Category: 3. Business

“Electricity consumption is high and we are still exporting – that’s a new thing during a time of peak consumption,” said the CEO of Finnish Energy.

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Finland’s electricity production set a new record on Saturday evening, according to Jukka Leskelä, Managing Director of the industry group Finnish Energy. In a social media post, he said that generation reached 15,438 megawatts (MW) between 6 and 6:15pm.

According to Leskelä, brisk winds have boosted electricity production even though the demand for electricity is near the all-time due to severe cold through most of the country.

“Electricity consumption is high and we are still exporting – [that’s] a new thing during a time of peak consumption,” Leskelä wrote.

According to the transmission grid company Fingrid, Finland reached its all-time electricity consumption record this week, as usage spiked to 15,553 MW on Thursday evening – just before the country registered its coldest temperature for this winter: -42.8 degrees Celsius.

Fingrid suggested that while demand was driven up by the freezing temperatures, moderate electricity prices also contributed to the record as consumers did not hold back on consumption for fear of high utility bills.

On Sunday afternoon, Finland narrowly remained a net exporter of electricity, according to Fingrid, with production and consumption both around 13,000. The average spot price remained moderate at about 11.80 cents per kilowatt-hour.

Two years ago, the country briefly recorded its highest-ever spot price of 2.35 euros per kilowatt-hour on 5 January 2024.

Last year, consumers in Finland enjoyed the third-cheapest electricity in Europe.

In the first nine months of last year, total electricity consumption in Finland rose by one percent from the corresponding period of 2024. However, overall energy consumption in January to September fell by the same margin, with consumption of fossil fuels and peat dropping by nine percent.

Last year, close to half of all energy consumption was provided by renewable energy sources.

In 2025, just over 1,000 megawatts (MW) of new wind power capacity was installed, increasing the total capacity to almost 9,500 MW. Meanwhile industrial solar power capacity more than doubled to 352 MW.

In 2024, 95 percent of Finland’s electricity production was based on fossil-free energy, according to Statistics Finland. Wind power overtook hydropower as the second biggest mode of electricity production, covering 37 percent of consumption – just behind nuclear power’s 38 percent.

AstraZeneca reported positive results from a Phase III TULIP-SC clinical trial, showing a statistically significant and clinically meaningful reduction in disease activity with the subcutaneous (SC), self-administration of Saphnelo (anifrolumab) in adults with systemic lupus erythematosus (SLE). The safety profile observed with SC Saphnelo was consistent with the known clinical profile of Saphnelo administered as an intravenous infusion.

In the 52-week study, 56.2% of study participants receiving Saphnelo experienced a significant reduction in lupus disease activity at week 52 compared to 37.1% of participants who received the placebo. Results were measured by the British Isles Lupus Assessment Group-based Composite Lupus Assessment (BICLA). In pre-specified secondary and exploratory endpoints, 29.0% of participants taking Saphnelo achieved remission and 40.1% achieved low disease activity by week 52. SC Saphnelo was well tolerated, with the frequency of overall adverse events balanced between the Saphnelo and placebo groups, SC Saphnelo is approved in the European Union and is under regulatory review in other countries, including the United States and Japan.

Continue to follow the Lupus Foundation of America for updates on lupus drug developments. Learn more about Saphnelo.

Read the announcement

The Swiss government’s proposal to impose a new tax on electric vehicles by 2030 is causing an uproar. The political parties, the Transport and Environment Association and the Touring Club of Switzerland (TCS) are all calling for changes or to reject the proposal.

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The consultation period on the proposed tax ended on Friday. The government is proposing two alternatives. One is to tax the number of kilometres travelled, taking into account the weight of the vehicle. The other involves a tax on the electricity used, irrespective of the type of vehicle.

The right-wing Swiss People’s Party rejects the proposal outright, and is particularly opposed to taxing motorists to the benefit of public finances.

+ Electric car sales slowing down in Switzerland

The centre-right Radical-Liberals propose that the government apply an alternative transitional solution and work towards a viable and fair reform of the taxation of electric vehicles in the long term.

The centre-left Liberal Greens reject the tax, while the left-wing Green Party welcomes it.

The Transport and Environment Association wants such a tax to come into force in 2035 at the earliest. Finally, the TCS is calling for a gradual approach.

Translated from French with AI/gw

Oslo/Cairo, 11 January 2026: Scatec ASA, a leading renewable energy solutions provider, has signed a Power Purchase Agreement (PPA) with the Egyptian Electricity Transmission Company (EETC) for a total capacity of 1.95 GW Solar and 3.9 GWh Battery Energy Storage Systems (BESS) in Egypt.

Under the agreement Scatec will deliver one integrated Solar and BESS hybrid system designed to deliver continuous, around-the-clock renewable baseload power. In addition, Scatec will develop two standalone BESS projects aimed at providing essential grid stability and support services. The combined capacity will be the largest solar and BESS installation in Africa and the largest investment in Scatec’s history.

