AGP Executive Report

Storm Recovery: Severe thunderstorms and heat-wave conditions left tens of thousands without power across the US, with Lancaster County, Pennsylvania reporting 28,707 customers still out as of Monday morning and PowerOutage.com citing more than 500,000 outages nationwide, led by Pennsylvania (107,792) and Michigan (100,621). Grid & Regulation: The Philippines’ Department of Energy flagged 114 generators for failing to explain prolonged shutdowns or derated output, warning of supply vulnerabilities and grid instability. Oil Market: Oil prices eased after Opec+ agreed to raise August output targets by 188,000 bpd, while Saudi Aramco cut its August Arab Light OSP to Asia by $11/bbl amid softer demand and improving supplies. Nuclear & Power Tech: A Miami company, City Labs, is set to launch the first commercial nuclear-powered spacecraft using a tritium battery on a SpaceX mission, and BlackRock CEO Larry Fink warned AI is constrained by the US power grid’s ability to deliver electricity. Energy Transition & Projects: India’s NHPC inaugurated a 300 MW Karnisar solar plant in Rajasthan, while Sunsure Energy secured INR 262 crore debt for a 75 MWp open-access solar project in Tamil Nadu. Policy & Costs: China moved to end 50% vehicle and vessel tax breaks for energy-efficient vehicles from Jan 1, 2027, and Malaysia’s eCOSS app reported curbs on subsidised cooking oil leakages.

Storm Restoration: Severe July 4 storms left thousands without power across the US, with Ameren warning Lake of the Ozarks restoration could take “multiple days” after damage to its grid; PPL reported about 145,000 customers still without power in Pennsylvania as crews from across regions joined restoration; and Eversource said roughly 62,000 customers remained without power statewide in Connecticut, with New Canaan hit hardest. Renewables & Storage in the Pipeline: Sri Lanka advanced renewables with SLAM Power Solutions commissioning the country’s first industrial BESS (125kW/241kWh) integrated with rooftop solar, while HayWind said all 10 turbines for its 50MW Mannar wind farm have arrived for installation. Solar Policy Pushback: Australia’s Nioka Solar (250MW) faced community opposition in Glenrowan, with critics arguing approvals and cumulative-impact rules aren’t being applied and warning the ministerial decision window is narrowing. Oil & Markets: OPEC+ agreed to raise August output targets as Hormuz exports recover, nudging Brent and WTI lower and easing energy-cost pressure in Asia. Grid Demand & Nuclear Debate: South Korea’s semiconductor and AI data-center plans could require major power expansion, with officials saying nuclear should be on the table to meet timelines.

OPEC+ Oil Policy: OPEC+ has agreed to lift August oil output quotas by 188,000 bpd as it continues unwinding 2023 cuts, with delegates citing improving Strait of Hormuz flows and a push for market stability. Grid Disruptions from Weather: Severe storms and heat across the US have knocked out power for tens of thousands, including 80,000+ in Maryland and 220,000+ in Michigan after Friday thunderstorms. Energy Infrastructure Under Attack: Ukraine says unmanned systems struck 16 power substations in southern occupied areas over two days, including 10 in Crimea, while reports also point to outages in Crimea. Fuel Supply & Prices: Mauritania is keeping its fuel oil subsidy at 70 MRO per litre to cushion cost-of-living pressure, and India is moving toward diesel blending with up to 15% isobutanol to cut crude imports. Safety Incidents: A deadly Maine crash triggered a gas leak and evacuations; separate incidents in Afghanistan and the US highlight ongoing risks from domestic gas and fuel spills.

