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Asia power grid delay may incur billions in cost: Ember
Asia power grid delay may incur billions in cost: Ember
Singapore, 20 August (Argus) — Delays in the development of the Asean Power Grid (APG) could result in billions of dollars in economic losses for the region and alter energy transition pathways, according to a report by think-tank Ember. Members of the Association of Southeast Asian Nations (Asean) have announced their target to establish the Asean power grid by 2045 . Under an assumed completion date of 2035, each year that the project is delayed beyond this will add $2.6bn in economic losses, according to the report released today by Ember. A five-year delay for the APG would cost the region almost $14bn, as well as 55bn m³ of additional gas, and over 71mn t of CO2 emissions. Ember uses 2035 as the baseline year, based on Singapore's plan to import 6GW of power via interconnections by then, as well as regional ambitions such as a 2,000MW Malaysia-Singapore interconnection targeted to begin operating in 2030. Asean's power demand is set to continue rising because of industrial growth, data centres, electrification, and cooling demand. Electricity demand in southeast Asia is set to almost double to 2,000 TWh/yr in 2050 from 1,300 TWh/yr today, according to energy watchdog the International Energy Agency (IEA). Coal and gas generated over 73pc of the region's electricity demand in 2025, compared with 5pc from solar and wind, according to Ember. Asean's vulnerability because of its reliance on fossil fuel imports has become apparent especially because of the US-Iran war. Southeast Asia gets about a third of its oil and refined products from the Middle East, and the conflict has raised regional gas prices by as much as 60pc compared with pre-war levels, the report said. Some countries offer subsidies to help absorb some of these price shocks, but "for economies that depend on affordable power to support industry and attract investment, this exposure is a major risk to economic competitiveness," the report said. The region's energy import bill is projected to reach a record $160bn this year, and is set to increase further in the decades ahead, potentially rising to $400bn, or 5pc of its economy, by 2050 based on current policy settings, according to the IEA. A five-year delay in the establishment of the APG would also mean 7.2GW of solar power would not be developed in Asean in 2035. Singapore would have to install an additional 300MW of gas-fired capacity to meet demand in 2035 locking in fossil fuel infrastructure with economic lifetimes that can span 25 years, as well as take-or-pay contracts, and this could extend fuel imports. Countries with abundant renewables such as Indonesia, Laos, Cambodia and Myanmar could collectively lose $1.1bn in revenue for each year the APG is delayed because they would be unable to monetise renewable resources through power exports, according to the report. Recommendations The APG would link national power systems to enable the sharing of reserve capacity to offset local shortages, and enhance system security, reliability and market efficiency, including through reducing the need for conventional plants or battery storage, the report said. It would also enable renewable energy to be developed where resources are most cost-effective. For the APG to materialise, political discourse needs to shift away from just discussions to commitment that extends beyond electoral cycles, and this has to be supported by working-level co-ordination, the report said. The Lao PDR–Thailand–Malaysia–Singapore Power Integration Project (LTMS-PIP) demonstrates that such co-operation is possible. Secondly, cross-border projects need to be made bankable through harmonised and transparent tariff frameworks and regionally co-ordinated wheeling charges. Cost sharing should also be done fairly, whereby costs are allocated according to each party's perceived benefits. Regional financing mechanisms such as the Asean Power Grid Financing Initiative are also important in mobilising capital. Lastly, while bilateral projects are more pragmatic in the near term because they require less harmonisation of regulatory frameworks and implementation timelines, their governance and institutional frameworks from the outset should be built with a view to expand easily into multilateral power trade, Ember said. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
US' Alcoa, Australia's Equus ink 10-year gas sales deal
US' Alcoa, Australia's Equus ink 10-year gas sales deal
Sydney, 14 August (Argus) — Australian gas developer Equus Energy has signed a binding 10-year gas sales agreement (GSA) with global aluminium producer Alcoa to supply gas from the planned Equus project offshore Western Australia to Alcoa. Equus will provide 50 TJ/d of gas to Alcoa, equivalent to 182PJ over the term of the deal, the company said on 14 August. Alcoa will use the supplies to power its expanding portfolio of Western Australia-based (WA) alumina refineries. In return, Alcoa will provide advance payment of $30mn to complete a front-end engineering design (Feed) study for the Equus project in Western Australia's North West Shelf region. The funding will cover project costs until it reaches a final investment decision (FID), Equus said. It did not specify a timeline for the FID. Equus, which was known as Western Gas until December 2025, completed a pre-Feed study for the Equus project in May, confirming project design of 50 TJ/d of domestic gas, 2mn t/yr of LNG for export markets, and 12,000 b/d of condensate production over a 15-year project life. The project will address a peak day gas supply shortfall in Western Australia and will represent 5pc of the Western Australian domestic gas market upon completion, Equus said. Annual peak day gas demand in Western Australia is set to increase from 2026 by 36pc to 558 TJ/d in 2035 with the winter season recording the highest demand levels, according to the Australian Energy Market Operator's (Aemo) 2025 Western Australian Gas Statement of Opportunities . This is despite an expected decline in overall annual gas consumption over the same period due to increased large-scale wind and solar generation, Aemo said. The deal with Alcoa will fully satisfy Equus' commitments under Western Australia's domestic gas reservation policy, the company said. The reservation policy mandates that