People urged to chip in for power project

By Reuters


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The impoverished Central Asian nation of Tajikistan urged its people to give up their salaries to help build a new hydroelectric plant.

Millions of people in the Muslim nation north of Afghanistan struggled without heating and electricity during a record-cold winter this year, prompting the government to speed up efforts to finish the construction of the Rogun power plant.

Makhmadsaid Ubaidulloyev, speaker of the upper house of parliament, said the government could raise about $10 million for its construction if all residents of the capital Dushanbe were to give up half their wages in May and June.

"Makhmadsaid Ubaidulloyev appealed on all companies to transfer 50 percent of employees' salaries to help Rogun's construction," said Shavkat Saidov, a Dushanbe city spokesman.

One of the world's poorest countries, where the average monthly wage is about $63, estimates the cost of completing Rogun at between $1.3 and $3.2 billion.

Saidov said the measure was voluntary but some people said they feared that the money would be withdrawn automatically.

"Who is going to ask us? They will take it out of our salaries and that's it," said Nagina, a mother of three who spoke to Reuters on condition of anonymity.

The Rogun plant, started in Soviet times but never finished, is key to Tajikistan's goal to become a significant regional electricity exporter and raise aluminum production.

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Secret Liberal cabinet document reveals Electricity prices to soar

Ontario Hydro Rate Relief Plan delivers short-term electricity bill cuts, while leaked cabinet forecasts show inflation-linked hikes, borrowing costs, and a Clean Energy Adjustment under the province's long-term energy plan.

 

Key Points

A provincial plan that cuts bills now but defers costs, projecting rate hikes and adding a Clean Energy Adjustment.

✅ 25% cut now, after 8% HST relief; extra 17% reduction applied.

✅ Forecast: inflation-linked hikes later; borrowing adds long-term costs.

✅ Clean Energy Adjustment line to repay deferred system costs.

 

The short-term gain of a 25 per cent hydro rate cut this summer could lead to long-term pain as a leaked cabinet document forecasts prices jumping again in five years.

In the briefing materials leaked and obtained by the Progressive Conservatives, rates will start rising 6.5 per cent a year in 2022 and top out at 10.5 per cent in 2028, when average monthly bills hit $215.

That would be up from $123 this year once the rate cut — the subject of long-awaited legislation to lower electricity rates unveiled Thursday by Energy Minister Glenn Thibeault — takes full effect. There will be another 17-per-cent cut in addition to the 8 per cent taken off bills in January when the provincial portion of the HST was waived.

The leaked papers overshadowed Thibeault’s efforts to tout the price break, which will be followed with four years of hydro rate increases at 2 per cent, roughly the rate of inflation.

Thibeault charged that the Conservatives used an “outdated” document to distract from the fact that they are the only major party without a plan for dealing with skyrocketing hydro rates, with a year to go until next June’s provincial election.

“It’s not a coincidence,” he told reporters, denying any plans for an eventual 10.5-per-cent rate hike and promising the government’s new long-term energy plan, due in a few months, will have better numbers.

“We are working hard right now to continue to pull costs out of the system.”

Opposition parties said the Liberal plan doesn’t deal with the underlying problems that have made electricity expensive and simply borrows money to spread the costs over a longer period of time, with $25 billion in interest charges over 30 years.

Some observers also noted that a deal with Quebec would not reduce hydro bills, highlighting concerns about lasting affordability.

“The price of electricity is going to skyrocket after the next election,” warned Conservative MPP Todd Smith (Prince Edward—Hastings).

“The government isn’t being honest with the people of Ontario when it comes to the price of electricity.”

The documents show average monthly bills peaking at $231 in the year 2047, before falling back to $210 the following year once the 30 years of interest payments are over.

Conservative sources say they obtained the papers stamped “confidential cabinet document” from a whistleblower after Thibeault’s rate cut plan was presented to cabinet ministers at a meeting in early March.

There is no date on the document, which the energy minister alternately dismissed as “inaccurate” or possibly one of many that have been prepared with different options in mind.

