Energy

EU rewrites climate diplomacy deal to resolve nuclear sticking point

European Union countries intend to push for a global phasing out of fossil fuels among their climate diplomacy priorities this year, which the bloc hopes to approve this week after…

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Spain maps out first boundaries for offshore wind parks

Spain's government on Tuesday approved its first ever delimitations for where wind farms can be developed off the country's coast, a significant step towards developing the offshore sector. Prime Minister…

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Oil price drops on concerns of global economic slowdown

Brent oil fell on Tuesday, reversing the previous day's gain, as fears that a global economic slowdown, and drop in fuel demand, amid aggressive interest rate hikes by the U.S.…

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IEA’s Birol warns of tighter energy supply next winter

By Andreas Rinke BERLIN, Feb 19 (Reuters) - International Energy Agency (IEA) head Fatih Birol has warned of possible energy shortages next winter as relatively little new liquefied natural gas…

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EU opens door to ‘green’ nuclear-derived hydrogen

The European Commission published rules on Monday that could allow some hydrogen produced in nuclear-based energy systems to count towards EU renewable energy goals, signalling a win for pro-nuclear France.…

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Brussels says EU exit from Energy Charter Treaty ‘unavoidable’

The European Commission has told member countries that a joint EU exit from a controversial international energy treaty appears inevitable, according to a document seen by Reuters, with some of…

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France’s nationwide strike hits power production, fuel deliveries

A nationwide strike in France against pension reform led to a drop in electricity output and stopped deliveries from TotalEnergies sites on Tuesday. French power supply has been reduced by…

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EU planning fast-track permits for clean tech

Producers of clean technologies like renewable hydrogen and batteries could receive faster permits under European Union plans to support industries facing U.S. and Chinese competition, a draft document showed on Monday.…

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UK’s Hunt pledges to boost growth but won’t budge on tax hikes

British finance minister Jeremy Hunt promised on Friday to tackle the country's weak productivity with post-Brexit reforms to boost growth, but signalled that he would stick to tax rises that…

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Italy plans to renew relief measures to soften energy prices

ROME, Jan 26 (Reuters) - Italy's government plans to review and extend existing relief measures aimed at helping families and firms cope with sky-high energy prices, Economy Minister Giancarlo Giorgetti…

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UK’s National Grid to pay people to use less power amid cold snap

LONDON, Jan 22 (Reuters) - Britain's National Grid said it would pay customers to use less power on Monday eveningand that it had asked for three coal-powered generators to be…

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New York state to forgive $672 million of overdue gas, electric bills

(Reuters) - New York state will forgive $672 million worth of unpaid gas and electric utility bills from the pandemic era for about half a million customers, in what the…

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Europeans dial down the heating, heed calls to save energy

By Thomas Escritt BERLIN (Reuters) - Europeans have dialled down their heating this winter, apparently heeding government calls to conserve energy amid the Ukraine crisis, with some delaying switching it…

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Fund groups warn over EU legal definition of ‘greenwashing’

European Union regulators should not define greenwashing in law, fund industry groups have told the bloc's markets watchdog, citing concerns this would complicate a sector in "constant flux". Trillions of…

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Eni, Chevron announce new Mediterranean gas discovery

Italian energy group Eni and U.S. energy major Chevron revealed that they had made a new gas discovery in an Egyptian offshore field in the Eastern Mediterranean sea. The Nargis-1…

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Environment risks dominate in “polycrisis” world – WEF survey

Failure to tackle climate change and environmental degradation dominate the ranking of top risks facing the planet in the next decade, a World Economic Forum (WEF) survey of global risk…

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Sweden makes regulatory push to allow new nuclear reactors

Sweden is preparing legislation to allow the construction of more nuclear power stations to boost electricity production in the Nordic country and bolster energy security, Prime Minister Ulf Kristersson said…

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EU should agree remaining climate laws by summer, Sweden says

The European Union aims to finish negotiations by July on laws to deliver its 2030 climate change target, although a contentious overhaul of fossil fuel taxes will likely take longer,…

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SolarEdge sees U.S. solar growth slowing in 2023, European markets surging

Growth in the U.S. solar industry is expected to slow down in 2023, while some European and Asian markets are poised to surge, SolarEdge Chief Financial Officer Ronen Faier said…

