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Market Chatter: Investment Giants Vie for Shell Stake in LNG Canada

Private equity giants Apollo Global Management (APO), Blackstone (BX), and KKR (KKR) are the final contenders in a high-stakes auction for a significant portion of Shell's (SHEL) 40% stake in LNG Canada, Reuters reported Thursday, citing sources.The asset has become increasingly attractive as North American energy provides a stable alternative to supplies currently disrupted by the Iran war.Located with direct access to the Pacific, LNG Canada is the first major North American facility capable of shipping liquefied natural gas directly to key Asian markets.According to the report, the deal could be valued between $10 billion and $15 billion and allow Shell to monetize a portion of its interest and attract fresh capital for future expansions of the British Columbia-based facility.Shell intends to sell its exposure to both the first and second phases of the project to a single bidder rather than splitting the stake, the report noted.All involved parties, including the bidding firms, 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.)

$APO$BX$KKR$SHEL

Commodities55d ago

Japan-Based Kansai Electric Reports Lower Power Generation, Sales in Fiscal 2025, Sees Recovery Ahead

Japan's Kansai Electric Power Group Thursday reported lower electricity generation and sales volume for the fiscal year 2025 ended March 31.Total electricity generated and purchased in 2025 stood at 158.45 terawatt-hours, down from 161.85 TWh during the prior year. Similarly, sales volumes dropped 2.5% YoY, 152.2 terawatt-hours, compared to 156.0 TWh, which was primarily attributed to weaker sales to other companies.Retail sales, however, edged higher to 116.3 TWh, up 0.7%, even as residential demand slipped 1.5% to 32.4 TWh, offset by a 1.5% increase in commercial and industrial sales to 83.9 TWh.For 2026, the company has guided an increase in electricity demand to 162.8 TWh, which marks an increase of 7% compared to 2025.

Commodities55d ago

US National Weather Service Says Thunderstorm Risks Persist in Texas, Central Gulf Coast

The US National Weather Service warned of an ongoing risk of severe thunderstorms stretching from Texas to the Central Gulf Coast, with potential for scattered damaging winds and large hail, in a forecast on Thursday.There were risks of excessive rainfall over parts of central Texas headed towards eastern Texas by Friday, the report showed. Weather conditions across most of the rest of the country looked comparatively mild and uneventful.In the far north of New Mexico, there was a winter storm warning in place for Raton and Taos.The main power providers in the north of the state are Xcel Energy (XEL) and PNM Resources.The winter storm warning also applied further north in Colorado, in Trinidad, San Luis, La Veta Pass, Pikes Peak and Woodland Park where the main electricity suppliers are Xcel and Black Hills Energy.A freeze warning covered a small area of northwestern Colorado, specifically Baggs, Craig and Meeker, also served by Xcel.There was a warning of freezing conditions also in Utah affecting Logan, Niepbi, Richfield, Milford and Cedar City. The energy supplier in these locations is PacifiCorp subsidiary Rocky Mountain Power.There was a chance of freezing conditions in the US far north, with a warning for Minnesota covering St. Cloud and Willmar. The power provider there is Allete (ALE) unit Minnesota Power.In Wisconsin, served by Wisconsin Public Service, the same warning was in place for Rice Lake and Neilsville.There was a coastal flood warning on the eastern side of Petroskey in Michigan state where power is provided by Upper Michigan Energy Resources, Upper Peninsula Power, WEC Energy (WEC) utility We Energies and Xcel.

