Author: Graham Foster

Constellation Energy has announced a significant acquisition, agreeing to purchase fellow power producer Calpine for nearly $27 billion. This merger combines two of the largest electricity providers in the United States at a time when the demand for power is expected to soar, fueled largely by advancements in artificial intelligence. The deal is among the most substantial in the U.S. power industry and will serve around 2.5 million customers, as stated in a joint release by both companies on Friday. Constellation plans to acquire Calpine for $16.4 billion, which consists of $4.5 billion in cash and 50 million shares of…

The U.S. Department of Energy has announced it will offer a loan guarantee of $1.76 billion to Hydrostor for its planned 500 MW/4,000 MWh Willow Rock energy storage facility located in Southern California. This technology utilizes advanced compressed-air energy storage (A-CAES), which will provide up to eight hours of energy during peak times. The aim is to lower energy costs, enhance grid reliability, and promote the use of renewable energy in California. Scott Bolton, Hydrostor’s executive vice president, stated that the company is nearing the final stages of obtaining necessary permits from local and state authorities. Construction of the facility…

It seems that many energy market experts believe that President Trump could successfully bring down oil prices, possibly even more so than during Biden’s presidency. Currently, Brent crude prices have been stuck in the $70 range for several months. This is occurring even though Opec+ members recently decided to slow their production increases, which was seen as a way to balance expected surpluses. Interestingly, Trump’s tough stance on Iran could further limit oil supply from there. Under Biden, Iranian oil exports peaked at about 1.8 million barrels a day, while they were significantly lower under Trump’s administration at just 0.4…

Hello! Today we’re bringing you the latest updates from the energy sector, straight from London. Wednesday proved to be quite an eventful day for the UK’s electricity market. The National Energy System Operator, which manages the national grid, had to instruct power generators to step up their output as wind speeds fell and imports from cables were already nearing their limits. According to Phil Hewitt, director at Montel Analytics, this was the “tightest day so far this year.” Gas power stations were even requesting exceptionally high prices to generate power, with one facility asking for £5,750 per megawatt-hour, while the…

Fervo Energy Secures $255 Million to Expand Geothermal Projects Fervo Energy, known for harnessing the Earth’s heat to produce clean electricity, recently announced it has secured $255 million in funding to further develop its geothermal projects across the United States. The company aims to create the world’s largest enhanced geothermal systems to meet the increasing demand for reliable clean energy. This funding includes $135 million in equity financing led by Capricorn Investment Group and $120 million in debt from the Swiss energy firm Mercuria. Innovative Technology for Geothermal Energy Fervo uses unique technology to drill horizontally into geothermal reservoirs. This…

Nuclear energy companies are focusing on creating smaller reactors, resembling the size of shipping containers, to compete with electric batteries as a notable zero-carbon energy source. Leading this initiative is Westinghouse, which aims to develop “microreactors” that could effectively replace diesel and natural gas generators that currently power various operations, including data centers and remote, off-grid communities. Jon Ball, who heads the eVinci microreactor program at Westinghouse, explained that the original aim was to find energy solutions for remote areas that heavily rely on costly diesel. However, the interest in these microreactors has expanded significantly, and the company believes this…

Scotland is set to become home to the three largest battery energy storage systems in Europe, thanks to a significant investment of £800 million from Copenhagen Infrastructure Partners. This investment will fund the construction of two new battery projects, Coalburn 2 and Devilla, which will provide a combined power capacity of 1.5 gigawatts. The construction of Coalburn 2, located in South Lanarkshire, and the Devilla project in Fife is expected to begin shortly. Both facilities are scheduled to begin operations by 2027-2028 and will complement the Coalburn 1 project, which is already under construction and slated to start in October…

Shell has lowered its gas production outlook for the final quarter and indicated that trading in its gas and chemicals sectors is expected to be “significantly lower” than in the preceding months. In a trading statement released on Wednesday, ahead of its quarterly earnings report scheduled for January 30, Shell expressed a more cautious stance after several quarters of exceeding expectations. Jefferies analysts predict this update could lead to a reduction of over 10% in the anticipated earnings of $5.4 billion for the quarter. Biraj Borkhataria from RBC Capital Markets described the news as negative, citing declines across various sectors…

When considering an electric car, many buyers have two main worries: how far they can drive and how safe the batteries are. Solid-state batteries, which use safer materials, promise to address these concerns by reducing fire risks and providing longer driving ranges. However, despite significant efforts and investment over the years, this advanced battery technology still has not been fully developed. Battery manufacturers who have invested heavily in solid-state technology are feeling the pressure, especially as profits shrink and electric vehicle (EV) sales growth slows in developed countries. An immediate solution that improves safety could help these companies buy time…

The Energy Trust of Oregon has signed a five-year contract with CLEAResult, a provider of energy sustainability services, to enhance the energy efficiency of its New Buildings program. Since its launch in 2009, CLEAResult has been instrumental in the New Buildings program, which supports design teams, contractors, developers, and building owners in creating energy-efficient structures that align with the energy goals of Oregon. The collaboration aims to improve building performance and reliability by using comprehensive energy modeling and efficient design practices from the start of the design process. The latest updates to this program introduce three new initiatives: Whole Buildings…