and subdued electricity demand growth.
Siemens has won its fifth order for a South Korean buyer to deliver H-class turbine technology for the 415-MW combined-cycle power plant Daegu Innovation City, located about 240 km south-east of the capital Seoul. Commissioning is scheduled for late 2014.