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50Hertz to invest €5.6bn in offshore grid connections
The electricity transmission system operator 50Hertz is to focus its investments on the grid connections of large offshore wind farms in the Baltic and North Seas.
read more... 03/03/2022
Germany steps up efforts to cut Russian energy reliance
Germany on Wednesday took more steps to diversify its energy supplies in a bid to cut dependence on key supplier Russia, announcing a 1.5 billion euro order for non-Russian liquefied natural gas (LNG) and slowing its exit from coal.
read more... 03/03/2022
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Daily (02.03.2022): Brent crude surged towards $105 a barrel on Tuesday despite IEA agreement
Oil prices surged on Tuesday with Brent crude hitting its highest level since 2014 as Russia’s invasion of Ukraine entered its seventh day. However, IEA’s decision to release 60m bbl of reserves to alleviate price hikes did little to calm markets. Hence, Brent crude soared by 4% to settle at $104.97 a barrel.
read more... 02/03/2022
Tax windfall profits of energy firms to raise money for green investments
The European Commission will propose that EU countries tax profits made from recent gas price spikes and use it to invest in renewable energy and energy-saving renovations, sources familiar with the matter told Reuters on Monday (28 February).
read more... 02/03/2022
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Italy can cope without Russian gas, explores alternatives
Italy would be able to weather a complete breakdown in gas supplies from Russia in the short-term but that would make following winters more difficult, Prime Minister Mario Draghi said on Tuesday.
read more... 02/03/2022