EDF tries to find alternatives for $17bn distribution network RTE

26/01/2015 00:36 Electricity Market


French electric utility firm Electricite de France (EDF) wants to either sell stake or choose a partial offshoot of its French distribution network Reseau de Transport d’Electricite (RTE) this year.

RTE presently employs 8,400 persons and runs more than 104,000km of power lines across France. The company aims to start official process to divide or organize parts of the unit by the end of 2015. In the meantime, EDF Renewable Energy, division of EDF Group, has commissioned the 200MW Hereford wind project in Texas, the US. Situated southeast of the town of Hereford, in Deaf Smith County, the project comprises 54 GE 1.85MW, and 50 Vestas V100 2.0MW wind turbine. Electricity produced by the plant will be sold to Electric Reliability Council of Texas (ERCOT) power market and covered by a long-term, fixed-price hedge accord for a fraction of the anticipated energy output.

Daily (04.08.2020): Oil prices added near 2% on Monday amid upbeat economic data

04/08/2020 10:52:00

Crude oil futures ended higher on Monday after a session start in the red as the rise in production from OPEC+ members came into effect, adding to the virus woes. However, oil prices got a boost from positive manufacturing and industrial data across the United States, Europe, and Asia. Hence, Brent crude soared by 63 cents, or 1.5%, to settle at $44.15 a barrel. U.S. WTI crude rose by 74 cents, or 1.8%, to end at $41.01 a barrel.


Shell wraps up acquisition of carbon farming company

04/08/2020 09:42:00

Environmental services company Select Carbon specialises in developing projects which aim to increase carbon capture in plants or soil and reduce Australia’s emissions


Russia Seeks Additional $1.9 Billion In Taxes From Oil & Gas

04/08/2020 09:33:00

Russia’s finance ministry is looking to raise as much as US$1.93 billion (143 billion Russia rubles) in taxes from the oil industry over the next two years, as the oil price crash has shrunk Russia’s key revenue stream—oil.