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US Natural Gas Update: Futures Decline on Cooler Weather Outlook

Natural gas futures extended Thursday's losses on Friday, falling to a 1.5-month low as forecasts for cooler US weather reduced cooling demand expectations, while ample domestic supplies added to the bearish sentiment.The front-month Henry Hub contract and the continuous contract both dropped by 2.12% to $2.948 per million British thermal units.Updated weather models showed cooler temperatures across key demand regions over the next two weeks, prompting traders to lower expectations for near-term cooling demand, Gelber & Associates said.It noted that the latest forecast removed meaningful heat from the 6-15-day outlook, particularly across the central and eastern US, although it said a brief mid-July warm spell remains intact.Total Lower-48 demand slipped 0.4 Bcf/d day over day to 77.7 Bcf/d, although it remained 0.6% above year-ago levels, Barchart said, citing BNEF data. According to Celsius Energy, US power burn totaled 44.7 Bcf/d on July 9, up 0.9 Bcf/d from the previous day but 3.8 Bcf/d below the same day last year.Less demand is expected from the export sector as Freeport LNG started maintenance work on its pre-treatment and liquefaction facilities. Work is expected to continue until late August. Daily LNG feedgas demand weakened on Friday. Net deliveries to US LNG export terminals fell by 0.8 Bcf/d to 18.2 Bcf/d on Friday, down 5.2% from a week earlier.Supply fundamentals also remained bearish. The US Energy Information Administration reported Thursday that working natural gas inventories stood 6.6% above the five-year average as of July 3.While daily US output and import levels have fallen, supplies are considered abundant. Lower-48 dry gas production was estimated at 112.6 Bcf/d on Friday, down 0.9 Bcf/d from the previous day but up 5.2% from a year earlier. EIA on Tuesday raised its forecast for 2026 US dry natural gas production to 111.2 Bcf/d from its June estimate of 111.0 Bcf/d.Gelber & Associates said Friday's supply-demand balance remained loose, and calculated total supply at 115.8 Bcf/d versus demand of 112.0 Bcf/d, leaving the market oversupplied by 3.8 Bcf/d."Modest supply slippage provides some support," Gelber said. "However, it is unlikely to outweigh the immediate loss of export demand and the cooler extended forecast until stronger summer power burn returns."

Commodities33d ago

Market Chatter: BHP Evaluates Chile Asset Disposal Valued at Up to $2 Billion

BHP Group is considering monetizing a desalination plant and electricity transmission assets in Chile as it directs more capital toward its copper business, Bloomberg reported Friday, citing people familiar with the matter.The company has not decided whether to proceed because the review remains at an early stage. Discussions continue over the timing, structure and valuation of a potential deal, with the assets estimated to carry a combined value of $1.5 billion to $2 billion, according to the sources.The report said any successful bidder would likely enter long-term service agreements with BHP, with the company's largest copper mines underpinning steady cash flows.BHP Group did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities33d ago

Market Chatter: Seasonal Weakness Pressures Russia-India Crude Freight Rates

Freight costs for Russia's Urals crude exports to India have eased in July as a larger pool of available tankers and slower seasonal demand reduced pressure on the shipping market, Reuters reported Friday, citing three trading sources.An Aframax shipment of about 100,000 metric tons from Primorsk now costs roughly $7 million to $8 million, down from $10 million to $11 million in June, while Suezmax rates from Novorossiisk have fallen to around $10 million from about $15 million, the sources said.If shipping through the Strait of Hormuz faces fresh disruptions, freight rates could move higher again, traders said. India's Ministry of Petroleum and Natural Gas and Russia's Ministry of Energy did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities33d ago

Money Managers Stay Bullish in Biofuels Futures, Options Markets, CFTC Says

Money managers hold on to net long positions in the soybean oil futures and options markets, D4 and D6 Renewable Identification Numbers, and ethanol futures and options markets, according to the Commodity Futures Trading Commission's weekly Commitments of Traders Report released Friday.The weekly COT Report, as of the week ending July 7, showed that money managers are net long, a bet that the market will go higher, in the California Low Carbon Fuel Standard market by 60,391 contracts, while producers/merchants/processors/users or physical market participants are net short by 78,236 contracts.The COT report showed that money managers are net long by 1,211 contracts in the D6 RINs Current Year futures and options markets. Industry participants are net long by 349 contracts.In the D4 Biodiesel RINs Current Year futures and options markets, money managers hold a net long position of 1,508, while physical market participants are net short by 2,247 contracts.For ethanol, money managers are net long by 4,745 contracts, while industry participants are net short by 4,771 contracts.Money managers are net long soybean oil futures and options by 89,228 contracts, while commercial market participants are net short by 172,767 contracts.Money managers are net short Malaysian palm oil futures by 3,824 contracts, while industry participants are net long by 8,609 contracts.

