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Con Edison of New York urges its customers to conserve electricity during heatwave
Con Edison, a New York-based utility, has asked its customers to conserve electricity during the current heatwave. It has also reduced voltage by 8 percent in certain parts of east Brooklyn to protect equipment while crews make repairs. AccuWeather meteorologists predicted that temperatures in New York City - the largest city in America - could reach 98.6° Fahrenheit on Tuesday. The use of air conditioning by both homes and businesses is increasing as temperatures rise, putting extra strain on the grid. In some areas, the heatwave has pushed up power prices to their highest levels since January. New England's next-day electricity prices The spot power price at the PJM West hub rose by about 17% on Tuesday to $189 per megawatt-hour The price of the cheapest car in America remained above $200 for the second consecutive day. This compares to an average price of $81 per megawatt-hour in New England this year, and $47 for calendar 2024. In PJM this year alone, the average is $56 and in calendar 2020 it's $42.
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Cheniere board approves Corpus Christi LNG expansion project
Cheniere Energy announced on Tuesday that its board has approved the final investment decisions for the expansion project of Corpus Christi's liquefied gas project. Bechtel Energy, the largest U.S. exporter of LNG, said that it has been asked by CCL Midscale Trains 8 and 9 to begin construction. Cheniere plans to double the current LNG production at Sabine Pass to 90 million tonnes per year by expanding export facilities in Corpus Christi and Sabine Pass. The company also said that it is working on expanding brownfield liquefaction capacities at the Corpus Christi terminal and Sabine Pass Terminal. The company plans to implement the plan in phases, beginning with the initial single-train extensions at each site. If completed, the platform's capacity would reach up to 75 mtpa by the early 2020s. The United States is currently the largest LNG exporter in the world. Commercial activity in this sector has increased since President Donald Trump lifted the moratorium on new LNG permits shortly after assuming office in January. Cheniere announced in February that it would aggressively pursue regulatory permits for expanding capacity. Cheniere announced on Tuesday that it will be investing more than $25 billion in cash available through 2030 to support growth, share repurchases and balance sheet management, as well as dividends. The company also increased its forecast for the capacity of run-rate LNG to between 60 mtpa & 63 mtpa, up from 54 mtpa & 57 mtpa. Cheniere said that after the completion of CCL Midscale Trains 8 and 9, along with debottlenecking expected and CCL Stage 3 in this decade, the Corpus Christi terminal's total liquefaction capability is expected to exceed 30 mtpa. (Reporting and editing by Tasim Zahid and Sriraj Kalluvila in Bengaluru)
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Maguire: US battery storage sector keeps accelerating its momentum
Battery-deployed electric volumes are breaking records almost every month, as the rapid growth of battery installation is affecting power systems in the United States. Battery storage is now more efficient than other energy sources during key times in certain electricity markets. Batteries also stabilize electricity networks, by controlling frequency and voltage levels and by preventing overload by storing excess solar energy output and then discharging it during peak consumption times. The following key trends will help you track the continued growth of battery systems in U.S. utilities networks. WIDENING REACH Battery systems have played a small role in the U.S. electric grids until recently. Utilities focused on increasing capacity through natural gas plants and solar and wind farms, among other sources. According to the energy data portal Cleanview, in 2020 there will be 30 times more solar and 74 times as much wind farm capacity than batteries within the U.S. power generation system. The dramatic drop in battery system costs - as much as 40 percent a year, according to industry consultants since 2022 - has helped spur the uptake of large solar farms across many U.S. states. Battery capacity is increasing and solar and wind power will be 5 times less in April 2025 than they are today. Batteries are primarily used by utility networks to store excess power generated from solar farms in the middle of the night, when power prices and system demand are at their lowest. They then discharge the batteries when prices and demand rise. The combination of solar and batteries allows utilities to avoid having to reduce output across their network at the height of the solar period, as well as capture higher power