An independent investigation found that staff in the control room of the National Energy System Operator (Neso) used general Microsoft Office software, including Word and Excel, to produce key reports and manually track spare generating capacity and blackout risk. These calculations informed decisions on whether to issue market warnings, and critics said the setup was insecure and that decisions were not properly logged. Neso was urged to find a replacement, and shadow energy secretary Andrew Bowie called the arrangement embarrassing. A separate investigation by Eversheds Sutherland found no evidence that poor record-keeping deliberately hid blackout risks, but it warned that shift reports saved in Word could overwrite earlier versions and that management documents on a local drive were susceptible to retrospective alteration.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
electricityenergy securityUKsoftware
Open a keyword to see other news on the same topic.
Related tickers and likely impact
MSFT
• NeutralMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $4.0T |
| Close on 10/20/2026 | 531.87 |
| Change that session | -0.31% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- EU energy measures fall short of tackling high prices, warns Cypriot expert
Energy systems expert Andreas Poullikkas, former chairman of the Cyprus Energy Regulatory Authority (CERA), says EU leaders correctly identified high energy prices as a threat, but their proposed response, after the October 15-16 summit, remains inadequate. He argues Europe needs structural investment in grids, interconnections and energy storage, since temporary support may not change the underlying cost structure. Carbon allowances approached €88 per tonne in early October 2026 and stayed above €85 mid-month, feeding directly into electricity bills. He also notes the summit set no quantitative targets, funding or timetable for grid infrastructure, and that household protection under ETS2 needs to be more explicit and funded.
- Petronas wants to bring Vietnamese offshore wind power to Malaysia and Singapore
Malaysia's national oil company Petronas wants to help develop a project that would carry Vietnam's offshore wind power through Malaysia to Singapore under the VMS (Vietnam-Malaysia-Singapore) project. Petronas Vietnam representative Aimy Zairin Mohamed said the project aims to link Vietnam's clean power with regional markets and could become a pioneering model for the ASEAN Power Grid. Vietnam's wind resource could exceed 400 GW, and the planned route would send power by undersea cable to Malaysia, connect it to the local grid, then onward to Singapore. The four partners are Petronas (coordinator), Tenaga Nasional Berhad, PVS and Sembcorp Utilities of Singapore. Petronas, present in Vietnam for 35 years, will also work with PetroVietnam on domestic oil and gas, LNG imports and renewables, aiming to balance energy security, affordability and sustainability.
- Proposal to allow private investment in small modular nuclear power plants
The government has proposed allowing private firms and state-owned enterprises to invest in, build and operate small modular reactor (SMR) nuclear plants, which the current Electricity Law reserves for the state. Minister of Industry and Trade Lê Mạnh Hùng submitted the draft amendment to the National Assembly on Oct. 20, aiming to institutionalize new energy security policies and remove bottlenecks in planning, investment, and electricity pricing. The draft estimates SMR investment at $7,000–12,000 per kW, or $2.1–3.6 billion for a 300 MW plant built in 2–3 years, compared with $6–9 billion and roughly five years, sometimes over 10, for a standard plant. The National Assembly's science committee largely agreed but asked for clearer conditions and scope for non-state participation, while a deputy warned that long-term obligations on safety, radioactive waste and decommissioning must be defined from the investment approval stage. The draft will be debated on Nov. 3 and voted on Nov. 20.
- Electrification Changes What Energy Security Means
Energy security used to mean securing a constant flow of fuels that were burned and gone, but electrification shifts trade toward durable equipment such as solar panels, batteries and EVs that keep producing energy for years. The author argues this changes the nature of economic dependence, although supply chains remain international. Ukraine's grid synchronization with the Continental European power system after the 2022 invasion shows how interconnection can add resilience. Pakistan's distributed solar capacity was estimated at roughly 50 GW by the end of 2025. The State Bank of Pakistan estimates that reduced energy imports saved about $7.1 billion in foreign exchange over six years and could cut the 2026 energy-import bill by a further $5.2 to $7.8 billion. The IEA estimates the global EV fleet displaced about 1.7 million barrels of oil per day in 2025, with China accounting for roughly one million of them.
- Energy and Empathy : Transitioning From Oblivion to Responsibility
Author Vijay Jayaraj argues that access to affordable, reliable energy is a moral issue tied to loving one's neighbor, and he calls the unequal burden of energy costs on the poor 'energy apartheid.' He cites energy economist Lars Schernikau's view that the levelized cost of electricity, often used to promote wind and solar, ignores the backup, storage and transmission these sources require. The article notes that the World Health Organization links millions of premature deaths each year to household air pollution from cooking fuels. It also points to the U.S. EPA's repeal of most Biden-era greenhouse gas requirements for power plants, which the agency projects will save $310 billion.
- Prime Minister orders review of delayed and unfeasible power projects
Prime Minister Lê Minh Hưng chaired a meeting on October 12 on ensuring power supply through 2030 and adjusting the Power Development Plan VIII, ordering a review of delayed or unfeasible projects so they can be adjusted, supplemented or replaced to support double-digit growth. The Ministry of Industry and Trade, the Ministry of Finance and related agencies are to work with state groups, state-owned enterprises and localities to set schedules and clarify responsibilities, including investors and funding for each project. As of end-2025, total national power capacity reached about 87,600 MW, up about 6,400 MW from 2024, and the plan targets about 183,000-236,000 MW by 2030. Tens of thousands of kilometers of 500 kV and 220 kV transmission lines, along with many large substations, are also planned to improve transmission between regions.
