US utility-scale storage developer GridStor has acquired the 199 megawatt, 796 megawatt-hour Birdseye battery energy storage project in Colorado from Accelergen, the company said on Wednesday, without stating a purchase price.
GridStor plans to advance the project to its construction phase as early as 2027, with a targeted commercial operations scheduled for the end of 2028.
The transaction marks GridStor's fifth asset acquisition within the last 18 months.
US natural gas futures pulled back on Wednesday after a string of gains pushed prices to an eight-week high, as forecasts for milder weather reduced expected cooling demand and offset support from rebounding LNG feedgas flows.The front-month Henry Hub contract and the continuous contract both fell 2.6% to $3.033 per million British thermal units.After a heatwave swept through major population centers in the Mid-Atlantic and Northeast earlier this week, forecasts now call for cooler temperatures heading into the Memorial Day weekend beginning Thursday.After peaking in the 90s on Tuesday and Wednesday ahead of the holiday weekend, a cold front is forecast to push daytime highs into the low 70s on May 21, then drop further into the mid-50s to low 60s degrees Fahrenheit from May 22 through May 24, accompanied by heavy rain.Temperatures are then expected to return to 70-80 degrees Fahrenheit by May 28-30. Overnight lows are forecast to remain mostly around 50-60 degrees Fahrenheit.Barchart, citing BNEF data, said that while heat lingered across much of the US on Wednesday, Lower 48 gas demand rose to 73 billion cubic feet per day, up 800 million cubic feet per day from the previous day and 4.1% higher than a year earlier.Celsius Energy estimated power-sector gas burn at 26.3 Bcf/d on Wednesday, up 2.4 Bcf/d from Tuesday and 7.3 Bcf/d above year-ago levels.LNG feedgas demand also strengthened after hitting a multi-month low on Tuesday due to seasonal maintenance. Net flows to US LNG export terminals climbed to 18.1 Bcf/d on Wednesday, up 2.5 Bcf/d from Tuesday and 3% above last week's level as Sabine Pass and Freeport resumed normal operations, Aegis Hedging said.US Lower 48 dry gas production averaged 109.3 Bcf/d on Wednesday, according to BNEF data cited by Barchart, up 1.1 Bcf/d from Tuesday and 1.4% higher than the same period last year.Ample domestic gas supplies and expectations for continued storage builds also weighed on prices.Barchart said consensus estimates for Thursday's weekly US Energy Information Administration storage report call for an injection of 98 Bcf for the week ended May 15, above the five-year average build of 92 Bcf.NRG Energy and Gelber & Associates expect builds of 95 Bcf and 96 Bcf, respectively. Analysts polled by the Wall Street Journal expect a near-normal 95 Bcf injection, which would put inventories 143 Bcf above the five-year average and 27 Bcf above the year-ago level, the paper said.
The European Commission approved the joint acquisition of Encyclis Ireland Assets by USS, Munich Re, and CVC DIF under the EU Merger Regulation, the regulator said Wednesday.Universities Superannuation Scheme of the UK, Munich Re of Germany, and Netherlands-based DIF Management B.V., which operates as CVC DIF, are acquiring joint control of the Irish company, the commission said.The transaction mainly covers Ireland's waste-to-energy sector.The commission said the deal will not raise competition concerns because the companies do not operate in overlapping or vertically connected markets.
US electrification could add 24 gigawatts of incremental power demand by 2035 and 78 GW by 2050, Enverus Intelligence Research said in a Tuesday analysis.Electrification should account for about 4.1% of total US electricity demand by 2035 as industries and buildings replace fuel-based systems with electric alternatives, the analysis said.PJM Interconnection, Midcontinent Independent System Operator and New York Independent System Operator should capture 69% of added load by 2035 because of strong industrial demand and heating transitions, Enverus said.The analysis expects some regions to post flat or declining demand as efficient heat pumps offset new electricity consumption and reduce overall energy use.Senior analyst Kevin Kang said industrial demand and heating transitions are emerging as major drivers of US electricity load growth, with impacts expected to vary significantly across regional power markets."At the same time, efficiency gains and regional differences in heating technology mean the impact on load is not uniform and will reshape grid dynamics, including increased winter sensitivity and market volatility," Kang said.Industrial electrification should contribute 11.4 GW of incremental demand by 2035, representing 47% of total projected load growth.Commercial sector should add 6.8 GW, or 29% of demand growth, while residential electrification should contribute another 5.7 GW, or 24%, Enverus said.Regions with heavy gas and oil heating use should see stronger power demand growth, while efficient heat pumps may reduce load growth in areas using electric resistance heating, Enverus said.State electrification mandates could increase load growth by 27% in ISO New England and 21% in New York ISO by 2035 while also increasing winter market volatility, according to Enverus.