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Lebanon-ENOC Fuel Swap secures Iraqi high sulphur fuel oil, Grade B fuel oil, and gasoil via tender, easing electricity generation shortfalls, diesel shortages, and grid outages amid Lebanon's energy crisis and power sector emergency.

Key Points

A tender-based exchange trading Iraqi HSFO for cleaner fuel oil and gasoil to stabilize Lebanon's electricity generation.

✅ Swaps 84,000t Iraqi HSFO for 30,000t Grade B fuel oil and 33,000t gasoil

✅ Supports state electricity generation during acute power shortages

✅ Tender won by ENOC under Lebanon-Iraq goods-for-fuel deal

Lebanon's energy ministry said it had picked Dubai's ENOC in a tender to swap 84,000 tonnes of Iraqi high sulphur fuel oil, as LNG export authorizations expand globally, with 30,000 tonnes of Grade B fuel oil and 33,000 tonnes of gasoil.

ENOC won the tender, part of a deal between the two countries that allows the cash-strapped Lebanese government, even as electricity tensions persist, to pay for 1 million tonnes of Iraqi heavy fuel oil a year in goods and services.

As Lebanon suffers what the World Bank has described as one of the deepest depressions of modern history, shortages of fuel this month have meant state-powered electricity, alongside ongoing electricity sector reform, has been available for barely a few hours a day if at all.

Residents turning to private generators for their power supply face diesel shortages, even as other countries roll out measures to secure electricity supplies to mitigate risks.

The swap tenders are essential as Iraqi fuel is unsuitable for Lebanese electricity generation, and regional projects like the Jordan-Saudi electricity linkage underscore broader grid strategies.

Lebanese caretaker Energy Minister Raymond Ghajar said in July the fuel from the Iraqi deal would be used for electricity generation by the state provider, even as France advances a new electricity pricing scheme in Europe, and was enough for around four months.

ENOC is set to receive the Iraq fuel between Sept. 3-5 and will deliver it to Lebanon two weeks after, the energy ministry said, following a recent deal on electricity prices abroad that could influence markets.

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PJM Capacity Auction Price Drop signals PJM Interconnection capacity market shifts, with $50/MW-day clearing, higher renewables and nuclear participation, declining coal, natural gas pressure, and zone impacts in ComEd and EMAAC, amid 21% reserve margins.

Key Points

A decline to $50 per MW-day in PJM capacity prices, shifting resource mix, zonal rates, and reserve margins.

✅ Clearing price fell to $50/MW-day from $140 in 2018

✅ Renewables and nuclear up; coal units down across PJM

✅ Zonal prices: ComEd $68.96, EMAAC $97.86; 21% reserves

Power-plant owners serving the biggest U.S. grid will be paid 64% less next year for being on standby to keep the lights on from New Jersey to Illinois.

Suppliers to PJM Interconnection LLC’s grid, which serves more than 65 million people, will get $50 a megawatt-day to provide capacity for the the year starting June 2022, according to the results of an auction released Wednesday. That’s down sharply from $140 in the previous auction, held in 2018. Analysts had expected the price would fall to about $85.

“Renewables, nuclear and new natural gas generators saw the greatest increases in cleared capacity, while coal units saw the largest decrease,” PJM said in a statement.

The PJM auction is the single most important event for power generators across the eastern U.S., including Calpine Corp., NRG Energy Inc. and Exelon Corp., because it dictates a big chunk of their future revenue. It also plays a pivotal role in shaping the region’s electricity mix, determining how much the region is willing to stick with coal and natural gas plants or replace them with wind and solar even as the aging grid complicates progress nationwide.

The results showed that the capacity price for the Chicago-area zone, known as ComEd, was $68.96 compared with $195.55 in the last auction. The price for the Pennsylvania and New Jersey zone, known as EMAAC, fell to $97.86 percent, from $165.73. All told, 144,477 megawatts cleared, representing a reserve margin of 21%.

Exelon shares fell 0.4% after the results were released. Vistra fell 1.5%. NRG was unchanged.

Blackouts triggered by extreme weather in Texas and California over the last year have reignited a debate over whether other regions should institute capacity systems similar to the one used by PJM, and whether to adopt measures like emergency fuel stock programs in New England as well. The market, which pays generators to be on standby in case extra power is needed, has long been a source of controversy. While it makes the grid more reliable, the system drives up costs for consumers. In the area around Chicago, for instance, these charges total more than $1.7 billion per year, accounting for 20% of customer bills, according to the Illinois Clean Jobs Coalition.

