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.

UK

The gas industry regulator Ofgas said in August that more than 3 million households have switched supplier in the past four months.

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.

Azerbaijan

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

International

Slovenia has stopped supplying Croatia with electricity from their jointly-owned Krsko nuclear power plant because Croatia has failed to pay its $14m bill. Croatia has said it will make up for the shortfall by generation from its own capacity.

Oman

Iran`s Power Plant Project Management company has won a $14.8m contract to build a power plant in Salalah, southern Oman. The turnkey contract involves planning, construction and operation of a 30 MW plant.

IPP growth reported

Calpine Corp., one of the fastest growing independent power companies in the USA, has reported record second quarter earnings. Net income for the second quarter rose 23 per cent on the same period for 1997, while revenues jumped 109 per cent to $141.6m.

IPP partnership

US companies Teco Power Services Corp. and Mosbacher Power Partners have agreed to jointly develop, own and operate domestic and international independent power projects. Teco will provide capital and technical expertise to Mosbacher.

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.

Fuel cell agreement

Energy Research Corporation has extended its long term fuel cell license agreement with MTU Friedrichshafen. It will allow the two companies to manufacture and sell each other`s stationary power fuel cell products in their respective regions.

Latest Feature