AGP Executive Report

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.

Oil & Security: Saudi Aramco helicopter crash killed 14 near Ras Tanura as the company shifts exports amid Strait of Hormuz disruption. Oil & Environment: A barge sank at Aswan port, containing an oil slick and prompting water-quality monitoring around Lake Nasser. Power Reliability: Philippines’ Visayas faces rotational blackouts and higher bills after NGCP alerts tied to outages at major plants; Visayan Electric also raised June rates as WESM generation costs spiked. Renewables Buildout: China’s non-fossil capacity keeps expanding, while the world’s first 16-MW TLP floating wind platform sailed to power offshore oil operations; Delaware pushes faster community solar permitting. Grid & Storage: Oman’s Integrated Gas Company signed new spot gas market agreements; Envision Energy locked in a 660MWh battery deal for South Africa’s Naos-1 hybrid project. Policy & Access: A global report flags 655 million people still without electricity, with Sub-Saharan Africa worst hit; Uganda urged to make power affordable. Geopolitics & Energy Warfare: Ukraine struck two Russian oil refineries, targeting fuel for the war effort. Nuclear Politics: India’s Bataan nuclear revival hit local resistance as Morong declared a nuclear-free zone; Japan restarted Kashiwazaki-Kariwa but faces spent-fuel disposal constraints. Trade & Solar: Waaree Energies says US CBP confirmed it didn’t export US-bound solar modules made with Chinese-origin cells.

Grid Security & Reliability: A federal grand jury indicted Randy Scott Vail for allegedly shooting at Idaho Power’s Hells Canyon and Brownlee hydro stations, causing major damage and power disruption. Policy & Regulation: Nigeria’s Electricity Act 2023 amendments face court threats from the All Electricity Consumers Protection Forum, arguing they would roll back state control. Energy Access Finance: Africa’s Mission 300 secured about $1.4bn in co-financing to connect 300 million people by 2030, led by the EIB. Power Market Tensions: New Jersey advanced a bill to cut AI/data-center tax credits and redirect funds toward energy storage and household bill relief. Long-Duration Storage: Google and Energy Dome plan a 23MW/200MWh CO2 battery in Ireland’s Offaly, targeting grid stability from 2028. Fuel Pricing Pressure: Pakistan kept petrol and diesel prices unchanged for the week despite crude easing, while industry warns frequent diesel/petrol formula changes are destabilizing supply chains. Conflict & Energy Infrastructure: Ukraine reportedly struck a Russian refinery in Krasnodar Krai, as U.S.-Iran tanker attacks keep Strait of Hormuz shipping in focus. Local Outages & Protests: Iraq’s Wasit saw protests over electricity cuts, while multiple regions reported storm-driven outages and planned shutdowns.

Middle East Tensions: A projectile struck a tanker in the Strait of Hormuz, damaging its bridge; UKMTO said the crew is safe and urged extra caution as US-Iran exchanges continue. Oil Market Watch: With Hormuz traffic resuming, Brent signaled a near-term supply glut and crude volatility eased after earlier drops. Ukraine Energy Attacks: Ukraine’s SBU said it hit Russia’s Vtorovo oil pumping station again, while Russia launched missiles and drones at Naftogaz production facilities in Ukraine’s Poltava and Kharkiv regions. EU Energy Policy: Estonia, Latvia and Lithuania urged the EU to speed up a Russian oil import ban, arguing even small remaining volumes still matter for war financing. Renewables & Storage: Guam’s PUC approved 62 MW of renewable awards, including sites near a golf course and Andersen Air Force Base; Ireland’s Knock Basilica won a renewable project award for rooftop solar. Grid Reliability: Nigeria’s TCN scheduled maintenance that could disrupt power across several states; UK outages hit Cheltenham and Winchester due to grid faults. India Clean Power Push: Uttar Pradesh targets 20 GW renewables in 2-3 years, while a new Jewar solar manufacturing push aims to boost exports and reduce import dependence.

