Lord Deighton, the UK Olympics boss and former Goldman Sachs banker, has been appointed by the government to start negotiations with France's EDF Energy on bringing new nuclear power stations to the UK. Talks are held with the aim to swiftly increase power generation capacity to avoid a supply gap.
Stricter regulations from the US Environmental Protection Agency on SO2, particulate matter, NOx and mercury could make nearly two-thirds of the country's coal-fired power plants just as expensive to run as gas-fired plants. The cost of complying with these regulations will accelerate the trend of power producers shifting from burning natural gas instead of coal, a study from Duke's Nicholas School of the Environment finds.
NRG Energy is to acquire the 560MW equivalent Gregory Cogeneration Plant in Corpus Christi, Texas after entering into a $244 million agreement with a consortium of affiliates of Atlantic Power Corporation, John Hancock Life Insurance Company and Rockland Capital. The plant has a nominal generation capacity of about 400MW and steam capacity of more than a million pounds per hour – an amount equivalent to 160MW of electrical power.
Coal-to-gas switching in power generation has led to a plunge of energy-related carbon dioxide (CO2) emissions in the United States to reach a record low in 2012, dropping to 5.3 billion metric tons of CO2 - the lowest level since 1994.
Malta's energy ministry and state utility Enemalta will invite bidders to express interest for a long-term power purchase agreement (PPA) and a gas supply agreement (GSA) on 11 April. The winning bidder of a tender process will be required to supply about 200MW of electricity from a new combined-cycle gas turbine (CCGT) power plant and corresponding LNG regas facilities.
GE is ready to invest $110 million to build a new Global Research Center in Oklahoma, creating 125 high-tech jobs with the aim of driving technological advancements in the oil and gas sector and bringing products to market faster.
Low carbons prices of around €5/ton in the EU ETS and lower than anticipated funding through the EU's NER300 program mean that there is currently no economic rationale for operators to invest in carbon capture and storage (CCS) projects. To drive commercial CCS deployment, carbon allowance would need to trade at 40€/ton or more, the European Commission's latest report on the future of CCS in Europe finds.
The rising price spread between coal and natural gas is helping coal take back market share. Coal fired generation captured nearly everything lost by renewables and natural gas, surging 21percent higher in March of 2013 compared to March 2012, according to Genscape's Generation Fuel Monitoring Service.
Smaller combined heat and power (CHP) installations are experiencing growth in many EU member states but the sector is also under pressure from the effects of the economic crisis, electricity market issues and ongoing fluctuations in the price of fuel, according to COGEN Europe's 2013 Snapshot Survey of the Cogeneration sector in Europe.
Alstom has been awarded a €125 million contract by Lake Road Generating Company, L.P. to service its 844MW gas-fired combined-cycle power plant (CCPP) located in Dayville, Connecticut. The scope of the agreement covers the plant's three Alstom GT24 gas turbines.
Siemens has received a $300 million order from Panda Power Funds for the turnkey supply of the natural gas-fired 758MW Panda Temple II Power Project in Texas. The multi-shaft combined-cycle project is due to be completed at the end of 2015 and will be able to supply the needs of about 750 000 homes. It will utilise Siemens' Flex-Plant 30 technology and is being built in consortium with Bechtel.
Fuel prices will continue to favour baseload coal-fired power generation over gas-fired generation in the UK through the summer months and beyond, according to the National Grid's Summer Outlook Report. This is despite the application of a carbon price support (CPS) of £4.94/ton on April 1 for the 2013-2014 financial year.