Price-sensitive Chinese buyers are shunning spot LNG for February delivery after Beijing put a lid on domestic prices. Utility buyers in China are reluctant to pay anything above $15 per MMBtu given that they can also revert to pipeline gas, imported from Russia and Turkmenistan, or domestic supplies.
Lower fuel costs, a pandemic-related slump in demand and record renewable energy supply have pushed down German power prices substantially in 2020. At €30.47 per MWh, the average wholesale price was more than €7 below in 2019, according to the Energy Economics Institute (EWI) at the University of Cologne.
Ken Kawai, CEO of Mitsubishi Power has defined the manufacturer’s 2021 goals as accelerating hydrogen and ammonia cofiring while enhancing economics. “High expectations are held,” he said, for Mitsubishi Power to “improve its productivity” – not least because the unit accounts for 30% of MHI Group’s business.