PUNTA GORDA, Fla.–Under the blistering sun in the Florida Everglades, Gov. Ron DeSantis declared: “Biden needs to take responsibility” for the energy crisis; it’s not too late “to admit he was wrong.” “He’s always trying to create a scapegoat,” an agitated DeSantis told reporters at a press conference on June 16. “He would have to…
Electricity Prices in Queensland Raise Questions
Queensland’s energy supply crisis has triggered calls for an inquiry into the state’s surging electricity prices. Wholesale prices leapt to a record $283 per megawatt-hour last month and are the highest in the nation. Spot prices have also surged to $15,100/MWh eight times in Queensland in the last 12 months. Generators were again selling electricity…
‘Impossible to Continue Operating’: Australia’s National Energy Market Suspended
June 15, 2022
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AustraliaAustralia energy marketAustralian Energy Market OperatorBusiness & Marketsenergy crisisWorld
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The Australian Energy Market Operator (AEMO) has suspended the entire national energy market from June 15 at 2:05 p.m. after it was deemed “impossible” to continue operating the spot market while ensuring a reliable energy supply. AEMO Chief Executive Daniel Westerman prefaced the announcement by revealing the market operator had been forced to direct 5,000…
Australian Government to Grant Regulators More Powers to Tackle Energy Crisis
Australian energy ministers at state and federal levels have agreed to strengthen the powers of energy regulators and allow the market operator to obtain and store gas supplies to curb the energy crisis. Federal Energy Minister Chris Bowen convened a meeting with his state and territory counterparts on June 8, in which they put forward…
Australian Energy Crisis: Government Needs to Talk to Gas Companies Not Itself, Nationals Leader Says
Nationals Leader David Littleproud said the Labor government currently needed to work with gas companies to address the emerging energy crisis but that it had torn down relationships with the energy sector over the years. Southeastern states are currently experiencing a gas supply shortage, with demand spiking as a cold front moves through and coal-fired…
‘We Are Entering the Electric Age’: Former Australian Chief Scientist on Global Push to Net-Zero
Former Australian Chief Scientist Alan Finkel said humanity was undertaking an age defining transformation of energy systems in its global push to net-zero. “So substantial that in the naming traditions of the stone age, the iron age, the bronze age, and the industrial age, it could be argued that we are entering the electric age,”…
Today’s Energy Crisis Worse Than Oil Shocks of 1970s, Could Last Longer: IEA Chief
Russia’s invasion of Ukraine has roiled energy markets, with long-term implications for global oil and gas supplies, and the head of the International Energy Agency (IEA) has cautioned that the current energy crisis is “much bigger” and could persist longer than the oil shocks of the 1970s. In the 1970s, there were two significant oil…
Shopper Footfall and Retail Sales Improve After UK Lifts COVID-19 Curbs
April 8, 2022
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Business & EconomyBusinesses in COVID-19CCP VirusCOVID-19economyenergy crisisinflationMarketsshoppingUKWorld
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Shopper footfall across the UK continued to improve in March as many consumers enjoyed their first full month free of COVID-19 restrictions, new figures show. All COVID-19 restrictions in England and Northern Ireland were scrapped in February. Restrictions in Scotland and Wales have also been scaled down significantly. In March, all UK shopping locations enjoyed…
UK Government Orders Scientific Review on Fracking as Energy Crisis Bites
April 5, 2022
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Business & Economyeconomic policieseconomyenergy crisisfrackingKwasi KwartengMarketsshale gasUKUkraineWorld
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The British government has ordered a review of the latest scientific evidence on fracking amid calls for lifting the ban on the practice to alleviate the energy crisis which has been exacerbated by the Russian invasion of Ukraine. The government on Tuesday commissioned the British Geological Survey to advise on the latest scientific evidence around…
India Rejects Adani Bids to Supply Imported Coal Over ‘High Prices’
India’s Andhra Pradesh state has canceled two bids from Adani Enterprises Ltd. for tenders to supply imported coal due to the high coal prices, despite the company being the sole bidder for one of the tenders, government officials said April 3. The officials, who spoke on the condition of anonymity, told Reuters that Adani offered…
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