“We’ve had hundreds of briefings with hundreds of documents … I can’t comment on one graph when we’ve been looking at hundreds of scenarios.”

New Democrats, who have proposed a scheme to cut rates, if elected, also called the government plan an election ploy with Liberals lagging in the polls.

“We’re going to take on a huge debt so (Premier) Kathleen Wynne can look good on the hustings in the next few months, and for decades we’re going to pay for it,” said MPP Peter Tabuns (Toronto-Danforth).

Thibeault acknowledged the Liberal plan will start repaying borrowed money in the mid- or late 2020s and it will show up separately on hydro bills as the “Clean Energy Adjustment”, a kind of electricity recovery rate that could raise costs.

 

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China aims to reduce coal power production

China Coal-Fired Power Consolidation targets capacity cuts through mergers, SASAC-led restructuring, debt reduction, asset optimization, and retiring inefficient plants across state-owned utilities to improve efficiency, stabilize liabilities, and align with energy transition policies.

 

Key Points

A SASAC-driven plan merging utility assets to cut coal capacity, reduce debt, and retire outdated, loss-making plants.

✅ Merge five central utilities' coal assets to streamline operations

✅ Target 25-33% capacity cuts and >50% loss reduction by 2021

✅ Prioritize debt-ridden regions: Gansu, Shaanxi, Xinjiang, Qinghai, Ningxia

 

China plans to slash coal-fired power capacity at its five biggest utilities by as much as a third in two years by merging their assets, amid broader power-sector strains that reverberate globally, according to a document seen by Reuters and four sources with knowledge of the matter.

The move to shed older and less-efficient capacity is being driven by pressure to cut heavy debt levels at the utilities. China, is, however, building more coal-fired power plants and approving dozens of new mines to bolster a slowing economy, even as recent power cuts highlight grid imbalances.

The five utilities, which are controlled by the central government, accounted for around 44% of China’s total coal-fired power capacity at the end of 2018, a share likely to be tested by rising electrification goals, with electricity to meet 60% by 2060 according to industry forecasts.

“(The utilities) will strive to reduce coal-fired power capacity by one quarter to one third ...cutting total losses by more than 50% from the current level to achieve a significant decline in debt-to-asset ratios by the end of 2021,” the document said.

The plan, initiated and overseen by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), follows heavy losses at some of the utilities, amid a pandemic-era demand drop that hit industrial consumption.

Some of their coal-fired power stations have filed for bankruptcy in recent years as Beijing promotes the use of renewable energy and advances its nuclear program while opening up the state-controlled power market.

The SASAC did not immediately respond to a fax seeking comment and the sources declined to be identified as they were not authorised to speak to the media.

The utilities - China Huaneng Group Co, China Datang Corp, China Huadian Corp, State Power Investment Corp and China Energy Group - did not respond to faxes requesting comment.

Together, they had 474 coal-fired power plants with combined power generation capacity of 520 gigawatts (GW) at the end of last year.

Their coal-fired power assets came to 1.5 trillion yuan ($213 billion) while total coal-fired power liabilities were 1.1 trillion yuan, the document said.

The document was seen by two people at two of the utilities and was also verified by a source at SASAC and a government researcher.

It was not clear when the document was published but it said the merging and elimination of outdated capacity would start from 2019 and be achieved within three years, aiming to improve the efficiency and operations at the companies, reflecting a broader electricity sector mystery that policymakers are trying to resolve.

Utilities with debt-ridden operations in the northwestern regions of Gansu, Shaanxi, Xinjiang, Qinghai and Ningxia would be the first to carry out the plan, it said, even as India ration coal supplies during demand surges.

The government researcher said the SASAC has been researching possible consolidation in the coal-fired power sector since 2017, but added: “It’s easier said than done.”

“No one is willing to hand in their high quality assets and there is no point in merging the bad assets,” the government researcher said.

 

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Hitachi freezes British nuclear project, books $2.8bn hit

Hitachi UK Nuclear Project Freeze reflects Horizon Nuclear Power's suspended Anglesey plant amid Brexit uncertainty, investor funding gaps, rising safety regulation costs, and a 300 billion yen write-down, impacting Britain's low-carbon electricity plans.

