Author: Graham Foster

The Federal Energy Regulatory Commission (FERC) has announced a review addressing the colocating of large loads, such as data centers, at power plants within the PJM Interconnection. This decision was made during FERC’s monthly meeting on Thursday, with Chairman Mark Christie highlighting the significant implications this could have on system reliability and consumer interests. Christie noted that utilities have a responsibility to accommodate new customers while ensuring fairness in the process. This review is timely due to the growing number of data centers emerging across the U.S., primarily driven by the rise of artificial intelligence. By placing data centers near…

Key Highlights: A recent agreement has been made between Rocky Mountain Power, a subsidiary of PacifiCorp, and Utah’s Torus. This partnership aims to add 70 MW of commercial and industrial demand response capabilities to the Wattsmart Battery program within the next 12 to 18 months, according to an announcement made by Torus on February 7. Torus has already secured approximately one-third of the project’s expected capacity and is currently in the process of obtaining the necessary permits and approvals for deployment, as stated by Torus founder and CEO Nate Walkingshaw. Governor Spencer Cox of Utah praised this partnership, highlighting it…

Jadestone Energy is showing promising signs of growth with its new Akatara onshore gas project. After facing several challenging years, the company is now shifting its focus towards generating cash flow. In its recent end-of-year update, Jadestone, which primarily operates in Asia, reported record production levels. They expect to see further growth in 2025. Notably, Tyrus Capital, a major shareholder, has increased its stake to 26.6% by purchasing 900,000 additional shares on February 6. The end of 2024 also saw a surprise change in leadership as Paul Blakeley, who transformed Jadestone into a productive entity, was replaced as CEO. Under…

US oil producers are cautious about re-entering the Russian market, even if a peace agreement is reached between Moscow and Kyiv. Harold Hamm, a notable figure in the shale oil industry and founder of Continental Resources, shared his thoughts, stating that many companies have suffered heavy financial losses in Russia in the past. Hamm emphasized that the complex environment in Russia makes American firms reluctant to invest there again, saying, “A lot of people lost a whole lot of money over there.” Recent discussions between US and Russian officials have sparked speculation regarding the possibility of American companies returning to…

French energy company EDF is facing challenges in securing alternative investors for its major Hinkley Point C nuclear power plant project. This comes as funding support from its Chinese partner has been halted, adding financial pressure to the already debt-heavy company. Luc Rémont, EDF’s CEO, mentioned that the company has engaged in discussions with various potential investors throughout 2024 but has not finalized any agreements yet. During a recent announcement of EDF’s annual results, he noted that while they are meeting the financing needs, the lack of capital injection from Chinese investment partner CGN is making the situation more difficult.…

Europe is currently facing a significant challenge as it attempts to transition to a net-zero energy system while simultaneously strengthening its defense capabilities. This dual focus is demanding substantial investment—estimates suggest an additional €300 billion per year will be needed for clean energy projects through 2030. On top of this, European nations are considering increasing defense spending to about 3.5% of their GDP, which would require similar financial resources. Recent trends in the market indicate that investors are prioritizing defense over green initiatives. Companies like Rheinmetall and Safran, which focus on defense, have exceeded the performance of many firms involved…

The electric grid is facing many challenges that seem overwhelming. People wonder how much of the expected load growth is exaggerated and how much is genuine concern. There are pressing questions about how to upgrade the grid without placing an unfair financial burden on everyday consumers. Additionally, utilities must strategize on preparing for disasters like floods, fires, and storms. It’s crucial that our modern energy grid serves everyone, despite the varying state policies and resources across the nation. While these questions are complex and won’t be resolved instantly, there’s an innovative solution available today that could streamline countless energy projects…

What can be considered the worst acquisition in business history? Numerous examples come to mind, including the disastrous merger of AOL and Time Warner in 2000, and the Royal Bank of Scotland’s £49 billion purchase of ABN Amro in 2007. However, there are also smaller acquisitions that serve as meaningful lessons about the risks involved in company transformation. Take, for instance, Wood Group’s £2.2 billion takeover of Amec Foster Wheeler in 2017. Wood Group, based in Aberdeen, built its reputation by winning engineering contracts in the oil and gas sector. At its height, the company’s market capitalization exceeded £5.3 billion.…

Hong Kong’s CK Infrastructure has made a preliminary bid of £7 billion to acquire a majority stake in Thames Water. This move comes amid significant challenges facing the utility, as CKI wants its bondholders to accept large reductions in their claims. CKI, which is part of the CK Hutchison group, submitted its non-binding offer earlier this month, according to sources close to the matter. The proposed investment is aimed at stabilizing Thames Water’s finances, which are currently troubled due to a heavy debt load. The company is grappling with nearly £20 billion in debt, and in order to move forward,…

As we move forward into 2025, the conversation about the energy consumption of artificial intelligence (AI) is becoming more urgent. The rapid growth of AI is placing huge demands on the global energy system, raising concerns about whether our current infrastructure can meet these needs effectively. AI currently consumes about 4% of the electricity used in the U.S., with projections suggesting this could rise to 11% by 2030. This significant increase highlights the importance of reassessing how AI impacts our energy targets, infrastructure, and availability of resources. The interest in AI development is not slowing, with a recent executive order…