$ALE$WEC$XEL

Commodities55d ago

Kyushu Electric Power Electricity Output, Sales Volume Down YOY

Japanese utility Kyushu Electric Power Thursday reported lower electricity generation and sales volume for the fiscal year ended March 31.Electricity produced from own facilities and received from other companies totaled 102.5 terawatt-hours, lower than the previous year's 106.8 TWh.Production from all sources decreased, with nuclear energy output declining the steepest by 2.2 TWh to 28.6 TWh, as utilization rate dropped 6.3% to 82.3%.Sales volume also softened year over year to 98.3 TWh from 101.0 TWh. Retail sales dropped 7 TWh to 68.6 TWh, more than offsetting a rise in wholesale volume by 4.2 TWh to 29.6 TWh."...although there was a decrease in retail electricity sales volume, there was an increase in profit compared to the previous year due to factors such as an increase in wheeling revenue, and a decrease in fuel costs resulting from lower power generation costs by changes in the energy mix of the thermal power generation," the company said.For the next fiscal year, the Japanese utility expects retail electricity sales to further drop by 1.5 TWh to 67.1 TWh. It projects wholesale volume to increase by around 800 gigawatt-hours to 30.4 TWh.These will result in a net reduction of about 800 GWh, bringing total electricity sales to 97.5 TWh.In terms of nuclear energy output, Kyushu Electric expects a 900 GWh rise to 29.5 TWh, driven by an increase in utilization rate by 2.4% to 84.7%.

Commodities55d ago

Correction: Subsea 7 Q1 Revenue Up Across All Segments YOY

(Corrects the headline to reflect segment revenues rose year over year.)Subsea 7, a UK-based offshore engineering and construction company, Thursday reported Q1 2026 subsea and conventional business revenue of $1.47 billion, up 17% year over year from $1.26 billion.Net operating income rose to $228.1 million, from $98.7 million a year ago, which it attributed to improved project execution and stronger margins.The total backlog towards the end of the quarter stood at $13.5 billion, with the Subsea and Conventional business making up the bulk of it.Meanwhile, the renewables segment reported $282.1 million in revenue, up from $245.2 million, while posting an operating loss of $6.4 million.The company reported strong fleet utilization rates during the quarter, at 78% for the subsea and conventional business, followed by 81% for renewables, bringing overall utilization to 79%, up from 75% a year earlier. It operated a total of 36 vessels towards the end of this quarter, including seven chartered vessels.

Commodities55d ago

Correction: NorthWestern Energy Q1 Retail Electricity, Gas Sales Volumes Drop

(Corrects units on gas output figures in paragraph five.)US utility NorthWestern Energy (NWE) Wednesday reported a decline in retail electricity and gas sales volumes despite growth in its customer base.For the quarter ended March 31, the company sold 2.733 terawatt-hours of electricity, a drop from the previous year's 2.943 TWh, due to lower demand from residential and commercial sectors.Customer count, on the other hand, increased to 507,779 from the prior year's 501,786.Revenue from the electricity segment nonetheless rose year over year to $362.1 million in Q1, versus $335.5 million in the same quarter of 2025, due to higher rates and improved transmission revenue, according to the report.The company also reported a decline in retail natural gas sales to 15.93 million dekatherms from the previous year's 16.04 million Dth, as residential demand weakened.Sales dropped despite an increase in customer count to 343,568 from 307,890.Nonetheless, the natural gas segment generated $135.5 million in revenue for the period, up relative to $131.1 million posted a year earlier.Going forward, the company said it will deliver electricity for data centers, having signed development agreements with Sabey Data Centers, Atlas Power Holdings, and Quantica Infrastructure. It expects to provide up to 1.5 gigawatts of electricity by 2030, beginning with an initial 150 megawatts in late 2027.NorthWestern Energy said it anticipates its merger with Black Hills (BKH) will be completed in H2, with the resulting parent company to be named Bright Horizon Energy.

