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News Archive

Power

Belgian Electrabel increases profits by 5.3% to EUR 999 million

Belgium’s Electrabel increased net profits (after tax) rose 5.3% to EUR 999 million compared to EUR 949 million in 2002, it announced at its 2003 annual results conference. EBITDA fell 2.8% to EUR...

27 Feb 2004 00:00 | EDEM

Power

British Energy reports small profit; uncertainty on Commission ruling prevails

British Energy has attributed the increase in operating profits reported for the third quarter to the sale of its 50% stake in AmerGen and cited the European Commission as the main barrier to...

27 Feb 2004 00:00 | EDEM

Power

Carbon market update: Subdued activity on information overload

It was another very subdued week on the market for EU emission allowances, with a lack of market activity compounded by a widening of the bid-offer spread and the total absence of a bid for...

27 Feb 2004 00:00 | EDEM

Power

CEZ posts big profits on exports, asset sale

Czech utility CEZ has reported a doubling of its 2003 unconsolidated net profit to 13.93 billion crowns (EUR 0.43 million) from 6.71 billion on higher exports and and the sale of a 66% stake in the...

27 Feb 2004 00:00 | EDEM

Power

Cold snap fails to move the market

Colder weather had little effect on prices this week as most players are well prepared, not just for seasonal temperatures but also for the spikes that plague the Dutch market. “The spike will come...

27 Feb 2004 00:00 | EDEM

Power

Contracts firm across the market ahead on colder weather

The Day-ahead contract posted further gains in the French power market on Friday on the back of widespread expectations of extremely cold weather for the start of next week. Day-ahead Baseload...

27 Feb 2004 00:00 | EDEM

Gas

EGM Comments

Hub development is a tricky matter. The PSV has made a hopeful start in Italy, and will probably grow as fast as the supply situation loosens (see page 7). But as the number of hubs grows on the...

27 Feb 2004 00:00 | EGM

Power

Energywatch urges continued vigilance against mis-selling

While the number of consumer complaints about direct selling have fallen to a new low, customer group energywatch says more needs to be done to protect consumers against “unscrupulous energy...

27 Feb 2004 00:00 | EDEM

Power

Germany disputes Obrigheim as site for EnBW’s gas-fired power plant

EnBW c.e.o. Utz Claassen has dampened down speculation that plans to build a gas-fired power plant on the site of its soon-to-be decommissioned 357 MW Obrigheim nuclear power plant have been dropped....

27 Feb 2004 00:00 | EDEM

Power

International Power posts £219 million loss; says will revamp US business

International Power Plc on Friday posted a full-year net loss of £219 million pounds (EUR 328.28 million) after exceptional items. In 2002, it made a profit of £113 million pounds. Earnings dropped...

27 Feb 2004 00:00 | EDEM

Power

Liquidity flags as Pool lifts prices

After last week’s record level of 14 trades, dealing flagged somewhat to just four this week. Prices were firmer after declines so far this month as the Pool average price moved up and spiked...

27 Feb 2004 00:00 | EDEM

Power

New Department of Trade show greater use of coal in generation

New data published Thursday by the UK Department of Trade and Industry shows that the use of coal by power generators rose to 53.3 million tonnes in 2003 — an increase of 11.6% on the previous year,...

27 Feb 2004 00:00 | EDEM

Gas

NEWS briefs

CompaniesResults - Norwegian energy, metals and fertilisers group Norsk Hydro has posted a 19% rise in profit for the fourth quarter to NOK 8.38 billion, boosted by high oil and gas prices and...

27 Feb 2004 00:00 | EGM

Power

Nordic Outages: Vattenfall shuts two units of Stenungsund

As of the 1st March 2004 Vattenfall’s Stenungsund plant will no longer listed at the Svenska Kraftnaet power reserve in Sweden. Units B3 and B4 of the oil-powered plant will be on 48-hour standby....

27 Feb 2004 00:00 | EDEM

Gas

People in the gas industry

RWE Gas c.e.o. Dr Manfred Scholle and Dr. Ingo Westen, who oversaw gas procurement, sales and grid network operations in the former gas subsidiary of German utility RWE, will step down from their...

27 Feb 2004 00:00 | EGM

Power

Portugal’s EDP to lead wave of privatisations

Portugal will trim its 30% stake in Electricidade de Portugal (EDP) to as low as 10% by end-March 2005 as part of a new phase of privatisations, it was reported on Friday. Premier Jose Manuel Durao...

27 Feb 2004 00:00 | EDEM

Power

ScottishPower completes Cruach Mhor windfarm

Scottish Power has announced the completion of the 35-turbine Cruach Mhor windfarm in Argyll with the erection on Friday of the final unit, bringing 30 megawatts of green energy, or enough to power...

27 Feb 2004 00:00 | EDEM

Power

Swiss Atel increases profits by 60% to EUR 172.6 million

Swiss utility Atel said on Friday it had increased profits by 60% year-on-year to a record CHF 272 million (EUR 172.6 million) in 2003. It increased consolidated turnover by 43% to CHF 5.3 billion...

27 Feb 2004 00:00 | EDEM

Power

UK gas and power markets get new trader with entry of Foundation Energy

Foundation Energy Limited, the London-based independent energy trading and marketing company said on Friday it had closed a transaction with Ritchie Capital Management of Illinois, under which an...

27 Feb 2004 00:00 | EDEM

Power

UK’s renewable energy policy cannot rely on wind alone, says DTI

Windpower is likely to be the dominant renewable technology until 2020, says a report conducted jointly by the Department of Trade and Industry and the Carbon Trust. Both on and off-shore wind can...

27 Feb 2004 00:00 | EDEM

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