Electricity prices in Long Island, New York have surged to record highs of up to $850 per megawatt hour (MWh), accelerated by demand for air conditioning brought on by temperatures as high as 97 degrees. New York City exceeded its 33,939MW all-time peak in power demand, reaching 34,600MW on July 19, the US Energy Information Administration (EIA) said in its latest North-eastern Summer Electricity Market Alert.
Shale gas developments in the UK, given their projected timing and modest production volumes, "in no way changes the critical and pressing nature of UK energy policies" and won't affect gas pricing to help promote peak-load power plant projects, says Howard Rogers, Director of the Natural Gas Programme at the Oxford Institute of Energy Studies (OIES).
Reacting to a "rapid structural change in the energy sector", the German utility EnBW has decided to shut-down four fossil power plants with a combined capacity of 668MW. It will furthermore mothball steam plant RDK-4 as the plant is "hardly being utilised and is consequently unable to cover its full costs".
A bomb attack on the Sinai pipeline near the Egyptian city of El Arish has interrupted the flow of gas to the state-owned Egyptian Electricity Holding Company (EEHC), forcing it to switch from natural gas to heavy fuel oil for power generation. The pipeline blast affects gas supply to Egypt's power producers and industry, negatively impacting EEHC's profit margins, which in turn has the potential to impact export to Israel and Jordan.
US coal receiving markets like the Netherlands and China are expected use more coal for power generation. Imports of US coal around the world increased 14 percent in the first quarter of 2013, driven by low global coal prices as US power producers prefer to utilise the abundant domestic shale gas production, data from the US Energy Information Administration (EIA) shows.