 

Key Points

Hitachi halted Horizon's Anglesey nuclear plant over funding and Brexit risks, recording a 300 billion yen write-down.

✅ 3 trillion yen UK nuclear project funding stalled

✅ 300 billion yen impairment wipes Horizon asset value

✅ Brexit, safety rules raised costs and investor risk

 

Japan’s Hitachi Ltd said on Thursday it has decided to freeze a 3 trillion yen ($28 billion) British nuclear power project and will consequently book a write down of 300 billion yen.

The suspension comes as Hitachi’s Horizon Nuclear Power failed to find private investors for its plans to build a plant in Anglesey, Wales, where local economic concerns have been raised, which promised to provide about 6 percent of Britain’s electricity.

“We’ve made the decision to freeze the project from the economic standpoint as a private company,” Hitachi said in a statement.

Hitachi had called on the British government to boost financial support for the project to appease investor anxiety, but turmoil over the country’s impending exit from the European Union limited the government’s capacity to compile plans, people close to the matter previously said.

Hitachi had called on the British government to boost financial support for the project to appease investor anxiety, but turmoil over the country’s impending exit from the European Union and setbacks at Hinkley Point C limited the government’s capacity to compile plans, people close to the matter previously said.

Hitachi had banked on a group of Japanese investors and the British government each taking a one-third stake in the equity portion of the project, the people said. The project would be financed one-third by equity and rest by debt.

The nuclear writedown wipes off the Horizon unit’s asset value, which stood at 296 billion yen as of September-end.

Hitachi stopped short of scrapping the northern Wales project. The company will continue to discuss with the British government on nuclear power, it said.

However, industry sources said hurdles to proceed with the project are high considering tighter safety regulations since a meltdown at Japan’s Fukushima nuclear power plant in 2011 drove up costs, even as Europe’s nuclear decline strains energy planning.

Analysts and investors viewed the suspension as an effective withdrawal and saw the decision as a positive step that has removed uncertainties for the Japanese conglomerate.

Hitachi bought Horizon in 2012 for 696 million pounds ($1.12 billion), fromE.ON and RWE as the German utilities decided to sell their joint venture following Germany’s nuclear exit after the Fukushima accident.

Hitachi’s latest decision further dims Japan’s export prospects, even as some peers pursue UK offshore wind investments to diversify.

Toshiba Corp last year scrapped its British NuGen project after its US reactor unit Westinghouse went bankrupt, while Westinghouse in China reported no major impact, and it failed to sell NuGen to South Korea’s KEPCO.

Mitsubishi Heavy Industries Ltd has effectively abandoned its Sinop nuclear project in Turkey, a person involved in the project previously told Reuters, as cost estimates had nearly doubled to around 5 trillion yen.

 

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Mercury in $3 billion takeover bid for Tilt Renewables

Mercury Energy Tilt Renewables acquisition signals a trans-Tasman energy push as PowAR and Mercury split assets via a scheme of arrangement, offering $7.80 per share and a $2.96b valuation across Australia and New Zealand.

 

Key Points

A PowAR-Mercury deal to buy Tilt Renewables, splitting Australian and New Zealand assets via a court-approved scheme.

✅ $7.80 per share, valuing Tilt at $2.96b

✅ PowAR takes AU assets; Mercury gets NZ business

✅ Infratil and Mercury to vote for the scheme

 

Mercury Energy and an Australian partner appear to have won the race to buy Tilt Renewables, an Australasian wind farm developer which was spun out of TrustPower, bidding almost $3 billion, amid wider utility consolidation such as the Peterborough Distribution sale to Hydro One.

Yesterday Tilt Renewables announced that it had entered a scheme implementation agreement under which it was proposed that PowAR would acquire its Australian business and Mercury would acquire the New Zealand business, mirroring cross-border approvals where U.S. antitrust clearance shaped Hydro One's bid for Avista.

Conducted through a scheme of arrangement, Tilt shareholders will be offered $7.80 a share, valuing Tilt at $2.96b.