In the 2018 auction, PJM contracted supplies that were about 22% in excess of the peak demand projection at the time. This year, the grid is projected to start summer with a reserve margin of about 26%, as COVID-19 demand shifts persist, according to the market monitor -- far higher than the 16% most engineers say is needed to prevent major outages.

“This certainly doesn’t seem fair to ratepayers,” said Ari Peskoe, director of Harvard Law School’s Electricity Law Initiative.

Fossil-Fuel Advantage
Heading into the auction, analysts expected coal and gas plants to have the advantage. Nuclear reactors and renewables, they said, were poised to struggle amid coal and nuclear disruptions nationwide.

That’s because this is the first PJM auction run under a major pricing change imposed by federal regulators during the Trump administration. The new structure creates a price floor for some bidders, effectively hobbling nuclear and renewables that receive state subsidies while making it easier for fossil fuels to compete.

Those rules triggered contentious wrangling between power providers, PJM and federal regulators, delaying the auction for two years. The new system, however, may be short lived. The Biden administration is moving to overhaul the rules in time for the next auction in December.

Also See: Biden Climate Goals to Take Backseat in Biggest U.S. Power Grid

Dominion Energy Inc., one of the biggest U.S. utility owners, pulled out of the market over the rules. The Virginia-based company, which has a goal to have net-zero carbon emissions by 2050, said the new PJM format will “make renewables more expensive” than delivering clean energy through alternative markets.

Illinois, New Jersey and Maryland have also threatened to leave the capacity market unless the new price floor is eliminated, and Connecticut is leading a market overhaul in New England as well. PJM has already launched a process to do it.

PJM is already one of the most fossil-fuel intensive grids, with 60% of its electricity coming from coal and gas. Power plants that bid into the auction rely on it for the bulk of their revenue. That means plants that win contracts have an incentive to continue operating for as long as they can, even amid a supply-chain crisis this summer.

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ADNOC Hydrogen Export Projects target global energy transition, courting investors and equity stakes for blue and green hydrogen, ammonia shipping, CCS at Ruwais, and long-term supply contracts across power, transport, and industrial sectors.

Key Points

ADNOC plans blue and green hydrogen exports, leveraging Ruwais, CCS, and ammonia to secure long-term supply.

✅ Blue hydrogen via gas reforming with CCS; ammonia for shipping.

✅ Green hydrogen from solar-powered electrolysis under development.

✅ Ruwais expansions and Fertiglobe ammonia tie-up target long-term supply.

Abu Dhabi is seeking investors to help build hydrogen-export facilities, as Middle Eastern oil producers plan to adopt cleaner energy solutions, sources told Bloomberg.

Abu Dhabi National Oil Company (ADNOC) is holding talks with energy companies for them to purchase equity stakes in the hydrogen projects, the sources referred, as Germany's hydrogen strategy signals rising import demand.

ADNOC, which already produces hydrogen for its refineries, also aims to enter into long-term supply contracts, as Canada-Germany clean energy cooperation illustrates growing cross-border demand, before making any progress with these investments.

Amid a global push to reduce greenhouse-gas emissions, the state-owned oil companies in the Gulf region seek to turn their expertise in exporting liquid fuel into shipping hydrogen or ammonia across the world for clean and universal electricity needs, transport, and industrial use.

Most of the ADNOC exports are expected to be blue hydrogen, created by converting natural gas and capturing the carbon dioxide by-product that can enable using CO2 to generate electricity approaches, according to Bloomberg.

The sources said that the Abu Dhabi-based company will raise its production of hydrogen by expanding an oil-processing plant and the Borouge petrochemical facility at the Ruwais industrial hub, supporting a sustainable electric planet vision, as the extra hydrogen will be used for an ammonia facility planned with Fertiglobe.

Abu Dhabi also plans to develop green hydrogen, similar to clean hydrogen in Canada initiatives, which is generated from renewable energy such as solar power.

Noteworthy to mention, in May 2021, ADNOC announced that it will construct a world-scale blue ammonia production facility in Ruwais in Abu Dhabi to contribute to the UAE's efforts to create local and international hydrogen value chains.

