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The British government has announced its intention to acquire a 20% stake in the €23.8 billion nuclear power plant in Sizewell, Suffolk. The government will take on the stake alongside EDF Energy, which will also invest to acquire a 20% stake in the project. Ministers are hoping that infrastructure investors and other pension funds will take on the remaining 60% stake. A legislation to allow the cost and financing of building the planned Sizewell C nuclear plant to be added to customers' bills is going through parliament.
  • March 29, 2022
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Germany's Economy Minister Robert Habeck has indicated that Germany may seek to keep nuclear energy on the table as Europe seeks to cut its dependence on Russian energy. The nation’s last three nuclear reactors are scheduled for decommissioning this year under an exit strategy overseen by former Chancellor Angela Merkel.
  • March 29, 2022
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United States President Joe Biden is set to announce a major initiative for direct deliveries of LNG to Europe to help it replace Russian gas. However, the market for the fuel is tied in long-term contracts, so it is unclear how the government can get companies on board.
  • March 27, 2022
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European Union leaders struggled for hours during the 2-day summit which ended on Friday, to find a compromise on a deal aimed at curbing energy prices that have adversely affected households and businesses across the 27-nation bloc. Leaders, however, did agree on a proposal from the European Commission to move toward the joint purchase of natural gas and ensuring that the bloc’s storage facilities are nearly full to try to avoid another energy crisis tied to the EU’s dependency on Russian energy.
  • March 27, 2022
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The International Energy Agency said its members were ready to release more oil into the market “if needed” to tackle soaring prices in the wake of Russia's war in Ukraine. IEA member countries committed to releasing 61.7 million barrels of oil reserves as of March 4, exceeding the 60 million barrels of oil that they had pledged to release from emergency stocks to bring stability to energy markets.
  • March 25, 2022
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Crude prices slid 2% on Thursday after the European Union could not come to a consensus to boycott Russian oil. Prices were also affected by reports that exports from Kazakhstan's Caspian Pipeline Consortium (CPC) terminal could partially resume.
  • March 25, 2022
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Electric cars are now three to six times cheaper to drive in the US, says a report by the Zero Emission Transportation Association (ZETA). Electric vehicles were always known to be less costly to operate than their gas-powered counterparts but this difference in becoming increasingly stark with the recent rise in gas prices.
  • March 25, 2022
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British and Dutch wholesale gas prices jumped following Russia's decision to start selling gas to "unfriendly countries" in roubles, while the European Union proposed legislation on minimum gas storage levels.
  • March 24, 2022
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The UK government is preparing to step in and temporarily run Russian gas giant Gazprom's British retail supply arm, as companies cut ties with Russian businesses. The unit, operating as Gazprom Energy, supplies over a fifth of Britain's commercial gas volume and serves thousands of customers including the National Health Service.
  • March 24, 2022
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The biggest cyberattacks included major energy companies, such as Chevron, Cheniere Energy, and Kinder Morgan. 21 natural energy companies in the U.S. were targeted by supposed Russian hackers, a few weeks before the Ukraine attacks.
  • March 24, 2022
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