France’s EDF warns of lower production across the nuclear fleet

France’s EDF warns of lower production across the nuclear fleet

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

Russian Shelling Forces Ukraine’s Nuclear Power Plant to Run on Backup Generators

Russian Shelling Forces Ukraine’s Nuclear Power Plant to Run on Backup Generators

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

The Bank of England raises the main interest rate by 0.75 points

The Bank of England raises the main interest rate by 0.75 points

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

California’s ban on natural gas is forcing the largest gas utility to find a new strategy

California’s ban on natural gas is forcing the largest gas utility to find a new strategy

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

Biden calls for fines for oil and gas companies’ ‘windfall’ profits

Biden calls for fines for oil and gas companies’ ‘windfall’ profits

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

BP profits boosted by natural gas trade, to buy back more shares

BP profits boosted by natural gas trade, to buy back more shares

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

America’s refineries run on Premium

America’s refineries run on Premium

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

Ukraine races to restore electricity, water supply after Russian strikes

Ukraine races to restore electricity, water supply after Russian strikes

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 government’s climate financing pressures the private sector to live up to promises

The government’s climate financing pressures the private sector to live up to promises

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

Joe Manchin can stop a partisan energy takeover at FERC

Joe Manchin can stop a partisan energy takeover at FERC

The Federal Energy Regulatory Commission has come to the aid of the Biden administration to prevent the construction of critical energy infrastructure. President Biden is now poised to impose a Democratic supermajority on this historically bipartisan commission, with the likely consequence that Americans and our European allies will face catastrophic energy shortages this winter and … Read more