Commodities33d ago

Quebec Targets Major Wind, Solar Expansion in Energy Plan Through 2050

The Canadian province of Quebec plans to sharply expand wind and solar power over the next 25 years as part of a strategy to add 150 terawatt-hours of renewable energy by 2050, it said in its recently released 2026-2050 Integrated Energy Resource Management Plan.The long-term plan aims to strengthen energy security, support economic growth, and help the province meet its greenhouse gas reduction targets while gradually reducing reliance on fossil fuels. The government said the 2050 renewable energy target could be revised in future updates as economic conditions and energy demand evolve.Wind power is expected to provide the largest share of new electricity generation, reflecting Quebec's strong wind resources and the relatively low cost and speed of deployment. However, the government acknowledged that variable wind generation cannot reliably meet periods of peak electricity demand on its own.Installed wind capacity is projected to reach 12-16 gigawatts by 2040 and 21-25 GW by 2050. To support that expansion, Quebec said it will increase energy storage capacity and deploy additional grid management tools to ensure sufficient electricity supply during peak demand.The plan also calls for a significant expansion of solar power, citing the technology's rapid deployment potential, modularity, and the availability of suitable development sites. Because solar generation is limited during winter peak demand periods, the government said it would complement rather than replace other sources of electricity generation.Large-scale solar projects will be developed where transmission and distribution networks have available capacity, with installed solar capacity projected to reach 1-3 GW by 2040 and up to 5 GW by 2050.The provincial government also expects strong growth in distributed solar installations, including rooftop and parking-lot systems, saying smaller-scale projects can be deployed quickly to expand behind-the-meter electricity generation.

Commodities33d ago

US Biofuels Update: Soybeans Gain Friday on Bullish USDA Outlook, China Demand and Weather Concerns

Biofuels feedstock futures closed higher on Friday, with soybean futures and soybean oil advancing after the United States Department of Agriculture's July supply-and-demand report reinforced export demand while weather concerns continued to underpin sentiment.The Chicago Board of Trade August soybean futures contract closed 1.19% higher at $11.91 3/4 per bushel, while the CBOT August soybean oil futures contract settled 0.77% higher at 70.46 cents per pound.The Nymex August ethanol futures contract settled 0.13% higher on Friday at $1.93 per gallon.Soybean futures rallied after USDA's July World Agricultural Supply and Demand Estimates delivered supportive revisions to soybean supply and demand, with traders expected to shift their focus back to US growing season weather, according to DTN analyst Rhett Montgomery.August soybean futures climbed 14 cents as traders also responded to mid-July heat and dryness concerns and nearly 1 million metric tons of flash export sales during the week, led by purchases from China, Montgomery said.USDA raised its 2025-26 US soybean export forecast by 10 million bushels to 1.52 billion bushels, reducing old-crop ending stocks to 330 million bushels from 340 million bushels.For 2026-27, USDA projected a record US soybean crop of 4.475 billion bushels but also increased export demand to 1.66 billion bushels, leaving ending stocks unchanged at 310 million bushels, the lowest level in four years, Montgomery added.USDA also increased its forecast for Chinese soybean imports by 1 million metric tons for both 2025-26 and 2026-27 while trimming projected global soybean ending stocks for 2026-27 to 124.2 million metric tons, supporting longer-term demand expectations.Montgomery added that a US market share of 25 million metric tons, or 22%, appears attainable if China imports 114 million metric tons of soybeans in the coming year.Montgomery said August soybean futures held technical support at the 100-day moving average and the market could retest the $12.00-per-bushel level next week as weather remains the primary market driver following the USDA report.Ethanol makers will use 5.6 billion bushels of corn in the 2026-2027 marketing year that started on Sept. 1, the Department of Agriculture forecast in a monthly report Thursday. That's unchanged from the June outlook for 5.6 billion bushels.Total US corn use for 2026/27 is forecast at 16.25 billion bushels. That's above last month's outlook of 16.02 billion.Biodiesel makers will use 17.8 billion pounds of soybean oil in the 2026-2027 marketing year, which began on October 1. That's unchanged from the June outlook and higher than the 14.6 billion pounds used in the 2025/2026 marketing year.The USDA estimated US soybean oil 2026/2027 ending stocks at 1.87 billion pounds, unchanged from June.

