Projected natural gas prices in the US will play a key role in the decision to build new nuclear reactors beyond the currently installed capacity of 101 gigawatt (GW). In an analysis of a series of possible scenarios, the Energy Information Administration (EIA) found that the projected reliance on nuclear power in 2040 varies between 63GW and 133GW which accounts for 10 percent and 20 percent, respectively of total electricity generation.
Wärtsilä has signed a three year Operations & Maintenance (O&M) agreement with Central Termica de Ressano Garcia, owned by South Africa's Sasol New Energy and Mozambique's state utility Electricidade de Moçambique (EDM), covering the company's upcoming gas engine power plant in Ressano Garcia which is scheduled for completion by May 2014.
EDF Energy's Director of Strategy, Steve Hargreaves, has suggested that a balanced generation mix with a contribution of intermittent generation of around a 20 percent market share can help limit the cost impact of intermittency to about £10/MWh on top of the levelised cost of wind power generation.
Intermittency and remoteness of wind generation are "the two technical characteristics that impose additional costs on the rest of the UK power system," he told Gas to Power Journal.
Presenting a pessimistic outlook on electricity demand in the UK, Mike Lawn, Head of Power and Gas, Europe and North America at Bloomberg New Energy Finance has forecast demand growth will stay "close to flat up to 2030" as industrial demand is unlikely to recover to pre financial crisis levels.
Siemens Energy has won an order from Hyundai Engineering and Construction Co., to deliver two SGT5-2000E gas turbines with associated generators for the Punta del Tigre combined cycle power plant (535 MW) in Ciudad del Plata, Uruguay. The two power units are scheduled to come online in fall/winter 2015/16.
Introducing a capacity payment in the UK could make wholesale power prices fall by as much as £7/MWh, as money moves from the energy to the capacity market, forecasts Mike Wilks, Director at Pöyry Management Consulting. Though capacity mechanisms are anticipated to make remuneration for combined-cycle gas turbine power plants more stable, investors will have to take more regulatory rather than market risk.
Scottish Powers' Director of Regulation, Rupert Steele has called on the UK Department of Energy and Climate Change (DECC) policy to "maintain momentum" to deliver a workable scheme for a Capacity Mechanism and Contracts for Differences (CfDs) in 2014, though he strongly opposed a Carbon Floor Price.
The UK Government's Energy Bill which includes contracts to develop low carbon generation and market-wide capacity contracts is expected to pass through the House of Commons "within the next month or two", Tim Lord, Security of Supply Team at the Department of Energy and Climate Change (DECC) told a conference organised by Gas to Power Journal in London today.
"We expect the first capacity auction to be held in 2014 for a delivery year of 2018/19," he said.
German chancellor Angela Merkel has admitted the country's clean-energy prone needs an overhaul, including a cut in subsidies for renewables paid by consumers via the EEG levy, to ensure that state-of-the-art gas fired power plant can operate at a profit.
UK bank Standard Chartered has been appointed by Azura Power West Africa to lead the debt capital raise for a new $700 million open-cycle gas turbine power station to be built near Benin City in Nigeria's Edo State.
Germany utility E.on said Friday it entered a re-dispatch solution with grid operator TenneT to keep two of its loss-making gas-fired power plants in southern Germany operational. E.on chief executive Johannes Teyssen said on Friday that the company and co-owners N-Ergie, Mainova and HSE Darmstadt, will keep the Irsching blocks 4 and 5 operational to help guarantee security of power supply in Bavaria.
A total of 11 European companies have joined together in a project initiated by energy consulting and testing & certification company DNV KEMA to develop the concept of Power-to-Gas (P2G) in the newly established North Sea Power to Gas Platform. P2G is a method of converting surplus renewable electricity into gaseous energy carriers such as hydrogen or methane that can be stored in the natural gas grid.