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Alberta Solar Power is accelerating as renewable energy investment, PPAs, and utility-scale projects expand the grid, with independent power producers and foreign capital outperforming AESO forecasts in oil-and-gas-rich markets across Alberta and Calgary.

Key Points

Alberta Solar Power is a fast-growing provincial market, driven by PPAs and private investment, outpacing AESO forecasts.

✅ Utility-scale projects and PPAs expand capacity beyond AESO outlooks

✅ Private and foreign capital drive independent power producers

✅ Costs near $70/MWh challenge >$100/MWh assumptions

Solar power is beating expectations in oil and gas rich Alberta, where the renewable energy source is poised to expand dramatically amid a renewable energy surge in the coming years as international power companies invest in the province.

Fresh capital is being deployed in the Alberta’s electricity generation sector for both renewable and natural gas-fired power projects after years of uncertainty caused by changes and reversals in the province’s power market, said Duane Reid-Carlson, president of power consulting firm EDC Associates, who advises renewable power developers on electric projects in the province.

“From the mix of projects that we see in the queue at the (Alberta Electric System Operator) and the projects that have been announced, Alberta, a powerhouse for both green energy and fossil fuels, has no shortage of thermal and renewable projects,” Reid-Carlson said, adding that he sees “a great mix” of independent power companies and foreign firms looking to build renewable projects in Alberta.

Alberta is a unique power market in Canada because its electricity supply is not dominated by a Crown corporation such as BC Hydro, Hydro One or Hydro Quebec. Instead, a mix of private-sector companies and a few municipally owned utilities generate electricity, transmit and distribute that power to households and industries under long-term contracts.

Last week, Perimeter Solar Inc., backed by Danish solar power investor Obton AS, announced Sept. 30 that it had struck a deal to sell renewable energy to Calgary-based pipeline giant TC Energy Corp. with 74.25 megawatts of electricity from a new 130-MW solar power project immediately south of Calgary. Neither company disclosed the costs of the transaction or the project.

“We are very pleased that of all the potential off-takers in the market for energy, we have signed with a company as reputable as TC Energy,” Obton CEO Anders Marcus said in a release announcing the deal, which it called “the largest negotiated energy supply agreement with a North American energy company.”

Perimeter expects to break ground on the project, which will more than double the amount of solar power being produced in the province, by the end of this year.

A report published Monday by the Energy Information Administration, a unit of the U.S. Department of Energy, estimated that renewable energy powered 3 per cent of Canada’s energy consumption in 2018.

Between the Claresholm project and other planned solar installations, utility companies are poised to install far more solar power than the province is currently planning for, even as Alberta faces challenges with solar expansion today.

University of Calgary adjunct professor Blake Shaffer said it was “ironic” that the Claresholm Solar project was announced the exact same day as the Alberta Electric System Operator released a forecast that under-projected the amount of solar in the province’s electric grid.

The power grid operator (AESO) released its forecast on Sept. 30, which predicted that solar power projects would provide just 1 per cent of Alberta’s electricity supply by 2030 at 231 megawatts.

Shaffer said the AESO, which manages and operates the province’s electricity grid, is assuming that on a levelized basis solar power will need a price over $100 per megawatt hour for new investment. However, he said, based on recent solar contracts for government infrastructure projects, the cost is closer to $70 MW/h.

Most forecasting organizations like the International Energy Agency have had to adjust their forecasts for solar power adoption higher in the past, as growth of the renewable energy source has outperformed expectations.

Calgary-based Greengate Power has also proposed a $500-million, 400-MW solar project near Vulcan, a town roughly one-hour by car southeast of Calgary.

“So now we’re getting close to 700 MW (of solar power),” Shaffer said, which is three times the AESO forecast.

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Omnidian Acquisition of Solar Service Guys accelerates global expansion in renewable energy, enhancing solar maintenance and remote monitoring across Australia and the U.S., boosting performance management, uptime, and ROI for residential and commercial systems.

Key Points

Omnidian acquired Solar Service Guys to expand in Australia, unifying O&M and monitoring to boost solar performance.

✅ Expands Omnidian into Australia's high-adoption solar market.

✅ Integrates largest Aussie solar service network for O&M scaling.

✅ Enhances remote monitoring, uptime, and ROI for PV owners.

