Best in Energy – 20 December 2022

European Union approves gas price cap

France upgrades electric reliability forecast

China completes 16 GW Beihetan hydro project

Commercial buildings and energy efficiency ($FT)

U.S. Treasury delays battery subsidy rules ($WSJ)

EUROPEAN gas futures prices for deliveries in March 2023, the end of the heating season, have been falling since early December, as traders become more confident there will be enough to satisfy consumption this winter. Prices are currently trading around €106/MWh down from €150 on December 7:

U.S. CONTAINER trade through the nine most important container ports was equivalent to just 2.72 million TEUs in October, down from 2.94 million TEUs in October 2021, and the lowest for the time of year since 2017, as manufacturers and retailers attempted to reduce excess inventories by reducing new orders:

Best in Energy – 12 September 2022

German households stock up on electric heaters¹

Germany’s north benefits from wind resources

France appeals for grid-to-grid support ($FT)

Droughts and hydropower reliability ($WSJ)

Boreal forests and a warming climate ($FT)

HEDGE FUNDS and other money managers increased short positions in NYMEX WTI futures and options by +2 million bbl to 44 million bbl in the week to September 6, among the largest number of short positions since Russia’s invasion of Ukraine in late February. Bearish sentiment has been gradually building since the start of June as the economy slows under the combined impact of supply chain problems, inflation and rising interest rates:

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Best in Energy – 11 May 2022

India’s railways struggle to transport enough coal

India relaxes coal mine environmental rules ($BBG)

Ukraine cuts Russian pipeline gas flows to Europe

Global mining is central to future energy system

BlackRock updates energy-climate investor principles

Germany plans for disruption of Russian gas supply

U.S. ammonia prices increase with global gas prices

Nigeria subsidises fuel to keep aircraft flying ($BBG)

China forecasts record rain along south coast (trans.)

China issues flood warnings along the Yangtze (trans.)

China hydro generation rises on heavy rains ($BBG)

U.K. threatens energy majors with windfall tax ($FT)

U.S. inflation – how prices are really measured ($WSJ)

CHINA generated a record 221 TWh of hydro electricity in the first three months of the year, up from 196 TWh in the same period in 2021, relieving pressure on coal and gas inventories and prices:

U.S. EQUITY PRICES signal investors expect an imminent business cyclical slowdown – either a mid-cycle soft patch or an end-of-cycle recession. The S&P 500 index is down by almost 5% compared with the end of May 2021 and down by more than 11% in real terms: