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Maguire: Australia's renewables boom will deliver a coveted price for power
Australia's wholesale power prices dropped to their lowest level in four years by 2025. This bucking of rising price trends elsewhere, and proving that a power system overhaul based on renewables could help reduce?consumer electricity costs. The increased battery storage capacity of solar farms and the reduction in operating costs should enable utilities to reduce their operating costs. These savings could be passed on to consumers and businesses this year. According to Ember, an energy think tank, Australia's electrical system has been undergoing one of the'most aggressive' overhauls in the last decade. The clean electricity production has more than doubled since 2019. This growth rate is far greater than the 39% increase in clean electricity worldwide over this period. Europe experienced a 12% increase in clean output while North America experienced a 16% increase. Since 2019, Australia's electricity generators have also reduced fossil fuel electricity supply by more than what is seen in Europe, North America and the rest of the world. This has earned Australia its position as a global leader in energy transition momentum. CLEAN SHARE RISING, PRICES FALLING The rapid expansion of Australia's clean power capacity led to a crucial power mix milestone in 2025 when, for the first-time ever, more electricity was supplied by?clean energy sources than fossil fuels. The pace of growth in clean energy since then is a testament to the extent of Australia’s utility sector's retooling. As utilities pass on the costs of?new generation and network upgrades,' such rapid overhauls have been accompanied with steep increases in electricity bills for consumers. Australians certainly have experienced their fair share of energy price inflation over the past few years. The average national electricity price jumped by more than 200% just in 2022, and has since risen to an average 60% higher than what it was in 2020 and 2021. The price dynamics of Australia's biggest wholesale electricity markets in the last year or two suggest that this trend is now shifting to the opposite. DOUBLE DIGIT DECLINES Data from LSEG (Australian Securities Exchange) and LSEG shows that wholesale electricity prices in New South Wales, Queensland and Victoria, as well as South Australia, declined by an average 11% from the totals of 2024. Queensland's prices fell the most, by 15%. New South Wales followed with a 13% decline. In 2025, the average price of energy in New South Wales (Australia's largest state) was just under $109 per megawatt-hour (MWh), compared to $125/MWh for 2024. The average price in Queensland was $95/MWh, the lowest annual figure since 2021. In Victoria, prices were around $75/MWh while in South Australia they were around $89/MWh. PROTRACTED Pass-Through The wholesale market changes can take a long time to reflect in consumer bills. Australians have not yet seen the benefits of wholesale electricity price declines that will occur in 2025. This?said that thanks to the record deployment of battery storage capacity in recent year, utilities are well-placed to meet increasing electricity demand by using battery systems and solar farm, which can help further reduce output from fossil fuel power plants. This should enable them to reduce their overall operating costs, and pass on any savings in electricity generation to consumers and businesses. Australians are grateful for any future reductions to their household bills, especially after an inflation rate of almost 4% by 2025. The future of Australian electricity prices will be closely monitored by utilities from Europe, North America, and other countries, who will assess whether the clean energy paths taken in Australia can be replicated elsewhere. These are the opinions of the columnist, an author for. You like this article? Check it out Open Interest Follow ROI on Twitter for the latest global financial news. Follow ROI on You can find us on LinkedIn. Listen to the song Morning Bid daily podcast Spotify Or the . Subscribe to the podcast and hear the top news from markets and finance seven days a weeks.
