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Ofgem proposes to make suppliers return £1.4bn credit balances to customers
Ofgem could call on energy suppliers to return £1.4 billion to customers in Britain under latest proposals to limit the amount of customer credit balances they can hold.
read more... 18/03/2021
Iraq, Total mull joint work on associated gas, solar power projects
Iraq and French oil major Total are in talks to jointly work on developing associated gas and solar power projects, the country's oil minister said March 17, as OPEC's second largest producer seeks to reduce dependence on Iranian energy imports needed for power generation.
read more... 18/03/2021
Daily (17.03.2021): Oil prices extended losses on Tuesday as suspension of Covid-19 vaccine in Europe raised doubts about fuel demand recovery
Crude oil prices retreated for a third consecutive day on Monday amid vaccine rollout disruption in the Eurozone as France, Germany and other European states halted the use of the AstraZeneca vaccine, raising concerns about fuel demand recovery. Moreover, rising U.S. inventories put pressure on WTI crude. Hence, Brent crude declined by 0.7% to settle at $68.39 a barrel. Meanwhile, the U.S. crude benchmark WTI fell by 0.9% to end at $64.80 a barrel.
read more... 17/03/2021
Volkswagen, Iberdrola, Enel, BP to install EV recharging stations, battery plants in Europe
Volkswagen has set up a strategic alliance with Iberdrola to expand electrification in Spain, in addition to tie-ups with Italian utility Enel and U.K. energy group BP in Europe, as well as other partners such as Ionity and Aral.
read more... 17/03/2021
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EU probes Greece’s largest power producer’s behaviour in wholesale market
The European Commission has opened a formal antitrust investigation to assess possible abusive behaviour by Public Power Corporation (PPC) in the wholesale Greek electricity sector, examining whether Greece’s largest power producer and electricity supplier distorted competition and slowed down renewable energy investment, the EU’s anti-trust chief said on March 16.
read more... 17/03/2021