There’s a growing divergence between EU targets and national plans, and electrification is not happening quickly. Are voters turning their backs on the EU’s 2030 climate objectives? Year-to-date natural gas consumption is 3.1% down, to 195.6 bcm from 201.9 bcm in 2023. Milder weather has reduced household consumption. In general, the trend is downwards. Europe … Read more
The OPEC+ group of oil producers has extended its production cuts totaling 3.66 mln bpd until 2025, maintaining a controlled supply while taking advantage of the current price of the benchmark Brent crude at over $85/barrel. OPEC forecasts that cumulative oil-related investment requirements from now until 2045 will amount to about $14 trln, or around … Read more
Analysis: Morningstar DBRS Just a day to the UK general election on 4th July and a change in government looks imminent. The Labour party has continued to lead in the voting intention polls and if polls prove right, Labour will form the next government. After 14 years of a Conservative-led government, a change to Labour … Read more
The text discusses the debate surrounding company tax cuts in Australia, with Industry Minister Ed Husic suggesting that corporate tax reform or investment allowances for manufacturing capital should be considered. However, the text highlights that recent data shows a rise in investment in Australia, particularly in data centres, infrastructure, and energy, driven by the services sector. This surge in investment contradicts the narrative that company tax cuts are necessary to encourage business investment.
The board of the Electricity Authority of Cyprus (EAC) is set to award contracts for two projects worth €45 million to beef up the electricity transmission system. The EAC’s top priority is the stability of the system and providing uninterrupted power to consumers. The EAC is also working on increasing infrastructure projects to help with the penetration of renewables in the energy mix. The layout of the grid is not to blame for discarding energy generated from renewables, as the cutbacks are due to demand being less than the generated electricity. It is currently unfeasible to have a transmission grid that allows the connection of renewables from anywhere in Cyprus due to the high cost of building a new network. Strengthening transmission lines would require a major investment of hundreds of millions of euros, which consumers would have to pay for. Acquiring permits for new transmission lines also takes a long time.
European stock pickers are turning to more established sectors like utilities, professional data providers, and copper miners to tap into the next wave of the AI boom.
Researchers in Europe are working to inform residents about clean energy options.
Fact: The first results of the cost-benefit study for the Greece-Cyprus Great Sea Interconnector electricity project are anticipated to be unveiled by the end of May.
Oil prices are trading down due to disappointing economic data and a rise in US crude oil inventories.
Fact: Vertical farming is expected to reach a global market value of US.23 billion (£18.55 billion) by 2029.