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Latest Market News

Australia’s Victoria to speed up renewable projects

  • Spanish Market: Electricity
  • 14/03/24

Australia's Victoria state government announced today that all new renewable power projects will be treated as significant economic development and gain access to an accelerated pathway, as it looks to speed up renewable capacity additions.

The changes will make new solar and wind power projects eligible for a streamlined planning pathway under Victoria's Development Facilitation Programme (DFP), with projects then able to bypass lengthy planning panel processes. Renewable projects currently stuck in approvals will also be able to access the accelerated pathway, the state government announced on 14 March.

Since 2015, one in five applications for renewable projects have ended up at the Victorian Civil and Administrative Tribunal (VCAT). The accelerated pathway removes third-party appeals at the VCAT, with decisions to be made within four months from the time a complete application is lodged for an eligible project, the government said. A dedicated facilitation team will oversee all renewable energy applications under the accelerated pathway.

Third-party objections will still have a place in the approvals process, the government said, but the changes "prevent time-consuming and repeated delays that hold these projects back for years."

Australian renewable energy association the Clean Energy Council said that uncertainty on planning process timeframes and outcomes has been a leading cause of delay to renewable projects in Victoria.

"Our understanding is that renewable energy developers will still need to self-assess whether an environmental effects statement (EES) is required," it said. "Currently, projects that require an EES are ineligible for the DFP pathway, which would cover many wind projects."

No new wind farms were approved for development in Victoria during 2023, highlighting the need for a review of planning and assessment processes, the CEC noted.

Coal-fired power dependent Victoria has a legislated target to source 50pc of its electricity generation from renewable energy by 2030, with an intention to raise the goal to 65pc by 2030 and 95pc by 2035. The share of renewables in the local power mix reached 37.8pc in 2023, up from 35.1pc in 2022, 31.6pc in 2021 and 25.6pc in 2020, according to data from the National Electricity Market's OpenNem website.

By Juan Weik

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12/12/25

Japan’s energy demand falls on economic slowdown

Japan’s energy demand falls on economic slowdown

Osaka, 12 December (Argus) — Japan's energy consumption in the April 2024-March 2025 fiscal year fell again from a year earlier, pressured by slower industry activity. The country's 2024-25 final energy use totalled 292mn kiloliters, or 1.84bn bl of oil equivalent (boe), down by 1.7pc from a year earlier, according to preliminary data released on 12 December by the trade and industry ministry Meti. This marks the third consecutive annual decline. Coal use in final energy consumption fell by 3.7pc from a year earlier to 172mn boe in 2024-25, while oil demand declined by 3.7pc to 841mn boe. This came as energy consumption in the manufacturing and transportation sectors declined by 3.2pc to 766mn boe, and by 1.5pc to 445mn boe respectively. But demand for natural gas and city gas rose by 1.5pc from a year earlier to 167mn boe. Power demand also edged up by 1pc to 517mn boe. Coal-fired power generation edged up by 0.9pc to 283.4TWh during the period, while oil- and gas-fired power dropped by 2.7pc to 71TWh and by 2.4pc to 315.7TWh. Zero-emission power supplies, including renewables and nuclear power, rose by 3.9pc to 322.1TWh. Japan's energy-derived CO2 emissions fell by 1.4pc from a year earlier to 908mn t in 2024-25, supported by the increased use of renewable and nuclear power supplies. The 2024-25 emissions represented a 26pc fall compared with the country's 2013-14 baseline, or the lowest level since 1990-91. The lower energy consumption, as well as increased use of domestic renewable and nuclear energy, helped lift Japan's energy self-sufficiency rate to 16.4pc in 2024-25, up by 1.1 percentage points from a year earlier, based on International Energy Agency methodology. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

