News about electricity

According to Reuters citing The Telegraph, Microsoft (MSFT) has withdrawn from an AI data center in Loughton, Essex that Nscale was building for it, though no reason was given. Grid officials reportedly told Nscale power would not be available until the 2030s, and Nscale says it remains committed to the site and is exploring other power sources. The site was planned to house about 23,000 Nvidia chips, roughly 11.5% of a program of about 200,000 chips. Meanwhile, Microsoft's cash capex in the June quarter reached $35.80 billion, more than double the year-earlier figure. The article argues the problem is grid timing rather than AI demand, and Microsoft reports results on October 28.

In a keynote speech at the Green Swan 2026 Conference in Manila, ECB Executive Board Member Frank Elderson argued that climate change and nature degradation will continue to shape economies. He noted that summer 2026 was the warmest ever recorded in Western Europe, with severe droughts, wildfires and very low river levels affecting transport, industry and energy production. Europe is warming more than twice as fast as the global average, and tens of thousands of excess deaths were linked to extreme heat during the summer months. He argued that climate and nature-related shocks add up and can leave lasting economic scars, such as reduced labour productivity, damaged infrastructure and output that stays below trend for years. These events have also already pushed up wholesale electricity prices and continue to influence food prices.

Mirae Asset Securities (MASVN) says PC1 has several business pillars and could recover more clearly from 2027, forecasting 2026 net revenue of VND 11,187 billion (down 14.5%) and after-tax profit of about VND 1,109 billion (down 18.2%). Key drivers include transmission grid investment of about US$18.1 billion over 2026–2030 and a backlog estimated at around VND 4,000 billion. In power generation, the 13 MW Thượng Hà hydropower plant is operating, while the 30 MW Bảo Lạc A is expected to start generating from November 2026. In the first half, PC1 posted net revenue of VND 4,206 billion (down 12.3%) but consolidated after-tax profit of nearly VND 478 billion (up 54.2%), helped by power generation, mining and a profit of about VND 120 billion from the divestment of CT2. Risks include the pace of capital disbursement for power projects, nickel price swings and senior personnel changes.

American Electric Power (AEP) plans to invest about US$4 billion in a 702 MW Bloom Energy fuel cell plant near Cheyenne, Wyoming, under a 20-year power purchase agreement to supply Google's local power demand. The analysis argues the deal strengthens AEP's investment case, which relies on commercial and data center demand to justify its US$78b capital plan. Analysts expect earnings to rise from US$3.1b today to US$4.7b by 2029, with a P/E of 21.7x on those forecasts compared with an industry P/E of 19.9x. Key risks include reliance on large-load customers that often carry lower margins, rising interest costs, and a dividend that free cash flow does not fully cover.

A Simply Wall St analysis asks whether American Electric Power (AEP) shares, after a strong multi-year run, still line up with the dividends the company returns to shareholders. The stock has returned 93.1% over the past 3 years, while planned spending on linear generators and a roughly US$4b fuel cell project for Google raises questions about how much capital will remain for dividends. Using a Dividend Discount Model with a trailing dividend of $4.11 per share, a 10.51% return on equity and a payout ratio of about 65%, the article implies dividend growth of roughly 3.66% and a value modestly below the current $127.14 share price. It also notes a pipeline of 69 GW of contracted load additions through 2030, a US$78b capital plan, recent price-target cuts by several banks and a major shareholder reducing its stake, and flags 2 warning signs (1 major).

American Electric Power (AEP) is committing about $4 billion to a 702-megawatt fuel cell project near Cheyenne, Wyoming, backed by a 20-year power purchase agreement with Google. The stock rose 2.29% over one day and 5.95% over 30 days, last closing at $127.14. The article cites several valuation markers: the most-followed narrative's fair value of about $113, a discounted cash flow estimate of about $114.95, and an average analyst target of $140.88. It also notes counterweights such as recent earnings softness, lower profit margins than last year, and reliance on external borrowing.

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.

The column examines several claims in the 2026 midterm campaign. It notes Sen. Tom Cotton's argument that inflation has fallen from a record 9.1% in June 2022 to 3.4% in August, but stresses that the rate was 3.0% in January 2025 when Trump returned to office and is now moving in the wrong direction, with September's rate rising to 3.7%. It argues that Republican claims about Iran's hostility toward America dating from 1979 overlook the 1953 coup that overthrew Prime Minister Mohammad Mosaddegh, which the U.S. government acknowledged in 2013. The author also quotes Rep. French Hill saying a data center energy bill that never became law would only have required states to “consider” making utilities cover data center energy costs. The author adds that emails to Little Rock city directors, several of whom share one email address, have gone largely unanswered.