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Honda's third-quarter profits fall by over 60% due to EV restructuring
Honda Motors posted a 61% decline in its third-quarter profits on Tuesday. The company was hit by U.S. Tariffs and restructuring costs related to its electric vehicle business. They are the latest automaker to?record new EV losses, as the demand for this technology is cooling. Ford and Stellantis have both recently warned of massive writedowns in their EV operations. In markets like the United States, the demand for this technology has declined. Instead, buyers prefer lower-priced models and gasoline-electric hybrids, an area that Toyota dominated for many years. Honda, while never a 'powerhouse in EVs,' said that its automotive business suffered a loss for the nine-month period ending December, due to EV-related one-off costs, such as asset?writedowns and the impact of tariffs. At a recent earnings briefing, Executive Vice President Noriya Kahihara stated that "our current challenge is to create a lean operational structure which can adapt to changes in the environment." The second largest automaker in Japan reported an operating profit of 153.4 billion yen (987.07 millions) from October to December, a decline of 61.4% compared with the same period last year. This was below the 174.5 billion yen average forecast by nine analysts polled. The company reported that the EV market had turned sharply 'negative' as incentives faded, and demand slowed. This resulted in a 270 billion yen drop in operating profit over the nine-month period. The company said that U.S. Tariffs impacted the results by another 280 billion yen during this period. Honda's largest market is still the U.S., which accounted for over two-fifths (25%) of its sales worldwide in those nine months. After misreading the pace of adoption, other automakers have signaled that they will be pulling back on EVs. Stellantis announced last week that it would be taking 22.2 billion euro ($26.5 billion), in charges, as it scales back on its EV ambitions. This follows similar writedowns by Ford and General Motors. HONDA'S EV CHASSE EXTENDS BEYOND THE NORTH AMERICA Executives stated that the company also incurred EV related costs in China. China is the largest auto?market in the world and Honda's second biggest, despite its struggling sales in this rapidly electrifying marketplace for many years. Kaihara stated that Honda is behind local competitors in China, both in terms software and pricing. He added that the company must boost its competitiveness through a fundamental restructure of its strategy as it faces an?intensifying competition in the global market, which includes the rise of the new car manufacturers. Honda, on the other hand, said that its motorcycle business performed well, with India and Brazil leading global sales, which helped offset its weak auto operations. The company has maintained its operating profit estimate?for the fiscal year ending March 2026, at 550 billion Japanese yen. Honda CFO Eiji Fumura stated that the outlook for the year was still subject to downside risks due to remaining losses in Honda's U.S. EV businesses. He added that these risks were offset by favorable exchange rates and car sales that are still above what the company projected earlier in the year. ($1 = 155.4100 yen) ($1 = 0.8390 euros)
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Kenyan airport workers may strike next month
A union letter revealed that Kenyan 'aviation workers' could strike next week, disrupting the operations of?airports throughout the country. The union had given seven days notice to the Civil Aviation Authority. The Kenya Aviation Workers Union stated in a letter dated February '9 that it was giving formal notice to "all unionisable staff of Kenya Civil Aviation Authority (KCAA), shall go on strike at the end of'seven days. Nairobi's Jomo Kenyatta International Airport is one of the continent's most important air transport hubs. The number of workers participating in the strike was not immediately known. The union has a number of grievances, including the failure by the aviation authority to reach a collective bargaining?agreement and the temporary placement of employees in roles they claim are permanent. In a press release, the aviation authority stated that it was in contact with the union to try and resolve the issues raised by the union amicably. It added that there had been no disruption in operations.
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Kenyan airport workers may strike next month
A letter from their union indicated that Kenyan aviation workers may strike next week and disrupt operations at airports throughout the country. The Kenya Aviation Workers Union notified in a letter dated 'February 9th that it would be formally stating "that all unionisable Kenya Civil Aviation Authority employees (KCAA) will go on strike if the seven-day period expires". Nairobi's Jomo Kenyatta International Airport, one of Africa's main air transport hubs, is located in Nairobi. The number of workers who would participate in the strike was not immediately known. The aviation authority stated that it would issue a statement at a later date. The union is upset about the failure of the aviation authority to reach a collective bargaining deal and the temporary placement of employees in roles they believe are permanent. Humphrey Malalo, Vincent Mumo Nzilani and Kevin Liffey edited the article.
