Electricity

The National Iranian Gas Company (NIGC) has renewed and revised a contract with Armenia to increase the volume of natural gas exports to the landlocked neighboring country until 2030, Shana reported. The terms of the contract, under which Iran exports natural gas to Armenia in exchange for electricity, have been …

The United States has issued Iraq a new 120-day waiver allowing the country to pay Iran for electricity via non-Iraqi banks, Reuters reported on Tuesday, quoting a U.S. official as saying. Based on the waiver, signed by the U.S. Secretary of State Antony Blinken on Tuesday, Iraq will be able …

Saudi Arabia has announced the launch of the powergrid interconnection project with Iraq, which entails the implementation of a dual-circuit transmission line linking the northern city of Arar in KSA to Yusufiya in western Baghdad, boasting an initial capacity of 1000 megawatts. The agreement for the project was signed by …

Surging hydroelectric power, new nuclear reactors online, and an influx of solar and wind capacity additions sent electricity prices in Finland below zero on Wednesday, in a stark reversal from last year when residents were warned of shortages after Russia cut off pipeline gas supply to its EU neighbor. “The …

The start of a much-delayed nuclear plant in Finland has helped bring down electricity prices by more than 75 per cent in the Nordic country, chief executive of Finland’s national grid operator Fingrid has said. The Olkiluoto 3 (OL3), Europe’s first new nuclear plant in 16 years, began operating in …

As Europe shuts down its remaining coal power plants and turns away from volatile gas for electricity generation, it is also losing key flexible power supplies that can be switched on at the last minute to keep the lights on during peak hours. To replace those, the European Union hopes …

China’s highest geothermal power station in terms of elevation, located in southwest China’s Tibet Autonomous Region, has generated more than 500 million kWh of electricity since it was put into operation in 2018. Yangyi geothermal power station in Damxung County, in the regional capital of Lhasa, is China’s only geothermal …

The European Union will overhaul its electricity market in a way that encourages the development of more wind and solar installations and discourages more fossil fuel generation. According to a draft of the proposal seen by Reuters, the overhaul will push fixed-price power contracts designed to protect consumers. The proposal …

Berlin is planning to introduce a special industrial electricity tariff ranging between €0.05 and €0.09 per kilowatt-hour in order to boost the country’s competitiveness and push back against US and Chinese subsidies. Electricity has always been pricey in Germany – a 2015 study by the Fraunhofer Institute found that the …

A year into an unprecedented energy crisis that rocked the European Union, officials in Brussels are ready to unveil their plan to prevent consumers from facing huge swings in electricity prices in the future. While some EU leaders pledged massive overhaul, what’s likely to emerge is anything but radical. Power …