Tag Archives: Utilities (TRBC level 2)

EUROPEAN POWER – Friday prices rose due to lower German winds, solar power output | Instant News


PARIS, February 25 (Reuters) – European spot electricity prices for delivery on Friday rose on Thursday due to lower forecasts for wind and solar power generation in Germany.

* Over-the-counter baseload prices for Friday delivery in Germany rose 6.2% to 48.30 euros per megawatt hour (MWh) at 1009 GMT.

* France’s future contract added 6.2% to 48.25 euros / MWh.

* Power generation from German wind turbines is expected to fall 1.8 gigawatts (GW) day-on-day to 13.4 GW, while solar generation is expected to drop 2.2 GW to 3.6 GW, Refinitiv data show.

* “We expect wind power output to fall in the first half of the day, and increase in the latter half of tomorrow,” Refinitiv analysts said.

* French wind power supply is expected to increase by 1 GW to 3.6 GW, data show.

* Refinitiv forecast shows the average daily German wind power supply will fall to around 3 GW early next week before rising to 8 GW next Friday.

* France’s nuclear capacity reaches 75% of the total installed.

* More than half of EDF’s nuclear reactors could be operational for a decade longer than planned after maintenance work was carried out, French nuclear security watchdog ASN said on Thursday.

* French electricity demand on Friday is expected to rise 700 megawatts (MW) to 56.9 GW and fall in Germany by 390 MW to 64.2 GW, Refinitiv data show.

* Further along the curve, German Cal ’22 baseload power edged up 0.1% to 53.20 euros / MWh, following higher fuel prices.

* France 2022 contract added 0.2% to 54.25 euros / MWh.

* European CO2 allowances expiring December 2021 edged down 0.1% to 39.10 euros per tonne.

* Coal for northern European delivery in 2022 rose 0.9% to $ 69.1 a tonne, after hitting the highest level since February 1 at $ 69.20 earlier in the session. (Reporting by Forrest Crellin; Editing by Emelia Sithole-Matarise)

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Brazil to cut its stake in Eletrobras to 45% from 61% in privatization – energy secretary | Instant News


SAO PAULO, February 24 (Reuters) – The Brazilian government will cut its stake in power company Centrais Eletricas Brasileiras SA, or Eletrobras, to 45% from the current 61% in the planned privatization process, a senior official at the Energy Ministry told Reuters. Wednesday.

The ministry’s Energy Secretary Rodrigo Limp said the government expects its stake in Eletrobras to double in value to 60 billion reais ($ 11 billion) with the increase in share price that privatization hopes will bring.

President Jair Bolsonaro presented a bill to Congress on Tuesday that would accelerate the divestment in Brazil’s biggest utility.

$ 1 = 5.4062 reais Reporting by Luciano Costa, Editing by Rosalba O’Brien

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UPDATE 1-Italia wants Open Fiber control in the broadband launch drive – source | Instant News


* CDP will not take any precautions on Open Fiber stock sources

* CDP wants a 10% stake in Open Fiber for source control

* TEAM board including CDP Chairman – source (Records by raising stakes, adding comments, background)

ROMA / MILAN, 22 Feb (Reuters) – Italian state lender Cassa Depositi e Prestiti (CDP) wants to increase its stake in Open Fiber to 60% to take control of the broadband company, sources say, as Rome moves ahead with plans to increase ultra-fast connectivity across the country.

CDP will not exercise its first refusal rights on the 50% utility stake that Enel sells in Open Fiber but wants to increase its own stake to 60%, two sources close to the matter said.

Enel, which co-owns Open Fiber with CDP, is in talks to sell 40% to 50% of the fiber infrastructure group to Australian fund Macquarie in June.

Under the deal, Macquarie will pay 2.65 billion euros ($ 3.2 billion) for a 50% stake, although any final price may fluctuate depending on a series of acquisition clauses.

The source said CDP would relinquish its pre-emption rights but entered into talks to buy a 10% stake in Open Fiber from Enel, and negotiate governing rights with Macquarie to take full control.

Former Italian Economy Minister Roberto Gualtieri has tried to create a full-fiber national network by combining Open Fiber with Italian Telecom (TIM) landline assets.

New Prime Minister Mario Draghi has put digital infrastructure at the heart of his government’s agenda, but he hasn’t clarified whether he intends to implement an integrated network project and under what conditions.

Controlled by the Ministry of Finance, CDP is the second largest shareholder of TIM behind French media giant Vivendi but never holds a board seat.

A third source said on Monday that the list of Telecom Italia candidates to be presented for the new council at the annual general meeting would include CDP Chairman Giovanni Porno Tempini.

TIM will reveal the list on Tuesday. The source said the CDP could summon a new council on Thursday to discuss its support for the list.