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Macron warns about renewed friction between US and EU, urges EU use "Greenland moment" to push reforms
Emmanuel Macron, the French president, warned that Europe must prepare for more episodes of U.S. hostility and should use the "Greenland Moment" to push through long-delayed reforms in order to increase the global power of the EU. In an interview given to several European newspapers by the French president, he said that the European Union shouldn't mistake a lull between tensions and Washington as a permanent shift, despite the pause in U.S. threat over Greenland. Macron called on EU leaders to take advantage of a summit this week in a castle in Belgium to inject new energy into economic reforms. This would boost the bloc's competitiveness, and increase its ability to compete with China and the United States. In comments published in newspapers on Tuesday, Macron said: "When there is a clear act of aggression, we shouldn't try to settle or bow down." "We have tried this strategy for many months. "It's not working," Macron claimed that the Trump administration is "openly anti European" and wants to "dismember" the EU. He said he expected further tensions between the Trump administration and Europe, especially over digital technology regulation. Macron warned that the U.S. would attack the EU in the coming months if the EU used its Digital Services Act as a way to regulate tech companies. "EUROPE NEEDS Protection, not protectionism" Macron said that Europe must be more resilient to the double threat of the United States and China. "We are experiencing minute-by-minute instabilities on the American front and the Chinese tsunami. "These two crises are a deep?shock - a rupture for Europeans," said he. Macron, whose term ends in spring 2027 and whose second term will end at the end of his current mandate, has renewed his call to the EU for more common borrowing so that the 27-nation bloc can invest "at scale" and take on the dollar's hegemony. The dollar is being viewed with increasing suspicion by the world markets. They are looking for alternatives. Macron added that Europe's democratic institutions are a great asset to investors, especially at a moment when the U.S. is "drifting from the rule of law". In 2020, the EU used a joint debt to help re-boot Europe's economy following the COVID-19 pandemic. However, France has faced strong resistance from Germany and the other frugal northern members states. The summit on Thursday will focus on?French plans for a Made in Europe strategy, which would establish minimum standards for European content in locally produced goods. This approach has divided EU countries and alarm automakers. Macron stated that "for me, the economic strategies to make Europe a powerful force lies in what I called protection, which isn't protectionism but rather European preferences." (Reporting and additional reporting by Michel Rose, Editing by Lincoln Feast Richard Lough Alex Richardson).
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TUI's bookings for future trips fall, but last-minute travel boosts the European travel giant.
TUI, Europe’s largest travel operator based on market share, reported an operating profit that was above expectations. Analysts warned about softer demand, but noted a trend toward last-minute bookings, and higher prices. While the company struggled to maintain its position in its core German markets, it has been able to improve its results by making its offering more international and focusing more on its more profitable businesses including hotels. The company's share price is still well below the levels of three years ago, but Chief Executive Sebastian Ebel has repeatedly stated that he hopes to see an improvement. At 0830 GMT, the stock price was down by?3.7%. The equity research firm Bernstein noted a "substantial drop in demand", but the company said that the results were expected. TUI cited a strong performance by holiday experiences, markets, and?airlines to report an?operating loss of 77.1 millions euros ($91.80) for the last three months of 2025. This is up from 51million euros a year ago and above the 66.7million euros predicted by analysts polled at LSEG. Ebel praised the "record-breaking" first quarter results. It added that this was despite the losses attributed to the impact of Hurricane?Melissa on the hotels in Jamaica. TUI stated that slightly lower winter and summer bookings in advance were not surprising. Ebel also pointed out that bad weather in Germany and Britain had resulted in a drop in retail visits at TUI. He told journalists on a conference call that tourists are booking their trips later, and that the demand is shifting?away to Asia and away from the United States. However, he was optimistic that the demand from Europeans who want to travel to the Caribbean would remain strong. TUI confirmed its December guidance, which stated that revenues will increase by 2 to 4%. The underlying operating profit is expected to rise by 7-10%. This means the company will not be able sustain growth after 2025.
