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Spain's EU power market reform draft includes subsidies for existing plants
Spain has proposed state aid for existing power plants, but with limits to avoid market distortions, in a bid to end a stalemate over reform of the European Union's electricity market, according to a draft seen by Reuters on Wednesday.
read more... 13/07/2023
Daily (12.07.2023): Oil prices rose by over 2% on Tuesday as production cuts by OPEC+ offset worries about the global economic outlook
Oil prices rose on Tuesday as production cuts by OPEC+ and a slight decline in the value of the US dollar counterbalanced worries about the global economic situation, which included indications of reduced demand from China. Thus, WTI crude traded 2.5% higher at $74.83 a barrel, while Brent crude increased by 2.2% to settle at $79.40 a barrel.
read more... 12/07/2023
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Spain makes new proposal for EU power market reform as seeks deal
Spain has drafted a new proposal on the reform of the European Union's electricity market as it seeks to push the bloc towards an agreement in principle by the end of July, two people familiar with the matter said on Tuesday.
read more... 12/07/2023
Global energy demand to rise 23% by 2045
Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday.
read more... 12/07/2023
Construction of first UK-Germany direct power link gets underway
NeuConnect, the first direct power link between the UK and Germany, achieved a key milestone this week by signing a licence agreement with The Crown Estate.
read more... 12/07/2023