Electricity
Reliant sells Texas business to NRG and posts fourth quarter loss
In addition to the sale of its Texas retail business to NRG Energy for $287.5m, Reliant Energy has announced fourth quarter losses, including $177m from energy derivatives.
Uncertain outlook for US public power
Moody's has forecast a stable credit outlook for the US public power electric utility sector in 2009, but says the recession and environmental regulations could present challenges.
RWE restructures
RWE has announced plans to restructure its supply and distribution business in Germany and reorganise its ultra-high voltage grid as part of a €6.5 billion investment scheme.
Enel to acquire Endesa for €11.1 billion
Italy's largest power company Enel has signed an €11.1 billion agreement with Spanish development company Acciona, for its 25.01% stake in Spanish power company Endesa.
Vattenfall to buy Nuon's production & supply business
Swedish energy company Vattenfall has made an all cash offer of €8.5 billion for 100% of the shares of Dutch company Nuon's production & supply business. Nuon's grid company is not involved in the transaction.
CME launches electricity futures contracts
CME Group has announced 34 new PJM, ISO electricity swap futures contracts will begin trading on the exchange from 22 February for trade date of 23 February 2009.
ASX to launch coal and power futures
The Australian Securities Exchange (ASX) is to list thermal coal futures and options on April 21. It will also launch New Zealand electricity futures on 28 April and natural gas futures contracts for the state of Victoria on 5 May.
Spanish power price drops 30% on plunging demand
Spanish baseload electricity prices on power exchange Omel fell by 12.6% in January to an average of €49.93 per megawatt hour, marking a 30% drop in the past 4 months.
GDF Suez and Iberdrola form UK nuclear team
GDF SUEZ and Iberdrola have entered a joint-venture partnership to participate in the development of new nuclear power stations in the UK.
SSE and Iberdrola join forces for UK nuclear
UK utility Scottish and Southern Energy (SSE) has joined forces with Spanish utility Iberdrola to help kick-start the UK's nuclear new build programme. They will begin by securing potential sites for nuclear power stations and work alongside UK…
RWE and E.ON team up for UK nuclear projects
German utilities RWE and E.ON have formed a joint-venture to develop new nuclear power stations in the UK.
Italian power market hit by crisis decree
A proposed policy package from the Italian government in response to the financial crisis could cause further turmoil in the domestic power market, finds Rachel Morison
European energy outlook
2008 was a rollercoaster year for Europe's energy markets. Roderick Bruce interviews trading CEOs and other senior executives to see how they envisage Europe's gas & power markets developing in the year ahead
RWE to buy Essent
Germany's RWE is buy Dutch utility Essent in an all-cash €9.3 billion deal. Essent will become RWE's operating company in the Netherlands and Belgium, and will continue as an independent entity.
MCX launches India’s first electricity futures
Mumbai-based Multi Commodity Exchange (MCX) launched India's first electricity futures contract on January 9.
EDF meeting record French power demand
French utility EDF has brought "almost all" of its available generation capacity online to cope with record power demand highs driven by freezing temperatures, the company said today.