Energy

Deputy under-treasurer Michael Court has joined the board of Horizon Power, the latest in a string of moves to appoint government employees to directorships at energy utilities.

There’s growing pressure for the state government to rethink how it prices electricity because of the proliferation of solar panels, but the issue could be electoral dynamite.

Zenith Energy has raised $4.8 million via a shortfall placement, having raised just $220,000 in a share purchase plan last month.

Investors have welcomed Valmec’s announcement that it expects to record a 64 per cent rise in net earnings for the 2019 fiscal year.

Fremantle-based MMA Offshore will acquire Neptune Marine Services in a cash-and-scrip deal worth around $18.5 million, as it seeks to expand its services business.

Worsley Alumina has locked in gas supply deals with Chevron and Woodside Petroleum today, as Santos chief executive Kevin Gallagher warns of a looming price spike.

Pacific Energy has entered a takeover deed with investment group QIC, with major shareholder Kenneth Hall set to reap more than $200 million from the deal.

Pacific Energy has enetered a trading halt today, ahead of an announcement regarding a takeover offer for the remote power provider, with competitor Zenith Energy enjoying a share price surge on the news.

Pacific Energy has secured a contract to supply electricity to Round Oak Minerals’ Jaguar copper-zinc mine in the Goldfields.

The state government will spend $10 million to push the development of a renewable hydrogen industry for exporting, remote power, fuel cell vehicles and use in gas networks.

Santos has increased its gas production in Western Australia, following its $2.9 billion takeover of Quadrant Energy late last year.

Incentivising the uptake of home battery systems might help avoid a major capital expenditure requirement on the grid.

Woodside Petroleum has reported a 32 per cent drop in second-quarter revenue, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker prices.

Uptake of rooftop solar is being severely distorted by a flawed pricing structure for electricity, forcing higher costs across the grid, according to one of Australia’s leading authorities on energy markets.

Genex Power has secured a $610 million federal government loan to help finance its 250-megawatt pumped hydro project in far north Queensland.

Paul Dalgliesh has been appointed as the chief executive of Tempo Australia, and William Howard will also join the struggling contractor as its chief financial officer.

Calima Energy has raised around $12.7 million, via a placement and entitlement offer, with the funds set to be primarily used for general working capital purposes.

Regional Development Minister Alannah MacTiernan announced the Collie Future investment prospectus this morning, touting millions of dollars in funding for the regional town.

The vast emptiness of WA has proved to be an advantage when developing skills in the rollout of new electricity technology.

Two microgrid projects worth a combined $123 million have moved forward today as the technology becomes increasingly mainstream, with Gold Fields and GMA Garnet mine sites to have big renewable power and storage components.

Wesfarmers subsidiary Evol LNG has secured a six-year deal to supply gas for a 14.5-megawatt power station to be operated by Zenith Energy at the Kirkalocka gold mine.

Tempo Australia has emerged from a one-and-a-half month trading halt to announce it has agreed terms in-principle with Enel Energy that will potentially prevent a cost blowout at a major solar contract.

Woodside Petroleum has forecast its 2019 output will be at the lower end of its guidance of 88 million to 94 million barrels of oil equivalent, as a result of maintenance issues at its Pluto liquefied natural gas plant.

AGL Energy has announced a new $3.02 billion offer for telco Vocus less than a week after Swedish private equity firm EQT Infrastructure scrapped its own takeover bid for the Sydney-based company.

Valmec has secured a $4.5 million contract at Australian Gas Infrastructure Group’s Hydrogen Park production facility.

A Willetton-based nominee company associated with contractor Pascoe's Gas, Water & Electrical has been hit with an increased fine after refusing to provide documents to the state government, which is trying to clarify the precise links between the two entities.

Western Power chief executive Guy Chalkley has been appointed to the network operator’s board, while Kathryn Barrie will wear two hats as a director of the business and continuing in a senior role at the Public Utilities Office.

Chevron has started the second stage of its Gorgon drilling campaign, which will create 11 new wells at the $5 billion project on Western Australia’s north-west coast.

The Environmental Protection Authority will commence formal consultation next month on its greenhouse gas guidelines, refuting media reports it has already decided to revive the guidelines that caused industry outrage earlier this year.

ASX-listed Strike Energy will not receive its federal government research and development tax credits for the 2018 financial year, a week after West Perth-based Northern Minerals was ordered to pay back 50 per cent of its $21.56 million R&D rebate for the same financial year.

Andrew Forrest has pounced on a potential play to supply WA gas to an east coast industrial market pounded by high prices.

Horizon Power chair Stephen Edwell has been picked to lead the state government’s Energy Transformation Taskforce, two months after a review into energy policy was first announced.