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China boosts coal production, eases Australia ban to boost energy security

The increasing need to secure energy supplies after easing COVID-19 restrictions has pushed China to gradually resume Australian coal imports and urge domestic miners to boost their already record output.…

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Italy’s Eni sets up sustainable transport services company

Italian energy group Eni said it had set up a new company dedicated to sustainable transport, which would develop bio-refining, biomethane and offer mobility products and services in Italy and abroad. The move…

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German minister reignites coalition row with call to review nuclear exit

Germany's transport minister called for an expert committee to examine whether the lifespan of the country's nuclear plants should be extended, reopening a row within Chancellor Olaf Scholz's coalition. Germany's…

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EU countries agree gas price cap to contain energy crisis

European Union energy ministers on Monday agreed a gas price cap, after weeks of talks on the emergency measure that has split opinion across the bloc as it seeks to…

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UPDATED: EU countries consider 180eur/MWh trigger for gas price cap – draft

BRUSSELS, Dec 19 (Reuters) - European Union countries' energy ministers were discussing a draft compromise on Monday to cap gas prices if Europe's benchmark gas price spikes to 180 euros…

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Four leaders sign agreement to bring green Azeri energy to Europe

Part of EU efforts to diversify away from Russia EU ready to commit financial support to project -von der Leyen Project will reinforce security of supply -von der Leyen BUCHAREST,…

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Over a million British homes signed up to scheme to cut winter power demand

LONDON, Dec 14 (Reuters) - More than a million British homes have signed up to a scheme which will pay them to cut electricity use to help prevent power shortages…

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EU agrees €20 bln boost for energy funding to quit Russian gas

By Kate Abnett BRUSSELS, Dec 14 (Reuters) - The European Union will raise an extra 20 billion euros from its carbon market for investments to help end more swiftly the…

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Australia to cap prices of coal, gas to drive down energy bills

Gas, coal price caps around 50% below Q3 average prices Gas producers say price caps will backfire Power producers say unclear when bills will fall Coal producers seek more details…

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Slovakia to cap household power prices in 6 bln euro package

Dec 1 (Reuters) - The Slovak government will cap energy prices for households next year at a cost of 6 billion euros ($6.25 billion), through subsidies and a contract with the main…

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Europe on course to end winter with plenty of gas

Europe's gas inventories are on course to end the winter of 2022/23 at one of the highest levels on record - if prices stay high and provided pipeline deliveries from Russia continue.…

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EU fails to agree on Russian oil price cap, say diplomats

European Union governments failed to agree on Monday on a price cap on Russian seaborne crude oil, as Poland insisted that the cap had to be set lower than proposed…

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UPDATED: Italy applies 50% windfall tax on energy companies’ extra income

By Giuseppe Fonte ROME, Nov 28 (Reuters) - Italy plans to apply a 50% one-off windfall tax next year on surplus income of energy companies that have benefited from the…

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FACTBOX: Dim the lights: Europe’s retailers scramble to cut energy use

Nov 25 (Reuters) - Shutting early, switching off the lights and lowering temperatures are among the measures being taken by Europe's retailers and shopping malls to try and cut energy…

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EU gas cap seen in place for one year, countries at odds over price level

The European Commission proposed introducing a gas price cap for one year from Jan.1, 2023, according to draft legislation seen by Reuters that has so far left the actual ceiling level…

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Europe rushes to fill up on Russian diesel before ban begins

By Rowena Edwards and Ron Bousso LONDON, Nov 21 (Reuters) - European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in…

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Ukraine power supplies are under control, no need to panic -ministry

Nov 19 (Reuters) - Ukrainian electricity supplies are under control despite a series of Russian attacks on power-generating infrastructure and there is no need to panic, the energy ministry said on Saturday.…

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France spends 8.4 bln euro to help companies with energy bills

PARIS, Nov 19 (Reuters) - France will spend 8.4 billion euros ($8.67 billion) to help companies pay their energy bills, in a bid to cushion the impact of rising electricity and gas…

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EU nations must “work quicker” on energy intervention – Portugal’s FinMin

By Sergio Goncalves and Aislinn Laing LISBON, Nov 15 (Reuters) - EU states must "work quicker and with stronger determination" to reach agreement to intervene in energy markets and support…

