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Daily (22.08.2023): French spot power surged dramatically by about 74% amid nuclear capacity cuts due to heatwave
Crude oil prices notched a small decrease on Monday despite lower-than-expected exports from Saudi Arabia and Russia. Additionally, global economic concerns weighed on prices. Thus, Brent crude edged 0.4% lower at $84.46 a barrel. Meanwhile, U.S. WTI crude fell by 0.7% to settle at $80.72 a barrel.
read more... 22/08/2023
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China's installed solar power capacity up 42.9% YoY in 2023
China has reported a substantial rise in newly installed clean energy capacity in the initial seven months of 2023, as per the National Energy Administration (NEA). The new installed solar power capacity soared 42.9 per cent year-on-year (YoY) to 490 million kilowatts (kW), while wind power stood at approximately 390 million kW, marking an annual increase of 14.3 per cent.
read more... 22/08/2023
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EU surpasses 90% gas storage target ahead of winter
The European Union (EU) has surpassed its gas storage target, achieving a 90.12% capacity well ahead of the scheduled deadline of 1st November.
read more... 21/08/2023
German offshore wind capacity up 3.1% in H1, manufacturers demand law amendments
Germany raised installed offshore wind capacity by 3.1% to 8,385 megawatts (MW) in the first half of 2023, industry lobbies said on Tuesday, demanding better revenue guarantees to maintain a build-out pace and ensure it will reach a 30,000 MW target by 2030.
read more... 26/07/2023
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Global power demand growth to rebound in 2024 after slowdown
An ongoing energy crisis and an economic downturn is expected to slow global power demand growth in 2023, but a probable rebound in 2024 means more renewable capacity needs to be developed, the International Energy Agency (IEA) said on Wednesday.
read more... 20/07/2023