Daily Energy News
Policy & Regulatory
The Ministry of Economic Affairs and Climate Change of the Netherlands has presented plans for the future net metering scheme for residential PV systems, that will replace the existing one expiring in 2023. The proposed new net metering scheme would remain in force until the end of 2030.
The European Commission has launched a public consultation on tightening the European Union's 2030 greenhouse gas (GHG) emissions reduction target. The European Union (EU) has set a target to cut GHG emissions by 40% by 2030, compared with 1990 levels. The Commission is considering raising the target to a 50% or 55% cut by 2030, i.e. the level required to reach net-zero GHG emissions by 2050, as set by the EU's Green Deal strategy of December 2019. The consultation is open until the end of June 2020 and the new target will be proposed in September 2020.
The European Commission (EC) has allowed, under the EU Merger Regulation, the oil and gas group PKN Orlen to acquire the power company Energa as the two Polish companies’ activities have limited overlaps. In December 2019, PKN Orlen (27.5% owned by the State of Poland) presented a plan to take over Energa with the objective to strengthen its positions in the electricity market and to close the acquisition by mid-2020.
The Thailandese energy company Super Energy Corporation has reached an agreement with Vietnam's state-owned power utility Electricity of Vietnam (EVN) to acquire a controlling stake in four solar PV projects totalling 750 MW in the Binh Phuoc Province of Vietnam for US$457m. The company will pay around US$73m to buy 70% to 100% of the Loc Ninh 1, Loc Ninh 2, Loc Ninh 3 and Loc Ninh 4 solar plants. The remaining US$384m will be invested to complete the construction of the projects by the end of 2020.
Indian state-owned coal group Coal India Ltd (CIL) produced 602 Mt of coal in the fiscal year 2019-2020 (April 2019-March 2020), i.e. around 1% less than in the fiscal year 2018-2019 (607 Mt). The group intended to produce 660 Mt of coal in 2019-2020 (corresponding to 82% of the total domestic coal production) and 750 Mt of coal in 2020-2021 but missed its 2019-2020 objective.
BP has cut its 2020 spending plan by a quarter, from US$15bn to US$12bn, including a US$1bn reduction investment in short-cycle onshore activity; this will include its US shale business BPX Energy, which will slash its output by 70 kboe/d. In addition, BP will reduce its spending in downstream (fuels marketing, refining and petrochemicals) by around US$1bn.
Energy & Climate Markets
The Brazilian oil and gas regulator National Agency of Petroleum, Natural Gas and Biofuels (ANP) has approved the temporary suspension of the next oil and gas exploration and production bidding round (17th Bidding Round) planned in 2020, due to the coronavirus crisis. The National Energy Policy Council (CNPE) will set up a new timetable for the bidding round process.
Infrastructure & Investments
RWE’s affiliate Innogy has created a partnership with Taiwan's cement company Asia Cement Corporation to develop the 448 MW Chu Feng offshore wind project located off the northwest coast of Taiwan near Hsinchu City. The two parties plan to participate in the next grid allocation round in the country.
The government of Argentina has stalled two large energy infrastructure projects - the first section of a new gas pipeline to Vaca Muerta and a power transmission line - due to a lack of financing, in a context of economical uncertainty.