News
Russia gas dispute hits European markets
Two days of Ukrainian natural gas transit flow cuts, combined with cold weather, have sparked a rise in both short and medium term European natural gas prices.
Obama plans alternative energy boost
US President-elect Barack Obama has pledged to double alternative energy production over the next three years and construct a new smart grid as part of an economic stimulus plan.
Russian gas exports to Europe via Ukraine halted
Exports of Russian natural gas to Europe through Ukraine have now been completely halted, according to statements from Ukraine's Naftogaz and Russia's Gazprom.
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.
NCDEX launches gold and silver contracts
India's second largest commodity exchange, the National Commodity and Derivatives Exchange (NCDEX), added gold and silver futures contracts to its portfolio at the end of December 2008. According to the exchange, the contracts were launched in response…
Russian gas exports to Europe “seven times less” after pipeline closures
Gazprom Export director general Alexander Medvedev stated today that an overnight shutdown of three transit pipelines by Ukraine had caused a seven-fold drop in Russian natural gas exports reaching Europe.
Merrill Lynch sues Reliant over credit facility
Merrill Lynch has filed a suit with the New York Supreme Court claiming Houston-based Reliant Energy defaulted when it cancelled a $300m credit agreement on 5 December 2008.
EU officials move to settle Russia / Ukraine gas dispute
The European Union today moved to end the impasse in negotiations between Ukraine and Russia to resolve a natural gas supply dispute.
Plastics futures to launch on DGCX
The Dubai Gold and Commodities Exchange (DGCX) is set to launch two plastics futures contracts on February 5. The region-specific contracts for the Middle East and Southeast Asia will be offered on linear low-density polyethylene (LLDPE) and…
Po Valley Energy secures sales agreement for Italian gas fields
Po Valley Energy, an Australian oil & gas company, has secured its first gas offtake sales agreement worth €38 million for production from its northern Italian gas fields.
Shell Energy acquires assets of Enspire Energy
Shell Energy North America, a subsidiary of Shell, announced on December 26 that it has signed a purchase agreement to acquire the assets of Enspire Energy, a Virginia-based energy marketing company.
Atel and EOS finalise merger
Swiss energy companies Atel and EOS have finalized details of a merger which will form a new company called Alpiq, based in Neuchâtel.
PXE to launch Hungarian electricity futures
Prague Energy Exchange (PXE) has announced that it will trade electricity futures based on power generated in Hungary from March 1, 2009.
JP Morgan buys UBS’ Canadian energy and ags businesses
UBS is to sell its Canadian energy and global agricultural commodities businesses to JP Morgan, it has announced.
Growth in US oil consumption to slow significantly
The latest Annual Energy Outlook (AEO) from the Energy Information Administration (EIA) has forecast virtually no growth in 2009 US oil consumption for the first time in more than 20 years.
E.ON sells 2200MW of generation, enters Belgium
German utility E.ON has announced that it will sell over 2200 MW of generation capacity from German power stations to Electrabel and EnBW. The move comes after E.ON reached agreement with the European Commission to promote competition in Germany's power…
RWE Innogy to build 960MW offshore wind farm
RWE plans to invest $2.8 billion in its first German offshore wind farm following the acquisition of project company ENOVA Energieanlagen, part of the ENOVA Group.
RGGI allowances reach $3.38 clearing price
Regional Greenhouse Gas Initiative (RGGI) allowances sold at a clearing price of $3.38 at the scheme's second pre-compliance auction on 17 December 2008.
ICE Clear US to clear agricultural swaps
Intercontinental Exchange (ICE) has announced that ICE Clear US will clear sugar, coffee and cocoa swap contracts on ICE Futures US from late January 2009.
Australia to start carbon trading in 2010
Australia's carbon trading scheme will be up and running by the middle of 2010, according to a statement made by the Australian government minister for climate change and water, Penny Wong, at the Poznan climate change negotiations last week.
Electronic OTC commodities platform launched
Agora-X has launched an electronic communications network (ECN) for the negotiation of over-the-counter (OTC) transactions in commodity and derivative contracts.
Energy Risk: video interview
Energy Risk interviews European Energy Exchange CEO Hans-Bernd Menzel about the role of exchanges and clearing in Europe's energy markets.
Global oil demand to slump
Global oil demand is set to fall this year and next, marking the first consecutive two-year decline in three decades, according to the Energy Information Agency (EIA).
Liffe to launch commodities on Bclear
Liffe, the international derivatives business of Euronext, has announced that it will launch a range of soft and agricultural commodities on its Bclear OTC derivatives platform in the first quarter of 2009.