“Signing this groundbreaking PPA further cements Scatec’s leading position and commitment to delivering reliable, renewable energy at a large scale in Africa. By integrating advanced solar and battery technologies, we are providing Egypt with sustainable, around-the-clock power and grid stabilising services, supporting both the country’s energy transition and the region’s long-term economic development,” says Scatec CEO Terje Pilskog.

Scatec will be compensated under a 25-year, USD-denominated pay-as-produced Power Purchase Agreement (PPA), linked to the electricity generated by the hybrid system. The plant is expected to deliver approximately 6,000 GWh of renewable energy annually.

Scatec will provide Engineering, Procurement and Construction (EPC), Asset Management (AM) and Operations & Maintenance (O&M) services for the projects. By leveraging its proven expertise from similar large-scale hybrid and BESS projects, Scatec will ensure efficient delivery and management through all phases of the project.

Scatec is the lead developer of the projects and will invite additional equity partners. Further details on capital expenditure, EPC scope and financing structure will be disclosed at financial close, which is expected in the second half of 2026.

For further information, please contact:
For analysts and investors:
Andreas Austrell, SVP IR
andreas.austrell@scatec.com
+47 974 38 686

For media:
Meera Bhatia, SVP External Affairs & Communications
meera.bhatia@scatec.com
+47 468 44 959

About Scatec 

Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Created on January 11, 2026

The rebellion in Iran is firmly within its second week as it continues to unfold. The Venezuelan leadership crisis remains unclear. And the price of WTI Crude Oil is above 58.000 USD rather comfortably.

The price of WTI Crude Oil closed around $58.435 on Friday and will offer day traders plenty of speculative spice when the markets open tomorrow. News from Iran continues to roil and the implications regarding its energy supply are complex if the Iranian regime actually falters. However, supply of oil the world over is healthy and is not going to suddenly evaporate. Oil from producers around the globe are pumping plenty of supply.

Since the 15th of December the 56.000 USD mark has seen a lot of price action as a magnet for lower momentum, the price of WTI Crude Oil has gone below this lever too over the past few weeks, and did so again last week. Even on Thursday the 8th of January the price of WTI Crude Oil went below 56.000 USD. With the normalization of volume returning to the Crude Oil sector via trading as the Christmas and New Year’s holidays appear in the rear view mirror, speculators will have better liquidity to judge technical moves.

Thursday’s price action did see a surge higher however that likely caused some raised eyebrows, as the 56.000 juncture suddenly disappeared and WTI Crude Oil quickly broke north of 58.500 USD. Intriguingly for technical traders is the perception that Friday’s trading sustained the 58.000 mark, and closed out the week’s speculative action within sight of the highs for the week which were hit on Friday around the 59.600 ratio. But this might also be a warning, because WTI Crude Oil was selling off as it went into the weekend.

There will be a lot of noise this coming week regarding what Venezuela and Iran’s developing news means for the oil sector. But one of the things it most likely means, is that the price of WTI Crude Oil isn’t about to jump wildly upwards.

• The ability of WTI Crude Oil to go into this weekend with a price that is within the upper tier of its one month chart, must be balanced with the acknowledgement the commodity has been traversing lower the past few months steadily.
• Perhaps day traders may feel there is room for upwards momentum and a retest of the 60.000 level.
• But Thursday’s lows pushed towards the 56.000 USD ratio and beneath again, this as a reminder for overly ambitious bullish speculators to be careful.

Full market action will be seen this week in WTI Crude Oil. There is a lot of noise in the energy sector currently because of rumors swirling due to Venezuela and Iran. Day traders need to be cautious. The rise in prices last week also saw retests of lows which have been persistent.

A trader looking for lower price action cannot be blamed for actually thinking WTI Crude Oil may be able to track incrementally lower again. However large players in the commodity have a lot of considerations regarding outlook as they look ahead a few months. Choppy results may be a highlight over the coming week as traders try to balance their insights, along with their concerns. Unknowns are aplenty, and the fact that WTI Crude Oil has been exploring lower values for a few months should be remembered.

Ready to trade our weekly forecast? Here are the best Oil trading brokers to choose from.

11 January 2026

A preliminary study at Teagasc Moorepark aimed to evaluate the performance of virtual fence collars on a herd of cows grazing in paddocks with multiple daily grass allocations. Read about the study here.

Virtual fencing enables animal containment within, or exclusion from, land areas without physical fences by conditioning animals to a virtual boundary delimited with an audio cue and an electric pulse.

The technology typically comprises a mobile phone application through which the user maps the virtual boundary, and a neck collar device on the animal which produces an audio cue when the animal approaches the boundary.

