Radical change in Britain’s power mix is driven by the fast fall in technology costs of renewables. By 2030, a system with wind and solar supplying 50% of the country’s electricity needs would be comparable in cost to one dominated by combined-cycle gas power station, according to New Resource Partners.
Spark Energy has become the seventh and biggest UK provider to go bankrupt this year, following the market exit of Extra Energy on Wednesday last week. Spark blamed “increasingly tough trading conditions” when the company’s debts were uncovered after it missed a deadline to make a £14 million ‘renewables obligation’ payment to Ofgem.
Russia’s gas giant Gazprom has approved its 2019 financial plan, envisaging an overall investment volume of RUB 1,325.724 billion, equaling $20.15 billion. The lion’s share, or over RUB963 billion is intended for capital investments such gas production on the Yamal Peninsular and for three key gas export pipelines to Europe and Asia.
Rolls-Royce Power Systems has won an order from C-Energy to supply its new medium speed V-engine, B36:45, in order to add an extra 23 MW to a combined heat and power (CHP) plant in Bohemia, Czech Republic. The first units will start operating before the beginning of 2019.
Hourly electricity usage on Thanksgiving and the following day – Black Friday – tend to have different demand patterns from other weekdays. Instead of a morning and an evening peak, the electricity demand on a Black Friday rather resembles that of weekends.
Indebted Ohio-based utility FirstEnergy Generation has agreed to sell its 545 MW West Lorain Facility to Vermillion Power, part of Starwood, for $144 million in cash – if no higher bid comes forward. The sale of the CCGT will be accomplished through a court-supervised bankruptcy auction to maximize the value of the asset.
Developed economies like Japan, Denmark and the United States have achieved a high economic growth with fairly constant energy consumption. If all cost-effective efficiency measures were deployed, the global economy could double by 2040 with only a marginal rise in energy demand, the International Energy Agency (IEA) finds.
ABB Ability Ellipse solution will support Ameren Illinois’ multi-million dollar modernization of their power grid in Illinois. The asset performance management software has a “prescriptive approach”, which will allow Ameren to better predict and prevent the failure of mission-critical equipment that delivers electricity to 1.2 million customers.
More than half of India’s installed 25 GW of gas-fired power generation lies idle, with the Central Electricity Authority (CEA) identifying about 14 GW capacity as ‘stranded,’ of unutilized. These plants had been built based on government assurances of regasified LNG supply, which did not materialize.
India's Prime Minister Narenda Modi has voiced concerns over excessive delays in joint venture projects with Sri Lanka. The neigbouring island nation is expected to fast-track a LNG-fuelled power plant after a coal power project was halted, just when the Indian JV was about to start construction. Despite approval for a $250 million LNG import terminal near Colombo, the Indian-Japanese JV has followed through with the project.
Energy storage will play a growing role in the British power mix as the Brexit process is at a critical stage and the country seeks to reduce reliance on importing electricity through from mainland Europe. “Interconnectors are direct competitors in the flexibility marketplace,“ Wood Mackenzie said, suggesting Brexit could be good news for the UK storage market.
Vowing to avoid shortages and price spikes, China’s National Development and Reform Commission (NDRC) is pushing through measures to expand both pipeline gas and LNG imports. Taking early action is meant to improve China’s gas reserve and helps to make pre-arrangements for peak demand. CNNOC just issued a tender for a strip of cargoes to be delivered between November 2018 and 2022.
With the advent of utility-scale energy storage and hybrid power systems, traditional power producers are turning to system integrators to balance multiple generation assets and optimize the energy produced. Wärtsilä’s GEMS software helped ALTEO Group optimise an engine power plant with energy storage in Hungary, and on the Azores the software used a mircogrid form of AI to control and balance wind, solar and diesel gensets.
Shaking up its indebted GE Power unit, the new General Electric CEO Larry Culp has reinstated John Rice – a retired GE veteran who once led its energy unit – as chairman of the Gas Power segment. “GE is desperate for leadership,” analysts commented, but it is deemed unlikely that there will be any quick fix.
Swift and efficient completion of drilling at the Wolfcamp play has been driving up the overall hydrocarbon production in the Permian Basin. The Wolfcamp accounted for 1 million barrels of crude oil per day (b/d) and 4 Bcf/d of natural gas. Productivity gains were caused by drilling longer horizontal laterals and optimizing completions.