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EnergyWatchWednesday7 June 2023
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Ørsted CFO Daniel Lerup denies any claim that the company's US offshore wind pipeline is unviable, but admits that a lot of challenges currently hold sway. | Foto: Ørsted

Ørsted squeezed in the US

Inflation and surging interest rates mount pressure on Ørsted’s planned offshore wind farms off the US East Coast, writes Børsen.
  • Ørsted acquires major uncontracted US seabed
  • Massachusetts ramps up offshore wind ambitions
Foto: Maxar Technologies

Dam blast poses no immediate threat to nuclear power plant

Ørsted becomes a 50/50 partner in a pipeline of offshore wind development projects off the Irish coast. | Foto: Ørsted

Ørsted signs partnership on Irish offshore wind projects

Fortum has signed yet another agreement as part of the company's two-years running nuclear power program. | Foto: Fortum

Fortum strikes deal with Korean nuclear operator

For subscribers

Foto: Anders Vester Thykier

Four utilities under scrutiny for potential market manipulation

For subscribers

Birgitte Ringstad Vartdal advarer om, at man skal kigge betingelserne for Norge første bundfaste havvindpark, hvis man vil have ordentlige bud. | Foto: Statkraftpr

Statkraft calls for improvement of Sørlige Nordsjø II conditions

For subscribers

  • Foto: Ingrid Riis /reel

    Baywa r.e. appoints new CFO

    Mihaela Seidl comes from a position as CFO and managing director at ESG Group.
  • Swedish Vattenfall flagged the matter to Finnish energy regulators. | Foto: Marcus Emil Christensen

    Vattenfall linked to market coercion in Finland

    The Swedish utility has flagged what they deem a procedural error to Finnish energy regulators.

    For subscribers

  • The German utility major's current development pipeline features 6.8GW of renewable energy projects. | Foto: Rwe

    RWE profits climb from EUR 2m to a stunning EUR 1.7bn in the first quarter

    The German utility major shows progress across the board in the first three months of the year, propelled by hydropower, biomass and gas.

    For subscribers

  • The German energy company is maintaining its expectations for the year | Foto: Pr/e.on

    Eon makes progress in first quarter

    The German energy company noted advances on several accounting items despite prevailing uncertainties in the energy market.

    For subscribers

  • Upon the Russian government's seizure of Fortum's Russian assets, the company has made an official notification of its objection to the act. | Foto: Fortum

    Fortum objects to "unlawful" Russian seizure

    The Finnish utility company believes the Russian state has violated both Fortnum’s rights and international law.

    For subscribers

  • Ørsted CFO Daniel Lerup has high hopes for the year after offshore wind assets improved in the first quarter. | Foto: Ørsted

    Ørsted dials down hedging on volatile year

    Improving offshore wind assets and a new hedging strategy is to make way for a 2023 with significant milestones for the Danish utility. 

    For subscribers

  • Foto: Joachim Ladefoged

    Head of Danske Commodities frustrated with overshadowing cases

    ”But I have to say that, when going through these recent cases, it would only be natural to consider if the low entry barriers needs to be raised,” says CEO Helle Østergaard Kristiansen.

    For subscribers

  • The Danish energy company expects to collect advantaging tax credits in the US in the future. | Foto: Ørsted

    Ørsted isn't worried about inflation, expects US tax reductions

    Finishing touches are currently being made to the second part of the Inflation Reduction Act which may trigger added tax reductions. Ørsted expects its piece of the pie.
  • Foto: Christian Lykking

    Head of Danske Commodities expects "more normalized earnings in 2023"

    Earnings are going to resemble 2021 levels more, says Danske Commodities CEO.

    For subscribers

  • Foto: Ørsted / Pr

    Ørsted enters 2023 on minor setback

    The Danish utility major is off to a solid start to the year, leaving the dreadful Q4 2022 result in the dust.

    For subscribers

  • Foto: Pr / Danske Commodities / Thomas Priskorn

    Danske Commodities bags net profits of EUR 1.47bn

    Danish energy trading powerhouse nearly triples revenue while both operating result and earnings soar.

    For subscribers

  • Danish OEM Vestas once again assumes first place as the world's largest wind turbine supplier. | Foto: vestas

    Vestas once again world's top turbine supplier

    Even though Goldwind managed to close the gap on Vestas in 2022, the Danish turbine maker still comprised most of the world’s new installed capacity.
  • Anna Borg, Vattenfall CEO. | Foto: Vattenfall

    Vattenfall clamps down on hedging, pushes hydro investments

    The Swedish utility has chosen to reduce price hedging on market volatility while ramping up investments in well-known technologies.

    For subscribers

  • Foto: Vattenfall

    Vattenfall shows continued growth

    The Swedish utility notes significant net profit climbs after breaking even in 2022.

    For subscribers

  • Foto: Fortum

    Kremlin acquires Fortum's Russian assets

    On Wednesday, the Finnish company reports that a Russian presidential decree enables authorities to issue temporary asset management on assets owned by foreigners. 

    For subscribers

  • European offshore wind roll-out reached a low point in 2022. | Foto: Ørsted

    Ørsted: 2022 a historical low for European offshore wind ventures

    Ørsted’s CEO of Europe Rasmus Errboe worries over lacking impetus in clean energy roll-out.
  • Ørsted has confirmed plans to invest USD 14m in Tradepoint Atlantic. | Foto: Ørsted

    Ørsted commits to major US investment

    The Danish utility ups the ante in state of Maryland’s future offshore wind venture.

    For subscribers

  • Statkraft plans to add up to 3GW anually from 2025. From 2030, that numbers is ramped up to 4GW. | Foto: Statkraft

    Statkraft aims to establish 40 new projects annually from 2025

    The Norwegian utility plans to make use of old and new expertise from partnerships in efforts to establish up to 3GW renewable energy capacity per year, starting in 2025.

    For subscribers

  • Foto: Statkraft

    Statkraft climbs marginally during first quarter

    The Norwegian utility successfully exits the start to the year where towering power prices contribute to the sound results.

    For subscribers

  • Finnish Fortum willing to take legal action in bidding Russia a final farewell. | Foto: Fortum

    Fortum notes progress and terminates Russian assets

    The Finnish utility eyes widespread progress in 2023 and rids itself of a major Russian deadweight. 

    For subscribers

Latest news

  • German shipowners: Availability of green fuel is key to realizing shipping's climate target – 6 Jun
  • Ørsted squeezed in the US – 6 Jun
  • DNV verifies Polytech's leading edge protection Elle – 6 Jun
  • EU terminates power market crisis measures – 6 Jun
  • NKT to sign cable contract for offshore wind in Poland – 6 Jun
  • Norwegian carrier calls on customers to pay for decarbonization – 6 Jun
  • Dam blast poses no immediate threat to nuclear power plant – 6 Jun
  • Oil edges lower as economic worry outweighs production cuts – 6 Jun
  • New report: Shipping will use up half of all available biofuel in 2050 – 5 Jun
  • Norway to allow new offshore projects outside regular tenders – 5 Jun
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