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EIA: Venezuelan oil production could return to its pre-blockade levels by mid-2026
The U.S. Energy Information Administration reported on Tuesday that expanded U.S. licensing for Venezuela-related transactions is expected to restore the South American nation's oil production by mid-2026 to its level before the U.S. navy blockade in December. Venezuela's PDVSA state oil company was forced to?make deep cuts in production after Washington imposed the?strict naval blockade, to put pressure on Nicolas Maduro - the Venezuelan president captured by U.S. troops early January. The blockade prevented Venezuela from exporting oil. This led to an accumulation of millions of barrels in storage tanks and vessels on land. Venezuela produced between 1.1 and 1.2 million barrels of crude oil per day before the blockade. PDVSA has since reversed the majority of its output cuts, increasing total production to close to 1,000,000 bpd. The U.S. Government?lasts month authorized commodities traders Vitol, Trafigura, and oil major Chevron to export Venezuelan oil. This helped clear the storage accumulation. Washington also lifted some sanctions against Venezuela's oil sector last month to allow U.S. firms to sell its oil. (Reporting and editing by Rod Nickel in New York)
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Bertelsmann, a German logistics company, has acquired a majority stake in Indian firm
The head of Bertelsmann's investment division said that the German media and service group has acquired a majority stake in Lets Transport. It hopes to leverage its position in India as an?important market for growth. In an interview published Tuesday, Carsten Coesfeld, CEO of Bertelsmann Investments said: "We have now achieved 80%." Bertelsmann owns the publisher Penguin Random House, is active in education and services, and has a stake in Lets Transport. This ownership began in late 2018. The logistics company, founded in 2015, connects truckers with corporate clients across India. Coesfeld stated that the market for Lets Transportation is worth 14 billion dollars, and has a growth rate of 11% per year. However, 90% of this market is unorganised. Bertelsmann views India as a growth market in general. It is a highly attractive market. "We are convinced of its potential," he said. He refused to provide details about the investment. According to someone familiar with the matter, Bertelsmann invested a large amount of money, possibly in the double-digit millions. In a hypothetical sale scenario, Lets Transport would be worth a three-digit million dollar sum. This is Bertelsmann’s first strategic acquisition in India. Coesfeld stated that he would be willing to buy more assets across the supply chain for Lets Transport, which he described in a similar way to Uber. This includes warehouses.
China's LNG imports will recover to previous levels in 2026, but not 2024.
Analysts say that China's imports of liquefied gas will increase in 2026, as global supply increases and prices fall, while the use for power generation and transportation rises. However, any rise in imports is likely to be modest, due to persistent weakness in China's economy.
Analysts at five companies estimate that the world's biggest LNG?importer?will buy between 3% and 10% more super-chilled fuel in 2018 than last year, or approximately 70.5 to 75.5 millions metric tons.
Even the most optimistic projections are below levels in 2024 following a 10% drop in imports due to a milder winter and weak industrial demand. This was the only instance in the last decade where imports declined outside of the pandemic.
Analysts at Sublime China Information expect that the increasing use of LNG trucks will boost gas demand by 3.6 millions tons this year.
LNG is usually cheaper than gas imported from Russia or produced in the United States. The increase in demand will not be met by either source.
Rystad Energy, a consultancy, estimated that domestic?gas output will increase by 12 billion cubic metres (bcm), compared to a 25-bcm rise in demand.
Gas pipelines in Russia are nearing capacity.
S&P Global Energy (Kpler) and Rystad Energy (Rystad Energy) have forecast that at least 35 millions tons of LNG will be added to the global market this year.
S&P Global Energy predicts that Asian spot LNG prices will average $9.50 to $9.50 for every million British thermal unit, while ICIS expects the price to fall below $9/MMBtu by the second half 2026. Prices were above $12/MMBtu on average last year.
A WEAK ECONOMIC SYSTEM
Although a drop in prices is positive for the demand, it remains to be seen if they will fall enough to encourage 'big purchases' when faced with cheaper alternatives.
"Even if the price drops in 2026, LNG can't compete against domestic or imported pipeline gases, which have a cost advantage. So it remains a supplemental energy source," said Rystad analyst Xiong Wei.
Analysts said that the gas demand of the industrial sector - a major consumer - is also missing, because the property market has been in a state of crisis for five years and there's no sign of an end.
Analyst Yuanda Wang of consultancy ICIS said: "With industrial demand still relatively weak, it is debatable how much more demand a price reduction can stimulate."
(source: Reuters)