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    Testing To Be Performed On The First Hydrogen-Powered CTV

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    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

    Germany Prepares for Hybrid War as Russia Cuts Gas to Europe

    Germany Prepares for Hybrid War as Russia Cuts Gas to Europe

    EIB to finance new medium-size onshore wind farm in Poland

    Offshore Wind Sector Will Have More Than Doubled By 2031

    Argentina reveals its nuclear new build plans

    Nuclear Power To Play Key Role in Securing Energy Shifts

    India Experiences A Boom In Investment In Renewable Energy

    India Experiences A Boom In Investment In Renewable Energy

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    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

    GE's digital power transformers selected for multiple projects across the globe

    GE’s digital power transformers selected for multiple projects across the globe

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    EIB to finance new medium-size onshore wind farm in Poland

    Making The Largest Offshore Wind Farm Project A Reality

    Testing To Be Performed On The First Hydrogen-Powered CTV

    Testing To Be Performed On The First Hydrogen-Powered CTV

    A Significant Step Towards Clean Energy- Green Hydrogen

    In Green Hydrogen, Germany Aims To Invest EUR 3.6 Billion

    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

    Germany Prepares for Hybrid War as Russia Cuts Gas to Europe

    Germany Prepares for Hybrid War as Russia Cuts Gas to Europe

    EIB to finance new medium-size onshore wind farm in Poland

    Offshore Wind Sector Will Have More Than Doubled By 2031

    Argentina reveals its nuclear new build plans

    Nuclear Power To Play Key Role in Securing Energy Shifts

    India Experiences A Boom In Investment In Renewable Energy

    India Experiences A Boom In Investment In Renewable Energy

  • Market Moves
    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

  • Press Statements
    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

    GE's digital power transformers selected for multiple projects across the globe

    GE’s digital power transformers selected for multiple projects across the globe

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In A Move To Avert Blackouts Australia Halts Power Market

in Market Reports, News
Enel plans to expand power distribution business into US

In the wake of a slew of coal-fired plant outages, Australia’s energy market administrator took the unprecedented step of suspending the power spot market across eastern Australia on 15th June 22.

Despite the extraordinary step, the market operator warned that power supplies remained constrained and advised families in New South Wales, the country’s most populous state, to conserve electricity, its first official request since the country’s power crisis unfolded in May. This drastic move occurred after the operator froze wholesale prices at the start of the week, i.e., on June 13th, as mandated when they exceeded a certain threshold, prompting some generators to stop supplying power since the restricted price of A$300 per megawatt hour (MWh) was insufficient to cover their costs. To avoid blackouts in New South Wales and Queensland, the market operator ordered generators to furnish 5 gigawatts (GW) of power, that they had supplied to the market on 14th June.

During the market interruption, the market operator claimed it will set the prices and compensate generators for their expenses. The circumstances in recent days has caused challenges to the whole energy business, AEMO chief executive Daniel Westerman said in a statement. Waiving the market would ease operations during the severe disruptions across the energy supply chain.

The move was applauded by the Australian government.

This is the best approach to ensure the lights stay on, energy minister Chris Bowen said in a twitter message. AEMO has the government’s complete backing in taking this move is what the post said. In light of the price caps, unforeseen outages, and coal and gas supply issues, Westerman said it was natural that generators had held back output, but having to command generators to produce supply had made it nearly impossible to sustain normal market operations. The operator would have clear visibility into which units are available and when in a timely manner if it took control of the market, allowing it to ensure reliable supply.

Despite this, conditions are expected to stay tight in the coming days, particularly in New South Wales, where they would encourage consumers to conserve energy when it is safe to do so, Westerman said in a televised press conference.

Many variables, including scheduled and unplanned outages at numerous coal-fired facilities, times of low wind and solar production, a deep freeze, and near-record global coal and gas prices, have added to Australia’s increasing electricity and gas prices during the past three weeks.

Coal-fired power stations typically generate roughly 65% of eastern Australia’s electricity, but more than a quarter of that output is inaccessible. To compensate, the market has forced to rely on additional gas- and diesel-fired production at a time when gas and diesel costs have risen dramatically.

People are living in extremely difficult times. Anyone can see that the market is currently unable to deal with all of the forces that have been thrown at it. Those factors are, to be honest, pretty extreme, according to Westerman. AGL Energy and Origin Energy, Australia’s two largest power producers, said they were collaborating with the market operator to maintain consistent supply.

Origin’s chief of operations, Greg Jarvis, said they feel there has to be an urgent focus on how to bring as much electricity capacity into the market quickly, including resolving coal supply and transport bottlenecks to a number of plants.

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