伯恩斯坦公用事业日报-7月10日

www.bernsteinresearch.com : Civaux reactor cracks not due to faulty welds says French union (Montel). Tests at France's 1.5GW Civaux 2 nuclear reactorruled out faulty welding or defective equipment as causes of cracks, EDF tests have found, said union official Bertrand Dalonneau. Thetestconfirmed onecrackresultedfromstresscorrosionandtheotherfromthermalfatigue,butno specificrootcausewasidentifiedhe added. Analyses found no anomalies in welding or material composition. The stress corrosion is believed to stem from the designof affected pipes and construction-related weld repairs, according to France's nuclear safety authority (ASNR). Meanwhile, engineershave replaced the cracked pipes and completed refueling with the reactor on track to restart on July 30.roadmap requiring 27GW of new nuclear capacity by 2050, with 10GW to start by 2026 and 13GW by 2030. The bill, passed 221-24,dropped a proposed moratorium on renewable energy funding, which had caused its earlier rejection. The roadmap targets 560Twhof low-carbon power by 2030, including 200TWh from renewables (up from 157TWh last year) and 44TWh of renewable gas (upfrom 12TWh last year). However, Energy Minister Marc Ferracci suggested renewable targets could be adjusted downwards if nuclearGERMANYMarkus Krebber's contract as CEO by another five years, until the end of June 2031. Dr Krebber has been with the RWE Group since2012. He joined the Executive Board in 2016, and has led the energy company as CE0 since 2021.Price cannibalisation hits German solar in Q2 (Platts). Price cannibalisation in the German solar market deflated values this spring,with the government having to pay out a record 5.2bn in state aid to balance the green energy EEG account in Q2 alone, system datashowed July 9. The June capture price for solar plunged 61% year on year to 18.43/MWh, the lowest since May 2020, EEG systemdata showed. German solar energy generated a record 29TWh of electricity in Q2, with output exceeding 52GW for the first time inJune. But that barely reduced the overall average wholesale power price. Cannibalisation depressed the so-called capture rate forsolar to under 33% in Q2, the lowest quarterly average on record, with the Q2 average falling below 23/MWh.ITALYItaly's new FERX solar, wind auction could get over 2oGW of bids (Platts). Italy has received expressions of interest for 17.6GWof new solar PV and 2.9GW of new onshore wind capacity for a first round of its new Fer X auction. Demand outstrips the maximumof 8GW of support on offer for solar as well as 2.5Gwfor wind. The scheme aims to assign incentives of up to 9.7bn with an overalltarget of 10GW for solar PV and 4GW of wind asslgned by year-end to come online by 2028. Some 1,500 projects expressed interestin this first round, the ministry said. The startirg price will be 76.4/MWh for solar PV, with a range between 62.1/MWh and 90.9/MWh, according to GSE documents.or wind, bidding starts at 81.1/MWh, with a range of 66.8/MWh and 90.9/MWh.NORDICS微信Orsted secures project financing for Greater Changhua 2 (Orsted). Orsted has reached financial close on a project financepackage with 25 banks and 5 Export Credit Agencies (ECAs) to raise approximately TWD 90bn (about DKK 20bn) for the 632MWoffshore wind farm Greater Changhua 2. This is part of the financing structure for the project, on which Orsted simultaneously isprogressing as planned with an equity divestment expected to be completed once the project is operational. Greater Changhua 2 isa 632MW offshore wind farm that is comprised of both Greater Changhua 2a, which is operational, and Greater Changhua 2b, whichis currently under construction and is expected to be commissioned towards the end of 2025.UKUK government confirms decision to stick with national pricing (Gov.uk). The UK Government announced the decision to reformthe existing national pricing system rather than split the country into different zones. The key parts of the reformed national packagebeingannouncedtoday include i)StrategicSpatial Energy Plan:tobe published byNESO next year,will optimizethe distributionofenergy projects across Great Britain until 2050. It aims to accelerate development, reduce grid connection delays, lower costs, andprovide clarity for investors on where and when to build.i) Transmission Charges: The government and Ofgem will review transmissioncharges to incentivise building generation where needed. Changes will focus on making charges more predictable, reducing investoruncertainty, and lowering costs. ii) Improving Power System Efficiency: Efforts include accelerating critical grid upgrades to avoidf4bn in constraint payments by 2030. NESO will consult on reforms to have better accessto smaller assets (e.g. battery storage) andEUROPEANUTILITIES&CLEAN ENERGYBERNSTEINSOCIETECENERALECROUP explore further options through the Constraints Collaboration Project.Hornsea 3 stake sale finalists exit process (Infralogic). Norges Bank Investment Management and Apollo Global Man