EnergyWatch

Utilities

Oil and gas industry's credit under pressure

New credit ratings for the global oil and gas industry show that UK companies have seen the biggest setbacks. However, the entire business's credit situation bears more risk than three years ago, looking at the biggest companies.

Long queues are Ørsted's main Brexit fear

If the UK leaves the EU without a trade agreement, it would lead to months of chaos in British ports, according to leaked internal documents. The risk of delays causes more concern than import duties, says Ørsted CEO Henrik Poulsen.

Twin malfunctions cause major blackout in Britain

Ørsted's offshore wind farm and RWE's gas plant shut down at the same time and caused power outages in sections of the UK's grid, leaving around one million UK residents without power due to "rare and unusual circumstances".

"GE is a bankruptcy waiting to happen"

Harry Markopolos, the investigator behind the warnings about Bernard Madoff's Ponzi scheme, is accusing GE of major fraud. GE denies, but the market is ruthless, and the company's stock is in free-fall.

On the brink of blackouts, Texas makes case for power plant boom

The Lone Star state's power prices skyrocketed in the scorching summer heat as air conditioners tax grid balance while wind generation falters in the doldrums. After electricity generators made a killing off rates that briefly pushed past USD 9,000 per MWh, observers make the case to expand power plant capacity.

Ørsted will retain its thermal heating and power plants

Ørsted has booked a total deficit of DKK 8.7 billion (EUR 1.17 billion) from the business division, which has received its fifth name in five years. CEO Henrik Poulsen has, however, no plans to sell the thermal plants, which he says have "earnings potential".

UK lowers energy price cap

Utilities in the UK can look forward to coming under even more pressure from October when the country lowers its price cap by 6 percent.

Eon suffers hard blow to bottom line

For the second consecutive quarter, the German utility sees a significantly declining bottom line. Everything is going as planned, however, says the company, which maintains its forecast for the year.

Missed Anadarko-acquisition helps Chevron

The US oil company breaks the trend among industry colleagues by improving significantly in the second quarter. Chevron especially benefits from the failed Anadarko-acquisition and a record-high production level.

Noreco completes major Shell acquisition

Oil company Noreco completes its total acquisition of Shell's oil and gas extraction in the North Sea, thus becoming the second-largest producer of oil and gas in Denmark.

BP enters joint venture on world's biggest EV market

The oil and gas company launches a new collaboration with Chinese technology firm Didi, aimed at the electric vehicle market. BP will provide fuel, while Didi will handle the charging hubs that the parties aim to install across China.

Deutsche Bucht has started generating power

The offshore wind farm, which will have a capacity of 269 MW, is not slated for full operation until later this year, but Deutsche Bucht has already started generating power.

RWE upgrades guidance for 2019

The German utility upgrades its expectations for the year after having earned exceptionally well from from energy trading.

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