With a growing commitment among energy companies to tackle climate change, open interest across Intercontinental Exchange Inc.’s (ICE) environmental complex reached a record high last week. The environmental complex, which includes futures and options connected to ICE’s European and California Carbon allowances, Regional Greenhouse Gas Initiative and renewable energy credits, hit record open interest of…
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Natural Gas Utilities to Play Key Role in Decarbonization, Says Sempra Chief
Natural gas utilities can help lead the transition to a carbonless energy future in the United States, Sempra Energy CEO Jeffrey Martin said last week. California, where two of Sempra’s three major U.S. utilities operate, has a regulatory proceeding to develop a strategy for a phased approach to developing a multi-decade strategy for gas. Martin…
Enbridge Outlines ESG Goals, Including Net Zero Emissions by 2050
On fronts from climate change to gender and racial equity, Enbridge Inc. has promised to march in step with avowedly “progressive” government and investor agendas for the next three decades. “The energy industry is in the midst of transition and we recognize the need to adapt to the changing expectations of our customers,” said the…
Jera to Shutter Inefficient Japanese Coal Plants by 2030 in Move to Net-Zero Carbon Goal
Japan’s biggest power producer Jera Co. Inc. plans to shutter all its inefficient coal-fired generators in the country by 2030 as it works toward zero carbon emissions by 2050. Jera, a joint venture between utilities Tokyo Electric Power Co. and Chubu Electric Power Co., on Tuesday unveiled more specific plans to move to net-zero carbon…
China Chasing Carbon Neutrality by 2060, but LNG Imports Unlikely at Risk
China is aiming to achieve peak carbon dioxide (CO2) emissions before 2030 and carbon neutrality before 2060, President Xi Jinping said Wednesday. In an address to the United Nations (UN) General Assembly focused largely on the need for a coordinated global response to the Covid-19 pandemic, Xi said China will scale up its Intended Nationally…
Xcel Says Natural Gas to Remain Key in Lower Carbon Energy Strategy to 2050
Moving toward its goal of 100% carbon-free electricity to customers by 2050, Minneapolis-based Xcel Energy Inc. said it still plans to incorporate more natural gas into its U.S. energy mix. Xcel released its sustainability report ahead of 2Q2020 results, which were issued on Thursday. CEO Ben Fowke said the utility is stepping up its capital…
Oil, Gas Companies Quickly Expanding Renewables to Operations, Says IHS Markit
As part of efforts to reduce carbon emissions associated with operations, oil and gas operations are in the early stages of being fueled by renewable energy, according to global critical information provider IHS Markit. Analysis by IHS Markit shows that while renewable energy is playing a minor role in oil and gas operations, it has…
DTE Gas Working to Reduce Michigan’s Carbon Footprint with Aggressive Initiatives
Detroit’s DTE Gas is ramping up its efforts in going green, joining its parent company with a goal to achieve net zero carbon emissions by 2050. The greenhouse gas (GHG) reduction goals, an expansion of DTE Energy Co.’s 2018 ambitions to reduce methane emissions by 80%, include partnering with customers to address up to 100%…
CEC Provides Support for Gas Technology in Flood Processing
The California Energy Commission (CEC) has approved $19.4 million in grants to help food producers reduce energy use and cut the state’s greenhouse gas (GHG) emissions. Seven of the eight grants involve enhanced natural gas technologies.
Efforts to Incentive RNG Development Underway in California
A system to encourage funding to develop and use renewable natural gas (RNG), or biomethane, has been established by California regulators with support from state utilities and national laboratory researchers.