Commodities33d ago

Money Managers Maintain Bullish Bets on Crude Oil, CFTC Says

Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended July 7, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released on Friday.The data showed that money managers reported 186,489 long positions, down 12,869 from June 30, while short positions were up 6,166 to 111,810.Producers, merchants, processors, and users held 734,977 long positions and 330,736 short positions.

Commodities33d ago

PJM Uses Emergency Measures to Maintain Reliability Through Record July Heatwave

PJM Interconnection maintained reliable grid operations during an unprecedented July heat wave that pushed electricity demand to a record high and required the use of all available generation resources, it said in a Friday statement.PJM, a regional power grid operator that coordinates electricity supply and transmission across 13 US states and the District of Columbia in the mid-Atlantic and parts of the Midwest, reached a preliminary all-time peak load of 168,158 megawatts between 5 and 6 pm on July 2, surpassing the previous record of 165,563 MW set Aug. 2, 2006. The estimate includes demand response resources that reduced electricity consumption during the system emergency.The record occurred as the PJM region experienced its hottest-ever average temperature, reaching 97 degrees on July 2. Temperatures in parts of the Mid-Atlantic climbed into the low 100s. At the same time, forced generation outages ranged from 18,100 MW to 19,400 MW between July 2-4, well above the 12,800 MW average outage level recorded during the top 10 summer peak days of the past three years."This was the highest peak we have ever served, through an unprecedented heat wave," said PJM Dispatch Senior Manager Paul Dajewski. He credited coordination among PJM, generators, transmission owners and neighboring grid operators for maintaining system reliability.As demand approached its peak July 2, several generators tripped offline, prompting PJM to activate emergency procedures, including calling on demand response resources. PJM estimated demand response performance at 6,113 MW on July 2 and 5,037 MW on July 3.The preliminary peak load reflects the electricity demand PJM would have served without curtailment actions, it said. Final demand response performance and official peak load figures will be released after a 60-day evaluation.The peak approached PJM's summer forecast of 169,128 MW, a level expected to occur only once in 10 years. Dajewski warned that while the system performed successfully, capacity margins remain a concern as demand growth continues to outpace new supply additions.PJM also said it received the US Department of Energy's approval for emergency orders allowing temporary relief from environmental operating limits and potential curtailment of certain large loads if needed. PJM estimated about 3.25 GW of generation operated beyond normal permit limits. The emergency orders were effective July 1-6.

Commodities33d ago

Update: US Active Rig Count Rises by 1, Baker Hughes Says

(Updated to include additional details.)The combined count of crude oil, natural gas, and miscellaneous rigs in the US rose by one to 581 in the week ending July 10, according to data from Baker Hughes (BKR) released Friday.The US oil rig count remained unchanged from the previous week at 445, while the gas rig count also held steady at 126, the data showed.The number of miscellaneous rigs in the US increased by one from nine the previous week to 10. The US had 424 oil, 108 gas, and five miscellaneous rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, dropped by 10 to 760 from 770 the previous week.Price: $57.63, Change: $+0.43, Percent Change: +0.75%

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Commodities33d ago

US Active Rig Count Rises by 1, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US rose by one to 581 in the week ending July 10, according to data from Baker Hughes (BKR) released Friday.The US oil rig count remained unchanged from the previous week at 445, while the gas rig count also held steady at 126, the data showed.Price: $57.72, Change: $+0.52, Percent Change: +0.90%

