European Energy strengthens its presence in Italy

: Electricity
20/10/12

Danish developer European Energy considers Italy a key market for renewables, setting a project pipeline of more than 1.5GW.

The company strengthened its position in the country with a new office in Milan, considering Italy offers promising solar opportunities. "I am confident we will see many new Italian projects in the coming years," chief-executive Knud Erik Andersen said. European Energy is ready to invest about €800mn in the next five years, he said.

The firm has recently completed a 103MW solar plant and is working on a 20MW project in Apulia.

Italy set a target of 52GW and 19.3GW of solar and wind capacity respectively by 2030, according its energy and climate plan.

By Fabio Roccon

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26/06/08

South Korea’s fundamental fuel economics and policy

London, 8 June (Argus) — The dynamic between thermal coal and LNG in South Korea's energy mix is more relevant than ever in the wake of the Mideast Gulf war, with surging prices, supply disruptions and evolving government policy all dictating the shape of South Korea's electricity generation. Generation margin advantage Coal has maintained substantial cost advantages over gas-fired generation since the US/Israel-Iran war began. On 6 March, thermal coal generation costs in South Korea were estimated at 75.83 won/kWh, compared with W216.22/kWh for LNG. Argus' NAR 5,800 kcal/kg thermal coal assessment rose by $19/t to $115.63/t cfr South Korea on 6 March, while northeast Asia (ANEA) front-month spot LNG prices more than doubled over the same period to $23.665/mn Btu from $10.715/mn Btu . April: Full switching to coal In April, South Korea demonstrated substantial fuel switching away from gas to coal. South Korean coal burn averaged 15GW in April, up by 42pc from around 10.6GW in 2025. Gas generation was down by 6.2pc, equivalent to an LNG demand cut of approximately 110,000t. This marked the first full month without any Qatari LNG deliveries following the outbreak of the Middle East war. May-June: Persistent coal support, constrained gas burn Despite ongoing government efforts to preserve LNG stocks, coal's dominance continued. Gas-fired output fell to 15.9GW for the rolling four-week average over 27 April–24 May 2026, down by 4.4pc on the year, while coal-fired output rose by 16.5pc to about 15GW over the same period. However, at least six LNG cargoes were diverted to South Korea in May, signalling spot demand driven by summer temperatures. Structural constraints on fuel switching South Korea's ability to fuel-switch away from gas is constrained by persistent grid bottlenecks. New renewable, nuclear and coal-fired power plants in coastal areas lack sufficient grid capacity to transfer power to urban demand centres. This structural constraint has kept a higher floor for gas-fired output, particularly during off-peak hours. Coal's balancing role During the spring shoulder season (typically March–June), South Korea implements countermeasures forcing generators to run coal-fired units at minimum levels to maintain grid stability. Coal-fired plants require higher minimum stable output than gas-fired units, making them far less flexible when solar output spikes in the middle of the day. As a result, gas-fired plants have been relied on as the main balancing power source during peak renewable generation hours. Policy and energy transition The South Korean government previously pledged to phase out coal entirely by 2040 but shifted to a more flexible stance following Middle East energy disruptions. By 14 April, the government signalled the possibility of delaying its coal exit plan in response to the war in the Middle East, although it simultaneously reaffirmed its commitment to expand renewables to 100GW by 2030. Near-term outlook and summer 2026 demand South Korea is forecast to experience a hotter-than-normal summer in June–August, with its meteorological agency indicating over a 50pc chance of above-average temperatures. This could increase power demand and LNG requirements. But the country faces tighter structural supply dynamics. Nuclear availability is scheduled to fall to 19.4GW in June–August from 20.1GW a year earlier, assuming the Wolsong reactors under maintenance stay off line. Coal-fired capacity will gradually return from maintenance, with 4.7GW set to have returned by the end of May, but this will only partially offset the government's ability to switch away from gas. Gas tariff and electricity price pressures are likely to persist, encouraging continued reliance on coal where operationally feasible. S Korea 40% coal switching price S Korea 44, 40% DS, 58% SS Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

UK Rego auction sells 84pc on offer, reopening 8 Jun

26/06/05

UK Rego auction sells 84pc on offer, reopening 8 Jun

London, 5 June (Argus) — Around 84pc of UK renewable guarantees of origin (Regos) from compliance periods 24 (CP24) and 25 (CP25) traded on the E-power exchange over the past two days, with the auction set to continue next week. The auction opened on Thursday and continued on Friday, with 150GWh of CP24 Regos left unsold and expected to be offered on 8 June, when the sale reopens. Around 760GWh of CP24 Regos — which covers April 2025-March 2026 — have sold so far out of 910GWh on offer. Biomass comprised the majority of offered volumes at 334GWh, followed by offshore and onshore wind at 234GWh and 166GWh, respectively. Prices were between the auction reserve of £0.02/MWh and £0.10/MWh, with offshore wind realising the highest price. These were both above and below Argus ' assessments for CP24 non-biomass and biomass Regos of £0.05/MWh and £0.04/MWh, respectively, on 4 June. There was also a small lot of 5.6GWh from CP25 generation — spanning April 2026-March 2027 — on offer on Thursday, which cleared almost immediately. Onshore wind Regos accounted for the largest share at 2.7GWh, which cleared at the highest weighted-average price of £0.28/MWh, while 407MWh of solar Regos cleared at an average of £0.26/MWh. Biomass and biogases accounted for the rest and traded at the reserve price of £0.20/MWh. These were significantly below Argus ' assessments of £0.59/MWh and £0.39/MWh for non-biomass and biomass CP25 Regos, respectively, on 4 June. The share of certificates sold in E-power's auctions has steadily increased this year, rising from 21pc in February to about 60pc in April . This month's auction is the last one to offer CP24 Regos before the UK fuel mix disclosure deadline on 1 July. By Gian Remnant Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