Telecom Italia and CDP declined to comment while Enel could not be reached for comment. ($ 1 = 0.8229 euros) (Reporting by Giuseppe Fonte, Stephen Jewkes, Elvira Pollina; Editing by Richard Chang)

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Australian macquarie raises guidelines after the US winter freeze | Instant News


SYDNEY (Reuters) – Macquarie Group raised its earnings guidance on Monday, sending stocks to a 12-month high, as the North American energy business’s hefty profits from a winter storm swept Texas and other states.

FILE PHOTOS: The logo of Australia’s largest investment bank Macquarie Group Ltd adorns the main entrance to their Sydney headquarters in Australia, 28 October 2016. REUTERS / David Gray

Macquarie said it expects fiscal 2021 profit to jump by as much as 10%, following warnings two weeks ago that revenues will be “slightly down”.

The energy business unit, which is designed to move large amounts of gas to meet unexpected demand, alone raised the investment bank’s estimated overall return to about A $ 400 million, analysts said.

“Extreme winter weather conditions in North America have significantly increased short-term client demand for Macquarie’s ability to maintain critical physical supplies across the commodity complex,” the company said in a statement.

Macquarie is North America’s second largest gas marketer, after major oil company BP. It purchases natural gas and moves it along pipelines and networks, usually from low-use areas to high-demand markets.

A deadly winter storm that crippled infrastructure and left millions of Texans without electricity forced generators to compete for natural gas supplies, driving up prices sharply in a deregulated market.

Supply difficulties had given Macquarie an unexpected advantage.

“Macquarie appears to be making good use of financial market volatility and dislocation,” Bank of America Securities analysts said in a note, as it raised its earnings forecast for the Sydney-based firm.

Macquarie’s performance last year was hurt by the pandemic, with weak deal-making and worsening economic conditions driving up the cost of impairment.

However, a strong initial public offering of its majority-owned data analytics software business, Nuix, late last year and a refresh in the energy business have helped push its share price back to pre-pandemic levels.

The company, which also operates Australia’s largest asset manager and investment banking business, is bracing for an extra boost from a rebound in local M&A activity this year.

Macquarie shares rose 4.31% to A $ 148.39 early Monday, the highest level in a year, outperforming the broader flat market. Share prices declined slightly in afternoon trading.

Earlier this month, the Sydney-based financial conglomerate had forecast full-year revenue for the group to be “slightly” lower than its 2020 fiscal year.

Macquarie’s Global Commodities and Markets Division accounts for nearly 40% of its group revenue. Analysts have previously raised concerns that the pandemic could erode the division’s profits if high-energy industries shut down.

Reporting by Paulina Duran and Jonathan Barrett; Additional reporting by Shriya Ramakrishnan; Edited by Peter Cooney, Jane Wardell & Shri Navaratnam

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Australia’s Macquarie boosts 2021 profits due to the US freeze | Instant News


SYDNEY (Reuters) – Macquarie Group Ltd said on Monday that it expects fiscal 2021 profit to jump by as much as 10% on demand for warming caused by extreme weather in North America, sending the Australian company’s stock up more than 4%.

FILE PHOTOS: The logo of Australia’s largest investment bank Macquarie Group Ltd adorns the main entrance to their Sydney headquarters in Australia, 28 October 2016. REUTERS / David Gray

Macquarie’s Global Commodities and Markets Division – which accounts for nearly 40% of its group revenue – is physical gas marketer No. 2 in North America.

“Extreme winter weather conditions in North America have significantly increased short-term client demand for Macquarie’s ability to maintain critical physical supplies across the commodity complex,” the company said in a statement.

Severe cold conditions in Texas and other US states have left millions without electricity or heating for days.

Some customers in Texas, in particular, are paying wholesale prices that have risen as demand has skyrocketed after a deadly winter storm caused widespread blackouts.

The developing situation has seen Macquarie significantly increase its earnings forecasts for the commodities division and global markets over the span of two weeks.

Macquarie first put the unit’s net profit after-tax guide for fiscal 2021, compared to the previous year, at “down significantly”, before increasing it to “slightly down” and then forecast Monday that the division will push overall group profit to ” about 5% to 10% higher. “

Macquarie shares rose 4.31% to A $ 148.39 on Monday morning, the highest level in a year, outperforming the broader market which was slightly higher.

“Macquarie appears to be making good use of financial market volatility and dislocation,” Bank of America Securities analysts said in a note, as it raised its earnings forecast for the company and raised its target price to A $ 160, from A $ 155 currently.

Earlier this month, the Sydney-based financial conglomerate had forecast full-year revenue for the group to be “slightly” lower than its 2020 fiscal year.

The three analysts covering Macquarie said it was unlikely the performance of the Global Commodities and Markets unit would be replicated in the future.

Reporting by Paulina Duran in Sydney and Shriya Ramakrishnan in Bengaluru; Edited by Peter Cooney and Jane Wardell

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