During the third week of May, Brent crude oil futures for the Front Month on the ICE market consistently settled above $65 per barrel in most trading sessions. The highest settlement price of the week was recorded on Tuesday, May 13, at $66.63 per barrel—the highest level since April 26. However, prices began to decline […]
During the third week of May, average electricity prices in the main European markets showed varied trends compared to the previous week. The Spanish MIBEL market and the French EPEX SPOT market recorded the highest percentage increases, with prices rising by 47 percent and 140 percent, respectively. Prices also increased in the UK’s N2EX market
During the week of May 12, electricity demand declined in most major European markets compared to the previous week. Great Britain recorded the largest decrease, with demand falling by 3.7 percent. Germany and Italy followed, with decreases of 1.3 percent and 1.2 percent, respectively. Spain saw the smallest drop, at 0.8 percent. In contrast, Portugal,
Europe: Solar and wind energy output surges in mid-May, with new records set Read More »
During the week of May 12, solar photovoltaic energy production increased across the main European electricity markets. France and Italy recorded the largest growth, with increases of 19 percent and 18 percent, respectively. The Iberian Peninsula experienced its second consecutive week of growth, with solar energy production rising by 9.2 percent in Spain and 13
Slovenia: Petrol Group reports strong Q1 2025 results amid regulatory challenges Read More »
In the first quarter of 2025, Petrol Group posted sales revenues of 1.5 billion euros, marking a 4% increase compared to the same period last year. The group’s EBITDA rose by nearly a third to 67 million euros, while net profit more than doubled to 31 million euros. Petrol Group reported growth across all key
Serbia and Russia to resume gas contract talks as current agreement nears expiry Read More »
Dušan Bajatović, General Director of Srbijagas, announced that negotiations with Russia over a new gas supply agreement will resume next week. With the current arrangement set to expire on 31 May, discussions are focused primarily on determining the duration of the new contract. According to Bajatović, preliminary talks took place during President Aleksandar Vučić’s recent
The Serbian Ministry of Mining and Energy has issued a public call for expressions of interest in providing consultancy services for a major initiative aimed at developing the biomass market in the country. The project, valued at €31.9 million, seeks to modernize and expand district heating systems using renewable energy sources, particularly biomass, in selected
Romania: Photon Energy and Hyperion Renewables to build 34 MW solar power plant Read More »
Photon Energy and Hyperion Renewables have signed an agreement to construct a 34 MW solar power plant in Săliște, Romania. The project will be carried out under an engineering, procurement, and construction (EPC) contract, with plans to expand the plant’s capacity to 38 MW. Construction is set to begin in the third quarter of 2025,
Montenegro: EPCG receives environmental approval for Krupac solar power plant project Read More »
Montenegro’s state-owned power utility, EPCG, has received approval for the environmental impact assessment (EIA) study for the construction of the Krupac solar power plant. The facility will be located on three sites along the shores of Lake Krupac near Nikšić, covering a total area of approximately 118 hectares. The project, estimated at around 28.2 million
In 2024, unpaid electricity bills in Greece surged by nearly 40% compared to the previous year, reaching a total of 3.4 billion euros, according to the energy market regulator RAAEY. This marks a sharp increase from the 2.4 billion euros recorded in 2023, underscoring the growing difficulties faced by both households and businesses in meeting