Courtroom Watch: The Philippines’ Sandiganbayan said prosecutors sufficiently informed former Energy Secretary Alfonso Cusi in the Malampaya gas project graft case, after a bill of particulars was admitted. Grid & Power Prices: Delaware’s Delmarva Power cut its interim rate increase request by about 40%, but the Public Service Commission postponed a decision to early July; Illinois also moved forward with a Clean and Reliable Grid Affordability Act trailer bill to support wind, solar and battery buildout. Renewables on the Ground: Yangon Region will fund solar street lights to improve nighttime visibility and law enforcement support; Sussex County approved solar projects after developers adjusted plans to protect a therapeutic riding center. Storage Boom: Energo-Pro commissioned its first Bulgaria battery energy storage system (10.75 MW/24.31 MWh). Oil & Gas Signals: Serbia’s NIS, Russia-linked, seeks a new U.S. sanctions waiver to keep operating after July 1; Baker Hughes reported the biggest weekly U.S. rig increase since June 2022. Energy Security & Demand: China outlined a massive five-year energy investment push to boost power capacity and handle AI-driven electricity growth. Safety & Incidents: Reports surfaced that solar panels at a burned Boyle Heights warehouse were repaired without permits, while quake response teams in Venezuela urged gas leak reporting via VenApp and a toll-free hotline.

Energy Storage Boom (US): The US added a record 3.3 GW/8.4 GWh of energy storage in Q1 2026, with total capacity forecast to reach 200 GW by 2031 as tax policy and big-load demand keep batteries moving. Heatwave Strains Power (Europe): A severe Europe heat wave is pushing grids hard, with nuclear cooling issues in France and Britain’s grid briefly calling for more power as prices spike. Oil Market Shift (Hormuz): Oil prices slid nearly 4% as Strait of Hormuz traffic resumed after an attack, easing supply fears and setting up another sharp weekly drop. Moldova Energy Security: Moldova approved emergency petroleum product stocks and signed contracts for a 400 kV Balti–Suceava line to boost Romania interconnection and resilience. Renewables Finance (Sri Lanka): ADB backed a $57.4m solar aggregation and virtual net metering plan to cut costs and modernize distribution networks. Egypt Wind Push: Egypt signed an MoU with Sany for a 2 GW wind turbine factory and a 2 GW wind farm in the North Gulf of Suez. Grid Management (Sri Lanka): Sri Lanka’s energy ministry plans to temporarily disconnect large rooftop solar systems during Poson holidays to prevent grid instability. Battery Supply Chain (China): CATL launched “CATL Mall” direct online sales to serve smaller storage integrators with low minimum orders. Ukraine War Impact (Russia): A Russian refinery suspended operations after a drone strike, raising fuel-supply concerns. India Grid Governance: India’s energy boards are increasingly seeking tech and operational expertise as renewables and digital monitoring expand.

US-Philippines Energy Reform Boost: The Millennium Challenge Corp. approved a Philippines grant to modernize energy-sector governance, cut power costs, and improve reliability, with reporting suggesting about $60m in financing. Nuclear Push in India: Adani targets 10 GW of private nuclear capacity by 2035 as India opens its civil nuclear sector to more investment, including talks on SMRs in Uttar Pradesh. Oil Market Jitters: Oil prices jumped after a cargo ship was hit near Oman, raising Strait of Hormuz risk concerns; separately, Iraq warned it could leave Opec if quotas aren’t raised. China-Iran Oil Path: Chinese state refiners are weighing a return to Iranian crude imports, but payment, insurance, and logistics remain major hurdles. Offshore Wind Revenue Pressure: Britain’s Crown Estate reported lower offshore-wind lease profits as option fees fall in a tougher market. Data Centers vs Power Bills: NorthWestern Energy proposed a large-load tariff in Montana to prevent new data centers from driving costs onto existing customers; Malaysia is also moving to penalize “phantom demand” by data centers. Grid Resilience at Home: Oregon approved wildfire mitigation rules for power firms, while BC Hydro reported a major outage in Vernon with a precautionary boil-water notice. Local Water Infrastructure: Pasco, Washington, advanced plans to replace its aging Butterfield Water Treatment Plant after a plane crash knocked out power and exposed vulnerabilities.