Related markets
Latest news
- Bank Profits Surge
The 9-month 2026 results show many banks continued to grow profits, with some posting record quarterly earnings. VPBank's pre-tax profit reached nearly VND 30,000 billion, up nearly 47%, equal to its full-year 2025 result and about 72.4% of its 2026 plan; Q3 pre-tax profit topped VND 11,000 billion. Techcombank posted VND 28,900 billion (up 23.7%), while LPBank reported VND 10,421 billion (up nearly 9%). SSI forecasts pre-tax profit of its monitored banks to rise 19.5% in 2026 before slowing to 15.4% in 2027, pressured by narrowing net interest margins and rising credit risk provisions. It also expects system-wide credit growth of 16-17% in 2027 and 17.9% for the monitored banks.
- World's Largest Gold Fund Dumps Over 10 Tonnes of Gold as Prices Slide
SPDR Gold Trust, the world's largest gold fund, continued net selling of nearly 12 tonnes of gold in the 22/10 session, bringing total sales over 2 sessions to nearly 15 tonnes and cutting its holdings to about 1,046 tonnes. Spot gold fell more than 2.8% to around USD 4,025 per ounce at the close of 22/10, and briefly dipped below USD 4,000 per ounce in the morning session of 23/10. Tensions in the Middle East pushed crude oil prices higher, raising concerns about inflation and further Fed tightening, and gold has still not attracted sustained safe-haven demand even as US Treasury yields fell. US September CPI rose 0.6% month on month and 3.7% year on year, while PPI rose 1.3% and 6.3%. Markets price about an 84% chance the Fed holds rates steady at its 27-28/10 meeting and a 16% chance of a 25 basis-point increase; September PCE data due on 29/10 is the next key factor to watch.
- Gold Prices Continue to Fall
On the morning of 23/10, domestic gold prices kept falling, with SJC bar prices varying by seller and the premium over world gold widening. Công ty TNHH Vàng bạc đá quý Sài Gòn listed SJC bars at VND 139-142 million per tael (buy-sell), down VND 300,000; Phú Quý was at VND 138-141.8 million, down VND 500,000; and Mi Hồng at VND 140-141.5 million, down VND 800,000. Gold rings also fell by varying amounts, with DOJI at VND 138-142 million and Phú Quý at VND 138-141 million per tael. World gold dropped USD 129 to around USD 3,992 per ounce, equal to about VND 125.3 million per tael, leaving SJC bars about VND 16.7 million per tael above the world price. The State Bank's central rate was set at 25,627 VND/USD, down 5 dong, while Vietcombank quoted 25,660-26,040 VND/USD (buy-sell).
- Company Linked to Billionaire Pham Nhat Vuong Announces Major Good News
VEFAC (ticker VEF), a Vingroup subsidiary, posted Q3 net revenue of nearly VND 77 billion, up 67% year on year, but a gross loss of about VND 27 billion as cost of sales from its exhibition business exceeded revenue. Q3 profit rose mainly thanks to a gross gain of about VND 65 billion from transferring some schools in a project to a partner, while financial income reached over VND 388 billion, mostly from loan and investment income. For the first nine months of 2026, after-tax profit was nearly VND 865 billion, down about 94% from VND 15,418 billion in the same period of 2025, as the prior year included large gains from transferring part of the Vinhomes Global Gate project. As of 30/9/2026, total assets stood at over VND 31,905 billion, up 36% from the start of the year, while total liabilities exceeded VND 24,364 billion, with short-term customer advances rising from VND 411 billion to over VND 8,373 billion.
- Lotte and Phat Dat Officially Break Ground on VND 60,000 Billion Mega Project in Thu Thiem 'Golden Land'
A joint venture between Lotte Group (South Korea) and Phát Đạt (HoSE: PDR) officially broke ground on 23/10 on Lotte Eco Smart City Thu Thiem in the Thu Thiem New Urban Area, HCMC, with total investment of about VND 60,000 billion. The project covers nearly 7.5 ha and will combine Grade A offices, retail, services, accommodation and housing, adjoining the central plaza and central lake of Thu Thiem. Phát Đạt holds 35% of Lotte Properties HCMC, the project developer, and will develop the housing blocks along with two towers (2-1 and 2-3) with about 219,722 m2 of floor area, while Lotte handles block 2-5. Lotte Properties HCMC paid VND 17,569 billion in land-use fees on 31/7/2026, and Phát Đạt completed its VND 7,666 billion payment to take its 35% stake. MB is funding all of Phát Đạt's capital contribution, while VietinBank and BIDV also support the project.
- International Business : Global stocks nosedive as Meta dents AI optimism
Global stocks retreated as tech earnings failed to ease concerns about the AI outlook, with MSCI's All-World index set for its largest daily fall in two weeks, down 0.4 per cent. Meta beat third-quarter revenue expectations, but its plan to issue non-voting stock revived worries about its mounting capital commitments, and a New Mexico judge ordered it to pay a $25 billion penalty in a data privacy case. Brent crude rose nearly 3% to $112 a barrel, near a five-month high, after more Houthi attacks in Saudi Arabia raised supply risks. Investors moved into government bonds, pushing the US 10-year yield down to 5.05%, below France's for the first time in 13 years, while French yields have climbed above 5% amid concerns over social unrest and debt. The France-Germany 10-year spread reached 177.7 basis points, its widest since 2011, while gold fell 1.8% to $4,070 an ounce.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.