Electric Utilities
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*Germany boosting renewables, aims to exit nuclear. FRANKFURT, April 26- Germany's green energy drive is proving surprisingly good for dirty brown coal as utilities squeezed by rival renewables and low wholesale gas prices use more of it.
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Czech electricity for Monday fell to 29.75 euros per megawatt hour from the Friday delivery price of 30.14 euros in over-the-counter trade, representing a premium of about 50 cents to neighbouring Germany.
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IRSCHING, Germany, April 26- Germany's top utility E.ON said it reached a deal with regulators and grid operators to keep open its modern but unprofitable Irsching gas-fired power station in Bavaria, providing reserve power to stabilise the grid. Irsching 4 is fully owned by E.ON while Irsching 5 is also part-owned by local utilities Mainova, N-Ergie and HSE.
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April 26- For a full statement on the results of Asia's largest wind power generator, China Longyuan Power Group Corp Ltd, please click on:.
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SEOUL, April 26- Korea South-East Power Co Ltd has bought 1.3 million tonnes per year of coal via term tenders on April 23 while declining to buy a total of 280,000 tonnes of coal via spot tenders due to high prices, a source from the utility said. Although the source did not elaborate on price and supplier information, other details of the purchase are as follows:.
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MADRID, April 26- Spanish power grid operator Red Electrica posted on Friday a 6.8 percent rise in first-quarter net profit to 149.6 million euros, in line with the company's target for annual profit growth of up to 8 percent over the next five years.
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The government will sell a 25 percent stake in satellite operator Hispasat to infrastructure firm Abertis and Eutelsat, ABC reported. Spanish power grid operator Red Electrica posted a 6.8 percent rise in first-quarter net profit to 149.6 million euros, in line with the company's target for annual profit growth of up to 8 percent over the next five years.
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HOUSTON, April 25- Clean Line Energy Partners LLC has signed an agreement to acquire Power Network New Mexico, a proposed 200- mile, 345- kilovolt transmission line designed to transfer renewable power resources from New Mexico to Western U.S. states, Clean Line said on Thursday.
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*To provide project development services for North Anna unit 3. *Says to provide project development services for proposed 1,470- megawatt. nuclear unit at its North Anna power station.
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LONG BEACH, Calif., April 25- Economic turmoil in Spain, Portugal and other southern European countries has depressed their stock markets to the point where they look downright cheap.
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April 25- U.S. power company Dominion Resources Inc's CEO said on Thursday construction of several power plants in Virginia was on schedule and on budget and expected to enter service over the next few years to meet growing customer demand for electricity.
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MOSCOW, April 25- Russia's Economy Ministry has proposed slowing the pace of tariff growth for power grid companies and for industrial consumers of natural gas, as the government tries to curb inflation and boost economic growth, a ministry source said on Thursday.
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PARIS, April 25- French nuclear group Areva. said on Thursday it had signed an agreement with China to build a nuclear fuel recycling facility there and raised the possibility of building a new reactor type with the Chinese.
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Cement stocks were strong after positive announcements from Maple Leaf Cement and Fecto Cement. Hub Power Company Ltd and Oil and Gas Development Company Ltd also announced healthy results, said dealer Samar Iqbal at Topline Securities. Maple Leaf Cement rose 3.45 percent to 19.50 rupees and Hub Power Company Ltd was up 1.51 percent to 54.50 rupees.
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NEW DELHI, April 25- State-run Coal India, which produces around 80 percent of the country's coal, will import the fuel in 2013/ 14 for the first time, two senior company sources said on Thursday, after a pricing deal on its supply obligations with power producers.
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OSLO, April 25- Nordic spot power prices eased slightly as imports increased from Germany, which was partly offset by expected lower wind output, analysts at Point Carbon said on Thursday. Friday delivery came out at 40.18 euros per megawatt-hour on the Nordic power exchange, slightly less than 40.72 euros for Thursday.
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In over-the-counter trade, Czech day ahead fell 3.4 percent to 31 euros, representing about a 70 cent discount to neighbouring Germany. Further along the curve, the Czech Cal' 14 tracked carbon higher, gaining 15 cents to 38.80 euros on the Prague- based Power Exchange Central Europe.
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SARAJEVO, April 25- International Finance Corporation will decide in May whether to grant 104 million euros in loans to wind projects that will help Serbia and Croatia boost their energy mix and rely less on imports.
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April 25- For a full statement on the results of Datang International Power Generation Co Ltd, which operates coal-fired power plants that supply electricity to Beijing and industrial cities in northern China, please click on:.
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SARAJEVO, April 25- Britain- based trading and investment group Energy Financing Team received a permit on Thursday to build a 35 megawatt hydro-power plant on the Neretva river in southeastern Bosnia at a cost of 120 million Bosnian marka.