During the last week of May, settlement prices for Brent oil futures for the Front Month on the ICE market remained below $65 per barrel. The highest settlement price of the week was recorded on Tuesday, May 28, at $64.90 per barrel. Prices then declined, reaching the weekly minimum of $63.90 per barrel on Friday, […]
In the final week of May, average electricity prices declined in most major European markets compared to the previous week. However, prices rose in the Iberian Peninsula, France, and Italy. The MIBEL market in Portugal and Spain saw the largest percentage increases, with Portugal up by 163 percent and Spain by 207 percent. In France’s
During the week of May 26, electricity demand declined across most major European markets compared to the previous week. Germany recorded the largest decrease, with a drop of 4.9 percent, reversing the upward trend observed previously. France experienced the smallest decline, at 2.5 percent, marking the second consecutive week of reduced demand. Great Britain and
In the week of May 26, solar photovoltaic energy production increased in most major European markets compared to the previous week. Italy recorded the largest increase, with a 22 percent rise, while Portugal showed the smallest growth at 3.1 percent. France and Spain also saw increases of 4.8 percent and 14 percent, respectively. The Iberian
Romania’s top oil and gas company, OMV Petrom, has resumed fuel production at its Petrobrazi refinery near Ploiesti after a scheduled 20-day shutdown. The pause was used for inspections, infrastructure upgrades, and maintenance work worth around 20 million euros. A key part of the overhaul included installing a new catalyst in the diesel hydrotreater unit
Greece: Valorem launches first wind farm on former lignite site Read More »
French renewables developer Valorem has completed its first wind energy project in Greece—a 27 MW wind farm on Mount Askio near Kozani. The site, once associated with lignite-based power generation, now hosts six Vestas V150 turbines, each with a capacity of 4.5 MW. Named Anatoliko Askio – Magoula, the wind farm is expected to generate
Bulgaria sees sharp decline in energy production and consumption in March 2025 Read More »
According to the Bulgarian National Statistical Institute, electricity production in March 2025 dropped by 17.6% compared to February, reaching 3,472 GWh. Electricity consumption also fell by 18.3% to 2,943 GWh. Compared to March 2024, electricity production rose by 5%, while consumption declined by 1%. Natural gas consumption in March 2025 was 261 million cubic meters,
The Chinese company Zhongbo Group, owned by Everest Power Private Limited, is progressing with plans to build the wind farm Trebinje 1 in the Republic of Srpska. The City Assembly of Trebinje has approved the launch of a zoning plan, marking the first official step in the project’s development. Preliminary fieldwork and investigative studies have
The coal-fired thermal power plant Stanari, operated by the EFT Group, recorded a net profit of 19.7 million euros in 2024. The plant generated revenues of 116.4 million euros, down from 140 million euros in 2023. This decline in income significantly affected profitability, as net profit fell from 42 million euros the previous year. Despite
North Macedonia expands Bogdanci wind farm in €37.6 million renewable energy push Read More »
North Macedonia’s state-owned power company ESM has partnered with Danish wind technology firm Siemens Gamesa Renewable Energy to advance the next phase of the Bogdanci wind farm project. This expansion involves an investment of 37.6 million euros and will add four wind turbines, each with a capacity of 3.4 MW, increasing the wind farm’s total