S Korea sets up task forces for renewable bottlenecks

11/12/25
11/12/25

S Korea sets up task forces for renewable bottlenecks

London, 11 December (Argus) — South Korea has launched a climate and energy task force across eight regional environment agencies, as well as a climate and energy field response team, its climate and energy ministry Mcee announced today. The move aligns with its government's coal phase-out target, aiming to ease bottlenecks in its renewable energy transition while expanding renewable capacity across regions. The task force will carry out work on site, mediating local disputes and identifying region-specific projects, while the field response team will drive regulatory changes based on local feedback and support renewable project development through monthly review meetings. In addition, Mcee, South Jeolla province, Kepco and the Korea Energy Agency signed a memorandum of understanding (MoU) to accelerate the country's shift to renewables. The four organisations will work together to promote community participation, support timely grid development and run local dispute resolution platforms. "Renewable expansion can advance only with community participation. The regional environment agencies will work closely with local communities to help drive the country's climate and energy transition." Mcee minister Kim Sung-hwan said at the event. Meanwhile, South Korea is aiming to expand its offshore wind capacity from the current 350MW levels to 10.5GW by 2030 and 25GW by 2035, Kim announced yesterday. The South Korean government has pursued offshore wind development for several years, but many projects have been delayed because of limited infrastructure, permit issues and local opposition. Market participants are paying close attention to its newly-launched teams set up to address these issues on the ground. Separately, the government last week announced plans to increase installed onshore wind capacity from about the current level of around 2GW to 12GW by 2035. Coal supplied 28pc of the country's power generation in January-September, while wind — including both onshore and offshore capacity — contributed just 0.6pc over the same period, according to Argus data. By Dayu Park Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Zambia to develop 300MW of new coal-fired capacity

11/12/25
11/12/25

Zambia to develop 300MW of new coal-fired capacity

London, 11 December (Argus) — Tanzanian conglomerate Amsons Group and Zambian energy firm Exergy Africa have announced a $900mn partnership to develop 1.3GW of generation capacity in Zambia. This will comprise 300MW of coal-fired capacity and 1GW of solar capacity, with $300mn and $600mn to be allocated to the respective energy sources in a bid to boost Zambia's energy security. Half of the new solar capacity is expected to be added to the grid within 18 months, with the full 300MW of coal-fired capacity and remaining 500MW of solar capacity to be installed within two years, according to Zambian energy minister Makozo Chikote. Zambia has recently turned to coal-fired power to reduce its dependence on hydropower, which accounts for around 85pc of the country's total electricity generation, given recent dry spells have caused water levels in Lake Kariba to fall below those sufficient for power generation. Kariba Dam levels remained near a record low this year, resulting in continual load-shedding after a severe drought in 2024 drained Lake Kariba. The country's only operational coal-fired plant, the 300MW Maamba coal power station owned by Zambia's largest coal mining firm Maamba Collieries, is set to double its capacity to 600MW after the construction of a second coal-fired unit was approved last year. Zambia last year also approved the construction of another 300MW coal-fired unit as part of the Mulungwa Power Generation project — a joint venture between Zambian firm Africa Power Coal and China's Jiangsu Etern. Construction of a new 600MW coal-fired power plant is also under way in Sinazongwe, according to the Zambian government, after Chinese-owned Wonderful Group's $900mn proposal was approved this year. The first 150MW of coal-fired capacity is expected to be installed by the third quarter of next year, with a further 150MW of capacity to be added in each quarter through to the second quarter of 2027. By Bryan Wu Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

