Gas and power
Overview
Gas and power, two integral energy sources that underpin all major economic activities, are critical for businesses, which need access to reliable market information, data and prices. This enables them to make more informed decisions relating to their exposure to gas and power sectors.
Our team of market experts provides independent and reliable price assessments, indexes, market data and in-depth analysis. Our prices and market intelligence are used by energy companies, governments, banks, regulators, exchanges and many other organisations. You can benefit from our in-depth knowledge of these markets for better decision-making.
Gas and power market coverage
Argus is a leading independent provider of market intelligence to the global energy and commodity markets. Our price assessments and market intelligence are available for all major gas and power markets across the globe. Explore our coverage most relevant to your business.
Latest gas and power news
Browse the latest market-moving news on the global gas and power industry.
Low snowpack could support Italian summer gas burn
Low snowpack could support Italian summer gas burn
London, 25 March (Argus) — Low snowpack and hydro reserves in Italy may increase demand for gas-fired plants this summer, in turn driving up power-sector gas burn on days when renewable output is weakest. Italian thermal-fired plants — mostly gas fired — accounted for 51pc of the country's generation mix in the summers of 2020-24, while run-of-river installations, pumped-storage plants and hydroelectric dams accounted for 19pc and solar, wind and other sources provided 31pc. Italian power-sector gas demand averaged 61.5mn m³/d. Italian gas-fired plants compete directly against programmable hydroelectric dams for both the day-ahead and ancillary power markets, so if overall electricity demand this summer remains steady on the year, gas-fired plants stand to gain a greater share of the generation mix than in years when hydro output was stronger. Unseasonably hot weather driving unusually high use of electric-powered air conditioning this summer would further increase scope for Italy's gas-fired plants to run. The estimated water content of snow on Italian mountains as of 8 March — the latest available data — was the lowest for that date since at least 2011 and was almost 57pc below the 2011-23 average for that time of year, according to Italian meteorological association Cima. Snowpack last year also dipped below the 2011-23 average in January-March before late-season precipitation pushed levels back above median levels in April-July. At the same time, water reserves at Italian hydroelectric dams have been well below historical averages this year. Reserves equal to 2.08TWh of power generation as of 17 March — the latest available data — were the third lowest for that date since 2015 and a full 10pc below the 10-year average for that time of year. Looking ahead, following months of predominantly dry weather punctuated by occasional bouts of heavy showers, long-term weather forecasts this week predicted slightly above-average rainfall over the rest of March and throughout April in Milan, around which much of the country's hydro capacity is located. And during that time, at least some rain was forecast to fall on all but one day, which would provide a far steadier influx of water into rivers. That said, Italian renewable generation capacity — particularly solar — is poised to continue rising in the coming months, likely boosting output from those technologies on the year in April-September and restricting demand for dispatchable gas-fired and hydroelectric dams alike. Total Italian PV solar capacity of 37.9GW at the start of March was 20pc higher on the year, suggesting potential for a proportional increase in generation of that type in April-September compared with summer 2024. Italian PV solar panels and on-site renewable installations at homes and businesses, the vast majority of which are solar-based, generated an average of 8GW each day in summer 2024, covering 26pc of all generation nationwide. By Ilenia Reale and Jeff Kuntz Gas and hydro output, hydro reserves GW, TWh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
US venue case crucial for future clean air fights
US venue case crucial for future clean air fights
New York, 24 March (Argus) — The US Supreme Court on Tuesday will hear arguments about the proper court venue for Clean Air Act lawsuits, which could be pivotal for future enforcement of federal air pollution rules. The court is considering both a case involving the Environmental Protection Agency's (EPA) rejections of small refiners' requests for hardship exemptions from a biofuel blend mandate and the agency's separate denials of state plans for addressing ozone-forming NOx emissions. Judges are not expected to decide the legality of EPA's decisions, just the proper courts for settling the disputes. But the cases are still significant: legal uncertainty to date has affected both EPA programs implicated by the Supreme Court's review and could upend enforcement of future rules if the court does not provide sufficient clarity. Federal ozone season NOx allowance prices essentially flatlined last year as participants were hesitant to trade due to risks from so many court cases. And small refinery exemptions are crucial for biofuel demand, so biofuel producers are wary of empowering more lower courts to reconsider denied exemption requests. The Clean Air Act says that EPA actions that are "nationally applicable" or otherwise based on "nationwide scope or effect" should proceed before the US Court of Appeals for the District of Columbia Circuit, while "locally or regionally applicable" actions head to regional circuit courts instead. But judges have disagreed about how to apply those criteria, since many EPA rules have far-reaching effects but on their face target individual states or facilities. Regulated industry fears that EPA could say a broad set of regulations have nationwide scope, centralizing review in the DC Circuit, which is seen as friendlier to federal regulators and where a majority of judges are Democratic appointees. Local conditions — such as a small refinery in Indiana serving local farmers that cannot handle higher biodiesel blends — get short-changed when various companies' concerns are assembled together, they argue. But EPA under the prior administration and Democratic-led states argue that sending these cases to the DC Circuit, which is more experienced with the complexities of federal rulemaking, makes more sense than letting industry seek out favorable jurisdictions. And they highlight the possibility of courts leaving emitters in one part of the country with laxer rules. "The fundamental risk is that you'll end up with decisions on the same point of law coming out differently in different places — and not