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☆ E.ON CEO: efforts to cut gas consumption must continue
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

FRANKFURT, Jan 17 (Reuters) - E.ON (EONGn.DE) CEO Leonhard Birnbaum said it was too early to give the all-clear regarding Germany's energy crisis, saying efforts to cut consumption needed to continue to avoid gas shortages and save costs. Reporting by Christoph Steitz Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ Bulb bailout exposes UK’s pseudo power market
▼ + stars: | 2022-12-23 | by ( George Hay | ) www.reuters.com time to read: +4 min

Bulb is the biggest of dozens of flaky British power suppliers which opted not to hedge their future costs when energy prices were cheap. The Office for Budget Responsibility expects the saga to cost taxpayers 6.5 billion pounds. Octopus itself thinks the loan could be more like 2.4 billion pounds, as wholesale prices have recently fallen. If that’s correct, regular payments by Bulb customers will cover the cost. With retail power prices fixed and the government on the hook for higher wholesale costs, Britain’s privatised power industry is operating in anything but a free market.

But there was also a wider question for the officials: could the energy companies' use of such complex instruments threaten financial stability? So the ECB has widened its scrutiny to examine potential domino effects, including on the banks which it supervises. read moreWhile ECB President Christine Lagarde said the ECB stood ready to provide liquidity to banks, she said it would not do the same for energy firms. "Energy companies pose specific risks not only to financial stability. Reuters GraphicsRating agency Moody's, meanwhile, said that energy companies did not provide enough information about their derivatives.

☆ Germany's E.ON almost fully cuts value of Nord Stream 1 stake
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, Nov 9 (Reuters) - E.ON, Europe's biggest operator of energy networks, on Wednesday said it had almost fully cut the value of its stake in Nord Stream 1, reflecting damage to the pipeline that has made the asset inoperable and whose cause is yet to be determined. "Among the reasons for this are greater uncertainty amid the current situation and, since September 26, damage to both of Nord Stream 1's pipelines whose cause is as yet unclarified," the company said. Nord Stream 1 and Nord Stream 2 were damaged in September, and the gas transport infrastructure has been a focal point in the wider row between the West and Moscow. Adjusted net profit was also down 3% at 2.1 billion euros. The company still stuck to its 2022 outlook, expecting adjusted EBITDA of 7.6 billion to 7.8 billion euros and an adjusted net income of 2.3 billion to 2.5 billion euros.

Eastern Canada, with its strong electricity-generating winds and short shipping distance, is a prime potential source for green hydrogen. Most hydrogen output uses natural gas or coal, called gray hydrogen, but companies want to produce green hydrogen without emissions by separating hydrogen from oxygen in water using wind-powered electrolyzers. Green hydrogen is typically more expensive, but soaring natural gas prices have elevated gray hydrogen production costs above those of green hydrogen, according to an October report. GERMANY-CANADA HYDROGEN PARTNERSHIPGermany and Canada signed a non-binding agreement in August to ship clean Canadian hydrogen to Germany by 2025. "We believe in green energy, but we don’t believe in destroying nature for a profit or supplying Germany," Rowe said.

The drop is not just because industrial companies are turning down thermostats, they are also shutting down plants that may never reopen. And while lower energy use helps Europe weather the crisis sparked by Russia's war in Ukraine and Moscow's supply cuts, executives, economists and industry groups warn its industrial base may end up severely weakened if high energy costs persist. Reuters GraphicsThe International Energy Agency estimates European industrial gas demand fell by 25% in the third quarter from a year earlier. "We are doing all we can to prevent a reduction in industrial activity," an European Commission spokesperson said in an email. "From Jan. 1, we will be able to switch to oil," company executive Wolfgang Ott said, as the company seeks government help to cushion energy costs.

