electricity

U.S. Power Grid Said to Need Reinforcements to Ensure Reliability

U.S. Power Grid Said to Need Reinforcements to Ensure Reliability

Accelerating innovation is among the long list of recommendations needed to strengthen the U.S. power grid, according to the National Academies of Sciences, Engineering, and Medicine.  The report, mandated by Congress, came in the wake of the winter freeze last month that severely strained the power grid in Texas and other states. In the report,…

March 4, 2021
Mexico’s AMLO Touts Amended Ethane Contract, New Electricity Law as Sector Unease Mounts

Mexico’s AMLO Touts Amended Ethane Contract, New Electricity Law as Sector Unease Mounts

Mexico’s president and the CEO of its state oil company Petróleos Mexicanos (Pemex) said Wednesday that the terms of an ethane supply contract between Pemex and petrochemicals firm Braskem Idesa (BI) have been amended. The changes would benefit Pemex, said President Andrés Manuel López Obrador and Pemex CEO Octavio Romero Oropeza, although BI had yet…

March 3, 2021
April Natural Gas Futures Eke Out Gain on Tail of Strong Cash Prices

April Natural Gas Futures Eke Out Gain on Tail of Strong Cash Prices

Natural gas futures on Monday hovered in a narrow range of gains and losses as traders weighed outlooks for mild spring weather and its dampening effect on domestic demand against a recovery in liquefied natural gas (LNG) levels. The April Nymex contract ultimately settled at $2.777/MMBtu, up six-tenths of a cent day/day, supported by strength…

March 1, 2021
Mexico Energy Investors Looking to Biden, USMCA to Defend Interests, Expert Lawyer Says

Mexico Energy Investors Looking to Biden, USMCA to Defend Interests, Expert Lawyer Says

“Investors are waiting to see if U.S. President Biden will defend the interests of the North American companies that have money invested in Mexico and that are financed by development banks in North America,” Antonio Prado, seasoned international lawyer and executive at consultancy EnerSalpra, told NGI’s Mexico GPI.  “There’s a lot of hope that there…

February 26, 2021
Record-Setting Cold Lifts Algonquin Natural Gas to $16, OGT Says Hold My Beer

Record-Setting Cold Lifts Algonquin Natural Gas to $16, OGT Says Hold My Beer

Unfazed by the tumultuous weather pattern circulating throughout much of the United States for the next week or so, natural gas futures closed Thursday with a whimper. A big bearish miss on the latest storage data sealed March Nymex futures’ fate early in the session, with the contract ultimately slipping 4.3 cents to $2.868/MMBtu. April…

February 11, 2021
Move to Strengthen Mexico State Power Firm Said Step to Dismantling Energy Reform

Move to Strengthen Mexico State Power Firm Said Step to Dismantling Energy Reform

President Andrés Manuel López Obrador, reported to be recovering from the effects of the coronavirus in the National Palace, on Monday submitted a bill to congress that could change the rules of the game in the Mexican electricity market. Analysts and sector participants have said the proposed changes to grant state power company Comisión Federal…

February 4, 2021
Wholesale U.S. Power Prices Lower, Less Volatile in 2020

Wholesale U.S. Power Prices Lower, Less Volatile in 2020

Domestic wholesale electricity prices were lower and less volatile in 2020 versus 2019, though in the latter half of the year, prices did trend higher for western states, the Energy Information Administration (EIA) said Friday.  Prices in the California Independent System Operator (CAISO) market were 5% lower, while the Electric Reliability Council of Texas (ERCOT)…

January 14, 2021
Renewable Capacity Additions to Far Outpace Natural Gas in 2021, EIA Electricity Data Show

Renewable Capacity Additions to Far Outpace Natural Gas in 2021, EIA Electricity Data Show

Renewables will account for a substantial majority of the new U.S. utility-scale electric generating capacity planned to start commercial operation this year, with natural gas coming in a distant third behind solar and wind, according to data from the Energy Information Administration (EIA). Developers and power plant owners plan to add 6.6 GW of natural…

January 12, 2021
CME to Launch Asian LNG Futures Contracts Aimed at Japanese Power Producers

CME to Launch Asian LNG Futures Contracts Aimed at Japanese Power Producers

CME Group said late Wednesday it plans to launch two Asian liquefied natural gas (LNG) futures contracts and four Japanese electricity futures contracts in February. While the electricity contracts would expand CME’s suite of global power futures and options, the two LNG contracts could provide Japanese power producers another tool to manage price risk, the…

January 7, 2021
Mexico’s CFE Blames ‘Intermittent’ Renewable Generators for Massive Blackout

Mexico’s CFE Blames ‘Intermittent’ Renewable Generators for Massive Blackout

Leaders of Mexico’s state power utility Comisión Federal de Electricidad (CFE) on Tuesday blamed renewable energy and a brush fire for a massive Dec. 28 power outage that took 8,696 MW of electricity offline, causing about one-third of the country to lose power.  Spokesman Luis Bravo Navarro said that while it’s normal for small sections…

January 6, 2021
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