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Commodities33d ago

US Natural Gas Update: Futures Lose Ground on Ample Supply, Weakened Demand

US natural gas futures pared some losses in midday trading Friday after falling sharply earlier in the session, pressured by signs of softer demand amid abundant supply.The front-month Henry Hub contract and the continuous contract were both down 2.59% at $2.936 per million British thermal units.In earlier trade, prices fell as low as $2.874/MMBtu.LNG feedgas demand is expected to slow as Freeport LNG begins a weeks-long maintenance program, while weather forecasts point to cooling demand.Gelber & Associates said in a Friday note that current indications suggest a sequential, single-train turnaround rather than a broad simultaneous outage at Freeport LNG.Feedgas flows across the facility's primary supply points have eased to about 1 billion cubic feet per day to 1.35 Bcf/d, down from a recent baseline of roughly 1.7 Bcf/d. The maintenance work is expected to wind up at the end of next month.On the weather front, NatGasWeather.com said Thursday that while the next seven days would be hot in the southern two-thirds of the US, the major population centers in the northern US would experience milder temperatures.Meanwhile, supply levels remain elevated. The US Energy Information Administration reported a 61 Bcf storage injection for the week ended July 3, exceeding market expectations that ranged from 49 Bcf to 58 Bcf. The larger-than-expected build weighed heavily on futures prices Thursday.The latest injection was also above the 53 Bcf build recorded during the same week last year and the five-year average increase of 51 Bcf, lifting inventories to 2.983 trillion cubic feet, or 6.6% above the five-year average.US gas production in the Lower 48 remains strong but has eased slightly, averaging 109.7 Bcf/d so far in July, down from 110 Bcf/d in June, according to Trading Economics. July output remains below the record monthly high of 110.6 Bcf/d reached in December 2025.

Commodities33d ago

US Active Rig Count Rises by 1, Baker Hughes (BKR) Says

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Commodities33d ago

Market Chatter: Tajikistan Holds 60-Day Fuel Stockpile, Eyes New Supply Deals

Tajikistan's energy minister said the country holds about 60 days of fuel reserves and is negotiating future supplies with neighboring countries as fuel shortages hit key trade partner Russia, RFE/RL reported Friday, citing Energy Minister Daler Juma.Juma said Tajikistan continues to receive Russian petroleum products under an intergovernmental agreement despite logistical challenges while expanding supply talks with Kazakhstan, Turkmenistan, Iran, Iraq and Belarus, according to the report.Tajikistan relies heavily on Russian fuel imports, but Ukrainian drone strikes on several Russian refineries, including Omsk, have disrupted supplies in recent weeks, the report said.Tajikistan's Ministry of Energy and Water Resources did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Commodities34d ago

EMEA Natural Gas Update: Futures Retreat From Weekly High as Iran Talks Resume Focus

European natural gas futures extended losses in after-hours trade on Friday, pulling back from a one-month high reached earlier in the week as markets monitored renewed US-Iran diplomatic efforts despite recent military tensions.The front-month Dutch TTF contract fell 3.786% to 48.205 euros ($55.13) per megawatt hour, while the UK front-month NBP contract declined 3.915% to 116.100 British pence ($1.56) per therm.Prices had climbed earlier in the week after Iran attacked vessels transiting the Strait of Hormuz, raising concerns over potential disruptions to global energy flows, and the US attacked Iran in a major military action. The gains eased on Friday after US President Donald Trump said Washington had agreed to resume talks with Tehran at Iran's request."The Islamic Republic of Iran has asked us to continue 'talks.' We have agreed to do so, but the United States has stated to them, in no uncertain terms, that the ceasefire is over!" Trump said in a social media post.Iran has not yet publicly confirmed its willingness to restart negotiations.Trump initially declared the ceasefire over on Wednesday during the North Atlantic Treaty Organization summit, following Iran's reported strikes on vessels in the Strait of Hormuz earlier in the week.Despite the retreat in prices, Europe's gas market remains under pressure from low inventories ahead of the winter heating season. EU gas storage facilities were 51.10% full, compared with 61.59% during the same period last year, according to Gas Infrastructure Europe data. Inventories were also well below the five-year average of 66.3% for this time of year, according to the Swiss Federal Office of Energy.The Middle East conflict and the potential risk of disruption to shipments through the Strait of Hormuz have complicated efforts to rebuild inventories, and strong cooling demand during a series of heatwaves across Europe has added further pressure on supply.Europe is experiencing its third heatwave of the summer after one of the most severe heat events in five decades pushed temperatures to record levels across several countries, according to Copernicus, the European Union's climate monitoring service. Western Europe recorded its hottest June on record, with the region bearing the brunt of the extreme heat, it said.

