European Energy Prices to Plummet Amid Solar Boom
Electricity prices across Europe are plummeting towards sub-zero levels this weekend as a surge of summer winds welcomes the peak season for wind power generation.
Data from Epex Spot SE on Saturday showed that energy prices are negative in nearly a dozen countries across the...
G7 Sets New Solar and Energy Goals
The Group of Seven set new big targets for its solar power and offshore wind capacity during its meeting on Sunday, with its members agreeing to accelerate their renewable energy development in an effort to phase out fossil fuels.
This decision comes after a two-day...
Four Nations Sign Agreement to Supply Europe With Azeri Energy
Leaders from Azerbaijan, Georgia, Romania, and Hungary signed an agreement on Saturday to install an underwater electric cable under the Black Sea to deliver green Azeri energy to Europe. This agreement involves a 685-mile electric cable of 1,000 MW under the Black Sea leading...
Results of Russian Energy Price Cap Still Unclear, Saudi Minister Claims
Saudi energy minister Prince Abdulaziz bin Salman stated on Sunday that the effects of European sanctions on Russian crude oil price caps remain to be seen. According to him, the effectiveness of the sanctions' implementation process also remains unclear.
Named the Group of 7 price...
South African Power Utility Eskom Ramps Up Nationwide Power Cuts
South African electricity public utility Eskom has announced that it will implement Stage 6 power cuts starting from Sunday morning. Commonly known as "load shedding", this increase in power cuts comes after the utility implemented Stage 5 on Saturday after five generating units broke...
EU Outlines Plan to Raise $140 Billion to Cope With Energy Crisis
The European Union revealed on Wednesday its plans to raise over $140 billion in an effort to combat the ongoing energy crisis. "EU Member States have already invested billions of euros to assist vulnerable households. But we know this will not be enough," European...