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TALKING ENERGY Volume 13
P a g e | 1
01 May 2015 Contents
Share Price Data ......................................................................... 2
Industry News .............................................................................. 4
Political Developments and National Trends ................................ 5
Green Vehicles ............................................................................ 7
Green Energy .............................................................................. 7
Companies and institutions mentioned in this
report.
AAA ............................................................................................. 7 Baker Hughes Inc ........................................................................ 4 BMW ............................................................................................ 7 BP ............................................................................................ 2, 5 British Gas ................................................................................... 5 E.On, ........................................................................................... 5 EDF ............................................................................................. 5 Exxon Mobil ............................................................................. 2, 4 Nissan .......................................................................................... 7 npower ......................................................................................... 5 Royal Dutch Shell .................................................................... 2, 5 Scottish Power ............................................................................. 5 SSE ............................................................................................. 5 Tesla Motors ........................................................................ 2, 4, 7 Tesla ........................................................................................ 2, 4 uSwitch ........................................................................................ 5 Volkswagen ................................................................................. 7
Talking energy is a periodic energy
news publication prepared by
Analysts at NRG Expert discussing
key energy topics and delivering
insights on major energy news
events.
Talking Energy compiles news
stories and events from around the
world and presents them to the
reader in a bite-sized form.
Copyright of the articles lies with the
author/publisher of the referenced
works and reproduction here is
assumed to be fair use. Analyst
insights and other NRG Expert
original content is copyright © NRG
Expert. : NRG Expert is not acting as
a financial advisor and the opinions
or views contained herein are not
intended to be, and do not
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TALKING ENERGY Volume 13
P a g e | 2
Share Price Data
Company Currency Price 30/04/15
Price 09/04/15
Percentage Difference
Vestas Wind Systems A/S DKK 303.1 316.1 -4.11%
Electricite de France SA EUR 22.73 23.14 -1.77%
Engie SA EUR 18.205 19.275 -5.55%
E.ON EUR 13.97 14.21 -1.69%
Alstom SA EUR 28.035 29.395 -4.63%
Enel S.p.A. EUR 4.236 4.39 -3.51%
BP plc GBX 470.1 463.7 1.38%
BG Group plc GBX 1182.5 1160 1.94%
Royal Dutch Shell Plc GBX 2059.5 2004 2.77%
National Grid plc GBX 879 905 -2.87%
Gazprom OAO RUB 153.5 148.1 3.65%
Exxon Mobil Corporation USD 87.37 84.65 3.21%
Chevron Corporation USD 111.06 106.95 3.84% PetroChina Company Limited (ADR) USD 128.92 131.17 -1.72%
ConocoPhillips USD 67.92 67 1.37%
First Solar, Inc. USD 59.67 61.18 -2.47%
BHP Billiton Limited (ADR) USD 51.29 45.84 11.89%
Nordic American Tanker Ltd USD 12.23 12.15 0.66% Sinopec Shanghai Petrochemical Co. (ADR) USD 60.43 54.3 11.29%
ABB Ltd (ADR) USD 21.77 21.57 0.93% Petroleo Brasileiro Petrobras SA (ADR) USD 9.5 7.54 25.99%
Energy Transfer Partners LP USD 57.78 55.93 3.31%
Acorn Energy Inc USD 0.38 0.456 -16.67%
Duke Energy Corp USD 77.57 77.01 0.73%
Tesla Motors Inc USD 226.05 210.09 7.60%
Enbridge Inc (USA) USD 52.33 49.99 4.68% TransCanada Corporation (USA) USD 46.42 43.86 5.84%
1
1 Past performance is not an indication of future results nor does the information contained in any part of this document constitute financial or investment advice.
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TALKING ENERGY Volume 13
P a g e | 4
Industry News
Exxon Mobil, which saw its first-quarter revenues slashed by 36 percent
compared to the previous year, is up 3 percent this month. Despite the lower
numbers, the nation's fourth-largest company managed to beat Wall Street's
expectations when it reported on Thursday.2
On Thursday, the glitzy electric car company Tesla Motors, run by billionaire Elon
Musk, may cease to be just a car company. Tesla is widely expected to announce
that it is offering a home battery product, which people can use to store energy
from their solar panels or to backstop their homes against blackouts, and also a
“very large utility-scale” battery product, which may do the same for large
companies or even parts of the grid.3
Oil explorers idled rigs in U.S. fields for the 21st straight week, extending an
unprecedented retreat in drilling that has curbed domestic output and helped
crude prices rally. Rigs targeting oil in the U.S. declined by 24 to 679, Baker
Hughes Inc. said on its website Friday, the lowest level since September 2010.
