The Committee also welcomed the announcement by the Russian Federation that its voluntary adjustments in the second quarter of 2024 will be based on production instead of exports.

Russia, which prior to invading Ukraine had an insignificant role in India’s oil basket, has seen exports to India swell since the start of the war and consequent Western sanctions, becoming the country’s top supplier.

Projects selected for tax credits under the Qualifying Advanced Energy Project Tax Credit (48C), funded by President Biden’s Inflation Reduction Act, span across large, medium, and small businesses and state and local governments, all of which must meet prevailing wage and apprenticeship requirements to receive a 30% investment tax credit.

The U.S. Department of Energy (DOE) today announced up to $6 billion for 33 projects across more than 20 states to decarbonize energy-intensive industries, reduce industrial greenhouse gas emissions, support good-paying union jobs, revitalize industrial communities, and strengthen the nation’s manufacturing competitiveness.

The project aims to bring back online the Palisades Nuclear Plant, which ceased operations in May 2022, and upgrade it to produce baseload clean power until at least 2051, subject to U.S. Nuclear Regulatory Commission (NRC) licensing approvals.

Germany would significantly increase research funding for fusion with an additional EUR370 million (USD403 million) over the next five years.

Brent rose 20 cents, or 0.22%, to $89.12 per barrel, WTI climbed 17 cents, or about 0.2%, to $85.32 a barrel.

During the two days of the forum, the role of nuclear power in the energy, industrial, ecological, logistic, digital, health, scientific and educational fields were discussed in more than 30 parallel sessions.

The hydrogen market is now transitioning from a speculative investment area to a sector with tangible commercial applications and real-world implementations.

The opening of these research facilities and testing platforms by China to the world is expected to promote the development of nuclear technology worldwide.

Exacerbating instability in the electric sector has been the swing from fossil fuel generation — primarily coal and natural gas — to renewables. Those simply aren’t always available.

Brent rose 23 cents to $86.98 a barrel, WTI climbed 28 cents to $82.23.

US sanctions on Iran have not worked as intended, in part because comprehensive sanctions are so difficult to remove that they no longer motivate Iran to change its behavior

While hydrogen is at the core of Europe’s plans to eventually wean itself off fossil fuels, there are currently few buyers for the gas as it’s expensive to produce and requires infrastructure investments to make its use more viable.

Differing from VPPs, a Distributed Energy Resources Management System (DERMS) offers grid services that are closely tied to the specific location (grid connection) of each asset.