EU finance ministers eye agreement on CBAM changes

26/06/04

EU finance ministers eye agreement on CBAM changes

Brussels, 4 June (Argus) — EU finance ministers are seeking agreement on their position for legal changes to the bloc's carbon border adjustment mechanism (CBAM), extending the scope to more downstream products and adding anti-circumvention measures. Final tweaks and clarifications specify the European Commission's power to suspend CBAM for problematic sectors. The text drawn up for finance ministers, who meet on 12 June, takes account of a majority that has spoken out against giving the commission broad empowerment to temporarily remove specific goods from CBAM under a new article 27a. Diplomats noted the risks of "jeopardising" the effectiveness of CBAM and the "imprecise" scope of the powers. To bridge differences, Cyprus, chairing discussions between diplomats, has built on a previous draft to specify the conditions that the commission could use to trigger CBAM suspension. This includes average non-CBAM-related import price increases of more than 50pc compared with average prices for the same CBAM goods over the previous 10 years. Price increases would need to be sustained over a period of at least six months. If finance ministers agree on the text on 12 June, EU states would be ready for negotiations over a final legal draft with the European Parliament after summer. Cypriot diplomats suggested article 27a remains in the European Council's draft position as a "good basis" for the talks. During a first discussion, members of parliament's environment committee broadly supported deleting the new article 27a. But some members have called for partial or full CBAM suspension . The committee is expected to vote on the issue on 6 July, followed by the whole parliament in early September. Discussions on CBAM's suspension have continued following the commission's adoption last month of a fertilizer action plan, including measures such as financial relief for farmers, and assessing stockpiling options for key fertilizers and inputs. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

UK government aims for GHG cuts of 87pc over 1990-2042

26/06/02

UK government aims for GHG cuts of 87pc over 1990-2042

London, 2 June (Argus) — The UK government has set out plans for the country's seventh carbon budget, proposing a "science-led" greenhouse gas (GHG) emission reduction goal of 87pc in 2038-42, from 1990 levels, in line with advice from the independent advisory Climate Change Committee (CCC). Carbon budgets, which are legally-binding in the UK, cap the total GHG emissions that the UK can emit over five-year periods. The government has proposed a limit of 535mn t/CO2 equivalent (CO2e) in the 2038-42 period, including the UK's share of international aviation and shipping emissions, in line with the CCC's recommendation . This is "consistent with the Paris Agreement" and its most ambitious target to curb the global rise in temperature to 1.5°C above pre-industrial levels, the government said today. "Moving at pace to clean energy and net zero emissions is the best choice to reduce the exposure of UK families and businesses to more fossil fuel shocks", the government said. The net cost for the UK to reach net zero GHG emissions by 2050 is lower than "a single fossil fuel price shock", the CCC said in March . The government will publish a delivery plan, explaining how the seventh carbon budget will be met, "as soon as is reasonably practical after parliament has approved the budget", climate minister Katie White said today. The government highlighted recent moves to ramp up renewable energy and nuclear energy, to cut energy costs and improve energy security. The proposed seventh carbon budget "sends an economy-wide signal to investors and businesses, providing long-term certainty which will encourage investment and growth", White said. "The only way to protect family and business finances is to drive for clean homegrown power that we control", energy minister Ed Miliband said. The seventh carbon budget must be approved by both the upper and lower houses of UK parliament and set in law by the end of June. The UK has met its first three carbon budgets, reducing GHGs by 50pc over 1990-2022, largely through decarbonising the power sector and shutting down coal-fired power generation. The UK has a legally-binding target to reach net zero GHG emissions by 2050. By Georgia Gratton Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Samsung signs Vietnam's first direct PPA via power grid

26/06/02

Samsung signs Vietnam's first direct PPA via power grid

Singapore, 2 June (Argus) — Vietnam-based Samsung Electronics Vietnam Thai Nguyen (SEVT), a subsidiary of South Korean conglomerate Samsung, has signed a private power purchase agreement with a solar farm, it said on 1 June. This will boost the country's nascent clean energy contracting mechanism. The agreement for 70 GWh/yr of power from a new, off-site 49MW-peak solar facility is the first deal to use the national grid under Vietnam's direct power purchase agreement (DPPA) scheme. Vietnam launched the DPPA programme in 2025 to allow companies to contract renewable power directly with private generators. But deals thus far have involved modest power capacities from facilities such as rooftop solar arrays, with power sent to nearby customers through private cables. The DPPA scheme allows contracting via the national grid — which enables larger deals — but participants face power wheeling charges that are still being revised. The deal by Samsung Electronics Vietnam Thai Nguyen will slash emissions by about 46,000t of CO2 equivalent/yr (tCO2e/yr), the electronics manufacturer said on 1 June. The duration of the contract was not disclosed. Other Samsung subsidiaries in Vietnam are also working on their own DPPA arrangements, it added. Wind and solar capacity in Vietnam grew rapidly in 2018-21 because the government agreed to buy renewable power at high rates. Total capacity rose from about 340MW to nearly 20.8GW over that period. But the high rates were later reduced and growth slowed, with total wind and solar capacity reaching about 25.5GW in 2025, data from the International Renewable Energy Agency show. Vietnam is aiming to achieve over 70pc renewables in its power mix by 2050. This is up from about 44pc in 2023, according to the International Energy Agency. Argus assessed 2026 vintage solar and wind I-RECs in Vietnam at $0.30/MWh last week, $0.02/MWh lower on the week. By Liang Lei Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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