Industry concerned about auction system for solar power
London
THE latest mechanism designed to support solar power is proving wildly successful in squeezing down the cost of energy. It's also threatening to destabilise the renewable-energy industry.
From India to Mexico and the United Arab Emirates, authorities are moving away from making fixed subsidy payments for clean energy and towards a system of auctions. The new system forces companies to compete for contracts to sell electricity and has resulted in offers to supply photovoltaic power at record-low rates this year. Bigger markets including Germany and Japan will start the practice next year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Gold flat ahead of US payrolls data, set for second weekly drop
Oil settles near 7-week lows, focus shifts to economy
Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board
Shell maintains pace of buybacks as profit beats estimates
Gold prices drift higher as Fed stands pat on key interest rate
Oil falls to 7-week low on surprise US storage build, Middle East hopes