Author: Graham Foster

In the latest update from White House Watch, several key topics are under discussion: Trump’s new tariff plans The future of the Nuclear Non-Proliferation Treaty Growing concern among major U.S. law firms As businesses and investors anxiously await President Trump’s next steps on tariffs, much attention is drawn to “liberation day,” which is set for next week. On this day, the administration will announce its updated tariff strategies. President Trump is contemplating a two-step strategy to implement tariffs. This approach would utilize rarely applied powers to place emergency tariffs while investigations involving trade partners are completed. The underlying goal is…

Dive Brief: On Wednesday, the Texas Senate approved a bill aimed at establishing a new trading program for “dispatchable” power credits. This would require utilities and power companies in the Electric Reliability Council of Texas (ERCOT) area to balance new renewable energy and battery installations with an amount of new dispatchable power starting next year. The definition of “dispatchable” in this bill does not include batteries, meaning companies focused solely on battery storage systems won’t need to meet this new requirement. Some analysts, like Doug Lewin, argue that the legislation is overly restrictive and could harm economic progress in Texas,…

National Grid’s CEO, John Pettigrew, has reassured that the electricity transmission network was fully capable of supplying power to Heathrow during last week’s airport shutdown. The airport was closed for nearly 24 hours in response to a significant fire involving a substation. After the incident on Thursday night, Pettigrew explained that while the North Hyde substation suffered severe damage, two other substations stayed operational throughout the event. He emphasized that all substations have the capacity to provide sufficient power to the airport. Heathrow had to shut down most of its operations on Friday, leading to a major disruption that is…

Calvin Butler serves as the president and CEO of Exelon, while Kenneth Cooper holds the position of IBEW International president. A strong, modern power grid is not just a technical marvel; it’s vital for America’s economic strength and national security. For years, this grid has reliably delivered electricity to cities, small towns, businesses, and crucial services nationwide. However, this long-standing system is now experiencing significant changes. Currently, both the country and the world face unprecedented energy demands. The Electric Power Research Institute (EPRI) forecasts that energy consumption from data centers could more than double by the year 2030. As these…

France’s state auditor, the Cour des comptes, has advised the French nuclear company EDF to hold off on making a final investment decision regarding the Sizewell C reactor project in the UK. The auditor emphasized that EDF should first work on reducing its financial involvement in another British project, Hinkley Point C. On Tuesday, the auditors made these comments shortly after a report indicated that the construction costs for Sizewell C in Suffolk are likely to double to around £40 billion, a significant increase from estimates made in 2020. This surge in cost is primarily due to rising construction expenses…

Sidara from the UAE and the struggling UK-based Wood Group are looking to extend their deadline for takeover talks. They are waiting for a report on Wood’s governance issues, as well as the auditor’s approval of the company’s annual accounts. Last year, Sidara backed out of a deal that was valued at around £1.6 billion for Wood. However, they reopened these discussions about a month ago. Wood’s market value has plummeted to about £300 million, following a February update that revealed ongoing cash flow problems and governance shortcomings. As news of Sidara’s interest came out, Wood’s stock experienced a brief…

The last Energy Source newsletter for this year comes to you from New York. Recently, the Federal Reserve reduced interest rates for the third time this year. However, they indicated that borrowing costs might be higher than expected in 2025. This news caused renewable energy stocks to drop, with the iShares Clean Energy ETF falling by 3.2%. High borrowing costs and uncertain conditions ahead, especially with Donald Trump taking office, have left the renewables sector in a tough spot. In this edition, we reflect on key trends from 2024, such as stable oil markets, notable mergers and acquisitions in the…

Key Highlights: Nissan and SK On have partnered through a new battery supply agreement aimed at enhancing Nissan’s electric vehicle (EV) production in North America, as revealed in a recent press release. This $661 million agreement ensures that SK On will provide Nissan with approximately 100 GWh of high-nickel batteries between 2028 and 2033. The batteries manufactured in the U.S. will be used at Nissan’s assembly facility located in Canton, Mississippi. Analysis: This agreement marks a significant step for Nissan as it aims to expand its electric vehicle manufacturing capabilities in the U.S. The automaker is also seeking new collaborations…

In a recent phone call with Ukrainian President Volodymyr Zelenskyy, President Donald Trump proposed the idea of the United States taking control of Ukraine’s nuclear power plants. This conversation took place just a day after Trump had discussed peace efforts with Russian President Vladimir Putin, as part of his attempts to find a resolution to the ongoing war in Ukraine. According to U.S. Secretary of State Marco Rubio and National Security Adviser Mike Waltz, Trump highlighted that the U.S. could effectively supervise Ukraine’s energy facilities, offering its expertise to ensure the safety of these crucial resources. Rubio and Waltz indicated…

The United States has recently imposed sanctions on two Chinese petrochemical companies due to their alleged involvement in importing Iranian crude oil. This move represents another phase of President Trump’s “maximum pressure” strategy aimed at the Iranian government. The U.S. State Department specified that it sanctioned the Huaying Huizhou Daya Bay Petrochemical Terminal for violating American regulations by purchasing and storing Iranian oil that had been transported to China on a sanctioned vessel. Additionally, the Department of the Treasury targeted Luqing Petrochemical for acquiring Iranian oil via ships associated with the Houthis and Iranian military forces. Notably, this marks the…