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Shell diverts $7 billion cash flows to cover hefty margin calls
... mid- 2021 an initial margin of 1 billion euros $1.10 billion was posted in natural gas futures. This month, the same position required 6 billion euros $6.63 billion to back it. Other signatories included Exxon Mobil , BP , Cheniere , RWE , Engie, EDF , Citi Group and Morgan Stanley , and the world's leading energy traders Vitol, Trafigura, Mercuria and Gunvor.
Updated: 04/07/2022
Russia’s Ruble comes Roaring Back as U.K. Energy Sec. Plans to keep coal plants open
... reducing its coal burn for years as it transitions to cleaner energies, but natural gas shortages meant Britain had to rely on the dirtiest fossil fuel to keep the lights on. Several plants have already closed in the U.K. plans to phase out coal in 2024. EDF currently has very low coal stocks, so the company would need to apply for a permit with the U.K. According to a person familiar with the matter, the Environment Agency's commitment to burn supplies from elsewhere due to emissions limits, but they ...
Updated: 04/07/2022
UK households face major increase in energy bills
... the cap on the average annual bill rose to 1,971, putting unprecedented pressure on the websites of suppliers. The meter reading page of British Gas , one of Britain s biggest suppliers, displayed an error message on Friday morning, while E.ON and EDF were battling with outages. The cost of living is growing due to multiple planned price increases, including council tax and VAT on pints to broadband and phone bills, with inflation predicted to hit a 40 year high later this year. As snow and hail ...
Updated: 04/01/2022
Bidding begins in largest US offshore wind auction
... that the development of all six tracts could generate seven gigawatts of wind energy, enough to power two million homes. Nearly 25 firms were allowed to participate in the auction, including European companies Avangrid Renewables , Equinor ASA and EDF Renewables Development , as well as US companies Invenergy and Arevia Power . The first lease sale that has been held by the federal government since 2018, said Lesley Jantarasami , an energy specialist at the Bipartisan Policy Center , a US think ...
Updated: 02/23/2022
France to build 14 new nuclear reactors
... significantly less energy in the next decades. He said he would try to extend the lives of all existing French nuclear plants where it was safe to do so. The announcement came at a difficult time for the debt-laden state-controlled energy provider, EDF, which faces delays and budget overuns on new nuclear plants in France and Britain, as well as corrosion problems in some of its older reactors. By the year 2050, Macron said there would be six new reactors by the EDF, with an option for another ...
Updated: 02/10/2022
French firm EDF ready to close GE nuclear deal
French electricity giant EDF prepared Monday to close a deal for the nuclear turbines business of General Electric, the latest step in President Emmanuel Macron's plans to revive his country's atomic power drive. French electricity giant EDF prepared Monday to close a deal ...
Updated: 02/07/2022
Big tech companies buy 31.1 gigawatts of renewable energy in 2021
... Amazon.com AMZN was the biggest buyer, with 44 offsite PPAs in nine countries, totaling 6.2 GW. It brings its clean energy PPA capacity to 13.9 GW, making its clean energy portfolio the 12th largest globally among all types of companies, just ahead of EDF. Amazon has faced social backlash for worker rights and whether its delivery is green enough even with sustainable actions, and is aiming to be carbon-neutral by 2040, a decade sooner than most national pledges. Alphabet's Google GOOGL previously ...
Updated: 01/31/2022
Global carbon market value hits record high in 2021
A view shows emissions from the smoke stack of the Electricite de France EDF coal-fired power plant in Cordemais near Nantes, France, January 20, 2022. A view shows emissions from the smoke stack of the Electricite de France EDF coal-fired power plant in Cordemais near Nantes , France , January 20, 2022. REUTERS Stephane ...
Updated: 01/31/2022
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