Author: Graham Foster

Canada Expands LNG Ambitions Canada is on track to significantly increase its liquefied natural gas (LNG) output. Prime Minister Mark Carney has unveiled plans to expand an existing facility and expedite approval for a new project aimed at positioning Canada as a leading energy producer worldwide. Carney, who previously advocated for greener policies, is now shifting focus to the nation’s abundant fossil fuel resources. This move aims to lessen Canada’s dependency on U.S. markets and revitalize its economy, which has faced challenges due to tariffs imposed by the U.S. government. Last week, Carney introduced a major initiative dubbed “nation-building projects,”…

Empowering utilities to handle their own technology needs can have significant benefits for the entire energy system. Traditionally, self-service options in the energy sector have focused on helping customers manage their accounts, change tariffs, and solve issues without contacting support. However, a new form of self-service is now emerging specifically for the utilities themselves, especially amid the ongoing wave of digital transformation. It is becoming essential for utilities to independently meet their own technological requirements, allowing them to innovate, streamline processes, and integrate systems without relying on lengthy external coding assistance. This self-management of technology means that teams can directly…

China is rapidly transforming into the world’s leading clean energy superpower, and its significance is just starting to be recognized. While discussions about how Europe and the US should respond are common, the effect of this shift on developing countries has been overlooked. The availability of affordable Chinese clean technology could enable nations worldwide to decrease their dependence on fossil fuels and reduce emissions in transportation and heavy industry. One of the most prominent sectors in this change is electric vehicles (EVs). Ilaria Mazzocco, an expert on Chinese industrial policy and EVs, shared insights in a recent conversation about the…

Welcome back to Energy Source, coming to you today from New York and Brussels. Oil prices have dropped sharply this year, causing a slowdown in activity for US oil and gas deals. However, a recent merger between Permian producers SM Energy and Civitas Resources, worth $13 billion, may indicate a revival in the sector’s enthusiasm. In a related move, BP has agreed to sell non-controlling stakes in some of its shale assets to Sixth Street, a US investment firm, for $1.5 billion. Additionally, Japanese energy company Jera has acquired natural gas assets in the Haynesville basin from Williams Companies and…

Recent Developments in Power Transmission The Southwest Power Pool (SPP) board has approved a hefty $8.6 billion plan for 50 new transmission projects across its 14-state area. This is aimed at addressing increased peak demand, which is anticipated to double to 109 GW within the next decade. A pivotal element of this plan involves creating a 765-kV transmission backbone, which has the capacity to carry four times more power than current 345-kV lines, all while operating more efficiently. The current transmission system is at its limit, and simply adding new power sources won’t suffice. These 765-kV lines represent the highest…

High oil prices can boost the stocks of major oil companies. However, lower prices might actually offer better opportunities for value creation. When oil prices drop, companies that are struggling may sell off assets for quick cash, while those with savings can scoop up these bargains. Currently, oil storage has seen a significant increase this year due to OPEC ramping up production. The International Energy Agency (IEA) anticipates an oversupply of 4 million barrels per day next year. OPEC has indicated it will hold back on further production increases, and restrictions on Russian oil might affect exports, yet oil prices…

In its recent earnings report for the third quarter, First Solar revealed several challenges it faces regarding solar panel components made overseas. These hurdles include potential new tariffs on imported polysilicon components, possible retroactive duties on imports from June 2022 to June 2024, and upcoming guidance from the Treasury Department related to domestic content in clean energy equipment. CEO Mark Widmar emphasized that First Solar’s domestic supply chain positions the company well amid these trade tensions. He stated, “While trade and policy developments have introduced new challenges, we continue to provide our customers with reliable pricing and delivery.” In a…

Pine Gate Renewables, a solar power generator based in North Carolina, has filed for Chapter 11 bankruptcy, marking a significant development in the renewable energy sector. This is the largest bankruptcy for a renewables developer following recent cuts to solar and wind tax credits initiated during Donald Trump’s administration. The company filed for bankruptcy protection in Texas on Thursday, reporting assets and liabilities between $1 billion and $10 billion. Among its creditors are major firms like Carlyle and Brookfield, from which it borrowed $150 million and $300 million, respectively, this year. In a statement made to the court, Pine Gate…

Welcome to the latest edition of Energy Source, reporting from New York. On Wednesday, President Trump tried to brush off the impact of recent losses faced by his party in crucial elections across the US. Voter concerns centered on affordability, especially regarding rising electricity bills in places like New Jersey and Virginia. In response, New Jersey’s new governor, Mikie Sherrill, promised to declare a “state of emergency” to freeze utility rates immediately upon taking office. Abigal Spanberger, who won the governorship in Virginia, stated her commitment to increasing energy production while ensuring that large utility consumers contribute their fair share.…

Southern Company, which supplies energy to 9 million customers in the Southeast, is gearing up for significant growth. During its recent third quarter earnings call, the company announced a pipeline of over 50 gigawatts (GW) in potential new large customer demand over the next ten years. CEO Chris Womack highlighted that they’ve recently signed contracts with large clients in Georgia and Alabama, which collectively account for more than 2 GW of new demand. CFO David Poroch emphasized the importance of strong customer protections to mitigate potential rate increases tied to this new load. The company’s subsidiaries, including Georgia Power, Alabama…