Western Australia-based gas producers retain at least 15pc of production for sale in the domestic market over a project's life. Alcoa operates the 30.5mn t/yr bauxite mine and the 4.2mn t/yr Pinjarra and 2.85mn t/yr Wagerup alumina refineries in Western Australia. Alcoa bought most of Australian mining company South32's aluminium supply chain stakes in June, including the 37mn t/yr Worsley bauxite mine and 4.4mn t/yr Worsley alumina refinery in Western Asutralia. Alcoa signed a three-year gas sales agreement with Australian independent Woodside Energy for 31.1PJ in June, which will begin in 2027. The company also secured a 10-year gas sales agreement with LNG operator Chevron in December 2024 for 130PJ, starting from 2028. This has built on Alcoa's existing 10-year gas sales agreements with Chevron, ExxonMobil and Australian independent Warrego Energy for a total of 198PJ of gas to its alumina refineries in Western Australia, starting in 2024. By Daniel Gage-Brown Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
New Jersey board proposes lower RPS target for 2029
New Jersey board proposes lower RPS target for 2029
Houston, 12 August (Argus) — New Jersey regulators proposed cuts to the state's renewable portfolio standard (RPS) in the 2029 reporting period, more than a year after they first signaled they were considering the adjustments. The New Jersey Board of Public Utilities (BPU) on Wednesday kicked off a process that could result in it lowering the Class I obligations for utilities during the 2029 energy year to 45pc, from the current 47pc. The compliance period spans June 2028-May 2029. The board will next publish a notice of proposal in the New Jersey Register , which will start a 60-day public comment period. In addition to modifying the 2029 RPS minimum, the proposal would officially codify previously approved changes to the 2026-28 targets. The BPU last year held the 2026 objective at 35pc of retail sales, rather than allowing it to rise to 38pc as scheduled, and earlier this year cut the 2027 and 2028 goals to 35pc and 40pc, respectively, from their original 41pc and 44pc mandates. Renewable energy certificates (RECs) traded sharply higher on the news, after uncertainty about the extent of the BPU's proposed changes weighed on prices during Tuesday's session. Futures transactions for the 2029 RECs occurred as high as $29.15/MWh on Wednesday morning, $1.45 higher than Argus assessed the vintage Tuesday. The BPU has previously sought feedback on larger adjustments to the RPS program, such as opening Class I eligibility to out-of-state solar projects, which would have much greater impacts on the supply and demand balance throughout the region. The ambiguity around the extent of the board's intentions had spooked some participants, driving credits lower. Thus, despite the BPU signaling it could adopt lower targets for the 2029 reporting period, market confidence rebounded upon learning the proposed changes would be relatively narrow. The BPU first floated changes to the 2027-2031 RPS targets in May 2025, when it froze the 2026 requirements. At the time, the board directed its staff to investigate the requirements for those years, part of a larger push to diminish costs borne by ratepayers after a series of record-high capacity auctions in the PJM region, a 13-state grid territory that includes New Jersey. Staff in March floated amendments to the 2027-29 periods, with the BPU ultimately adopting the reduced 2027-28 targets in May. But the agency postponed a decision on the 2029 modifications at the time, wanting to further consider the matter. The RPS peaks at 50pc in 2030. Getting literal about 'solar farms' The BPU on Wednesday also approved 16 projects that collectively represent 52MW of solar capacity for the state's "dual-use" pilot program, which is designed to support agrivoltaic projects in which active farmland coincides with solar generation. The projects, which individually range from less than 1MW to 5.5MW in size, will ultimately generate credits for New Jersey's SREC-II credits program. While SREC-II credits do not count toward the RPS in-state photovoltaic carve-out, they do count toward the broader Class I requirements. The board endorsed the pilot program's first solicitation last year, attempting to bolster the state's renewable energy fleet without ceding prime farmland in the process. The pilot will run for 36 months, with the board setting specific capacity targets for each program year for an overall allocation of 200MW. The awards granted to the first batch of projects land between $106.91-$228.58/MWh. By Patrick Zemanek Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Hungary to build a Danube 'peninsula' near Paks nuclear
Hungary to build a Danube 'peninsula' near Paks nuclear
London, 12 August (Argus) — The Hungarian government has decided to build a "peninsula" in the Danube river near the Paks nuclear power plant in the hope of raising critically low river levels, prime minister Peter Magyar said on Wednesday. The 24-hour operation will involve adding 150,000m³ of stone to the two riverbanks near the 2GW Paks nuclear plant. In a possible second phase, authorities would sink two barges to redirect flows. With no significant rainfall forecast in the Danube basin for weeks, the tenuous situation could "persist for months" in the absence of intervention, Magyar said. The proposed intervention could ensure water levels at Paks' cooling channel do not drop below minus 90cm, allowing Paks to operate at full capacity, the prime minister argued. Danube river levels at Paks were 108cm below the reference level, but are set to fall to 137cm by 18 August, near the record low of 140cm below the reference level on 4 August, when Paks avoided a complete shutdown by millimetres . Romania carried out a similar operation using barges to redirect flows on 7-8 August at a section of the Danube near its 1.4GW Cernavoda nuclear plant. Following the intervention, Danube river levels near Cernavoda were 8cm higher than initially forecast by 9 August. But two days later, operator Nuclearelectrica announced it would be likely to have to shut down the plant's second 700MW unit. A complete failure of Paks would cost the Hungarian state 50bn forint/month (€136mn/month), as well as weighing on the economy, Magyar said. By Jessamy Guest Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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