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Daily (03.01.2023): European spot power prices skyrocketed on Monday, amid the end of holidays and expectations of low wind power generation
Oil prices traded flat on Monday, due to ongoing concerns about demand in China and fears of a global recession. Consequently, Brent crude ended at $85.91 a barrel and WTI oil still at $80.26 a barrel.
read more... 03/01/2023
Spain adds 6.2 GW green capacity in 2022
Spain connected almost 6.2 GW of wind and solar capacity to the grid in 2022, nearly double the 3.7 GW connected in 2021, preliminary data from TSO Red Electrica showed on Monday.
read more... 03/01/2023
South Korea fines Tesla $2.2 mln for exaggerating driving range of EVs
South Korea's antitrust regulator said it would impose a 2.85 billion won ($2.2 million) fine on Tesla Inc for failing to tell its customers about the shorter driving range of its electric vehicles (EVs) in low temperatures.
read more... 03/01/2023
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Coal Demand To Remain Robust In 2023
Despite bold climate pledges from a plethora of major world powers, it seems that many are unable to break their addiction to coal, as consumption is set to hit an all-time high (once again). Several countries have launched climate strategies that include the phasing out of coal production and use over the coming decades, however with gas shortages and a long road to getting enough renewable energy operations running to meet global demand, many continue to rely on coal for power and industry. While coal use is expected to decrease in the long term, to be replaced by natural gas and renewable alternatives, demand is set to remain strong in 2023
read more... 03/01/2023
Daily (02.01.2023): European power prices fell on Friday amid surging wind generation and muted demand
Oil prices were bullish on Friday to end a volatile 2022, as Russia's war in Ukraine shook global markets, boosted global inflation, and fueled recession fears despite most economies emerging from coronavirus lockdowns. Consequently, Brent crude increased by 4.4% to $85.91 a barrel and WTI oil rose by 2.3% to $80.26 a barrel.
read more... 02/01/2023