N Zealand's gas output falls for 8th quarter in Jul-Sep

11/12/25
11/12/25

N Zealand's gas output falls for 8th quarter in Jul-Sep

Sydney, 11 December (Argus) — New Zealand's July-September gas production fell on the year for the eighth consecutive quarter, diverging from industrial gas demand, while gasoline imports rose and crude production dropped, data from the country's business, innovation and employment ministry (MBIE) show. Net gas production fell by 16pc on the year to 25.5PJ (681mn m³) in July-September, down from 30.2PJ a year earlier, data from the MBIE's New Zealand Energy Quarterly show. The country's gas stocks also fell by 2.4PJ over the same period, indicating a drawdown of inventories. New Zealand's conservative government also launched a procurement process for an LNG import terminal in October. Industrial users consumed 10.3PJ of gas over the quarter, up by 14pc on the year, largely because of the restart of Canadian methanol producer Methanex's 1.72mn t/yr Motunui plant. Methanex idled its plant in August–October 2024 and May–early July 2025 to support gas-fired power generation. The site has operated normally since then. New Zealand's gas-fired electricity generation fell in July-September. Utilities burned 7PJ over the quarter, down from 9.2PJ a year earlier, because of strong renewable generation. The country's hydroelectric and geothermal generation rose by 23pc and 6.5pc on the year, respectively. New Zealand's gasoline imports rose by 7.4pc on the year in July-September (see table). New Zealand also restarted oil and gas exploration in September , and extended permits for the 5,600 b/d Maari oil field for a decade in August. By Avinash Govind New Zealand energy production and imports b/d Jul-Sep '25 Apr-Jun '25 Jul-Sep '24 q-o-q ± % y-o-y ± % Gasoline imports 49,972 50,531 46,516 -1.1 7.4 Diesel imports 65,093 67,306 61,411 -3.3 6 Jet fuel imports 28,406 28,923 28,884 -1.8 -1.7 Natural Gas Liquids (NGL) 15,056 13,954 15,687 7.9 -4 Gas production (PJ) 26 26 30 -0.9 -16 Source: New Zealand's Ministry of Business, Innnovation and Employement Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Coal profit margins hold lead on gas in US midcontinent

10/12/25
10/12/25

Coal profit margins hold lead on gas in US midcontinent

New York, 10 December (Argus) — Coal-fired generation has been holding a profit advantage over at least some natural gas units in the midcontinent for more than a week. Peak day-ahead spark spreads for both coal and natural gas in the central US and Midwest jumped last week as colder-than-normal weather arrived and power markets tightened. But different directions in coal and natural gas prices led to greater gains in coal profit margins. The peak day-ahead spark spread for 10,000 Btu/kWh coal units at the Indiana power hub — a reference point for central portions of the Midcontinent Independent System Operator (MISO) — jumped by $27.90/MWh on 1 December to $36.52/MWh, while the margin for 8,000 Btu/kWh natural gas units rose to $34.83/MWh that day from $8.23/MWh the previous trading day. Overall, the spread for 10,000 Btu/kWh coal units at the Indiana power hub surpassed the spread for 8,000 Btu/kWh natural gas units the past eight trading days. While coal's advantage over natural gas has narrowed this week, the eight-day stretch is the longest for coal over natural gas at the Indiana power hub since October 2021. Elsewhere, coal generation in the PJM Interconnection West hub was more profitable than 8,000 Btu/kWh natural gas units for the past seven days, which was the longest period since 3-23 January. Both coal and natural gas profit margins were supported by jumps in power prices as the colder weather pattern moved into the central US. The peak day-ahead power price at the Indiana power hub climbed by $28.04/MWh on 1 December to $70.43/MWh — the highest since 15 August — and averaged $59.55/MWh so far this month. The price at PJM West reached a more than four-month high of $132.85/MWh on 8 December and averaged $94.33/MWh 1-9 December. At the same time, natural gas prices surged last week while coal prices ranged from unchanged to only slightly higher, giving room for coal to take a profit advantage over at least some natural gas generation. The average for the day-ahead price for natural gas at the Chicago Citygates — a benchmark for gas in the Midwest — was $4.525/mmBtu over 1-9 December. By comparison, Powder River basin 8,800 Btu/lb coal was assessed as being delivered to St Louis, Missouri, at $2.363/mmBtu on 3 December and delivered to southwest Ohio at $2.685/mmBtu. Illinois basin and CSX rail-originated coal delivered to the Midwest also had lower prices than the Chicago Citygates average. Coal-fired generation in MISO — typically the largest grid for US coal power — was the dominant fuel source for the grid on 6-7 December and has held above year-earlier levels all of this month so far. Gas power in MISO was the primary generating source every other day so far this month but has lagged year-earlier levels. Temperatures across much of MISO's and PJM's footprints are expected to stay below normal through Sunday, according to weather forecasters. But electricity heating demand is expected to recede next week. Temperatures in the midcontinent and eastern US are projected to be closer to seasonal norms from 15-19 December, private forecaster Commodity Weather Group said today. Warmer-than-normal conditions were then forecast to move into the eastern half of the country from 20-24 December. By Elena Vasilyeva Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Argus North American Long-Term Electricity Forward Curves

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Argus North American Long-Term Electricity Forward Curves

Argus North American Long-Term Electricity Forward Curves

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