Those seeking gas fell by three to 222, the Houston-based field services company
said. The total U.S. count, which includes four miscellaneous rigs, slipped by 27
to 905.4
A Malaysian-led group planning to develop a liquefied natural gas terminal in
northern British Columbia is offering one aboriginal community more than C$1
billion ($822 million) in incentives over 40 years to approve the project.5
Investors in financial markets who had bet oil prices would keep falling and the
U.S. dollar would keep climbing saw their trades backfire in April, Tommy
Stubbington and Christian Berthelsen report. The U.S. benchmark crude oil price
ended up soaring 25% after falling 11% in the first three months of the year. Quick
cutbacks by U.S. shale-oil producers and a slowdown in U.S. growth were a
couple of the surprise factors behind the turnabout across stock, bond, currency
and commodity markets.6
U.S. transportation regulators Friday issued tough new rules for railroads hauling
crude oil and ethanol that will require trains be equipped with expensive new
brake systems. The regulations also require that sturdier tank cars be built for
hauling oil, ethanol and other flammable liquids and prescribes upgrades for an
estimated 154,500 tank cars already carrying flammables.7
2 From: http://www.cnbc.com/id/102636704 3 From: http://www.washingtonpost.com/news/energy-environment/wp/2015/04/30/why-teslas-announcement-could-be-such-a-big-deal/ 4 From: http://www.bloomberg.com/news/articles/2015-05-01/u-s-oil-rigs-decline-for-21st-week-dropping-to-679 5 From: http://www.bloomberg.com/news/articles/2015-05-01/petronas-group-offers-aboriginals-c-1-billion-for-lng-support 6 From: http://blogs.wsj.com/moneybeat/2015/05/01/oil-turnaround-helps-whip-investors-energy-journal/ 7 From: http://www.wsj.com/articles/u-s-tank-car-rule-to-require-electronic-train-brakes-1430487467
TALKING ENERGY Volume 13
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Political Developments and National Trends
Bills at the “big six” energy suppliers [in the United Kingdom] are still an average
of £338 higher than the cheapest on the market, according to uSwitch, the
comparison service, despite a recent concession by the major firms – British Gas,
E.On, EDF, npower, Scottish Power and SSE – to cut costs by an average of
2.2pc. SSE will be the last firm to reduce prices, with a 4.1pc reduction for gas-
only customers and 2.2pc on dual fuel tariffs. These changes take effect on April
30.8
Fossil fuel companies enjoy far greater access to UK government ministers than
renewable energy companies or climate campaigns, an analysis by the Guardian
has revealed. Shell, the fossil fuel multi-national, has had at least 112 meetings
with ministers since the last general election, and its rival, BP, at least 79
meetings. But this outweighs the number of meetings that ministers granted to
renewable energy companies.9
Venezuela says it will cut the working day for public sector workers to five-and-a-
half hours to conserve energy, down from eight to nine hours. The initiative is part
of a nationwide electricity rationing plan. Vice-President Jorge Arreaza said there
had been a surge in energy demand due to extremely hot weather. He said state
employees would now work from 07:30-13:00 to save on air conditioning.10
Amid a far-reaching push to reduce New York’s environmental footprint, city
officials on Wednesday weighed a City Council bill to limit internal and external
light use in many commercial buildings when empty at night, a change that could
affect some 40,000 structures and rethink the shape, or at least the hue, of what
residents see when they look up.11
The influence of the Big Six energy companies in Whitehall is so strong that they
are dictating policy and preventing the electricity system from getting the radical
overhaul it desperately needs, a leading environmentalist, has claimed. Sir
Jonathon Porritt, a former chair of the Green Party, told The Independent that
executives from the energy companies have permeated the civil service, locking
the electricity system into a status quo that boosts their profits at the expense of
UK households.12
8 From: http://www.telegraph.co.uk/finance/personalfinance/energy-bills/11568340/The-real-test-for-energy-firms-who-spends-least-on-customer-service.html 9 From: http://www.theguardian.com/environment/2015/apr/28/fossil-fuel-lobby-given-far-more-access-to-uk-ministers-than-renewables-analysis 10 From: http://www.bbc.com/news/world-latin-america-32506572 11 From: http://www.nytimes.com/2015/04/30/nyregion/new-york-plan-to-save-energy-may-mean-a-dimmer-skyline.html?_r=0 12 From: http://www.independent.co.uk/environment/big-six-firms-use-influence-to-dictate-energy-policy-claims-leading-environmentalist-10196672.html
Register your placetoday online
Or contact Talita Covre Tel: +44 203 637 2997
Seats are limited and early registration is advisable.