Over the six months to October 15, NextEra Energy and Duke Energy returned -13.29% and -6.77%, respectively. Both utilities stand to benefit from rising electricity demand, including from data centers, but the article says NextEra has more growth avenues through renewables, battery storage and Florida Power & Light (FPL), where large-load demand expectations rose from 6 GW to 8 GW by 2032 and its renewable and storage backlog reached about 35.1 GW. Duke has secured 7.8 GW of electric service agreements with data center customers and reaffirmed annual EPS growth of 5% to 7% through 2030, with second-quarter adjusted EPS rising to $1.43 from $1.25. Both companies face heavy capital spending and risks from interest rates, project delays and regulatory decisions. NextEra trades at 17.31x trailing and 17.73x forward earnings, while Duke trades at 17.19x and 15.95x.

Xcel Energy, Minnesota's largest electric utility, proposes freezing its electricity rates for two years and postponing any rate increase requests until at least November 2028. In exchange, it wants regulators' permission to use federal tax credits from five planned battery storage projects sooner than expected. The company says the plan would still allow it to invest almost $4.5 billion in the state's electric system over the next two years. The proposal comes as customers complain about rising utility costs following a 5.8% increase over two years approved in June, which drew strong opposition. Attorney General Keith Ellison and consumer advocates asked regulators to reconsider, but the Public Utilities Commission declined and instead launched a statewide investigation into the affordability of electric and natural gas service.

Zelensky said Russia has carried out 76 targeted strikes on Ukraine's power grid and oil-and-gas infrastructure since Trump announced an “energy ceasefire” one week ago. Overnight strikes hit substations in Odesa, Khmelnytskyi, Vinnytsia and Zhytomyr, leaving tens of thousands of households without power, while two people were killed and 12 injured, including two children. Over the past week, Russia launched nearly 2,700 strike drones, 1,700 guided aerial bombs and 66 missiles, mostly ballistic, with energy as the main target. Zelensky argued that Moscow sees sanctions relief and US waivers as proof its war strategy is paying off, and called for more pressure on Russia so that peace has a chance.

Prime Minister Lê Minh Hưng said the government will amend the fuel business decree and restructure the electricity sector to cut intermediary layers and lower input costs for the economy. The draft fuel decree would reduce trader categories to four, and the number of wholesalers is expected to fall to 14-15 under stricter rules, such as owning at least 40 retail stores and storage capacity of at least 15,000 m3. The PM said nine-month inflation was held at 4.52%, but world fuel prices rose 65% to nearly 90%, and without tax adjustments domestic fuel prices could rise 60-80%. Vietnam's fuel prices are low compared with regional peers, and the budget faces a major revenue shortfall, though the government still implements these measures to share the burden with the economy and consumers. The EVN restructuring plan is being submitted to the government, and land and property prices may fall once the amended Land Law is passed.

Prime Minister Lê Minh Hưng said intermediary stages in healthcare, electricity and petroleum distribution will be cut so people do not pay high prices. Under a draft decree on petroleum trading, the number of key petroleum traders is expected to fall to 14-15, with requirements of at least 40 retail stores and storage capacity of at least 15,000 m3. In healthcare, the government will propose amending the Law on Medical Examination and Treatment and the Pharmaceutical Law to cut intermediaries in drug and medical equipment distribution. Inflation was held at 4.52% over nine months, but he said keeping it there will be hard without responsive management, as world fuel prices have risen between 65% and nearly 90%.

Prime Minister Lê Minh Hưng said the government will cut intermediary stages in fuel distribution, electricity and healthcare to lower input costs for the economy. The draft new fuel-business decree would reduce the main trader types to 4 and tighten conditions for wholesale traders, with their number expected to fall to 14-15. In healthcare, the government will amend the Law on Medical Examination and Treatment and the Pharmacy Law to remove intermediaries, as medical equipment and drugs have been marked up through overseas intermediary transactions. According to the government's report, inflation was held at 4.52% after 9 months, but world oil prices rising 65% to nearly 90% could push domestic fuel prices up 60-80% without tax adjustments.