prices overall by preventing mid-day price drops. According to Cleanview, the U.S. had a utility battery capacity of just over 30,000 megawatts in April 2025. This total is over 28,000MW higher than what was available in 2020. Solar power grew by 84,200MW, while wind power grew by 37,000MW during the same period. Batteries are expected to be the main focus of future development for utilities. GROWING IMPACT There are 19 states that have 100 MW of battery storage or more. California has the largest battery storage system in the country, at around 13,000 MW, or 42%. California Independent System Operator, or CAISO, is the largest user of batteries among the major U.S. electric networks. It uses them to maximize the impact and uptake of its solar system. According to the California Energy Commission, CAISO has a solar power capacity of 21,000 MW and a battery capacity of 12,400 MW. This large battery capacity allows CAISO use batteries to provide power during periods of high demand, especially during early evenings when solar output drops and household electricity demands increase. According to the electricity portal GridStatus.io, between 7 p.m. - 9 p.m. June 19, batteries were CAISO’s largest single source of electricity. They accounted for approximately 26% of all electricity supplied during that time period. CAISO's second largest energy source was natural gas, which accounted for 23% of its supply. Wind and hydro were the next two sources. Electric Reliability Council of Texas is the primary electricity market in Texas. It has been a recent adopter of batteries, adding more battery capacity to its system than any other state. GridStatus.io shows that Texas installed around 8,200MW of battery capacity in April. This helped to supply between 7% and 8% of ERCOT’s total power on the evening of 19th June. Arizona, Nevada, and New Mexico are also rapidly expanding their battery footprints. These states have a growing amount of utility-scale capacity that can be harnessed better when combined with battery systems. Battery systems are expected to be more widely adopted as battery prices continue to fall due in part to the competition between vendors and the commercialization of new products. According to a recent report from asset management firm Lazard, the levelized cost of electricity generated by utility-scale solar farms coupled with batteries ranges between $50 and $131 for each megawatt-hour (MWh), depending upon system size. This compares with $47 to $170 for new natural-gas peaking plants and $24 to $39 per MWh combined cycle gas plants. New coal-fired power plants can cost up to $114 a MWh. The cost of batteries will continue to decrease, and this should help solar power to penetrate areas that are less sunny. This should lead to a gradual expansion of battery systems in U.S. electric networks over the next few years. These are the opinions of a columnist who writes for. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and information. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Air India will resume flights between east US and Canada at the earliest possible opportunity
Air India announced on Tuesday that it will resume flights between the East Coast of the U.S.A. and Canada at the "earliest opportunity", after several Middle Eastern countries temporarily closed their airspace, forcing airlines to cancel certain routes. Air India's spokesperson stated in a press release that "as airspaces slowly reopen in some parts of the Middle East", the airline will gradually resume flights in the region beginning Tuesday. The majority of operations in and out of the Middle East will resume on Wednesday. The flights to and from Europe that were previously cancelled will be gradually reinstated starting Tuesday. After nations like Qatar, Bahrain and Kuwait closed their airspace in response to Iran's attacks on the Al Udeid U.S. base in Doha, airlines scrambled for cancellations and diversion of planes. Reporting by Abhijith Ganadavaram Editing Mark Potter
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Angola, Zambia push Lobito Corridor rail project as financing talks advance
