Russian gas cuts lift German benchmark power price to record high

AB Photography/iStock via Getty Images Power prices in Europe have surged to record highs this week, as the effects of Russia’s gas supply cuts ripple through to the economies on the continent. German power, the European benchmark, rose to a record €337/MWh ($343.25) while French prices neared an all-time high at €398 on the European … Read more

EU Parliament approves ‘green’ label for nuclear power, natural gas (NYSEARCA:UNG)

WangAnQi/iStock via Getty Images The European Parliament voted Wednesday to include nuclear power and natural gas in the bloc’s list of investments deemed sustainable, a move that could trigger more funding of those sectors but that critics said would slow Europe’s shift to greener energy sources, The Wall Street Journal reports. The vote paves the … Read more

Power seeps away from Boris Johnson

When Michael Gove arrived in Boris Johnson’s Downing Street study on Wednesday morning, the prime minister knew what was coming. The dejected features of his fellow Brexiter were a sign that the end was near. It was Gove, Johnson’s campaign manager in the 2016 Tory leadership contest, who had then betrayed his own candidate, declaring … Read more

Russia signs pact for supplying tech for Kudankulam nuclear power plant

A unit of Russian nuclear major Rosatom State Corporation has signed an agreement to supply thermocouples for four power units of the Kudankulam Nuclear Power Plant (KNPP) in Tamil Nadu, according to an Economic Times report. . LUCH Scientific Production Association, which is a part of Science and Innovations, … Read more

ACME, Tata Power among 60 firms to sign MoUs worth Rs 1.25 trn with TN govt

In an impetus to Tamil Nadu’s goal of becoming a $1 trillion economy, the state secured investments worth Rs 1.44 trillion on Monday by signing of memoranda or understanding, laying of foundation stones and inauguration of new projects. MoUs for as many as 60 projects involving a cumulative investment … Read more

£15bn deal for UK Power Networks collapses after owner lifts price

The £15bn takeover of Britain’s largest electricity distributor by a consortium led by KKR and Australia’s Macquarie has collapsed after rising inflation prompted a last-minute price rise by its Hong Kong owner. Billionaire tycoon Li Ka-shing’s CK Infrastructure Holdings, which bought UK Power Networks for £5.5bn in 2010, tried to increase the sale price just … Read more

Discoms outstanding dues to power producers rise 4% to Rs 1.32 trn in June

Total outstanding dues owed by electricity distribution companies (discoms) to power producers rose by 4 per cent year-on-year to Rs 1,32,432 crore in June 2022. Discoms owed a total of Rs 1,27,306 crore to power generation firms in June 2021, according to portal PRAAPTI (Payment Ratification And Analysis in … Read more

Punjab houses get 300 units of free power, pending arrears till Dec waived

Punjab Chief Minister Bhagwant Mann said his government is fulfilling a guarantee made to people of the state as from Friday each household will be getting 300 units of free electricity every month. Mann said the government has also waived arrears of electricity bills pending till December 31, 2021 … Read more