$BKH$NWE

Commodities55d ago

NorthWestern Energy Q1 Retail Electricity, Gas Sales Volumes Drop

US utility NorthWestern Energy (NWE) Wednesday reported a decline in retail electricity and gas sales volumes despite growth in its customer base.For the quarter ended March 31, the company sold 2.733 terawatt-hours of electricity, a drop from the previous year's 2.943 TWh, due to lower demand from residential and commercial sectors.Customer count, on the other hand, increased to 507,779 from the prior year's 501,786.Revenue from the electricity segment nonetheless rose year over year to $362.1 million in Q1, versus $335.5 million in the same quarter of 2025, due to higher rates and improved transmission revenue, according to the report.The company also reported a decline in retail natural gas sales to 15,933 dekatherms from the previous year's 16,038 Dth, as residential demand weakened.Sales dropped despite an increase in customer count to 343,568 from 307,890.Nonetheless, the natural gas segment generated $135.5 million in revenue for the period, up relative to $131.1 million posted a year earlier.Going forward, the company said it will deliver electricity for data centers, having signed development agreements with Sabey Data Centers, Atlas Power Holdings, and Quantica Infrastructure. It expects to provide up to 1.5 gigawatts of electricity by 2030, beginning with an initial 150 megawatts in late 2027.NorthWestern Energy said it anticipates its merger with Black Hills (BKH) will be completed in H2, with the resulting parent company to be named Bright Horizon Energy.

$BKH$NWE

Commodities55d ago

Market Chatter: Japan Weighs $3.1 Billion Summer Energy Subsidy Extension

Japanese Prime Minister Sanae Takaichi is reportedly preparing a 500 billion yen ($3.1 billion) relief package to revive electricity and city gas subsidies from July through September, Reuters reported Thursday citing a source.The move aims to shield households from rising costs fueled by Middle East tensions and a surge in liquefied natural gas prices, it said.According to the report the government intends to tap existing reserve funds rather than drafting a new supplementary budget and the measures would specifically cover peak summer usage.The Japanese government did not respond to' request for comments immediately.(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.)

Commodities55d ago

Subsea 7 Q1 Revenue Across Segments Gross YOY

Subsea 7, a UK-based offshore engineering and construction company, Thursday reported Q1 2026 subsea and conventional business revenue of $1.47 billion, up 17% year over year from $1.26 billion.Net operating income rose to $228.1 million, from $98.7 million a year ago, which it attributed to improved project execution and stronger margins.The total backlog towards the end of the quarter stood at $13.5 billion, with the Subsea and Conventional business making up the bulk of it.Meanwhile, the renewables segment reported $282.1 million in revenue, up from $245.2 million, while posting an operating loss of $6.4 million.The company reported strong fleet utilization rates during the quarter, at 78% for the subsea and conventional business, followed by 81% for renewables, bringing overall utilization to 79%, up from 75% a year earlier. It operated a total of 36 vessels towards the end of this quarter, including seven chartered vessels.

Commodities55d ago

Asia Biofuels Update: Malaysian Palm Oil Rises Further; Monthly Losses Expected

Malaysian palm oil futures extended gains for a third straight session on Thursday, tracking higher crude oil and rival soybean oil, but prices were set to decline around 5% over the month largely due to weaker export performance.The Bursa Malaysia Derivatives' May crude palm oil contract rose 0.82% to 4,542 Malaysian ringgit ($1,143.50) per metric ton. The June contract was up 0.75% to 4,579 ringgit/mt in midday trade."The situation in the Middle East has pushed up international oil prices, driving palm oil futures higher again," price reporting agency MySteel said.Stronger Chicago soybean oil prices and a weaker local currency also provided an upside, according to PhillipCapital, as cited by Dow Jones.Other supportive factors helping prop up prices this week include the announcement of richer biofuel blends in conventional fuel in Indonesia and Malaysia and weather-related supply risks.However, MySteel said "the market may refocus on near-term pressure in the physical market."Weakening fundamentals continued to weigh on prices, particularly with a reported 15.7% to 16.8% month-over-month decline in Malaysian shipments for the April 1-25 period, as estimated by cargo surveyors.Expectations of higher production in the coming months following a seasonal low also added to negative sentiment.Meanwhile, the full-year production outlook points to tighter supplies, due to concerns over surging fertilizer costs and a possible drought.Eddy Martono, chairman of the Indonesian Palm Oil Association, warned that the country's palm oil output could drop by 1 million to 2 million tons, if the El Nino weather phenomenon develops and if farmers delay the application of fertilizer toward the end of the season, Reuters reported."In the short term, palm oil prices are expected to trade in a range," MySteel said, citing limited support provided from elevated crude oil prices.

