News

The latest news, project announcements, reports, policy, legislation concerning electricity generation across global power and energy sectors, focusing on renewable energy news, fossil fuel, natural gas, hydrogen, clean energy, nuclear power and energy storage. This news will include digitalisation projects and smart grid developments in the power generation space.

Consultancy joint venture

German engineering consultants Lahmeyer International and London-based Environmental Resources Management have joined forces to create a leading environmental consultancy. Their joint venture company, ERM Lahmeyer International GmbH, will market environmental technology.

Last UK utility merger

Southern Electric became the last UK regional electricity company to lose its single status following the announcement of a £4.8 bn ($7.82) merger with Scottish Hydro-Electric.

Utility takeover approval

A #1.36bn ($2.3bn) bid by US energy giant Enron for Wessex Water of the UK will not be referred to the Monopolies and Mergers Commission, the trade and industry secretary has announced. The bid is part of Enron?s strategy to diversify into the water business worldwide.

Bulgaria

The government has announced that electricity prices will be raised by 12 per cent as of January 1, 1999. The move paves the way for a crucial three-year loan agreement with the International Monetary Fund which had wanted the price hike to take place this September.

Oil profits fall

Royal/Dutch Shell has attributed a 17 per cent drop in second quarter net profits to low crude oil prices and the Asian economic crisis. Second quarter net profits were $1.54bn, while first half net profits were down 20 per cent to $3.48bn.

Sidi Krir agreements

The InterGen Sidi Krir Generating Company and the Egyptian Electricity Authority (EEA) have finalized several agreements for the $450m Sidi Krir power project.

PacifiCorp loss

PacifiCorp has reported that its trading operations suffered a $51m pretax loss in 2Q as a result of the Midwest`s volatile market. The losses are almost four times what was predicted and are the cause of a 60 per cent drop in the company`s overall earnings.

Pakistan

The World Bank and the Asian Development Bank are to lend Pakistan $250m for restructuring the Water and power Development Authority (Wapda) and Karachi Electric Supply Corp. The World Bank has also asked that the government allows Wapda to increase its tariffs by 19 per cent.

GreenStar goes small

The GreenStar modules of Series 1, with a power output of 70 kWe (J106) and 150 kWe (J156) has been launched to round off the Jenbacher power output range at the smaller end.

Azerbaijan

Three contracts have been signed between the Azerbaijan government and foreign oil companies for the development of the country`s oil reserves.

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