Yesterday morning shares in Tilt opened about 18 per cent up at $7.65, though regulatory outcomes can swing valuations as seen when Hydro One-Avista reconsideration of a U.S. order came into play.

In early December Infratil, which owns around two thirds of Tilt's shares, announced it was undertaking a review of its investment after receiving approaches, with investor sentiment sensitive to governance shifts as when Hydro One shares fell after leadership changes in Ontario.

According to a report in the Australian Financial Review, the transtasman bid beat out other parties including ASX-listed APA Group, Canadian pension fund CDPQ and Australian fund manager Infrastructure Capital Group, as Canadian investors like Ontario Teachers' Plan pursue similar infrastructure deals.

“This compelling acquisition proposal is a result of Tilt Renewables’ constant focus on delivering long-term value for shareholders and the board is pleased that, with these new owners, the transition to renewables in Australia and New Zealand will continue to accelerate,” Tilt’s chairman Bruce Harker said.

Comparable community-led clean energy partnerships, such as initiatives with British Columbia First Nations highlighted in clean-energy generation, underscore the broader momentum.

Just prior to the announcement, Tilt shares had been trading for less than $4. Such repricing reflects how utilities can face perceived uncertainties, as one investor argued too many unknowns at the time.

Mercury is already Tilt’s second largest shareholder, at just under 20 per cent. Both Infratil and Mercury have agreed to vote in favour of the scheme. The deal values Tilt’s New Zealand business at $770m, however the value of Mercury’s existing shareholding is around $585m, meaning the company will increase debt by around $185m.

 

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U.A.E. Becomes First Arab Nation to Open a Nuclear Power Plant

UAE Nuclear Power Plant launches the Barakah facility, delivering clean electricity to the Middle East under IAEA safeguards amid Gulf tensions, proliferation risks, and debates over renewables, natural gas, grid resilience, and energy security.

 

Key Points

The UAE Nuclear Power Plant, Barakah, is a civilian facility expected to supply 25% of electricity under IAEA oversight.

✅ Barakah reactors target 25% of national electricity.

✅ Operates under IAEA oversight, no enrichment per US 123 deal.

✅ Raises regional security, proliferation, and environmental concerns.

 

The United Arab Emirates became the first Arab country to open a nuclear power plant on Saturday, following a crucial step in Abu Dhabi earlier in the project, raising concerns about the long-term consequences of introducing more nuclear programs to the Middle East.

Two other countries in the region — Israel and Iran — already have nuclear capabilities. Israel has an unacknowledged nuclear weapons arsenal and Iran has a controversial uranium enrichment program that it insists is solely for peaceful purposes.

The U.A.E., a tiny nation that has become a regional heavyweight and international business center, said it built the plant to decrease its reliance on the oil that has powered and enriched the country and its Gulf neighbors for decades. It said that once its four units were all running, the South Korean-designed plant would provide a quarter of the country’s electricity, with Unit 1 reaching 100% power as a milestone toward commercial operations.

Seeking to quiet fears that it was trying to build muscle to use against its regional rivals, it has insisted that it intends to use its nuclear program only for energy purposes.

But with Iran in a standoff with Western powers over its nuclear program, Israel in the neighborhood and tensions high among Gulf countries, some analysts view the new plant — and any that may follow — as a security and environmental headache. Other Arab countries, including Saudi Arabia and Iraq, are also starting or planning nuclear energy programs.

The Middle East is already riven with enmities that pit Saudi Arabia and the U.A.E. against Iran, Qatar and Iran’s regional proxies. One of those proxies, the Yemen-based Houthi rebel group, claimed an attack on the Barakah plant when it was under construction in 2017.

And Iran is widely believed to be behind a series of attacks on Saudi oil facilities and oil tankers passing through the Gulf over the last year.

“The UAE’s investment in these four nuclear reactors risks further destabilizing the volatile Gulf region, damaging the environment and raising the possibility of nuclear proliferation,” Paul Dorfman, a researcher at University College London’s Energy Institute, wrote in an op-ed in March.

