Weekly HEG Global Energy Digest
E.ON offers its clients “virtual battery” for solar
E.ON has decided to offer its clients the possibility to store their own solar power, without having to install batteries.
The energy provider will allow households to store unrestricted amounts of self-produced power on virtual accounts after feeding the energy back to the company.
This signifies they can save up an electricity credit balance for the winter during favourable conditions and then take out this power at a later date when it is really necessary.
E.ON declared that with this system customers can save the acquisition and installation costs of a physical storage tool and don’t have to worry about maintenance.
The product will be initially offered in Germany and Italy.
E.ON Board Member Karsten Wildberger mentioned that with the E.ON SolarCloud, customers will create their own personal energy world, freely and totally independent. New possibilities for owners of heat pumps or electric cars will be opened up through the cloud solution.
Article Source: http://www.energymarketprice.com/energy-news/e-on-offers-its-clients-%E2%80%9Cvirtual-battery%E2%80%9D-for-solar
Renewable bond influences the market
Renewable energy developer Atlantis has started a five-year bond to support back its future projects.
Through Abundance Investment Limited’s renewable peer-to-peer investment platform, the bond offer is looking to raise a minimum of £2 million and a maximum of £5 million.
These profits will be used to hasten the development of opportunities such as Uskmouth power station conversion and the Wyre tidal gateway project, to recover debts and to offer general working capital.
The bond matures in 2023 – it has a coupon of 8%, payable twice a year and is likely to close at the beginning of 2018.
Tim Cornelius, CEO of Atlantis, affirmed: “This bond offer represents a chance for ordinary investors to help Atlantis to grow and share in our future financial success. These bonds will help us achieve our ambition of becoming one of the largest and most diversified renewable energy companies on the London Stock Exchange.”
Article Source: http://www.energymarketprice.com/energy-news/gas-exports-to-europe-via-norway-pipeline-hit-a-record-high-in-2017
France plans to phase out coal by 2021
France made known about its intention to shut down all coal-fired power plants by 2021 to strengthen its stance in the fight against climate change.
Emmanuel Macron, the President of France, declared about his plan to fasten coal phase-out by two years. His predecessor, Francois Hollande, initially set the deadline for switching to cleaner energy generation by 2023.
According to RTE, the French transmission system operator, coal represents only around 1% of the country’s electricity generation.
The initiative project is expected to provide a symbolic shift from fossil fuels to greener alternative, and also to help improve France’s economy by removing negative aspects such as the cost of pollution and damage to health.
As the price of clean energy constantly falls, more and more nations around the globe are committing to phase out coal in the next ten years.
Great Britain has emphasized its target to eliminate the consumption of the polluting fuel source by 2025.
Article Source: http://www.energymarketprice.com/energy-news/canada-invests-?41-9-million-in-british-solar
Fossil fuels production to hit unprecedented levels in the US
Fossil fuels production in the US is likely to attain record levels in 2018 and 2019.
According to Energy Information Administration (EIA), it is expected to average around 73 quadrillion British thermal units (Btu) this year and hike to 75 quadrillion Btu in 2019. The study covers production of natural gas, crude oil, coal and hydrocarbon gas liquids (HGL).
In 2018, the EIA forecasts the natural gas production at approximately 80.4 billion cubic feet per day (Bcf/d) – a 9% up from last year – and 83 Bcf/d 2018. Crude oil production might reach 10.3 million barrels per day – up 10% from last year – and 10.8 million barrels per day next year.
It reveals that record level production is mainly applicable to higher production of natural gas and crude oil empowered by the use of hydraulic fracturing techniques in tight rock formations.
Increases in crude oil production growth is expected to be the leading contributor in 2019. EIA foresees growing natural gas production to be the upfront contributor to total fossil fuel generation in 2018. In both years, predicted growth in natural gas, crude oil and HGL output more than counterbalance forecasted declines in coal production.
Article Source: http://www.energymarketprice.com/energy-news/finnish-clean-energy-company-will-provide-a-wave-park-in-bali