Author: Graham Foster

Overview A recent report from Grid Strategies suggests that U.S. electricity demand could surge by 128 gigawatts (GW) over the next five years. This increase is primarily anticipated due to the growth of data centers and manufacturing across six major regions in the country. This forecast indicates a significant uptick in electricity needs, representing a five-fold rise compared to past projections. Key Points John Wilson, Vice President of Grid Strategies, highlighted that the latter half of this decade could witness a 3% annual average load growth, a level not seen since the 1980s. The report’s findings stem from annual reports…

As Danish renewable energy giant Ørsted works to rebuild its reputation after a tough year, its competitor Equinor from Norway has been quietly increasing its stake in Ørsted. In October, Equinor announced it has taken a 10% stake in the company, expressing its intention to be a supportive shareholder. This move shows that despite challenging times, there is still faith in Ørsted, whose stock has plummeted by about 70% since 2021 due to management troubles and economic challenges. Furthermore, Equinor sees this investment as a cost-effective way to further its own decarbonisation efforts, especially as it moves away from fossil…

The oil and gas industry in the UK North Sea has faced increasingly challenging conditions over the last 18 months, much like the unpredictable weather of Scotland’s northeastern coast. This region, already known for its aging infrastructure and decreasing production, has encountered more difficulties due to the UK’s “energy profits levy,” a windfall tax that was introduced in May 2022 and has seen multiple increases since then. Operators in UK waters are now at a crossroads: they can either exit the market, diversify their operations to minimize exposure to the North Sea, or merge with others to achieve cost savings.…

Bitcoin has been a topic of much debate, but there’s one undeniable fact: its environmental footprint is significant. This year, the machines that mine for bitcoin have consumed 146 terawatt hours (TWh) of electricity. To put that in perspective, that’s more electricity than Sweden uses in a year. As bitcoin prices soar to around $100,000, interest in mining is inevitably growing. However, amid this surge, one company, Mara Holdings, is taking a step toward sustainable mining with its recent acquisition of a wind farm in Texas. Mara’s plan is to generate bitcoin primarily during windy days, projecting that they could…

PSEG Settles for $6.6 Million Over Inaccurate Information Public Service Electric and Gas (PSEG) has agreed to a settlement of $6.6 million due to allegations regarding the provision of inaccurate data related to a $546 million transmission project. This settlement was approved by the Federal Energy Regulatory Commission (FERC) as part of its oversight of the PJM Interconnection’s Regional Transmission Expansion Plan process. FERC’s enforcement investigation revealed that PSEG failed to follow the agency’s rules by not delivering accurate and factual information concerning the condition of power line towers. While PSEG did not admit or deny the claims, the fine…

Everyone loves a good deal, and right now, one potential opportunity lies within the realm of renewable energy infrastructure funds. However, investors should be aware of the risks involved. Traditionally, these funds focus on owning solar and wind farms. In recent years, they’ve branched out into areas like hydrogen and battery storage. This diversification allows them to generate a reliable income that usually adjusts with inflation, making these investments appealing for those seeking consistent returns. Unfortunately, the past three years have not been favorable for this sector. Rising interest rates have made government bonds seem like a more attractive option,…

Opec+, the oil-producing coalition led by Saudi Arabia and Russia, has announced a significant delay in its production plans for 2025. The group will push back the reintroduction of 2.2 million barrels per day (b/d) until April and extend the timeline for this increase over the next 18 months. This decision comes after they had initially planned to start this increase in January. Additionally, the United Arab Emirates will also postpone its planned increase of 300,000 b/d until April, according to Opec’s announcement on Thursday. As a result, analysts predict that Opec+ will produce about 800,000 b/d less oil in…

In the world of fashion, some trends simply refuse to fade. A perfect example is the love some have for skinny jeans, like the iconic style of Kate Moss. Similarly, in the corporate landscape, a structure known as the dual-listed company (DLC) has its own devoted following. A DLC structure allows two companies to maintain their separate legal identities and stock market listings while operating as one business. This approach can offer certain benefits, such as potential tax advantages. However, many analysts now view DLCs as outdated and possibly detrimental, especially when it comes to major mergers and acquisitions (M&A).…

The Federal Energy Regulatory Commission (FERC) has taken decisive action against Ketchup Caddy and its owner, Philip Mango. In a recent ruling, they were ordered to pay nearly $27 million after it was found that they had manipulated the demand response resources within the Midcontinent Independent System Operator (MISO) capacity market. FERC charged that Ketchup Caddy and Mango were involved in deceptive practices aimed at defrauding the market and its participants. They were ordered to pay $25 million in civil penalties, while Mango faces a $1.5 million penalty, along with the return of over $506,000 in unjust profits. Despite cooperating…

Dive Brief: Donald Trump has selected Paul Atkins, an advisor in financial services and former regulator, to head the Securities and Exchange Commission (SEC), as noted in a statement shared on his social media platform, Truth Social. Currently, Atkins serves as CEO of Patomak Global Partners, a consultancy he started in 2009. Before that, he was an SEC commissioner from 2002 to 2008, where he advocated for more transparency within the agency. His appointment has raised alarms among experts focused on Environmental, Social, and Governance (ESG) issues, who fear he may reverse initiatives introduced by the current SEC chair, Gary…