In a strategic move aimed at boosting its presence in the global renewable energy market, Seattle-based Omnidian has announced the acquisition of Australia's Solar Service Guys. This acquisition marks a significant step in Omnidian's expansion into Australia, one of the world’s leading solar markets, and is expected to reshape the landscape of solar panel services both in the U.S. renewables market and abroad.

Founded in 2018, Omnidian is a rapidly growing startup that specializes in managing the performance of solar power systems, ensuring they continue to operate efficiently and effectively. The company provides maintenance services for both residential and commercial solar installations, including in Washington where Avista's largest solar array highlights growing scale, and its proprietary software remotely monitors solar systems to identify any performance issues. By quickly addressing these problems, Omnidian helps customers maximize the energy output of their systems, reducing downtime and increasing the return on investment in solar power.

The company’s acquisition of Solar Service Guys, Australia’s largest solar service network, is a clear indication of its ambition to dominate the renewable energy sector globally, amid consolidation trends like TotalEnergies' VSB acquisition across Europe, that signal accelerating scale. The Australian company, which has been operational since 2006, has built a strong reputation for providing high-quality solar panel services across the country. By integrating Solar Service Guys into its operations, Omnidian plans to leverage the Australian company’s deep industry expertise and established network to extend its service offerings into Australia’s solar market.

The acquisition could not come at a better time. Australia, with its vast sun-drenched landscapes, is one of the world’s leaders in solar energy adoption per capita, even as markets like Canada's solar lag persist by comparison. The country has long been at the forefront of renewable energy development, and this acquisition presents a significant opportunity for Omnidian to tap into a booming market where solar power is increasingly seen as a primary energy source.

With the deal now finalized, Solar Service Guys will operate as a fully integrated subsidiary of Omnidian. The merger will not only strengthen Omnidian’s service capabilities but will also enhance its ability to provide comprehensive solutions to solar system owners, ensuring their panels perform at peak efficiency over their lifetime. This is particularly important as solar energy continues to grow in popularity, with more residential and commercial properties opting for solar installations as a means to lower energy costs and reduce their carbon footprints.

The acquisition also underscores the growing importance of solar energy maintenance services. As the adoption of solar panels continues to rise globally, including in Europe where demand for U.S. solar gear is strengthening, the need for ongoing monitoring and maintenance is becoming increasingly vital. Solar energy systems, while relatively low-maintenance, do require periodic checks to ensure they are functioning optimally. Omnidian’s software-based approach to remotely detecting performance issues allows the company to quickly identify and address potential problems before they become costly or result in significant energy loss.

By expanding its reach into Australia, Omnidian can now offer its services to an even broader customer base, positioning itself as a key player in the renewable energy market. The Australian solar market is projected to continue its growth trajectory, with many homeowners and businesses in the country looking to make the switch to solar power in the coming years.

In addition to expanding its geographic footprint, Omnidian’s acquisition of Solar Service Guys aligns with its broader mission to support the global transition to renewable energy. As governments worldwide push for cleaner energy alternatives and new projects like a U.S. clean energy factory accelerate domestic supply chains, companies like Omnidian are playing an essential role in making solar power a more reliable and sustainable option for consumers.

With the backing of Solar Service Guys’ extensive network and experience, Omnidian is poised to deliver even greater value to its customers, as industry transactions like Canadian Solar's plant sale underscore active market realignment. The acquisition will also help the company strengthen its technological capabilities, improve its service offerings, and accelerate its mission to create a more sustainable energy future.

As Omnidian continues to grow, the company’s success will likely serve as a model for other startups in the renewable energy sector. By focusing on performance management, expanding its service offerings, and leveraging cutting-edge technology, Omnidian is well-positioned to lead the way in the next generation of solar energy solutions. The future looks bright for Omnidian, and with this acquisition, it is well on its way to becoming a dominant force in the global solar market.

Omnidian’s acquisition of Solar Service Guys marks a significant milestone in the company’s quest to revolutionize the renewable energy industry. By expanding into Australia and enhancing its service capabilities, Omnidian is not only strengthening its position in the market but also contributing to the global push for cleaner, more sustainable energy solutions. As the world continues to embrace solar power, companies like Omnidian will be essential in ensuring that solar systems operate at peak efficiency, helping customers maximize the benefits of their investment in renewable energy.