Following a successful Russian Energy Forum 2014, we are happy to invite you to join us for the 2nd conference edition in London. This year we extend the event to one full day, comprised of four sessions, networking breaks, hot lunch and evening gala reception. Packed with 100+ speakers, experts, energy and finance companies, professional services firms and distinguished government and VIP guests, this is a not-to-miss senior level forum and opportunity to meet in person the leaders moving forward Russian energy sector.Attendees will engage in panel debates, special focus roundtables and will enjoy companies’ presentations on what matters the most for international energy business with Russia in the current climate.
Russian Energy:a year under sanctions. Change in companies’ strategies, government’s vision and international cooperation
Russia-Europe energy relations: Turkish stream, Ukraine’s position and gas trading dynamics in the region
Financing in the current climate:mid and long-term possibilities and risks, sources of liquidity and transaction opportunities
Russia-China energy relations update:progress with the gas deal and possibility for strategic partnership
9 June 2015, 8.30am-5.30pm Central London
Dr Boris AbramovTrade Representative of the Russian Federation in
the UK, Ministry of Economic
Prof. Keun-Wook PaikSenior Research Fellow
Oxford Institute for Energy Studies
Mr Sergei KomlevHead of Contract Structuring and Pricing Directorate
Gazprom Export LLC - TBC
Mr Louis SkynerHead of Russian & CIS Oil & Gas Practice,
Clifford Chance
Ing. Paul SullivanSenior Vice President Global LNG and FLNG,
WorleyParsons Group
Mr Rodolphe OlardManaging Director, Global Head of Natural
Resources Advisory, Structured Finance,
ING Bank
Mr Alex GriffithsManaging Director, Head of Natural Resources and
Commodities, EMEA, Fitch Ratings
Organised by:Eurasian Dynamics Ltd.
Key speakers on the day include:
There are four key discussion areas:
Supported by:
Promotion codeNRGExpert5
http://eurasiandynamics.com/russian-energy-forum-2015/[email protected]
TALKING ENERGY Volume 13
P a g e | 6
TALKING ENERGY Volume 13
P a g e | 7
Green Vehicles
For years car companies have been promising that a little magic box known as
the hydrogen fuel cell would revolutionize transportation. Proponents were
exhaustive on the subject of exhaust. Clean water would be the only thing flowing
from the tailpipe. It would be an emissions-free panacea. The hype has been
toned down recently, but those who have spent years working on fuel cells
continue to promise that hydrogen has a future.13
Reviewers from all parts of the automotive world just seem to love the Tesla
Model S, whether it's the pragmatists at Consumer Reports or the enthusiasts at
Car and Driver. You can add one more to that list because the 2015 P85D grabs
the top spot in AAA's fifth annual Green Car Guide, after Tesla's win last year too.
The organization's ranking of 88 green models also names the 2014 Nissan Versa
SV as the best value in the segment. To take the victory, the P85D had to score
the most points over 13 categories, including emissions, acceleration and cargo
capacity, and it won handily with 94.87 points. There was nearly a tie for second
place, though. The 2015 Volkswagen e-Golf SEL Premium scored 85.5 points,
and the 2014 BMW i3 narrowly came in third with 85.4.14
Green Energy
Silicon Valley start-ups are proud of their fast-paced culture and being first movers
in creating new product categories and markets. UN climate change summits are
the opposite: they sit and discuss the risks of being first movers by transforming
our energy systems to reduce emissions and protect our planet, but only the
proverbial second mouse gets the cheese. Silicon Valley treasures those who
take risks, fail fast and iterate – at this year’s Paris climate change summit we
need to adopt more of this approach.15
[US] President Obama signed into law Thursday [April 30, 2015] a long-stalled
bill to improve energy efficiency in buildings and stop efficiency rules for certain
water heaters. The measure has strong bipartisan support and easily passed the
Senate in March and the House earlier in April.16
13 From: http://www.cbc.ca/news/canada/british-columbia/hydrogen-fuel-cells-find-a-niche-despite-doubts-of-tesla-s-elon-musk-1.3054628 14 From: http://www.autoblog.com/2015/04/28/aaa-ranks-tesla-model-s-p85d-best-green-car-of-2015-versa-is-be/ 15 From: http://www.theguardian.com/environment/2015/apr/29/countries-that-lead-the-switch-to-clean-energy-will-reap-the-financial-rewards 16 From: http://thehill.com/policy/energy-environment/240691-obama-signs-energy-efficiency-bill-into-law
