PARIS—EDF on EDF -0.04% warned of lower power output this year across its nuclear reactors in France, a setback to the country’s efforts to escape Europe’s energy crisis amid a period of unusually warm weather. EDF, the world’s largest owner of nuclear power plants, said its French fleet of reactors is expected to produce between … Read more
Ukraine said its Zaporizhzhia nuclear power plant has been disconnected from the power grid after Russian shelling damaged transmission lines and left the plant dependent on diesel generators, while Russian officials renewed their calls for civilians to evacuate the southern city of Kherson. Two remaining high-voltage transmission lines connecting the power plant to the Ukrainian … Read more
LONDON – The Bank of England raised its key interest rate by 0.75 percentage points on Thursday, the biggest increase since 1989, as it battles a surge in inflation from rising energy prices, even as the British economy slips into an expected recession. The central bank raised its benchmark lending rate for the eighth straight … Read more
As California expands its efforts to phase out the use of natural gas in homes, the nation’s largest gas utility is trying to reinvent itself for a future where far fewer customers use their core utility. Southern California Gas Co., a unit of Sempra, SRE -0.60% is investigating how to recycle your system – and … Read more
WASHINGTON — President Biden called on Congress to punish oil and gas companies if they don’t use their profits to help lower energy costs for consumers, increasing his criticism of the fossil fuel industry ahead of next week’s midterm elections. “Their profit is a storm of war,” said Mr. Biden on Monday at the White … Read more
LONDON— BP BP -0.24% PLC reported robust natural gas trading profits and said it would buy back another $2.5 billion in shares, the latest highlight of a year that has rained cash on oil giants as consumers and businesses struggle to pay energy bills. The London-based company did not give an exact figure for its … Read more
It’s a great time to be an American refiner. Marathon Petroleum corp. MPC 4.98% on Tuesday said its refining and marketing segment generated $4.6 billion in segment income from operations — nine times what it did a year earlier. Its shares rose 3.9% in early afternoon. Valero energy corp. VLO 3.57% , which reported last … Read more
Utility crews across Ukraine worked to restore water and electricity supplies after a barrage of Russian missiles a day earlier knocked out service to hundreds of thousands of people, while Russian authorities expanded the movement of civilians out of the southern Kherson region. Kyiv Mayor Vitali Klitschko said water supplies in the city had been … Read more
The Biden administration begins doling out billions of dollars to budding climate industries such as battery metals. It puts pressure on banks and investors to step up with additional funds to deliver on their climate pledges. That cash comes from last year’s bipartisan infrastructure bill. The federal government granted about 20 producers of raw materials … Read more
Kyiv was among the Ukrainian cities that were targeted on Monday. Photo: Bulent Kilic/Agence France-Presse/Getty Images Russian forces launched a barrage of strikes in Kyiv and across Ukraine on Monday that knocked out electricity and water supplies in parts of the country, as the Kremlin intensified its attacks on the country’s civilian infrastructure. Several loud … Read more