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Moody’s sees European power prices staying high

FRANKFURT, Nov 16 (Reuters) - European power prices are likely to remain high in the medium term, Moody's Investors Service said in a report on Wednesday, citing technical problems at…

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Energy crisis: MEPs back plans to boost the deployment of renewables

MEPs in the Industry, Energy and Research Committee shortened the maximum period to approve new installations from twelve to nine months, if located in the so-called "renewables acceleration areas". These…

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Persistent EU rifts seen delaying any approval of gas price cap

BRUSSELS, Nov 11 (Reuters) - Belgium, Greece, Italy and Poland on Friday threatened to block a new set of European Union steps to alleviate an acute energy crunch because they are angry…

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Italy to present new package to support economy, energy security

ROME, Nov 10 (Reuters) - Italy will approve a package of measures worth more than 9 billion euros ($8.96 billion) on Thursday to lower energy prices, increase gas output and…

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Euro zone grapples with coordinating energy support plans as recession looms

Measures to support the euro-zone economies against soaring energy prices could complicate 2023 budget plans if they need to be extended into the spring, the region's finance ministers said on Monday,…

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COP 27: UK’s Rishi Sunak says climate and energy security go hand in hand

British Prime Minister Rishi Sunak said on Monday climate and energy security went "hand in hand" and world leaders must act quickly to address the impacts of climate change. "Climate security goes hand in…

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COP26 a year later: Where do last year’s climate pledges stand?

(Reuters) - A year ago at the U.N. climate talks in Glasgow, Scotland, countries, banks and business leaders announced a slew of climate plans and pledges. Here is an update…

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German insurers warn against heating ‘experiments’ in energy crisis

FRANKFURT, Oct 31 (Reuters) - German insurers on Monday warned consumers not to engage in risky "experiments" as they try out makeshift alternatives to heat their homes as the nation…

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Average German household gas bill 173% higher than a year ago – Check24

FRANKFURT, Oct 31 (Reuters) - German households are paying more than 2-1/2 times as much for an average annual gas contract from their supplier than a year ago although wholesale…

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German Chancellor tells Greek paper solidarity only way out of energy crisis

ATHENS, Oct 27 (Reuters) - Solidarity is the only way to deal with the energy crisis, German Chancellor Olaf Scholz said in an interview with Greek newspaper Ta Nea before…

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UK financial watchdog proposes rules to stamp out ‘greenwashing’

Britain's financial watchdog proposed new rules on Tuesday from 2023 to stop consumers being hoodwinked by 'greenwashing', or exaggerated claims regarding environmentally friendly investments. Trillions of dollars have flowed into…

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World is in its ‘first truly global energy crisis’ – IEA

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of "the first truly global energy crisis", the head…

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Thousands protest in Germany demanding solidarity in energy relief

BERLIN/DUESSELDORF, Oct 22 - Tens of thousands of protesters in six German cities gathered on Saturday to demand a more just distribution of government funds to deal with rising energy…

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EU gas price cap still elusive as leaders meet again over energy crunch

BRUSSELS, Oct 20 (Reuters) - Leaders of the 27 European Union countries meet on Thursday for the second time in a fortnight to try to bring down energy prices, though…

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Netherlands to pull out of treaty protecting energy investments

AMSTERDAM, Oct 19 (Reuters) - The Netherlands will follow Spain in pulling out of the Energy Charter Treaty protecting investments in the sector, its energy ministry said on Wednesday. In…

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Dozens of LNG-laden ships queue off Europe’s coasts unable to unload

Dozens of ships carrying liquefied natural gas (LNG) circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they…

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EU to propose extra energy measures, swerve immediate gas price cap

The European Commission is set to propose another set of emergency measures on Tuesday to tackle high energy prices, but draft proposals suggest they will not include an immediate cap on gas…

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Europe’s energy security this winter? Depends on the weather

BRUSSELS/LONDON (Reuters) - European countries are buying gas at sky-high prices and scrambling to curb energy use to avoid fuel shortages this winter, but early weather forecasts point to the…

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Cap on power prices to replace Poland’s windfall tax plan

WARSAW, Oct 14 (Reuters) - Capping electricity prices for households and small businesses will cost about 19 billion zlotys ($3.9 billion) and likely means Poland will abandon earlier plans to…

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