Wind turbine manufacturers cut jobs as supply chain woes and higher prices for key materials bite. Turbine prices are locked in by customers years in advance. It is difficult for manufacturers to pass on higher costs. They are at risk of losing market share to Chinese competitors. New capacity added this year globally will be 94-95 GW the same as 2021.

Expand too slowly and manufacturers risk losing out on gigascale orders; expand too fast and risk failing to sell equipment from expensive gigafactories. A glut will make some manufacturers bankrupt, according to Norwegian analyst Rystad Energy. The demand will hover around 30-40% of the available production capacity between 2024 and 2030.

UK day-ahead power prices tripled to record levels as tight generation margins combined with soaring power import, natural gas and carbon prices. The UK's coal phase-out and low wind generation have exposed the market to rising gas prices. Adding to the strain of coal closures has been the UK's ageing and inefficient nuclear power plants.

Former Naftogaz chair Andriy Kobolev says that if Russia cuts off gas supply to Europe this winter, it will be the end of Gazprom’s presence in European markets. Russia wants to remain Europe’s primary gas supplier. It is now burning gas, because it cannot reduce output. Shutting down a shaft means a 50% lower output when extraction resumes.

Uranium reserves of 7.6 million tons are on a course to reach exhaustion within a century. The Indian institute IISER was successful in extracting uranium from seawater, which contains 1,000-times more uranium than conventional sources. The challenge was to capture it cost-effectively. They managed to capture 95% of uranium within two hours.

Company says it is reducing production for few hours where possible as ability to cool plants with river water is restricted. However, half of EDF’s 56 nuclear reactors are offline due to planned maintenance and work to repair corrosion which was delayed by the pandemic. France is relying on expensive imports from the neighbouring countries.

A scorching heat wave is pushing the Texas grid to the brink. Power demand is surging as people crank up air conditioners. But wind speeds have fallen to extremely low levels and that means the state’s fleet of turbines is at just 8% of their potential output. Texas may be America’s oil and gas hub, but it’s also long been the country’s biggest wind-power state.

The share of the EU's gas supply provided by Russia dropped to 20% in June 2022. The gap of over 300 TWh in the first 6 months of 2022 compared to 2021 has been filled mostly by 240 TWh of additional imports of LNG. Because the internal gas market is not perfectly connected, countries will need to reduce their gas consumption by 0-54%.

Electricite de France SA may have to reduce output at some of its nuclear reactors, as drought reduces the amount of water available for cooling. This adds further strain to Europe’s energy supply. France may have to import more power in the coming months because half of its 56 nuclear reactors are halted for repairs or planned maintenance.

The price of futures for baseload electricity delivered in France in Q1 of 2023 is over €600/MWh. For years, the baseload price was under €50/MWh. The jump in price is due to fears that the lack of investment in new power stations will mean a shortage during the coming winter. As France used to be an exporter, this affects the prices across Europe.

French energy company EDF said that the 3.2 GW project in the UK will cost £25bn-£26bn. It was estimated at £18bn when it received the go-ahead in 2016. The first reactor unit is now scheduled to start operating in June 2027 due to Covid-related delays. EDF and its junior partner, China’s CGN, receive a guaranteed price of £92.50 per MWh.

Germany, Belgium, the Netherlands and Denmark plan to build 150 GW of offshore wind capacity in the North Sea to help achieve the EU's climate goals and, eventually, break away from Russian energy. The ambition is also to use the power to make hydrogen and green fuels for heavy industries and transportation that cannot easily be directly electrified.