Austrian utility Verbund has acquired a 17% stake in Italian energy firm Energia SpA for EUR 150 million, according to a statement from Energia’s parent company CIR. The value of equity of Energia is...

CGE, the consortium set up by six banks to acquire financially distressed power stations, has withdrawn its offers for all plants. The company’s backers Abbey, Bayerische Landesbank, Bank of...

Collins Stewart Tullett, the international broking firm has signed a heads of agreement to take over rival broker Prebon Group for around £130 million (EUR 195 million), Collins Stewart said on...

The resignation of Trafigura Energy’s director of gas and power trading, David Mooney last week has left the future of the company’s gas and power trading activities uncertain. “We’re going to review...

EdF, France’s incumbent power producer, denied press reports on Thursday that it expects a 10-15% price hike for commercial customers by 2007. A spokesman for EdF said the estimate, which had come...

The c.e.o. of the Energy Networks Association (ENA), Nick Goodall, told delegates at Wednesday’s All-Energy Opportunities renewables conference in Aberdeen that renewable generators’ goals of...

The European Commission has announced that it is looking to re-examine its targets for the promotion of renewable energy amid concerns that the EU may fail to achieve its target of a 12% target for...

CRE, the French energy regulator, is to publish specifications for the first gas release auctions, apart from the reference price, at the end of June 2004, it said on Thursday.The gas release...

French power generation capacity was slashed by 10,000 MW from Wednesday evening to Thursday morning due to a national strike at utility EdF, according to a spokesman for strike-organising union CGT....

Energy exchange APX and Dutch transmission system operator Gastransport Services are to start a Dutch gas exchange on 1st January 2005, the companies announced on Thursday. The two companies have...

Norsk Hydro, operator during development of the Ormen Lange gas field, has awarded a NOK 660 million (EUR 80.45 million) contract to Italian pipeline company Saipem’s UK subsidiary Saipem UK. Saipem...

Hugo Rothenbühler has retired from his position as board member and head of the markets and development division of Swiss electricity and derivatives trading company EGL, the company said in a...

Nine bidders secured power in Belgian electricity producer Electrabel’s third virtual power production (VPP) auction, held on 26th May, the company said in a statement on Thursday. The incumbent...

Norwegian energy companies Norsk Hydro and Statkraft are reported in the Norwegian press to have had secret merger talks. Norwegian daily VG reports that Hydro’s Eivind Reiten and Statkraft’s Bård...

Norwegian reservoir levels increased by 2.5 percentage points in Week 21, according to the latest data supplied by the Nordic power exchange, Nord Pool. Norwegian reservoir levels rose to 46.9%...

British energy regulator Ofgem has announced it is to review the current top-up storage arrangements faced by Transco ahead of the coming winter. Under the scheme, top-up gas is held in store by...

Russia’s cabinet approved on Thursday a power tariff hike of 9.5% in 2005 by state utility UES, according to media reports. This is compared to a forecast inflation rate of 6.5-8.0%. However a 7.5%...

The Russian economy minister German Gref said on Thursday the government plans to increase its stake in gas monopoly Gazprom, according to local press reports. He did not say by how much or how this...

Star Energy, the independent oil company investing in UK gas storage, is confident its planned Welton storage facility will go ahead, despite local protests. The project for a 3,056 GWh facility in...

Swiss hydropower reservoir levels increased by 3.4 percentage points last week to an average of 18.2% fullness, according to data from the country’s federal energy office, the BFE. Levels during Week...