☆ Italy's antitrust body tells utilities to stop changing contracts
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 28 (Reuters) - Italy's antitrust authority has ordered Spanish utility Iberdrola (IBE.MC) and Germany's E.ON (EONGn.DE) to reinstate the original electricity and gas contracts they had with customers, it said on Friday. The watchdog also asked Italian utilities Iren (IREE.MI) and Dolomiti to stop what it alleged to be "illegitimate notices" regarding changes to the economic conditions of their offers. The authority, which opened an inquiry into utilities last week, said that companies must report within five days on the steps they had taken to comply with the precautionary measures. The watchdog last week accused Iren and Dolomiti of making unlawful unilateral changes in the electricity supply price. A spokesperson for E.ON reiterated it was cooperating with the Italian authorities, adding it believed to have acted legitimately and in compliance with current regulations.

Register now for FREE unlimited access to Reuters.com RegisterEven before leaks were found, supplies via Nord Stream 1 had been halted as a result of a dispute over Western sanctions on Russia, while the newly-built Nord Stream 2 pipeline had not started commercial deliveries. An E.ON spokesperson said Nord Stream 1's operating company was responsible for operational issues, including insurance. "Nord Stream AG remains in close contact with relevant authorities about the recent incident. U.S. President Joe Biden has said damage to Nord Stream was a deliberate act of sabotage. If there was any Russian involvement it could also mean the Nord Stream 1 damage being designated as an act of war, something that is typically excluded by insurance policies.

☆ Uniper shuts down 50% of headquarters to save gas
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 24 (Reuters) - German utility Uniper is shutting half the office space in its headquarters and lowering temperatures in areas remaining open to save gas, it told Rheinische Post on Monday, as it struggles to stay afloat even after being nationalised. The company has switched off all devices and lamps in 50% of its office space in Duesseldorf, stopped cleaning and lowered the temperature to 14 degrees, the lowest it can be without damaging the building, the spokesperson told Rheinische Post. In offices where people are working, temperatures were being lowered to 20 degrees, the report said. The Rheinische Post report said E.ON (EON.UL) was also taking steps to reduce energy consumption in its buildings by at least 20% through measures like switching off lighting of logos and turning off hot water where possible. Register now for FREE unlimited access to Reuters.com RegisterReporting by Victoria Waldersee; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Italy's Antitrust probes Iren, Iberdrola, E.On over customer contracts
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 19 (Reuters) - Italy's competition watchdog has opened inquiries into Italian utility Iren (IREE.MI), Spain's Iberdrola (IBE.MC) and German's E.ON (EONGn.DE) over alleged electricity and gas contract issues with their customers, it said on Wednesday. The authority accused Iren and fellow Italian utility Dolomiti of allegedly making unlawful unilateral changes in the electricity supply price, it said in its statement. Iren said in response that its actions were in line with rules and it was committed to protecting its customers struggling with rising energy prices. There was no immediate comment from Iberdrola or E.ON. Register now for FREE unlimited access to Reuters.com RegisterReporting by Cristina Carlevaro, editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

☆ Explainer: How will Germany implement its nuclear power extension?
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +5 min

The operators of the three remaining nuclear power plants are E.ON (Isar 2), RWE (RWEG.DE) (Emsland) and EnBW (EBKG.DE) (Neckarwestheim 2). HOW LONG CAN THE PLANTS RUN WITH EXISTING FUEL RODS? According to industry group Nuclear Technology Germany (KernD), it usually takes around one year until fresh fuel rods are delivered. CAN GERMANY EXTEND NUCLEAR POWER BEYOND APRIL 2023? Politically, extending the lifespan of nuclear power is a red line for the Greens party, which has ruled out buying new fuel rods for longer operation of the country's remaining nuclear power plants.

☆ EU crisis opens opportunity for Australian green energy exports -Fortescue
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Oct 13 (Reuters) - The energy crisis in Europe presents a huge opportunity for Australia to export more green energy, the chief financial officer at Fortescue Future Industries (FFI) said on Thursday. European nations are pushing to boost renewable energy resources amid an energy crisis to move away from Russian gas. read more"There is a huge opportunity for us to export green energy into Europe ... They are absolutely demanding it," said Guy Debelle, chief financial officer at Fortescue Future Industries, at the Citi Annual Investment Conference in Sydney. Fortescue signed a memorandum of understanding with Germany's largest energy group E.ON (EONGn.DE) earlier this year to explore shipping green hydrogen.