Commodities55d ago

Equinor Awards Engineering Contract for Bay du Nord Offshore Project in Canada to Subsea Integration Alliance

Equinor (EQNR) has awarded a front-end engineering design contact to the Subsea Integration Alliance for development work at the Bay du Nord offshore Canada, Subsea said in a post on Linkedin on Wednesday.It said the development is one of the most significant deepwater projects ever proposed for Newfoundland and Labrador and the choice of Subsea Integration Alliance reflected the strength of its long-term collaboration with Equinor, established in 2024.Prior collaboration on the project has now simplified the development approach and enabled the establishment of a strong technical and commercial foundation for the so-called front-end engineering design or FEED contract, the company said.The company said there was strong regional expertise available for the project which is now moving into a detailed engineering phase that will precede a final investment decision."Bay du Nord is a hugely exciting step forward and a clear example of a new way of working. Entering FEED reflects the value that can be created through close collaboration," saidCEO Mads Hjelmeland.

$EQNR

Commodities56d ago

US Oil Update: Crude Settles Higher as US-Iran Standoff Threatens Global Supply

Crude oil futures rallied in after-hours trading on Wednesday, as a deepening standoff between the US and Iran over a naval blockade in the Strait of Hormuz and deadlocked peace talks heightened concerns about prolonged global supply disruptions.Front-month West Texas Intermediate crude futures surged by 8.57% to $108.49 per barrel, while Brent futures rose 9.01% to $121.48/bbl.US crude stockpiles dropped by 6.2 million barrels to 459.5 mmbbls in the week ended April 24, the Energy Information Administration said in its weekly report on Wednesday, amid signs of tightening supplies.Crude inventories are now about 1% above the five-year average for this time of year, the EIA said.Saxo Bank strategists said crude surged to record highs during this war-driven cycle, as the near-closure of the Strait of Hormuz prolongs a disruption that is tightening global energy markets.President Trump reportedly discussed how to mitigate the impact of a possible months-long US blockade of Iran's ports with American oil firms while urging Tehran to "get smart soon" and sign a deal."Iran can't get their act together. They don't know how to sign a non-nuclear deal. They better get smart soon!" Trump said in a post on Truth Social.Trump vowed to maintain the US naval blockade against Iran until Tehran agrees to a nuclear deal, noting that the blockade is more effective than the bombing.The US and Iran have been locked in a stalemate over talks to end the Middle East conflict, as flows of crude, natural gas and oil products from the Arabian Gulf remain effectively cut off since the conflict began in February.Meanwhile, the US naval blockade appears to be putting pressure on Iran, amid reports that the country is running out of crude storage space, which could accelerate production cuts.US Treasury Secretary Scott Bessent said Iran's Kharg Island, the country's primary oil export terminal, is approaching storage capacity, which will likely force the government to reduce crude production and cause damage to Iran's oil infrastructure.The latest Kpler data shows that seven vessels transited the Hormuz as of April 28, up by one from the previous day, but still well below typical volumes. Movement through the strategic waterway remains highly selective, with the majority of activity dominated by shadow fleet tankers.On the supply side, market participants continue to assess the impact of the UAE's shock decision to leave OPEC next month.RBC Capital Markets strategists said that with no immediate requirement for coordinated production cuts and many member states focused on rebuilding capacity, OPEC is expected to remain broadly intact in the near term.ING strategists said that the departure during a period of significant supply disruption limits the market impact."Therefore, in the short term, this development has little impact on the market. But in the medium to longer term, it means more supply for the market," the analysts said.However, OPEC+ is expected to agree to a small production hike over the weekend, despite the loss of significant exports due to the ongoing conflict and the UAE's exit, according to media reports.

Commodities56d ago

Antero Midstream Q1 Gathering Volumes Rise 14%

Antero Midstream (AM) reported higher gathering volumes in Q1 2026, while other operating metrics were mixed compared with the year-ago period.The company said gathering volumes rose 14% to 3,805 million cubic feet per day, up from 3,348 MMcf/d in Q1 2025.Centralized compression volumes increased modestly by 1% to 3,370 MMcf/d, compared with 3,330 MMcf/d a year earlier.Fresh water delivery volumes declined 21% to 83 thousand barrels per day, down from 105 MBbl/d in the prior-year quarter.Meanwhile, joint venture processing volumes increased 4% to 1,708 MMcf/d from 1,650 MMcf/d. Joint venture fractionation volumes were unchanged at 40 MBbl/d.

$AM

Commodities56d ago

CVR Energy Reports Q1 Production Gains as Utilization Reaches 97%

CVR Energy (CVI) reported Q1 earnings Wednesday, showing total production of 211,812 barrels per day, up from 116,575 b/d a year earlier.The company reported total throughput of 214,268 b/d for the quarter ended Mar. 31, up from 120,377 b/d, a year earlier.Coffeyville refinery gathered crude throughput rose to 50,723 b/d in the quarter, from 26,728 b/d a year earlier, CVR Energy said.Other domestic crude throughput increased to 62,045 b/d from 12,348 b/d, while Canadian crude throughput rose to 17,384 b/d, compared with 640 b/d a year earlier, the company said.Coffeyville produced 74,789 b/d of gasoline for the quarter versus 18,940 b/d a year earlier, while distillate output increased to 57,138 b/d from 20,233 b/d, the company said.Other liquid products declined to 4,439 b/d for Q1, down from 6,324 b/d a year earlier, while solids output rose to 5,981 b/d from 1,321 b/d, CVR Energy said.Wynnewood refinery throughput for gathered crude declined to 58,154 b/d compared with 68,572 b/d a year earlier, the company added.Other domestic crude throughput increased to 11,556 b/d for the quarter, up from 573 b/d, the company said.Wynnewood produced 36,699 b/d of gasoline for Q1, compared with 39,740 b/d a year earlier, while distillate output rose to 30,343 b/d from 24,948 b/d, the company said.Other liquid products declined to 2,413 b/d from 5,058 b/d, while solids output remained largely unchanged at 10 b/d versus 11 b/d, CVR Energy said.Crude utilization reached 96.8% of capacity, compared with 52.7% a year earlier, reflecting improved operating performance across refining assets, the company said.For Q2, the company expects total refining throughput between 200,000 b/d and 215,000 b/d, with crude utilization projected at 92% to 99%, it said.

$CVI

Commodities56d ago

Antero Resources Posts Higher Q1 Output, Maintains 2026 Guidance

Antero Resources (AR) reported Q1 earnings on Wednesday, showing net daily natural gas-equivalent production averaged 3.9 billion cubic feet equivalent per day from 3.4 Bcfe/d for the same period a year ago.The energy firm's average realized natural gas price before hedges was $5.57 per thousand cubic feet, up from $4.01 Mcf a year earlier. Realized C3+ natural gas liquids prices averaged $37.83 per barrel, down from $45.65/bbl for the corresponding period a year ago.Antero averaged 13.8 completion stages per day, up from 13.4 in 2025, and set a new drilling record of just under nine days per well, a 9% improvement over the year. Lateral lengths averaged 11,652 feet across 20 Marcellus wells turned to sales during the quarter.The company said 13 wells that had been online for about 60 days delivered an average initial production rate of 25 million cubic feet equivalent per day per well, including 1,457 barrels per day of liquids, assuming 25% ethane recovery.Antero expects Q2 production to average 4.1 Bcfe/d, supported by a full-quarter contribution from its HG acquisition. Production H2 2026 is expected to average about 4.2 Bcfe/d, bringing full-year output to around 4.1 Bcfe/d, unchanged from prior guidance.

