Author: Graham Foster

Rivian Partners with LG Energy Solution for Battery Supply Rivian has entered into a significant five-year battery supply agreement with LG Energy Solution in Arizona, as announced recently. This partnership aims to lower battery sourcing and production costs, reduce battery weight, enhance energy storage, and boost battery pack assembly efficiency by 45%. The new cylindrical batteries produced by LG will be incorporated into Rivian’s upcoming R2 model, expected to launch in North America in early 2026. Insights from Rivian’s CEO During a recent meeting with analysts, Rivian’s CEO, R.J. Scaringe, shared that the partnership with LG Energy Solution has been…

Hello and welcome back to Energy Source, delivering insights from Pittsburgh and Mexico City. On a visit to Pennsylvania, a crucial state in the US presidential race, I observed how the choices made here could greatly impact the energy industry. Donald Trump has promised to roll back environmental protections to boost oil and gas drilling, which could challenge renewable energies under President Joe Biden’s Inflation Reduction Act. However, Trump’s administration may not be a smooth ride for fossil fuel companies. His proposal to impose heavy tariffs on imports might initiate a trade war, causing disruptions in the global economy. High-profile…

Good morning! Welcome to this edition of Energy Source. This week, we find ourselves in Atlantic City, New Jersey, where many leaders from the offshore wind industry have come together to discuss their future. The atmosphere at the conference was noticeably tense due to the upcoming presidential election. The potential for a Donald Trump win has raised concerns among industry leaders, as he has pledged to dismantle the offshore wind sector if he takes office again. Below, we explore what this could mean for the industry. Although offshore wind isn’t a key topic for most voters, a second Trump term…

The Midcontinent Independent System Operator (MISO) and the Tennessee Valley Authority (TVA) have forged an unprecedented pact, allowing the exchange of “emergency energy” between the two entities, a development officially documented in a filing with the Federal Energy Regulatory Commission (FERC) on Thursday. However, notable complexities arise from existing legal constraints within the TVA Act. This act hinders the TVA from directly supplying emergency energy to MISO due to longstanding limitations, which only permit exports to neighboring electric systems with established power exchange agreements dated before July 1957. In light of these constraints, the newly minted agreement empowers Ameren and…

Amidst the relentless grip of historic droughts, vast expanses of South America find themselves teetering on the edge. Hydroelectric dams, once beacons of renewable energy, now falter under the soaring demand, while the Amazon—a once-thriving ecosystem—battles a conflagration that spreads rapidly through its beleaguered flora. As nearly 200 nations converge in the tropical heart of Cali, Colombia for the UN COP16 biodiversity summit, the echoes of climate change crescendo, intensifying the frequency and ferocity of extreme weather phenomena. In Bogotá, famously known for its typically abundant rainfall due to its lofty elevation, residents are now all too familiar with the…

European gas prices have surged to dizzying heights, reaching the pinnacle of this year’s fluctuations as a critical production interruption in Norway sends ripples through an already jittery market, heightening anxieties tied to the ongoing turmoil in the Middle East. The leading gas benchmark on the continent, the Amsterdam-traded Title Transfer Facility, has seen a notable uptick, climbing by as much as 3.6 percent to €43.68 per megawatt hour— a level not witnessed since the frostbitten days of December in the previous year. This dramatic spike arises even amidst an unusual abundance of gas in European storage facilities, which are…

Brief: The U.S. Nuclear Regulatory Commission is set to unveil a proposed rule on October 31, introducing a novel risk-informed, technology-inclusive, performance-based licensing pathway specifically tailored for advanced nuclear reactors, as noted in a pre-publication notice for the upcoming Federal Register. This new pathway, identified as 10 CFR Part 53, modifies the existing regulatory landscape by discarding a second proposed framework and eliminating the quantitative health objectives (QHOs) previously associated with nuclear plant risk assessments, according to the NRC’s disclosures. This transformation under Part 53 is projected to yield substantial financial savings—between $53.6 million and $68.2 million for each license…

Brief: AEP Ohio, alongside a coalition of pivotal stakeholders, petitioned the Public Utilities Commission of Ohio (PUCO) on Wednesday, seeking approval for a comprehensive settlement agreement that delineates the parameters for connecting data centers to the electric grid. The signatories of this agreement comprise PUC personnel, the Ohio Consumers’ Counsel, the Ohio Energy Group, Ohio Partners for Affordable Energy, and retail giant Walmart. In a notable development earlier this month, tech behemoths like Amazon, Google, Microsoft, and Meta aligned with Constellation Energy and other entities to propose an alternative set of rates for data centers and other high-energy consumers for…

Italian energy titan, Eni, has struck a significant deal, agreeing to divest a robust 25 percent stake in its burgeoning biofuel division to the eminent private equity powerhouse, KKR, for a staggering sum of €2.94 billion. This strategic maneuver is a calculated effort by Eni to fuel its ambitious energy transition, paving the way for a multitude of co-investments. KKR’s influx of capital propels the valuation of Enilive, the Milan-based company’s biorefining branch, to a remarkable proximity to €12 billion, as unveiled in a statement released Thursday. Moreover, a substantial €500 million chunk of KKR’s investment is earmarked for injecting…

In a saga intertwining politics and finance, a water company, co-founded by a pivotal Conservative party figure—its treasurer no less—stands at the precipice of a significant investment in Thames Water. This utility giant, grappling with an urgent imperative to secure billions to stave off a looming threat of renationalization, finds itself navigating a tumultuous financial landscape. Castle Water, the very entity that acquired Thames Water’s corporate clientele back in 2017, is contemplating an infusion of fresh equity, a move intended to fortify the balance sheet of the UK’s largest water supplier. Insiders whisper that Castle Water aspires to seize a…