Commodities34d ago

Hormuz Attacks Revive LNG Supply Fears as US Heatwave Tests Power Grids, RBC Says

The attacks on energy vessels in the Strait of Hormuz, including a Qatar-owned liquefied natural gas tanker, have renewed concerns over the security of the strategic waterway as shipping activity had begun to recover following a ceasefire, RBC Capital Markets strategists said in a note Thursday.RBC analysts said since the start of the ceasefire on April 8, 27 LNG tankers have exited the Persian Gulf while 31 have entered.Though transit volumes remain below pre-conflict levels, the analysts said the resumption of flows had provided some confidence that shipping activity was gradually normalizing after the signing of a memorandum of understanding.However, the latest military strikes have disrupted that optimism, raising concerns that renewed hostilities could again threaten LNG exports from the Gulf region.RBC said Qatar has paused efforts to ramp up LNG production after the threat level in the region was elevated to "severe".The LNG cargo stored on the damaged vessel remains intact, but the incident highlights the vulnerability of the region's energy infrastructure and shipping routes.Most LNG tankers that exited the Gulf during the short recovery period were heading towards Asia, meaning any renewed disruption to Gulf exports could have an outsized impact on Asian LNG markets."Despite nearly all exiting LNG tankers during this brief window being headed to Asia, an outsized upward pressure on Asian prices could persist should Strait risk rise and production in the Gulf remain offline," RBC analysts said.The analysts said they have remained cautious about optimism over the MoU, and the cycle of violence that has reemerged supports that caution.Meanwhile, extreme heat across the US pushed electricity demand to near-record levels in early July, forcing grid operators to rely on demand response measures and a growing renewable energy fleet to maintain reliability.The New York Independent System Operator and PJM Interconnection issued energy watch alerts as temperatures surged.PJM received emergency authorization from the US Department of Energy to direct data centers to switch to backup generation if needed, although the measure was ultimately not activated.Power grid operator, instead, relied on demand-response programmes, compensating large industrial consumers to reduce electricity usage during peak periods.RBC said peak demand reached 162 gigawatts at around 6 p.m. on July 2, marking the second-highest level ever recorded by PJM.The bank said that renewable energy provided additional support during the heatwave. Between June 26 and July 7, wind and solar generation produced about 7 terawatt-hours more electricity compared with the same period a year earlier.

Commodities34d ago

Keystone Pipeline Owner Agrees to $26.8 Million Settlement Over 2022 Kansas Oil Spill

The US Justice Department filed a proposed settlement requiring the Keystone Pipeline owner and operator to pay over $26.8 million for the 2022 Kansas oil spill, the department said Friday.The Justice Department, on behalf of the Environmental Protection Agency and the State of Kansas, accused South Bow and South Bow Infrastructure Operations of violating the Clean Water Act after the Keystone Pipeline ruptured in Washington County, Kansas.The Dec. 7, 2022, rupture released nearly 13,000 barrels, or about 543,000 gallons, of crude oil into Mill Creek.The spill became the largest discharge in the Keystone Pipeline system's history and one of the largest inland oil spills in recent years, the department said.South Bow also agreed to spend about $40 million on measures to prevent similar incidents and contribute over $3 million to Kansas for natural resource restoration projects, the department said.The complaint said oil up to 1 inch thick covered 3.5 miles of Mill Creek, contaminated 35 acres and killed or affected over 2,700 animals.The 2,687-mile Keystone Pipeline transports crude oil between Hardisty, Alberta, and Port Arthur, Texas.The proposed consent decree will undergo a 30-day public comment period before the court considers final approval, the department said.

Commodities34d ago

Estimates of 2026/27 Corn, Soybean Uses for Ethanol, Biodiesel Production Unchanged, USDA Says

Ethanol makers will use 5.6 billion bushels of corn in the 2026-2027 marketing year that started on Sept. 1, the US Department of Agriculture forecast in a monthly World Agricultural Supply and Demand Estimates report on Friday.That's unchanged from the June outlook for 5.6 billion bushels. Total US corn use for 2026/27 is forecast at 16.25 bb, and above last month's outlook of 16.02 bb.Biodiesel makers will use 17.8 billion pounds of soybean oil in the 2026-2027 marketing year, which began on Oct. 1. That's unchanged from the June outlook and higher than the 14.6 billion pounds used in the 2025-2026 marketing year.The USDA estimated US soybean oil 2026/27 ending stocks at 1.87 billion pounds, unchanged from the June outlook.