$AR

Commodities56d ago

US Natural Gas Update: Futures Fall on Oversupply Fears Ahead of EIA Data

US natural gas futures maintained earlier losses in after-hours trading on Wednesday as concerns mounted that domestic storage levels will post another outsized build, underscoring an already oversupplied market.Both the front-month Henry Hub contract and the continuous contract declined 1.64% to $2.647 per million British thermal units.Market expectations ahead of Thursday's Energy Information Administration natural gas storage report center on an injection of 79-84 billion cubic feet, well above the five-year average increase of 63 Bcf for this time of year. Inventories are already elevated, running 7.1% above the five-year average as of Apr. 17, suggesting any above-normal build would further widen the surplus.Price declines were partially limited by forecasts for below-normal temperatures, which could support heating demand. Commodity Weather Group said Wednesday that cooler-than-average conditions are expected across the eastern two-thirds of the US through May 3.Even so, market sentiment remains cautious. Gelber & Associates said the new prompt month is trading with a restrained tone, citing a patchwork weather pattern that is keeping regional demand uneven and limiting conviction on either side of the market, despite the colder forecast.On the supply front, production is holding modestly below early-2026 peaks. Barchart, citing BNEF data, reported output at 109.9 Bcf/d, up 2.9% from a year earlier, while demand was 73.8 Bcf/d, a 12.5% increase year-over-year.LNG feedgas demand continues to provide underlying support, running near seasonal highs amid strong global demand for US exports and continued ramp-up at newer export facilities. BNEF data showed LNG feedgas flows at 19.1 Bcf/d, up 4.2% on the week.

Commodities56d ago

European Commission Adopts Aid Framework Through 2026 to Offset Energy Shock

The European Commission introduced a temporary aid framework running through Dec. 31, 2026, to support sectors hit by the Middle East crisis, it said Wednesday.The framework, called the Middle East Crisis Temporary State Aid Framework or METSAF, targets agriculture, fisheries, transport, and energy-intensive industries, the Commission said.Member States can provide support through fuel and fertilizer subsidies or small-scale aid schemes to offset rising input costs, the Commission added.The Commission is adjusting its Clean Industrial Deal State aid Framework to give countries more flexibility in responding to electricity price spikes, it said.Energy-intensive industries can now receive higher support, with aid intensity rising from 50% to as much as 70% of electricity costs, the Commission said.The aid can cover up to 50% of a company's electricity consumption without requiring additional decarbonization commitments, according to the Commission.Companies can combine this support with aid under Emissions Trading System guidelines for up to half of the assistance granted, the Commission said.Governments must notify measures under the framework, though the Commission will use a fast-track process to approve eligible support, the Commission added.The Commission will also review targeted measures such as subsidizing gas-fired power generation to help lower electricity prices as the crisis evolves, it said.

Commodities56d ago

Powell Says Fed Holds Rates as Oil Surge Pushes Inflation to 3.5%

Federal Reserve Chair Jerome Powell said Wednesday that rising oil prices from Middle East tensions lifted inflation to 3.5% and added to the uncertainty around the US outlook."Inflation has moved up and is elevated, in part reflecting the recent increase in global energy prices," Powell said at a press conference.Powell said geopolitical tensions, including risks involving Iran and key oil transit routes, have tightened global energy markets and fueled broader price increases."Developments in the Middle East are contributing to a high level of uncertainty about the economic outlook," Powell said, adding the Fed will remain attentive to risks on both inflation and growth.The Federal Open Market Committee kept its benchmark rate unchanged at 3.5% to 3.75% as policymakers assess the impact of rising energy costs on inflation and demand, Powell said."In the near term, higher energy prices will push up overall inflation," Powell said, adding that the scope and duration of the economic effects remain unclear as the conflict evolves.Powell said oil market volatility tied to geopolitical risks could disrupt supply flows, including through key chokepoints such as the Strait of Hormuz, increasing pressure on global prices."We will continue to monitor the risks to both sides of our dual mandate," Powell said, noting the Fed will respond as energy-driven inflation and uncertainty shift the outlook.Data showed total personal consumption expenditures inflation rose 3.5% over the year, while core inflation, excluding food and energy, increased 3.2%, reflecting persistent price pressures, Powell said."Monetary policy is not on a preset course," Powell said, adding the Fed will adjust rates based on incoming data and evolving risks tied to energy markets and geopolitical tensions.