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Muskrat Falls rate mitigation offsets Newfoundland Power's rate stabilization decrease as NL Hydro begins cost recovery; Public Utilities Board approval enables collections while Labrador-Island Link nears commissioning, stabilizing electricity rates despite megaproject delays, overruns.

Key Points

Muskrat Falls rate mitigation is NL Hydro's cost recovery via power rates to stabilize bills as commissioning nears.

✅ Offsets 6.4% decrease with a 6.1% rate increase

✅ About 6% now funds NL Hydro's rate mitigation

✅ Collections begin as Labrador-Island Link nears commissioning

With their July electricity bill, Newfoundland Power customers have begun paying for Muskrat Falls, though a lump-sum credit was also announced to offset costs and bills haven't significantly increased — yet.

In a July newsletter, Newfoundland Power said electricity bills were set to decrease by 6.4 per cent as part of the annual rate stabilization adjustment, which reflects the cost of electricity generation.

Instead, that decrease has been offset by a 6.1 increase in electricity rates so Newfoundland and Labrador Hydro can begin recovering the cost of Muskrat Falls, with a $5.2-billion federal package also underpinning the project, the $13-billion hydroelectric megaproject that is billions over budget and years behind schedule.

That means for residential customers, electricity rates will decrease to 12.346 cents per kilowatt, though the basic customer charge will go up slightly from $15.81 to $15.83. According to an N.L. Hydro spokesperson, about six per cent of electricity bills will now go toward what it calls a "rate mitigation fund." 

N.L. Hydro claims victory in Muskrat Falls arbitration dispute with Astaldi
Software troubles blamed for $260M Muskrat Falls cost increase, with N.L. power rates stable for now
The spokesperson said N.L. Hydro is expecting the rate increase to result in $43 million this year, according to a recent financial update from the energy corporation — a tiny fraction of the project's cost. 

N.L. Hydro asked the Public Utilities Board to approve the rate increase, a process similar to Nova Scotia's recent 14% approval by its regulator, in May. In a letter, Energy, Industry and Technology Minister Andrew Parsons supported the increase, though he asked N.L. Hydro to keep electricity rates "as close to current levels as possible. 

Province modifies order in council
Muskrat Falls is not yet fully online — largely due to software problems with the Labrador-Island Link transmission line — and an order in council dictated that ratepayers on the island of Newfoundland would not begin paying for the project until the project was fully commissioned. 

The provincial government modified that order in council so N.L. Hydro can begin collecting costs associated with Muskrat Falls once the project is "nearing" commissioning.

In June, N.L. Hydro said the project was expected to finally be completed by the end of the year.

In an interview with CBC News, Progressive Conservative interim leader David Brazil said the decision to begin recovering the cost of Muskrat Falls from consumers should have been delayed.

"There was an opportunity here for people to get some reprieve when it came to their electricity bills and this administration chose not to do that, not to help the people while they're struggling," he said.

In a statement, Parsons said reducing the rate was not an option, and would have resulted in increased borrowing costs for Muskrat Falls.

"Reducing the rate for one year to have it increase significantly the following year is not consistent with rate mitigation and also places an increased financial burden on taxpayers one year from now," Parsons said.

Decision 'reasonable': Consumer advocate
Brazil said his party didn't know the payments from Muskrat Falls would start in July, and criticized the government for not being more transparent.

A person wearing a blue shirt and black blazer stands outside on a lawn.
N.L. consumer advocate Dennis Browne says it makes sense to begin recouping the cost of Muskrat Falls. (Garrett Barry/CBC)
Newfoundland and Labrador consumer advocate Dennis Browne said the decision to begin collecting costs from consumers was "reasonable."

"We're into a financial hole due to Muskrat Falls, and what has happened is in order to stabilize rates, we have gone into rate stabilization efforts," he said.

In February, the provincial and federal governments signed a complex agreement to shield ratepayers aimed at softening the worst of the financial impact from Muskrat Falls. Browne noted even with the agreement, the provincial government will have to pay hundreds of millions in order to stabilize electricity rates.

"Muskrat Falls would cost us $0.23 a kilowatt, and that is out of the range of affordability for most people, and that's why we're into rate mitigation," he said. "This was part of a rate mitigation effort, and I accepted it as part of that."

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