* 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)
(Opinions expressed here are those of the author, columnist for Reuters.)
LAUNCESTON, Australia (Reuters) – Australia is turning into an example of what happens when markets leave policymakers, with renewables attracting investment dollars even as a conservative government clings to its vision of a natural gas future.
Two recent announcements underlined that Australia is moving towards an energy future where renewable energy plays the biggest role, and Prime Minister Scott Morrison’s proposed gas-based recovery may turn into a white elephant.
Fortescue Metal Group FMG.AXThe world’s fourth-largest iron ore miner built from scratch by billionaire Andrew Forrest outlined his plans on Wednesday to become a global renewable energy giant.
Forrest said his company has so far committed A $ 1 billion ($ 731 million) to build a portfolio of renewable energy assets, including green hydrogen and ammonia, and has a target of having an installed energy capacity of 225 gigawatts (GW).
“With scale and innovation, we will be able to increase the supply of green hydrogen and green ammonia to deliver low-cost energy reliably on an industrial scale to customers around the world,” he said at the Fortescue annual meeting.
A second example is the attempt by the state government in Victoria, Australia’s second most populous state and home to Melbourne, to build a 300 megawatt battery as part of an effort to build electricity capacity.
“With climate change resulting in hotter summers, peak electricity demand is increasing. At the same time, the aging coal fired generators in Victoria are becoming increasingly unreliable, resulting in the need for additional capacity to ensure the state’s electricity supply, “the state government said in a statement on its website.
“This additional capacity will lower electricity prices for all Victorians and provide significant net benefits for Victoria, far exceeding project costs,” the government said.
There are two key messages to unlock in that statement.
The first is that coal-fired power plants, which have long been a mainstay of the Victorian, and even Australian electrical systems, are now considered old and unreliable.
Second, installing the battery, which will be the largest in Australia, will result in lower and profitable electricity prices.
This cuts the argument from Morrison, who heads the federal-Liberal-National coalition government, and proponents of the gas-fired recovery that renewable energy cannot provide adequate reliability and will be costly.
The federal government’s gas-fired recovery plan rests on subsidizing the transport of natural gas from remote areas where it is found to major urban centers on Australia’s east coast.
This may also involve the government building its own gas-fired power plant near Sydney’s largest city, given that no private sector generator currently has plans to build such a plant, mainly citing the absence of a lucrative business case.
What Morrison hasn’t elaborated on is the extent to which subsidies are needed to make natural gas “cheap” enough to compete with renewables in the Australian power market.
Given that most natural gas is located in remote basins thousands of kilometers (miles) from major cities on the east coast, it is likely that these subsidies will need to be large, and long-lasting, for the fuel to be competitive.
There’s an old saying that anything can be made to work if there is enough taxpayer subsidies to do it, and it seems like this is the path Morrison is looking to follow.
It is likely to be expensive for taxpayers and worse than if the same money was invested in increasing use of renewable energy, powered by battery storage or pumped hydro, or even powered by gas-fired peak power plants.
But the most damning reaction to Morrison’s gas-based recovery plan has been how markets ignore it and move on.
ROME (Reuters) – Seven bodies were found in the Franco-Italian border area near Nice on Sunday after heavy rains swept through homes and roads, officials in both countries said.
Five bodies were found in northwest Italy, including four that were washed ashore between the cities of Ventimiglia and Santo Stefano al Mare, near the French border. Some of the bodies may have washed up the coast from France.
Two more were found in France, including a shepherd found by the Italian SAR team. Another body was found in a vehicle that was swept away by flash floods in the village of Saint-Martin-Vésubie.
This brings the total number of people found dead to nine after heavy rains and strong winds hit the border area on Friday. French firefighters said another 21 people were missing, eight of whom were known to be a direct result of the storm.
Bad weather caused millions of euros in damage, with several road bridges swept across Italy, and roads in several cities filled with debris, mud and cars overturned.
Officials in the Piedmont region reported a record 630 mm (24.8 inches) of rain in just 24 hours in Sambughetto, near Switzerland – more than half of its average annual rainfall.
In Limone Piemonte, a three-story house was swept off its foundation and became a river. In the nearby village of Tanaro, floodwaters destroyed a local cemetery, sweeping away dozens of coffins.
In France, nearly 1,000 firefighters have been deployed to the Alpes-Maritimes region to search for the missing and rebuild communications. More than two dozen primary and secondary schools in the area were closed until further notice, local authorities said.
Up to 500mm of rain fell in less than 10 hours, a volume not seen since records began, Prime Minister Jean Castex said on Saturday.
Reporting by Crispian Balmer in Rome and Matthias Galante in Nice; written by Cripian Balmer and Richard Lough; Edited by Frances Kerry and Giles Elgood