Frank Tayali, Minister of Transport in Zambia, said that Zambia hopes to begin work on the Lobito Corridor Railway connecting its copperbelt to Angola’s Atlantic coast before the third quarter 2026. The project is moving forward amid ongoing financing negotiations. The corridor will connect Zambia's Chingola to Angola Benguela Railway Line at Luacano. It is expected to stretch over 530 km, and it will serve as an important export route for agricultural products and copper. Tayali, speaking on the sidelines the U.S. - Africa summit in Luanda expressed optimism regarding the multilateral project. He noted the interest of regional stakeholders, the United States and the European Union. Tayali said, "We've got a developer working with the Africa Finance Corporation to resolve the financial issues and things look very promising." "This is a monumental project, and we are confident in its ability to reduce global food insecurity as well as unlock Africa's arid lands for agriculture." Jose Massano, Angola’s Minister of state for Economic Coordination, said that the government is committed to facilitating investment like the Lobito Corridor via private sector negotiations. However he ruled out government funding directly for the project. The talks have been focused on clauses in concession contracts, such as potential guarantees requested by financiers. Massano explained that "we may need to adjust one or two clauses in order to improve the relationship between financiers and operators." Massano said that although these processes are lengthy, the commitment to see them through is strong. Massano confirmed that Angola has made progress on the planned World Bank funding of $500 million, and the requirements are expected to be met by the end the year. Massano spoke about Angola's fiscal outlook in the face of volatile oil prices. Massano noted at the Monday summit that oil prices over $70 per barrel, which aligned Angola's budget forecast for 2025, had provided temporary relief to implement economic and social programs. The oil price fell dramatically on Tuesday, causing Angola to be uncertain about its fiscal projections. Oil prices fell to a two-week minimum on Tuesday, after Israel accepted the proposal of U.S. president Donald Trump for a ceasefire between Iran and Israel. This eased concerns over disruptions to supply in the Middle East. Brent crude futures fell $2.48 or 3.5% to $69 per barrel at 0927 GMT. U.S. West Texas Intermediate Crude fell $2.37 or 3.5% to $66.14. Massano responded that Angola is open to dialogue, including with the International Monetary Fund to consolidate the public finances, if needed. (Reporting and writing by Miguel Gomes; editing by David Evans).
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ANI reports that the black box of the crashed Air India jet is still in India.
ANI, citing Ram Mohan Naidu, the civil aviation minister, reported that the black box from the Air India jet, which crashed and killed 271, is still in India. It is currently being examined by an aircraft accident investigation team. Naidu made his comments after a report in the media that the flight data recorder would be sent to the United States of America for analysis. According to a post by ANI on the social media platform X, Naidu stated that the black box of the crashed AI 171 plane is still in India. It is being examined and analyzed by the Aircraft Accident Investigation Bureau. The Indian government announced on Thursday that a decision would be taken on the location of the decoding after AAIB had made a "due evaluation" of all safety, security and technical considerations. (Reporting and editing by Andrew Heavens; Abhijith Ganapavaram)
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US Safety Board to examine Boeing's role in 737 MAX 9 Mid-Air Emergency
The U.S. National Transportation Safety Board is holding an hearing on Tuesday, to determine the likely cause of a cabin panel that blew out mid-flight of a Boeing 737 MAX 9 in January 2024. This caused a major crisis for the planemaker. Officials said that the board would be expected to criticize Boeing for its safety culture, and also for failing to install four bolts on a new Alaska Airlines MAX 9 aircraft. Jennifer Homendy, Chair of the NTSB, said that the incident could have been avoided because the aircraft manufacturer should have addressed the unauthorized production long ago. This accident shouldn't have happened. Homendy, during a two day investigative hearing in August last year, said that this should have been detected years earlier. "The safety culture is in need of a lot more work." The incident prompted the Justice Department's opening of a criminal probe and declared that Boeing did not comply with a deferred prosecution 2021 agreement. CEO Dave Calhoun also announced his resignation within a few month after the mid-air blowout. The incident severely damaged Boeing's image and resulted in the MAX 9 being grounded for two weeks. Federal Aviation Administration also imposed a monthly production cap of 38 MAX planes, which is still in effect. Boeing did not create any paperwork to document the removal or reinstallation of the 737 MAX 9 emergency exit door plug – a metal piece shaped like a small door – during production. The NTSB also stated that Boeing was unaware of which employees were involved. Boeing has not responded to an inquiry for comment made before the meeting. Michael Whitaker, the then-FAA administrator at the time, said that the agency had "too little involvement" in Boeing's oversight in June 2024. It has since increased the number of inspectors in Boeing and Spirit AeroSystems plants. Boeing agreed to plead guilty last July after two deadly 737 MAX crash in Ethiopia and Indonesia. Last month, it struck a deal to avoid a plea of guilty with the Justice Department. The Justice Department asked a court to approve a deal that would allow Boeing to avoid having to plead guilty or face oversight by an external monitor, but it will also require the company to pay $444.5 in additional funds to a fund for crash victims to be split equally between each crash victim. (Reporting and editing by Jamie Freed; David Shepardson)