an expedient way to resolve that," said Brian Bunger, a Holland & Knight partner and the former chief counsel at the Bay Area Air Quality Management District. For instance, both the DC Circuit and the conservative-leaning 5th Circuit agreed that EPA erred when it denied some refiners exemptions from biofuel blend mandates — but they said so for slightly distinct reasons. The 5th Circuit, for instance, went further by saying refiners reasonably relied on past EPA practice and thus the agency incorporating new analysis into its review of waiver requests was unfair. As a result, EPA recently used different criteria when weighing a waiver request from one refiner in the 5th Circuit's jurisdiction than it used for another refiner, according to partially redacted decisions obtained by Argus through a Freedom of Information Act request. The agency said it could not consider at all whether CVR Energy's 75,000 b/d refinery in Wynnewood, Oklahoma, is able to pass on the costs of program compliance to consumers because of the 5th Circuit decision but could weigh such information when deciding a similar petition from Calumet's 15,000 b/d refinery in Great Falls, Montana. The agency issued those decisions in the waning days of former-president Joe Biden's term. While President Donald Trump has pledged a vastly different approach to environmental regulation, his administration for now has not signaled a different stance than the Biden administration on whether these types of disputes should proceed before the DC Circuit. Schrodinger's case It is still unclear whether the judges view the cases as a tricky technical dispute or part of a broader trend of federal agencies overstepping their authority. Tuesday's hearing could provide clues. Of the court's nine justices, four previously served on the DC Circuit and could see value in sending more complex regulatory cases to the expert court, Bunger said. But the court's conservative majority could also be wary of giving EPA too much authority to set venue. Refiners argue that the agency repackaged dozens of individual exemption denials into two larger regulatory actions as a strategy to get the cases before a friendlier court. The Supreme Court has looked skeptically at other EPA rulings and last year overturned a decades-old legal principle that gave agencies leeway when interpreting ambiguous laws. Final Supreme Court decisions usually arrive by late June. However the court rules, businesses say that it should provide a clear enough explanation to prevent similar venue disputes from reemerging. The US Chamber of Commerce told the court it takes no position beyond urging the court to "adopt an interpretation that provides clarity and predictability to all stakeholders." By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
EU readies tweak for CO2 car standards
EU readies tweak for CO2 car standards
Brussels, 24 March (Argus) — The European Commission is expected to approve this week a legal proposal which would increase flexibility for compliance with CO2 standards for cars and vans. The commission is expected to adopt, by written procedure, a legal proposal on 25 March, targeting additional flexibilities around penalties for cars and vans to meet CO2 emissions performance standards. The proposal is expected to enable compliance with CO2 targets to be calculated over a three-year period , rather than for single years. EU leaders last week called for the legal proposal to be put forward "without delay". EU leaders have also called on the commission to "take forward the review" foreseen in the CO2 for cars regulation. Industry has urged the EU to allow for low carbon and zero emission fuels to be accounted for under the CO2 standards. Separately, further delay to the EU's official emissions reduction goal for 2040 appears likely. The commission does not currently have a "concrete date" to give on the GHG proposal for 2040 but it "does not seem" to be scheduled for presentation this week. The official work program for the commission had listed the 2040 GHG target, an update to the European Climate Law, in the first quarter of 2025. The delay to the EU's 2040 GHG proposal further impacts presentation of an updated EU climate plan — known as a nationally determined contribution (NDC) — which will cover the timeframe up to 2035. The commission said several parties have already missed the 10 February deadline for submission of updated NDCs to UN climate body the UNFCCC. By Dafydd ab Iago Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Estonian climate ministry to push for EU ETS 2 repeal
Estonian climate ministry to push for EU ETS 2 repeal
London, 24 March (Argus) — Estonia's parliament has granted the country's climate ministry a mandate to push for the repeal or postponement of the EU's second emissions trading system (ETS 2) covering road transport and buildings, scheduled to launch in 2027. The Estonian parliament's EU affairs committee granted the ministry a mandate to begin consultations with the European Commission and EU member states on repealing the EU ETS 2 directive, because of the administrative burden and uncertainty posed by transposing the measure. If Estonia fails to garner sufficient support, it will join existing proposals by the Czech Republic and Poland to postpone the introduction of the new system for two years. This additional time could be used to find a way to limit the burden of imposing the measure, the committee said. These proposals would require a qualified majority of EU member states to pass. If not adopted, Estonia's climate ministry would instead start negotiations to postpone the launch of the system to 2028 or exclude road transport from its scope. The committee approved the mandate — which followed positions submitted by the government and subsequent amendments and opinions by the parliament's environment and economic affairs committees — "after a long and heated political debate", its chairman Peeter Tali said. The commission last year adopted a supply cap of 1.036bn carbon allowances in 2027 for the new system, which will cover upstream emissions from fuel combustion in buildings, road transport and small industry not covered by the existing EU ETS. For the first three years of operation, the system will have a price cap of €45/t of CO2 equivalent, adjusted for inflation, which if surpassed for a period of two months would trigger the release of 20mn allowances from its market stability reserve. By Victoria Hatherick Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.
Spotlight content
Browse the latest thought leadership produced by our global team of experts.
Explore our gas and power products
Both the natural gas and power services have a long track record of providing well researched pricing, high quality analysis and market intelligence to our clients.
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
