CHINA'S RENEWABLE ENERGY
REUTERS - China will launch the trading of green certificates for solar and wind power on July 1 in a bid to help reduce government subsidies to the renewables sector, the National Development and Reform Commission (NDRC) said.
In a pilot program, the NDRC said solar and wind producers would be issued tradeable certificates, proving that electricity has been generated through renewable energy sources.
Renewable energy users such as private and state businesses would be encouraged to buy the certificates, which would then entitle them to an unspecified payment. Each certificate would represent 1 megawatt hour of power, the NDRC said.
Solar and wind power producers who had sold their certificates would no longer receive a direct subsidy for electricity production, it said, without giving further details.
The NDRC said it would monitor the pilot program and could launch a mandatory green certificate scheme in 2018.
Renewable energy makes up about 11 percent of China's energy consumption, with producers granted heavy subsidies.
China said last month it would cut the guaranteed subsidized prices paid for electricity supplied to its national grid by newly built large-scale solar power plants and onshore wind turbines starting Jan. 1.
The NDRC said the change reflected the decreasing cost of renewable energy production and would reduce the burden of state investment in the sector.
|March, 19, 08:19:00|
|March, 19, 08:15:00|
|March, 19, 08:10:00|
|March, 19, 08:05:00|
|March, 19, 08:00:00|
|March, 18, 11:45:00|
PENNENERGY - The Trump administration accused Russia on Thursday of a concerted, ongoing operation to hack and spy on the U.S. energy grid and other critical infrastructure, and separately imposed sanctions on Russian officials for alleged high-tech interference in the 2016 American presidential election.
IAEA - IAEA Director General Yukiya Amano commended efforts by Pakistan to increase nuclear safety and security as the country works to triple its nuclear power capacity. Prime Minister Shahid Khaqan Abbasi commended the IAEA for the support provided to Pakistan in the use of peaceful nuclear applications. Pakistan “was ready to further strengthen its partnership with the IAEA and contribute towards the achievement of the Sustainable Development Goals worldwide,” the Prime Minister said.
PLATTS - "The increase in competition induced new practices in the market that resulted in imports returning to normal," Petrobras' Jorge Celestino said during a presentation of the company's 2017 financial results.
PLATTS - The objective of this program is to increase its domestic refinery utilization rates to 90% from current levels of 10-20%, Kragha said speaking to Platts in Cape Town on the sidelines of the African Refiner Association conference.