PG&E, Canada's Net-Zero Grid Goals: Your Daily Energy News

---

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
Canada Pushes Out Goals for Net-Zero Power Grid by 15 Years - Canada unveiled its finalized Clean Electricity Regulations (CER) on Tuesday that aim to create a net-zero electricity grid by 2050, abandoning its previous target of having an emissions-neutral grid by 2035. Ottawa dialed back its original target after feedback from some provinces and energy industry participants, who said the draft CER regulations would make electricity supply in Canada less reliable, more expensive and risked creating stranded assets, government officials said in a briefing. (Reuters)

U.S. Offers California's PG&E $15 Billion Loan to Bolster Power Grid - The U.S. Department of Energy (DOE) said on Tuesday it had offered a conditional loan of up to $15 billion to PG&E Corporation (NYSE:PCG) (Oakland, California) to support climate resilience projects and strengthen the power grid. "The DOE loan program can help us accelerate the pace and impact of this work," Chief Executive Officer Patti Poppe said of the plans for PG&E, which provides power and natural gas to about 16 million people as the biggest electric utility in the most populous U.S. state. If finalized by the Loan Programs Office, the record loan will support multiple energy projects. (Reuters)

Japan Targets 40-50% of Power from Renewable Sources by 2040 - Japan wants renewable energy to account for up to 50% of its electricity mix by fiscal year 2040 with nuclear power taking up another 20%, according to a draft of its revised basic energy policy, as it makes a clean energy push while meeting rising power demand. Nuclear power accounted for 8.5% of the country's power supply in 2023. (Reuters)

.....

About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).