伯恩斯坦公用事业日报-7月11日

www.bernsteinresearch.com DSO, part of EDF) has detected more than 100,000 tempered meters, for a cost of several hundred million euros per years accordingto Bertrand Boutteau, director of fraud prevention operations at Enedis. The bypass system is complex to set up, but once installed onthe meter, it can conceal about two-thirds of its energy consumption. To strengthen its controls, Enedis plans to double the numberof agents to detect fraud: from 250 agents today, to 500 by 2026.IBERIAEDPR releases 1H25 operating data (EDPR). EDPR achieved a +12% YoY increase in generation, reaching 21.2TWh in 1H25,driven by higher installed capacity. LTM, gross capacity additions totaled +3.4GW of which Europe & NA (83%) or solar (68%). Netadditions were partially offset by asset rotations, including 0.2GW in Poland (3Q24) and 83MW in Spain (2Q25). In 1H25, renewablecapacity additions reached +0.4GW (161MW wind, 257MW solar) of which NA (62%), Europe (23%), APAC (9%) and LatAm (6%).Over1H25,EDPRclosed83Mwof solarinSpainandsignedtwomoredeals intheUSandEurope,expectedtoclosein2H252026 o/w solar (0.9GW), onshore wind (0.7GW), storage (0.6GW), offshore wind (0.3GW). Generation increased +12%YoY of whichNA (60%) and Europe (27%) or wind (78%) and utility scale solar (20%). In NA, generation increased +18% YoY due to new additionswhile Europe declined -6% YoY due to below average wind resources.: Spain approved almost 2,350MW in Q2 through 137 renewable projects (El Economista). During Q2 2025, the differentadministrations have approved a total of 137 renewable energy projects with a cumulative capacity of 2,349.8MW. According toa report by the Renewable Energy Observator only 11 projects were granted by the Ministry for Ecological Transition, while theremaining majority by the autonomous communities. As a result the regional administrations approved 67.1% of the capacity while thecentral government approved 32.9%. Of this capacity, 77.5% corresponded to solar PV, 19.9% to wind farms and 2.6% to biomassplants. On the other hand, the administrations rejected 34 renewable energy projects that, together, totaled 1,349.1MW..The Government plans to launch the auction of the 'blackout insurance'at the end of the year (El Economista). The Ministryof Ecological Transition aims to expedite progress in processing capacity payments to ensure CcGTs remain operational, mitigatingin 2021, the regulation includes three annual auction types based on demand forecasts and power needs. The main auction allowsparticipation of existing facilities, renewables, storage, and demand projects, with service durations varying by technology (1yr forexistingfacilities,up to 15yrs for new investments,and 1-1Oyrs for new demands).Annual adjustment auctions will cover one-year services, while transitional auctions ensure syst@m firmness until main auction services begin. The new order will also create aeITALYCTerna signs 1.5bn loag/f6-GW zonal link under Adriatic Sea (Platts). Italian power grid operator Terna said July 10 it hasagreed three loans for amlope1.5bn to finance an undersea cable to link its Marche and Abruzzo regions. The total is higher thana previously announced budget of 1.3bn, back in 2023. The high-voltage direct current (HVDC) line will be 251 km long, with 210km underwater at depths of up to 100 meters. Prysmian was contracted to put the link in operation in 2029.UK. National Grid under renewed scrutiny over network maintenance spending (FT). Ofgem is carrying out special monitoring ofNational Grid as the company faces questions over whether it is doing enough to maintain and refurbish its transmission network.National Grid is undergoing quarterly reviews, which began last year, in relation to investment in its transmission network, whererefurbishment work has been set back by problems including supply chain delays. An earlier Ofgem report had noted "concerning"underspending by National Grid's transmission business, with maintenance work outstanding. Ofgem said that the reviews wereagreed by both parties during "engagement and monitoring" and were separate to its wider engagement with National Grid on otherparts of its business plan. Meanwhile National Grid denied there was a specific quarterly review into the health of its assets, but saidthere was "quarterly engagement with Ofgem on overall delivery against our [transmission] business plan, covering all aspects of ourwork", which it said it had itself proposed.EUROPEEUROPEANUTILITIES&CLEAN ENERGYBERNSTEIN SOCIETE GENERALE CROUP : EU must invest in grids to beat climate-based blackouts (Montel). European grid operators must spend 67bn annually between2030 and 2050 to "climate proof" their power grids against extreme weather-triggered blackouts, power lobby Eurelectric said onThursday. The massive investment needed reflected the scale of climate risks facing European power infrastructure, with recentextreme weather events demonstrating the potential for widespread supply outages, it added