Energy transition
Finance and faith
Islamic shari’a law may prohibit interest, but far from discouraging investment, shari’a-compliant structured project finance looks set to grow – particularly in the energy arena, as Maria Kielmas reports
King coal still fired up
Despite the soaring cost of emissions reduction credits, the EU emissions trading scheme has yet to dampen utilities’ demand for coal. But, finds Oliver Holtaway, it may affect their long-term investment decisions
No sign of a slowdown
The fundamental outlook for coal looks price supportive for some years to come, but with other fuel prices sky high, coal looks set to retain its market share of electricity generation this decade. Stella Farrington reports
Calpine to sell US oil and gas assets for $1bn
Calpine Corp is to sell all its US oil and gas exploration and production assets for $1.05 billion to Rosetta Resources, a newly formed subsidiary of the California-based energy company.
A good time to build
US utilities may need to spend more than $100 billion in the next 25 years on new power plants and transmission capacity. Richard McMahon looks at how utilities are assessing long-term risks and attracting potential investors
Shell:powering up
Shell Trading’s core values of honesty, integrity and respect for people define thecompany and how it does business
LNG makes headway
The market for liquefied natural gas is ripe for expansion, given the scarcity of oil and LNG’s cleaner burning properties, and a short-term market is emerging for the first time. Eric Fishhaut looks at the evolving structure of this international market
Turbulent times
The new Renewable Sources Act obliges German utility companies to buy all the wind power generated in the country on any one day. And it is adding a new volatility to the German power market. By Stella Farrington
Russell Newton
Global Advisors’ Russell Newton explains to Patrick Fletcher why his firm is moving away from its traditional oil-centric focus towards a more
Fortum to buy Eon’s Finnish subsidiary
Finnish energy company Fortum is to buy a majority stake in the Finnish arm of German utility Eon from the parent company and has also offered to buy the City of Espoo’s 34.2% shareholding. Fortum will pay Eon 390 million euros ($509 million) for its 65…
Dutch-Norwegian power transmission link may spur electricity trading
A newly agreed Norway-Netherlands electricity transmission link will lead to power trading between the two countries, said Swiss power and automation technology group ABB. The link will also increase the reliability of electricity supply, said the…
A new breed of bond
Issuance of rate reduction bonds by utilities may be down, but the market is preparing for a surge in new asset-backed securities derived from the stranded cost model. By Catherine Lacoursiere
Blending the rules
The speed of decline of North Sea crude raises fresh concerns over the suitability of the North Sea as a benchmark, and to worries over the value of long-dated derivatives contracts. By Stella Farrington
Caring competition
What are the theoretical consequences of restructuring electricity markets on emissions? Here, Benoît Sévi shows that changes in supply and consumption and restructuring for competition has environmental effects, and argues that strong public policies…
Utility 2025: a vision
Power companies will face enormous political, societal, and technological change over the next 20 years. Douglas Houseman and Dennis Taylor of Capgemini look at how the utility of the future should embrace change
Wolfgang Schollnberger
WOLFGANG SCHOLLNBERGER has spent 37 eventful years in the oil and gas industry. He talks to Stella Farrington about his vision for a sustainable energy mix
Calpine to provide Newmarket with energy services
Calpine Energy Services (CES), part of California-based power company Calpine Corp, is to provide energy services to Newmarket Services Company. Newmarket is a newly formed subsidiary of New York- and London-based asset acquisition firm MMC Energy and…
Energising the US
Democratic presidential nominee John Kerry has plans to require the US to generate20% of its electricity from renewable sources. But just how different are Kerry’sand President Bush’s stances on energy policy? By Paul Lyon
Goldman Sachs buys more US power plants
Goldman Sachs has added to its portfolio of US physical energy assets by buying equity interests in 12 power plants and a natural gas pipeline for $656 million from bankrupt Maryland-based National Energy & Gas Transmission (NEGT). The investment bank…
Energy users to join Italian power exchange by 2005
Energy consumers are now expected to start trading on the Italian wholesale power exchange by the start of 2005, said Paolo Ghislandi, secretary-general of Aiget, the Milan-based Italian association of energy traders and suppliers.
Offshore wind to be big business, says new Fitch MD
Offshore wind projects and the newly expanded European Union will both bring good opportunities to Fitch Ratings over the coming 18 to 24 months, according to the Fitch Energy Group’s new European, Middle East and Africa (EMEA) managing director Andrew…
Iberdrola’s inroads
Spanish utility Iberdrola supplied almost a third of its home country’selectricity in 2003. And with a joint Iberian energy market scheduled to startin March, the firm has plans for further expansion into Portugal. By Joe Marsh
Teething troubles
Following decades of cloistered state control and the exit of a number of largeUS players, the Australian power market is going through a period of hiccups. Paul Lyon reports on the outlook for the country’s electricity sector
Vertical take-off
As UK supplier Centrica narrows its focus to fund an asset acquisition spree, James Ockenden finds the ‘asset-light’ utility model has finallybeen buried and a move towards ‘vertical integration’ is now thestrategy of choice