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Russia faces gas surplus as European exports collapse, eyes data centres
Officials and managers of companies have stated that Russia, the country with the largest reserves of natural gas in world, is looking for ways to use its surplus gas to run data centres. This comes as European exports continue to fall. According to calculations, the conflict in Ukraine caused Gazprom to see its gas exports to Europe reach a peak between 175 and 180 billion cubic metres in 2018-2019. By 2024, however, it is estimated that this will drop to only 32 bcm. This level will drop by half again in this year, following the suspension of Russian gas transit through Ukraine. Alexei Chekunkov said that the northern regions of Russia are facing a natural gas glut, at the St. Petersburg International Economic Forum. Chekunkov said that a half billion cubic meters of gas per day used to flow through gas pipelines into the West. Now, this does not happen, and it is urgent to figure out what to do with the gas. Chekunkov said that investors are increasingly focused on the gas-chemical sector. Surplus gas can also be used as a source of power to power data centres using artificial intelligence technologies. Gazprom's production of gas in 2014 was 416.19 billion cubic meters, a record high compared to the 355.23 billion cubic meters produced the year before. In 2024, Gazprom could sell only 361.7 bcm domestically and abroad. Gas is also used by the company for its own purposes, such as power generation on its gas fields and pipelines. Interfax reported that BitRiver, Russia's largest operator of data centres, could consume up to 10 billion cubic meters (bcm) of associated petroleum gases annually for large-scale mining cryptocurrency. Pavel Sorokin (Russia's deputy minister of energy) told the forum the cost of natural gas is too high for data centres. He thinks that the gas can be used to produce coal, which is facing a number challenges including international sanctions due to the conflict in Ukraine. "We're in a tough spot with coal right now. He said: "Why should we use gas that is expensive to increase data capacity, when we could build power plants in a coal mine?"
Gulf markets surge after Israel-Iran truce
The major Gulf stock markets advanced early on Tuesday, with risk appetite increasing after U.S. president Donald Trump announced that Iran and Israel agreed to a truce.
Trump declared a ceasefire that could end the 12-day conflict which saw millions of people flee Tehran, and raised fears about further escalation.
Saudi Arabia's benchmark stock index rose by 2.1%. The biggest contributors to this increase were Al Rajhi Bank, which saw a 1.9% gain and Saudi National Bank, the largest lender in Saudi Arabia.
Flynas, a company recently listed on the stock exchange, soared by more than 7% and reached 79.80 Riyals.
Saudi Aramco, the oil giant, fell 1.7% while SABIC Agri-Nutrients Company, a fertilizers company, declined by 1.1%.
After Israel accepted Trump's offer, oil prices fell to their lowest level in two weeks, as fears of supply disruptions were eased in the Middle East - a region that produces a lot of oil.
Brent crude futures fell $3.82 or 5.3% to $67.66 per barrel at 0645 GMT.
Dubai's main stock index rose 3.1%, its largest intraday gain since mid-December. The gains were boosted by a 4.7% increase in blue-chip developer Emaar Properties.
Air Arabia, a budget airliner, is among the winners. Its share price jumped 7.2% in one day - its highest single-day gain in more than three years.
Benjamin Netanyahu, the Prime Minister of Israel, said that Israel had agreed to Trump’s proposal for a truce with Iran once it achieved its objective of eliminating Tehran's ballistic missile and nuclear threat.
Aldar Properties, a property developer in Abu Dhabi, grew by 8.3%, leading the index to gain 2.2%.
The benchmark index in Qatar rose more than 2%. Qatar Islamic Bank rose 2.2%.
Qatar has reopened its skies after a short suspension, the civil aviation authority announced early on Tuesday. This follows a missile strike by Iran against an American base in Qatar that was carried out on Monday, but which caused no injuries. (Reporting from Ateeq Sharif in Bengaluru, editing by Andrew Cawthorne.)
(source: Reuters)