Commodities34d ago

Investors Favor Mid-Cap Refiners as Sector Fundamentals Strengthen, TPH Energy Says

Refining investors remain optimistic as stronger fuel margins, supportive market fundamentals and geopolitical developments continue to strengthen the sector, TPH Energy said in a Friday note.TPH Energy said investors showed the most interest in mid-cap refiners Delek US Holdings (DK), HF Sinclair (DINO) and Par Pacific Holdings (PARR), while Phillips 66 (PSX) and Valero Energy (VLO) attracted the most attention among large-cap companies.Investors focused on the breakdown of the US-Iran memorandum of understanding, which boosted gasoline and diesel refining margins, while also watching Ukrainian drone strikes on Russian refineries, a recovery in Chinese refining activity and low fuel inventories, TPH Energy said.Market participants also examined regional refining trends, including weaker Midwest gasoline margins compared with the Gulf Coast during the summer, along with Western Canadian Select takeaway constraints, the note added.Investors also highlighted potential benefits from Small Refinery Exemptions for Delek US Holdings, Par Pacific Holdings and HF Sinclair, the note said.TPH Energy also expects Marathon Petroleum (MPC), Valero Energy, HF Sinclair, Delek US Holdings and Par Pacific Holdings to generate enough cash in the first half to support significant shareholder returns in the second half of 2026.Price: $55.66, Change: $-0.43, Percent Change: -0.77%

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Commodities34d ago

Germany Reportedly Passes Heating Law Rollback, Drops 65% Renewable Requirement for New Systems

Germany's parliament approved a heating law overhaul on Friday, removing the 65% renewable requirement for new systems while keeping a 2045 climate-neutral heating target, according to multiple media reports.The legislation lets homeowners install new gas and oil heating systems without meeting the previous 65% renewable energy threshold.Instead, suppliers must gradually increase climate-neutral fuel blends from 10% in 2029 to 60% by 2040 and 100% by 2045, according to the reports.The government said the changes give households greater flexibility and simplify rules introduced in 2023.Lawmakers secured Friday's vote after Germany's constitutional court rejected the Left party's last-minute request to delay the measure on Thursday.Environmental groups and opposition politicians argued the revised law weakens climate policy and could slow the shift away from fossil fuels.German Federal Ministry for Economic Affairs and Energy did not immediately reply to' request for comment.

Commodities34d ago

Germany Approves 11 GW Reserve Power Plan to Support Coal Phase-Out

Germany's parliament approved an electricity supply law to strengthen power security during the country's coal phase-out by producing a total of 11 gigawatts of backup power capacity, the Federal Ministry for Economic Affairs and Energy said Friday.The government will auction two rounds of 4.5 gigawatts each, totaling 9 GW, or about 20 power plants. It also plans a separate 2 GW auction in May 2027 that will allow battery storage projects to participate, the ministry said.The law passed Friday will use reserve power plants to generate electricity when wind and solar output falls, helping keep the grid stable, the ministry said.The new plants must also be hydrogen-ready and switch to fully climate-neutral operations by 2045, while the 9 GW of reserve capacity must provide electricity for extended periods when renewable output stays low, the ministry said.Lawmakers also changed where the new plants will be built. One-third of the projects will go to northern Germany and two-thirds to southern Germany after several states called for a different regional balance, the ministry said.The law also raises the maximum bid cap to 244,000 euros ($278,649) per megawatt from 173,000 euros/megawatt, allowing operators to seek higher payments for making reserve plants available through the auctions, the ministry said.The government also made it easier for battery storage operators to join the auctions. Systems can now pause for up to three hours instead of one, and they only need to recharge to 80% before supplying electricity again, the ministry said.The Bundestag also asked the government to quickly introduce rules that allow small power plant pools to qualify for the electricity market and to speed up the digitalization of Germany's power grid, the ministry said.The coalition also aims to complete more than 90% of the smart meter rollout by the end of 2030, offer a lower-cost smart meter option, improve grid data sharing, guarantee industrial grid connections, and prevent rollout delays from limiting market participation, the ministry said.

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Commodities33d ago