Commodities56d ago

EU Steps Up Energy Enforcement, Targets Member States Over Power Rules

Europe has stepped up legal action against several member states over failures to implement key energy laws, including new electricity market reforms and renewable energy rules, the European Commission said on Wednesday.The Commission, in its latest monthly infringement package, issued reasoned opinions to Croatia, Poland, and Portugal for failing to fully transpose updated EU electricity market design rules into national law.The reforms are intended to make power prices more stable and less tied to volatile fossil fuel costs, while strengthening consumer protections and expanding contract choices.EU countries were required to implement the rules by Jan. 17, 2025, with some provisions extending to mid-2026.The bloc said Croatia, Poland, and Portugal have two months to respond or risk referral to the Court of Justice of the European Union, potentially facing financial penalties.The Commission also sent a reasoned opinion to Hungary over breaches of EU rules prohibiting intra-EU investor-state arbitration.The case relates to actions by Hungarian oil and gas company MOL Group, which sought to enforce an arbitral award and initiated new arbitration proceedings under the Energy Charter Treaty.The EU's executive body said such actions contravene the bloc's laws as clarified by the EU court's Komstroy ruling, which bars such disputes between member states. Hungary has two months to comply or face possible referral to the EU court.Meanwhile, the Commission referred Greece, Malta, and Portugal to the Court of Justice for failing to fully implement updated renewable energy rules.The legislation is designed to accelerate the rollout of renewable energy across sectors, including transport, industry and buildings, while supporting the bloc's climate goals and reducing reliance on imported fuels.The three countries had already received formal notices and reasoned opinions in 2025, but failed to adequately address the concerns, the Commission said. It is now seeking financial sanctions.

Commodities56d ago

PJM Draws 811 Power Project Requests in First Revamped Queue Cycle

PJM Interconnection attracted 811 generation proposals totaling 220 gigawatts in its first revamped interconnection cycle, PJM Inside Lines said Wednesday.PJM closed the April 27 application window and is reviewing submissions under its updated system, which has cleared prior backlogs and allows the new cycle to proceed without legacy delays, it said.PJM replaced its earlier first-come approach with a first-ready model, giving priority to projects that demonstrate greater readiness and clearer paths to development, PJM said.Developers must now prove project viability upfront through financial commitments and site control, a move PJM designed to limit speculative entries and accelerate approvals, the report said.Interim Chief Executive David Mills said the redesigned process aims for faster approvals while maintaining system safety, adding that favorable market signals continue to attract developer participation.PJM is also using HyperQ, an artificial intelligence tool developed by Google's Tapestry, to scan and assess large volumes of application data more efficiently, according to the report.The tool is already supporting document reviews and may reduce study timelines, while PJM plans to monitor its effectiveness during the first cycle, according to the report.The 811 applications include 349 storage projects, 157 natural gas, 142 solar, 65 wind, 45 hybrid, 27 nuclear, 11 hydro, and 15 other proposals, the report said.Total capacity stands at 220 GW, led by natural gas at 105.8 GW and storage at 66.5 GW, followed by nuclear, solar, and other sources, the report said.PJM expects electricity demand to rise by over 30 GW between 2024 and 2030, driven mainly by data centers, with supply growth lagging and increasing reliability concerns, the report said.Since 2020, PJM has processed over 300 GW of projects and secured 103 GW in agreements, though permitting and supply issues continue to slow construction, the report said.

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Commodities56d ago