Oil Price The U.S. grid’s vulnerability to cyberattacks has grown, the North American Electric Reliability Corporation has warned. According to the regulator, the number of vulnerability points in the grid had grown from between 21,000 and 22,000 at the end of 2022 to 23,000-24,000 at the end of 2023. “It’s very hard to keep pace with addressing all those vulnerabilities,”
Oil Price In her State of the Union address this week, EC President Ursula von der Leyen made a point about the EU’s growing independence in sectors such as energy, chips, and raw materials. The official stressed the importance of these raw materials for energy, after which she went on to slam China for unfair market practices. Was she
Nasdaq LONDON – U.S. manufacturers reported that business activity declined for the 10th month running in August, though declines are becoming less widespread implying the trough in the cycle may be approaching. The Institute for Supply Management’s purchasing managers index increased slightly to 47.6 (16th percentile for all months since 1980) in August up from 46.4 (13th percentile) in July
Oil Price The U.S. government has unveiled tighter rules on electric vehicle (EV) tax credits to curb the nation’s reliance on China’s EV battery supply chains. As part of President Joe Biden’s push to make 50% of U.S. new vehicle sales EVs or plug-in hybrids by 2030, the new sourcing requirements will reduce or eliminate credits on some zero-emission models. The
Fox Business Lithium prices are rising at their fastest pace in years, setting off a race to secure supplies and fueling worries about long-term shortages of a vital ingredient in the rechargeable batteries that power everything from electric vehicles to smartphones. An index of lithium prices from research firm and price provider Benchmark Mineral Intelligence doubled between May and November and
World Oil OSLO – A new forecast of the energy transition from DNV has warned that even if all electricity was ‘green’ from this day forward, the world will still fall a long way short of achieving the 2050 net zero emissions ambitions of the COP21 Paris Agreement. DNV’s Energy Transition Outlook, now in its fifth year and launched two
CNBC The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met, according to the International Energy Agency. A new report from the Paris-based organization, published Wednesday and entitled “The Role of Critical Minerals in Clean Energy
Reuters The head of Texas’s power regulator told lawmakers on Thursday that any effort to retroactively reduce the power prices levied during a recent storm would lead to lawsuits that the state could lose. The state’s power grid operator raised power prices sharply during a February freeze that pushed two power companies into bankruptcy and others have warned of potential
Reuters HOUSTON – Texas’ state power regulator on Friday unanimously vetoed a request to cut about $16 billion from state power charges during the final day of the state’s February cold snap, saying even a partial repricing could have unintended effects. The Public Utility Commission deferred voting on a separate proposal to slice service fees that would have saved retail
Reuters Texas’ power grid operator Electric Reliability Council of Texas (ERCOT) made a $16 billion pricing error in the week of the winter storm that led to power outages across the state, Potomac Economics, which monitors the state’s power market, said. ERCOT kept market prices for power too high for more than a day after widespread outages ended late on
Reuters During several days of brutal cold in Texas, the city of Austin saw its fleet of 12 new electric buses rendered inoperative by a statewide power outage. That problem will be magnified next year, when officials plan to start purchasing electric-powered vehicles exclusively. The city’s transit agency has budgeted $650 million over 20 years for electric buses and a
EIA About 25% of U.S. power plants can start up—going from being shut down to fully operating—within one hour, based on data collected in EIA’s annual survey of electric generators. Some power plants, especially those powered by coal and nuclear fuel, require more than half a day to reach full operations. The time it takes a power plant to reach full
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