Wood Mackenzie Power & Renewables

Read our Power & Renewables recap newsletter now! Download our expert's presentations from this year's World #Hydrogen Summit, read our US #solar market insight Q2 2024 report and dive into the current dynamics of volume and price within the GoO market 👇

Last week, Isha Chaudhary, our Head of Steel & Raw Materials Markets and Charvi Trivedi, Senior Research Analyst attended the MENA Green Steel Event held in Dubai, where Isha moderated a panel on upstream challenges in supply chain as steel decarbonises. This session sparked a vibrant conversation among participants about green metallics, including DRI and scrap. Check out our latest insights on green steel here: https://okt.to/cOoEs6

Here's your weekly Americas short-term #power insight💡: How will the return of Three Mile Island impact PJM ISO? On September 20th, Constellation, in partnership with Microsoft, announced their intention to bring Unit 1 of Three Mile Island {TMI} back from retirement in part to meet Microsoft's growing need AI data center demand. Additionally, Holtec has begun the process of bringing Palisades nuclear plant back online, with a targeted return in 2025. The return of these nuclear units comes at a time of increasing concerns surrounding the explosive demand growth of energy intensive industries. These large demand centers continue highlight challenges facing power markets today such as rising coal generation retirement, interconnection queue backlogs, and increasing renewable generation, which lead to recent record high-capacity prices in PJM. The interaction between these returning generators and data centers will be important to monitor. In the case of TMI, if the data center expansion was targeted to be co-located near the plant, this raises questions about the larger grid impact. Will this additional generation support the ISO during critical periods and alleviate long term capacity concerns or will the energy flow directly to these demand centers? How will these large loads be supported in the event of a generation outage? To find out more about Wood Mackenzie’s PJM analyst’s view, click here: https://okt.to/otOFyq

Transmission congestion is a huge issue for the US power grid, with some estimates putting the bill for the unavailability of lowest cost generation at more than US$20 billion annually. Whether you’re an asset owner or a #powertrader, how do you understand and adapt quickly to the impact of congestion on #powermarkets? Find out more: https://okt.to/7jzxqy

With Europe Power Solutions Discovery Germany, we forecast a mid-price of the OrderBook in a 5-minute timeslot at the end of local phase (minutes 35-30 before start of delivery) and at the end of XBID phase (minutes 65-60 before start of delivery). With our forecasting being updated every minute, you can be the first to react to #power market changes as they happen. Find out more: https://okt.to/6mAtpI

Here's your weekly Japan short-term #power insight 💡: Chubu power prices spike reached 100JPY/kWh on 23 September and 34.7JPY/kWh on 27 September. On September 23, a national holiday in Japan, both demand and generation levels were typical for a day off. Hydroelectric power saw a significant jump of 22%, whereas coal and gas generation fell by 18% and 1% respectively. Notably, JERA’s 4.1GW Hekinan coal plant cut its output by 2.5GW on this date. Additionally, the 2GW Chubu-Hokuriku transmission line was shut down from September 21 to 26. During the same timeframe, the Tokyo to Chubu line faced constraints from September 21 to 27, where capacity plummeted from 1.8GW to only 600MW, leading to market concerns over supply shortages in the Chubu region. This situation caused price surges in Chubu relative to other areas on September 23 and 27. Find out more here: https://okt.to/Lk7c1C

ONE WEEK TO GO: Join us in our London office, on Tuesday 8 October 2024, as our panel of senior experts share their thoughts on the key drivers, enabling technologies, and commercial instruments supporting continued decarbonization in European Power. The event will consist of short presentations on key topics including: 🔹 Electricity’s role in the wider energy transition 🔹 The defining characteristics and sensitivities of decarbonised power 🔹 Wind and solar realising the project pipeline 🔹 The grid-scale energy storage landscape and investment opportunity Find out more and sign up here: https://okt.to/Qb4ugt

Looking to simplify the complex energy value chain insights with a single view? We've got you covered with Wood Mackenzie Lens Metals & Mining, our intuitive data analytics platform is designed to deliver integrated cross-commodity insights to capture the most bankable opportunities and inform your growth strategy. Lens Metals & Mining is now available for key mined commodities such as Copper, Nickel, Lithium and Zinc. 📈 Want to know more? View all the features of Lens Metals & Mining and watch out for more insights coming up your way: https://okt.to/Lnjim5

We are excited to announce that Wood Mackenzie is the knowledge partner for the upcoming Renewable Energy India Expo 2024 and The Battery Show India 2024, scheduled for October 3-5 at the India Expo Centre. Our Vice President, Alex Whitworth, will share his insights on energy market dynamics and India’s role in the global context during the keynote session. Additionally, Sooraj Narayan, our Principal Analyst, will lead a panel discussing the scaling of C&I #Solar through VPPAs, featuring perspectives from various industry leaders in India. Prateek Biswas, our senior analyst will be presenting his views on Pathways to Electrify India’s Transport Sector while Building #Battery Supply Chain Resiliency. Don't miss this opportunity to connect with policymakers and business leaders worldwide as we dive into conversations on solar, wind, bioenergy, energy storage, and more! See the event agenda here: https://okt.to/nqXBR5

Fantastic to see Malcolm Forbes-Cable, Vice President, Upstream and Carbon Management Consulting, speak at KIOGE - Kazakhstan Oil & Gas Conference & Exhibition last week. Speaking at the event, Malcolm said: “We should not overlook the opportunities presented by the shocks of 2022, which have catalysed investment in oil export infrastructure. Looking ahead, the concept of Kazakhstan as a gas hub can enhance resilience and connectivity across the region.” Learn more about Malcolm's work at Wood Mac, catch up on his recent insights and analysis, or get in touch here: https://okt.to/mBqeJn