Storm Outages: Severe thunderstorms and extreme heat across the US Independence Day weekend left hundreds of thousands without power, including 842,000+ US households at peak, with major impacts in the Midwest and Northeast; mid-Missouri alone saw 105,800+ customers without service as crews responded to downed lines and storm damage. Local Grid Response: Utilities and officials reported ongoing restoration in places like Savannah (downtown outage), Lehigh Valley (nearly 12,000 customers), and the Bronx (Con Edison working to restore power after a second day). Oil & Gas Geopolitics: Iran opened talks with Japanese buyers for crude exports under a temporary US sanctions waiver, while India withdrew emergency gas curbs as LNG supply resumed. Nuclear Tensions: Satellite reporting raises questions about Iran’s uninspected underground “Pickaxe Mountain” site near Natanz, as the US-Iran nuclear framework faces scrutiny. Clean Energy Funding: Canada’s prairie provinces received $26M in clean energy support, including grid and research work to strengthen transmission links. Grid Flexibility Tech: Field trials with Nvidia/Oracle suggest AI data centers can cut power use 30%+ during grid stress, pointing to faster demand response without new plants. Transmission & Land: Gujarat issued new rules for compensation in transmission line corridors, aiming to balance costs between landowners and power developers.

Ukraine–Russia Energy War: Ukraine struck major oil infrastructure in St. Petersburg and nearby port facilities, with Russian officials reporting drone attacks and damage that adds to fuel-supply pressure. Grid Stress in the US: A heat dome is pushing the eastern US power system toward crisis conditions, with utilities warning of outages and urging conservation as demand spikes. EU Sustainable Finance: The EU Council moved to loosen rules that let oil and gas expansion qualify for “sustainable” transition funds, drawing criticism amid extreme heat. Middle East Gas Push: Syria began developing gas fields with Saudi firm ADES in Homs, targeting faster output to support electricity generation and ease power shortages. India Power & Industry: Andhra Pradesh launched a JSW steel plant backed by a 3,850 MW solar-and-wind captive power project, while India’s NHPC solar auction cleared at INR 2.73/kWh for 1,200 MW. Renewables & Local Power: Lithuania moved to lift its nuclear weapon ban, and Glasgow’s Sunny Cycles uses rooftop solar to charge electric bikes. Energy Markets & Consumer Impact: Serbia’s Energoprojekt forced buyout advanced after a takeover threshold, and US gas prices show pockets of easing after volatility.

Black Sea Fuel Crunch: Russia’s Novorossiysk, home to its biggest Black Sea oil terminal, is running out of gasoline and facing diesel limits after refinery attacks and export curbs. Grid Resilience Under Strain: Storms left hundreds of thousands without power across Michigan, with DTE reporting 320,000 customers out and Consumers Energy topping 129,000. Urban Reliability Fix: Mumbai’s BEST says it has flagged nearly 1,200 underground cable fault spots and is seeking road-dig permissions for a ₹20 crore overhaul. Nuclear Safety Watch: A transformer fire at New Hampshire’s Seabrook site was contained with “no danger” to the public and no plant impact, blamed on extreme heat. Energy Security & Investment: Hitachi Energy won a €770m contract for HVDC converter stations for the Tunisia–Italy ELMED link. Nuclear Diplomacy: Experts warn Iran’s underground work at an uninspected site is “deeply” concerning as IAEA access remains blocked. Clean Fuel Deal: ACME Green Molecules and Mitsubishi Gas Chemical signed a $1bn green methanol supply agreement for RFNBO-compliant marine fuel. Power Market Pressure: India’s petroleum minister said petrol/diesel price cuts could become a “legitimate question” if crude stays stable, after OMC losses. Renewables Storage Boost: The World Bank backed a $265m Morocco pumped-hydro storage project to stabilize renewables. Cyber Threat Planning: US regulators urged utilities to plan as if attackers are already inside grid-connected systems. Solar Expansion: Aboitiz Power inaugurated a 92MW San Manuel solar plant in Pangasinan, lifting its local solar capacity above 300MW.