Noting that the U.A.E. had other energy options, including “some of the best solar energy resources in the world,” he added that “the nature of Emirate interest in nuclear may lie hidden in plain sight — nuclear weapon proliferation.”
But the U.A.E. has said it considered natural gas and renewable energy sources before dismissing them in favor of nuclear energy because they would not produce enough for its needs.

Offering evidence that its intentions are peaceful, it points to its collaborations with the International Atomic Energy Agency, which has reviewed the Barakah project, and the United States, with which it signed a nuclear energy cooperation agreement in 2009 that allows it to receive nuclear materials and technical assistance from the United States while barring it from uranium enrichment and other possible bomb-development activities.

That has not persuaded Qatar, which last year lodged a complaint with the international nuclear watchdog group over the Barakah plant, calling it “a serious threat to the stability of the region and its environment.”

The U.A.E.’s oil exports account for about a quarter of its total gross domestic product. Despite its gusher of oil, it has imported increasing amounts of natural gas in recent years in part to power its energy-intensive desalination plants.

“We proudly witness the start of Barakah nuclear power plant operations, in alignment with the highest international safety standards,” Mohammed bin Zayed, the U.A.E.’s de facto ruler, tweeted on Saturday.

The new nuclear facility, which is in the Gharbiya region on the coast, close to Qatar and Saudi Arabia, is the first of several prospective Middle East nuclear plants, even as Europe reduces nuclear capacity elsewhere. Egypt plans to build a power plant with four nuclear reactors.

Saudi Arabia is also building a civilian nuclear reactor while pursuing a nuclear cooperation deal with the United States, and globally, China's nuclear program remains on a steady development track, though the Trump administration has said it would sign such an agreement only if it includes safeguards against weapons development.

 

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Cabinet Of Ministers Of Ukraine - Prime Minister: Our Goal In The Energy Sector Is To Synchronize Ukraine's Integrated Power System With Entso-e

Ukraine's EU Energy Integration aims for ENTSO-E synchronization, electricity market liberalization, EU Green Deal alignment, energy efficiency upgrades, hydrogen development, and streamlined grid connections to accelerate reform, market pricing, and sustainable growth.

 

Key Points

Ukraine's EU Energy Integration syncs with ENTSO-E, liberalizes power markets, and aligns with the EU Green Deal.

✅ ENTSO-E grid synchronization and cross-border trade readiness

✅ Electricity market liberalization and market-based pricing

✅ EU Green Deal alignment: efficiency, hydrogen, coal regions

 

Ukraine's goal in the energy sector is to ensure the maximum integration of energy markets with EU markets, and in line with the EU plan to dump Russian energy that is reshaping the region, synchronization of Ukraine's integrated energy system with ENTSO-E while leaning on electricity imports as needed to maintain stability. Prime Minister Denys Shmyhal emphasized in his statement at the Fourth Ukraine Reform Conference underway through July 7-8 in Vilnius, the Republic of Lithuania.

The Head of Government presented a plan of reforms in Ukraine until 2030. In particular, energy sector reform and environmental protection, according to the PM, include the liberalization of the electricity market, with recent amendments to the market law guiding implementation, the simplification of connection to the electrical grid system and the gradual transition to market electricity prices, alongside potential EU emergency price measures under discussion, and the monetization of subsidies for vulnerable groups.

"Ukraine shares and fully supports the EU's climate ambitions and aims to synchronize its policies in line with the EU Green Deal, including awareness of Hungary's energy alignment with Russia to ensure coherent regional planning. The interdepartmental working group has determined priority areas for cooperation with the European Union: energy efficiency, hydrogen, transformation of coal regions, waste management," said the Prime Minister.

According to Denys Shmyhal, Ukraine has supported the EU's climate ambitions to move towards climate-neutral development by 2050 within the framework of the European Green Deal and should become an integral part of it in order not only to combat the effects of climate change in synergy with the EU but, as the country prepares for winter energy challenges and strengthens resilience, within the economic strategy development aimed to enhance security and create new opportunities for Ukrainian business, with continued energy security support from partners bolstering implementation.

 

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