Britain, the first country to use coal for electricity, has had its first working day with zero generation from the fossil fuel last Friday, signalling the energy system in the UK is changing, Kallanish Energy learns from energy provider National Grid.
UK’s energy utilities Centrica and SSE saw their shares drop 4-5% on Monday following pledges by the Conservative party to cap domestic energy prices in the country, if it was to win the election manifesto proposed to June 8, Kallanish Energy reports.
The UK government announced on Thursday the sale of its Green Investment Bank (GIB) to a Macquarie-led consortium for £2.3 billion ($2.94 billion), making a “substantial profit” out of the privatization, Kallanish Energy reports.
Australian bank Macquarie committed on Thursday to target £3 billion ($3.84 billion) of new investment in green energy projects in the UK over the next three years, either directly or by arranging capacity from other investors, Kallanish Energy reports.
Norwegian and Swedish authorities agreed that Sweden may extend a joint subsidy scheme for the development of renewable energy, targeting to add another 18 terawatts hour (TWh) capacity by 2030, while Norway will keep its current target of 13.2 TWh by 2020.
Russian’s state-owned gas company Gazprom has granted Belarus a discount of at least $3 per 1,000 cubic meter on its natural gas supplies from 2018, Belarus Deputy Prime Minister Vladimir Semashko said last weekend in a televised interview.
Ukraine’s energy sector could lose up to $3.65 billion in investments if the government and state-run gas company Naftogaz don’t come to an agreement regarding the projects proposal, due to be submitted to China Development Bank by year-end, Kallanish Energy learns.