US-Iran Oil Watch: Oil edged higher ahead of the US Independence Day holiday as markets stayed cautiously optimistic about diplomacy, after crude had slid to multi-month lows; traders also pointed to rising output as the Strait of Hormuz reopens. Grid Stress & Data Centers: A new look at where AI data centers are growing shows power-grid strain risks, especially across PJM, where heat alerts and load-management plans could hit large users. Clean Power Deals (UK/Europe): Shell signed a 10-year PPA with ubitricity for electricity from its 17.6MW Iddenshall solar project to serve UK public EV charging demand; in Belgium, JERA Nex BP raised stakes in two offshore wind farms to take full control of Northwester 2 and 80.1% of Nobelwind. Industrial Renewables (India): Welspun New Energy signed captive wind-solar hybrid PPAs with Tata Motors to help the automaker move toward 100% renewable electricity by 2030. Solar Build-Out (India): Maharashtra invited EOI for floating solar plus battery storage on Veer reservoir under PPP, while Tata Power Renewable commissioned its 100.8MW Jewali wind project in Maharashtra. Energy Policy Signals (US): US Energy Secretary Chris Wright said wind and solar production/investment tax credits tied to sections 45Y and 48E will end for projects placed in service after 2027, with a construction-date exception. Nuclear Oversight (Iran): IAEA chief Rafael Grossi said inspections at Iran’s nuclear sites are expected under an interim US-Iran deal, though Iran links access to a final agreement and sanctions progress. Power Reliability (Philippines): Ormeco scheduled a two-hour early-Saturday outage in parts of Calapan City for feeder corrective works, including switchgear upgrades. Procurement & Infrastructure (US): Maverick Power named Brandon Ray as Chief Procurement Officer to strengthen supplier partnerships and scale delivery.

Grid Recovery & Resilience: Venezuela’s La Guaira says it has restored 95% of electricity service after the June 24 earthquakes, with remaining work focused on the hardest-hit areas. Power Demand Pressure: New York’s grid is strained as electricity demand rises, while extreme heat across the US is pushing utilities to issue advisories and manage peak loads. Nuclear Debate & Policy: New York’s upstate nuclear push faces reliability and planning questions as renewables and aging infrastructure struggle to keep a shrinking “power cushion” steady during spikes. Hormuz Shipping Risk: Iran warns oil tankers to use approved Strait of Hormuz routes or face a “forceful response,” adding uncertainty to a key global energy chokepoint. US Power Buildout: The IEA says US spending on coal and gas power is set to hit about $50bn this year, driven by data-center demand for gas turbines. Clean Power on the Ground: Liberia’s World Bank-backed project installed 650 solar streetlights across Bushrod Island communities. Corporate/Market Moves: Energy Transfer and related firms plan to redomicile to Texas, while Canadian Solar reports all shareholder proposals approved.

Oil & Security: Russia launched an 11-hour drone and missile attack on Kyiv, killing at least 20 and injuring scores, as Ukraine targets Russian oil infrastructure and Moscow frames the strikes as retaliation. Power Markets: European energy profits are expected to lift STOXX 600 earnings, with energy seen leading growth as oil prices swing on US–Iran developments. Grid & Reliability: Portugal and Spain inaugurated a new cross-border electricity link to move more renewable power across the Iberian Peninsula. Renewables + Storage: IRENA says battery costs are falling fast and co-locating batteries with utility-scale solar is becoming the “default,” enabling more firm power. Policy + Regulation: India’s MNRE urged CERC to set technology-specific DSM rules for wind and solar to protect project bankability. Project Pipeline: Oman is evaluating a 141-km subsea cable to connect Musandam to the national grid, targeting commissioning by 2030. Local Energy Stress: Pakistan’s power circular debt reportedly rose to Rs240b despite government claims of reductions. Business Moves: Inox Clean Energy secured INR 700 crore from Adar Poonawalla Family Office to expand renewables and manufacturing.

Electricity Prices & Grid Strain: In southeast Michigan’s heat wave, DTE reported outages affecting 15,000+ customers Wednesday night, with crews restoring power in stages as equipment overheated under heavy demand. Utility Costs & Consumer Pressure: In Iloilo City, Philippines, MORE Power raised electricity rates by P2.04 per kWh in June, blaming higher pass-through charges. In Massachusetts, a National Grid billing error led to a $28,000 withdrawal for a gas bill the customer said she didn’t owe. Oil Market Watch: OPEC+ sources say output targets may rise in August even as prices fall, with Brent around $72 amid easing Hormuz concerns. Energy Security & Nuclear: Iran’s parliament speaker says IAEA access to bombed nuclear sites will be blocked, while only Bushehr and Tehran Research Reactor remain open. Renewables & Power Bills: New Zealand’s NPDC is cutting bills with new solar arrays, while Illinois projects add pollinator-friendly solar. Project Pipeline: India’s power demand is driving high-capacity conductor demand, and Zimbabwe is moving toward a $400m floating solar plan on Lake Kariba. Offshore Wind Education: ARROW-SEA 2026 trained the next generation of offshore wind professionals.