☆ Possible extension of Germany's nuclear power at risk -econ ministry
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

But disagreements within the German cabinet could jeopardize the possible lifespan extension for the Isar II power plant, a spokesperson for the Economy Ministry told Reuters. The plant operator needs clarity on the government's plans before starting the maintenance, the Economy Ministry spokesperson said. Monday's decision was delayed due to objections from the finance ministry, a source told Reuters. The ministry is run by the Free Democrats party, which has been demanding a longer lifespan extension for the reactors. "The finance ministry is of the opinion that the proposed continued operation of only two power plants alone is not sufficient," a finance ministry source said.

☆ German nuclear reactor leak poses no safety threat but complicates plans
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

A general view shows the nuclear power plant Isar 2 by the river Isar in Eschenbach near Landshut, Germany, August 17, 2022. REUTERS/Christian Mang/File PhotoBERLIN, Sept 19 (Reuters) - E.ON (EONGn.DE) has informed the German government of a leak at the Isar 2 nuclear power plant which has not compromised security but could complicate the government's winter energy plan, the environment ministry said on Monday. Isar 2, in the southern state of Bavaria, had been scheduled to go offline at the end of the year under Germany's plan to phase out nuclear power. A spokesperson for E.ON said it was confident that a framework allowing Isar 2 to add to Germany's power supply security beyond Dec. 31 could be agreed with the government. E.ON's spokesperson said it has informed authorities as required by German law.

☆ Energy companies say angry customers phone them on a daily basis to complain about soaring energy bills
▼ + stars: | 2022-09-16 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

Energy firms told Reuters that angry customers in Germany phone them every day about surging bills. It comes as Russia chokes gas supply to Germany, leading to more expensive energy bills. "Many underestimate the extent of the energy crisis and the associated price increases overall." The upset over soaring energy bills has also been apparent in German bakeries. A guild said that bakeries are severely impacted by the energy crisis because their ovens and fridges guzzle a lot of power.

☆ Factbox: Nord Stream's role in Russia's gas supply to Europe
▼ + stars: | 2022-07-18 | by ( ) www.reuters.com time to read: +3 min

The logo of Nord Stream AG is seen at an office building in the town of Vyborg, Leningrad Region, Russia August 22, 2022. Below are further details of the importance of the pipeline in carrying Russian gas to Europe. In Germany, the gas is received by the connecting pipelines OPAL (Baltic Sea Pipeline Link) and NEL (North European Gas Pipeline), which link into the European grid. OWNERSThe pipeline is majority-owned by Gazprom (GAZP.MM) and forms the main route through which Russian gas flows to Germany. OPERATORSThe Switzerland-based Nord Stream AG consortium is the operating company for transit, technical, legal and environmental matters, but does not own the asset or the gas in it.

O serie de participanți din diferite domenii, precum profesori, programatori, studenți, contabili, marketeri au fost parte a hackathonului online: „Inovație pentru munca la distanță”. Pentru a cunoaște și înțelege misiunea echipei, valorile și cultura corporativă. „Alături de tine” - o platformă online care va uni diaspora cu persoanele în etate rămase în Republica Moldova, prin comandarea și livrarea produselor și serviciilor de primă necesitate. Echipa „Smart Mama” - o platformă online pentru mame pentru a găsi lucru la distanță, care va asigura training și suport în angajare. Hackathonul „Catalyst” este organizat de Dreamups, partener general Orange Moldova și face parte din programul Tekwill Ambassadors 2021 realizată cu sprijinul Agenției Statelor Unite pentru Dezvoltare Internațională (USAID) și Suediei în cadrul Proiectului ”Tekwill” implementat de ATIC.

Persons: moldoveancă, Elena Oprea, Christoph Sollich, Mircea, Vitalie, Ana Madan, Dima, Dmitri Voloșin, Adrian Pleșca, Vadim Postică, Iulia Condrea, Mihai, Elena Donici, Adrian, Irina, Tudor Darie, Fagura Organizations: Business, Orange, Orange Moldova, Demo, Orange Systems, Agenției, Agenției Statelor Unite Locations: Chișinău, Germania, Victoria, Țările de Jos, România, Olesea, Republica Moldova, Agenției Statelor, Suediei

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