Oil & Gas Markets: Crude slipped as Strait of Hormuz traffic rebounded and U.S.-Iran indirect talks resumed via Qatar mediators, with Brent near $72 and WTI near $69, while markets also weigh possible OPEC quota changes. Middle East Energy Politics: Iran says it has sold 40+ million barrels since port blockades eased, at ~20% higher prices, as negotiations focus on frozen assets and Hormuz. Power Prices & Bills: Euro-zone inflation cooled more than expected as oil retreated; in the U.S., gas prices remain above last year and California’s gas tax rose 2.2 cents/gal ahead of Independence Day travel. Grid & Outages: Storms left 32,000+ Hydro One customers without power in Ontario, and heat is straining Ohio’s grid with outage risk. Renewables & Storage: India’s Ayana Renewable Power won 193 MW wind at INR 4.17/kWh, while ACME commissioned a 240.7 MWh Rajasthan BESS. Ukraine Grid Support: Donors pledged €100m+ for Ukrenergo to boost transmission efficiency, resilience, and digital grid management. EV Policy: The Philippines regulator is drafting vehicle-to-grid rules for EV owners to sell excess power back to the grid.

Energy Prices & Policy: Gasoline is easing in the US ahead of July 4, with GasBuddy reporting lower averages across many states, while Indiana’s Gov. Mike Braun moves to reimburse local governments for gas tax revenue lost during fuel-tax suspensions. Grid Reliability & Outages: A brush fire near Reno sparked a power outage but caused no home damage, and Nagaland’s power department scheduled transformer work that will cut supply for several feeders in Dimapur. Energy Costs & Efficiency Push: Governments meeting at the IEA’s energy-efficiency conference pledged stronger efficiency action to blunt future energy-shock impacts, with the message that efficiency is the fastest lever for affordability and security. Nuclear & Waste: The US NRC proposed a new regulatory pathway to license disposal of Greater-Than-Class-C nuclear waste, while Scotland’s nuclear delivery body says there are “high potential” sites for future nuclear development despite current planning limits. Hydrogen & Clean Power: California Gov. Gavin Newsom signed SB 1350 to expand green hydrogen use in power plants, and QatarEnergy signed steps to advance offshore Cyprus gas field development with ExxonMobil. AI Power Demand: DBS warned that energy is the chokepoint for AI growth and urged investors to back grids, storage and nuclear alongside tech, as US data-centre critics push back on electricity costs.

Wind Power Milestone (South Africa): Enel Green Power RSA says the full 330 MW Impofu Wind Farm cluster in the Eastern Cape has entered commercial operation, backed by long-term PPAs with Sasol and Air Liquide and a wheeling setup to deliver power to Sasol’s Secunda site. Solar Buildout (Spain): Plenitude (Eni-controlled) has started production at its 220 MW Villarino PV plant in Salamanca, expected to generate 400 GWh+ annually and adding to its Castilla y León renewables footprint. Grid & Storage Push (India): Pace Digitek’s Lineage Power signed a 3 GWh battery-cell procurement deal with Guangzhou Rongjie Energy Tech to support utility-scale and C&I storage manufacturing. Permitting Pressure (U.S.): A Wood Mackenzie analysis warns a DOI review push could put 12 GW on federal lands and 80 GW on private lands at permitting risk, threatening investment and project timelines. Oil & Gas Markets: Oil prices edged higher amid peace-talk uncertainty, while Bulgaria’s regulator approved a higher July regulated gas price (€37.70/MWh). Energy Demand & Reliability (TVA, U.S.): TVA’s draft plan shifts toward more natural gas as it scales back wind expectations to meet rising demand, including data centers. Local Power Outages: Heat and storms continue to disrupt supply, with multiple regions reporting thousands without electricity.

Middle East Energy & Oil Markets: A fragile US-Iran truce is holding, but analysts warn Strait of Hormuz shipping is still far from normal, keeping oil near pre-war levels while delays, insurance risk, and high costs linger. US Policy & Consumer Fuel Costs: California lawmakers advanced a bill to expand wartime price-gouging protections at the gas pump, as lawmakers push for faster relief during global conflict-driven fuel spikes. Clean Energy Lawmaking: California also approved a bill to let natural-gas power plants blend renewable green hydrogen, aiming to keep reliability while transitioning away from fossil fuels. Electricity Safety & Grid Stress: Iowa’s utilities regulator opened a broad safety investigation into Black Hills Energy after finding widespread pipeline issues, while Wisconsin utilities issued extreme-heat alerts and urged conservation to avoid bill shock. Power Outages & Courts: India’s Bombay High Court ordered Maharashtra to restore electricity to eligible slum residents in Garib Nagar after missed deadlines. Infrastructure & Supply: Eni and Libya’s NOC started up a Sabratha compression project to boost declining Bahr Essalam gas output, supporting power generation and exports to Italy. Weather Disruptions: Severe storms in South Dakota brought extreme wind gusts and major damage, knocking out power and prompting state response.

UK Power Devolution: Andy Burnham unveiled “Number 10 North” in Manchester, pitching a “biggest rebalancing of power” to shift control of utilities and planning to regions, alongside a major council house build push. Grid Strain & Billing: Dominican electricity regulator chief Marranzini blamed system overloads (not planned blackouts) amid heat-driven demand, while the UK’s Power Division ordered utilities to review unusually high June bills. Energy Security & Oil Flows: Oil steadied as the US-Iran truce held after a Hormuz flareup, easing shipping fears and lifting Brent/WTI back near $70. Renewables + Storage Deals: Envision Energy signed a 660MWh BESS supply deal for South Africa’s Naos-1 hybrid solar project, and Lineage Power agreed to buy 3GWh of LFP cells from Rongjie Energy Tech. Gas Market Policy: Malaysia’s gas industry urged removing the RM35 power-sector gas price cap to attract more international players. Power Rationing: Sabah Electricity began scheduled rationing after gas supply disruptions cut generation capacity. Safety Incidents: A suspected liquefied gas leak explosion in China’s Liaoning killed three people, while Hungary urged households to cut evening electricity use during peak hours.

Solar Push in Zimbabwe: Kamativi Mining is investing US$25m in a 36MW solar farm at its concession, aiming to cut costs and emissions by September, while Zimbabwe also moves toward a US$400m, 500MW floating solar project on Lake Kariba with financial close targeted for October. Corporate Rooftop Solar: Papua New Guinea’s SP Brewery put at least K8m into rooftop solar and a new bulk warehouse in Lae, framing renewables as a way to cut carbon and improve reliability. Grid-Scale Renewables & Storage: Lithuania’s Litgrid reserved a record since 2024—2,836MW for renewables and storage, including 2,321MW plus 5,082MWh of storage, as it targets 10GW of renewables by 2030. Energy Security Meets Geopolitics: Oil prices jumped on US-Iran tit-for-tat strikes and Hormuz shipping jitters, while Russia’s Putin said Ukrainian attacks are causing “certain” fuel shortages. Downstream Pressure in Nigeria: Nigeria’s FCCPC accused oil marketers of not passing on falling global crude prices, warning of sanctions. Power Reliability & Outages: Kyrgyzstan scheduled outages for infrastructure work; Zimbabwe’s and other regions’ disruptions continue to show how grid upgrades and maintenance shape daily power access. Nuclear Debate Returns: A new push for nuclear reactors in the US/Canada and renewed talk of nuclear as AI demand grows keeps the sector back in the spotlight. Fatal Aramco Crash: Saudi Arabia reported 14 deaths after an Aramco helicopter crash near Ras Tanura, with an investigation opened.