If the animal breaches the boundary, it receives an electric pulse from the collar. This signal pattern engages the associative learning capabilities of the animal so that they can avoid receiving an electrical pulse by learning to stop or turn away from the virtual boundary when the audio cue is emitted.

This technology has been highlighted in recent research as a benefit to the operation of farming systems, from farmer, animal and production perspectives, as well as representing an innovative solution for protecting and re-vitalising special conservation areas.

Studies in Australia, Tasmania and Germany have examined virtual fencing in recent years and have reported positive findings with regard to animal containment, learning, behaviour, welfare and performance. The technology was also found to be successful at remotely herding dairy cows to the milking parlour.

Virtual fencing opens up new opportunities in reducing the labour-intensive task of fencing, allowing remote animal monitoring and control of forage availability on pasture.

The technology can increase the flexibility of the interaction of herd and pasture management; it can prevent over-grazing or allow time limited access to a specific herbage, e.g. clover.

However, it is important to investigate the operation of this technology within a conventional dairy herd in Irish pasture-based systems. This preliminary study aimed to evaluate the performance of virtual fence collars on a herd of cows grazing in paddocks with multiple daily grass allocations (three per day, increasing the challenge of containing the herd within smaller areas), compared to a herd managed with a conventional electric fence receiving a single daily grazing allocation.

The study

One hundred and sixty-eight spring-calved Holstein-Friesian dairy cows were assembled. Cows were on average 154 days in milk at the commencement of the experiment. Animals were balanced for calving date, milk yield, parity and bodyweight, blocked into groups of two and randomly assigned to one of two treatments.

Cows in Treatments 1 and 2 were managed by a conventional electric fence and by virtual fence collars (Norwegian company, Nofence), respectively. Cows in Treatment 1 had 22-h (full-time) access to pasture (24 h minus 2 h for morning and evening milkings) with an allocation of 18 kg DM/cow per day.

Treatment 2 cows received the equivalent grass allocation over 22 h (but with this allocation given in three portions over the 22 h. Forty five percent of the 22 h allocation was given over the 4 h period (08:00 – 12:00) after morning milking; the next 10 % was given over the 3 h period (12:00 – 15:00) until evening milking; and the remaining 45 % was given over the 15 h period (16:00 – 07:00) until the following morning milking.

Training of the cows to the collar equipment took place prior to the experimental period. Nofence collars were switched off during milking. Treatments were imposed over four weeks from 22nd July. All audio cues and electric pulses emitted to cows were recorded. Grass measurements were carried out daily, and milk yield and composition were also recorded daily.

Results from the Virtual Fencing study

Virtual fence data, grass measurements and milk yield and composition data from cow herds with and without virtual fence collars is shown in Table 1. Average number of audio cues/cow per day and average number of electric pulses/cow per day were in line with those observed in other studies. The audio cues outnumbered electrical stimuli, indicating cows generally responded to the benign audio cues alone and avoided receiving electric pulses.

Pre-grazing pasture biomass and post-grazing height were similar for the two treatments. Likewise, milk yield/cow per day and milk solids yield/cow per day were similar for the treatments.

Table 1: Virtual fence data (audio cues and electric pulses), grass measurements and milk yield and composition data from cow herds with and without virtual fence collars and receiving one or three grazing allocations per day

	Treatment 11	Treatment 21
Average number of audio cues/cow per day	–	(Week 1: 7.3)(Week 4: 10.9)
Average number of electric pulses/cow/day	–	(Week 1: 0.3)(Week 4: 0.3)
Pre-grazing herbage mass (kg DM/ha)	1,344	1,308
Post-grazing sward height (mm)	50	52
Milk yield/cow per day (kg)	16.7	16.6
Milk solids/cow per day (kg)	1.55	1.50

¹ Treatment 1: herd managed with a conventional electric fence and receiving one grass allocation per day; Treatment 2; cows wearing virtual fence collars and receiving three grass allocations per day

Conclusion

This preliminary study on virtual fencing showed that the virtual fence retained cows in the areas specified without apparent negative implications for cow behaviour or welfare. But further work is required to interpret the potential for, and implications of, combining grass measurements with virtual fence collar data to create a decision support tool that could optimise grassland management and grazing efficiency while optimising animal performance and welfare, with minimum labour requirement.

Acknowledgements

Appreciation is extended to placement students who contributed towards conducting grass measurements, providing grass allocations and cow behaviour data collection. The authors also acknowledge receipt of funding to carry out this research work.

The above was authored by Bernadette O’Brien, Ilan Halachmi, Violet Ryan and Ricki Fitzgerald and published in the Moorepark 2025 Open Day proceedings (PDF).

NEW YORK (Reuters) – Oil prices rose 2% on the last working day of the week on Friday on growing supply worries linked to intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war in Ukraine.

Brent futures settled $1.35, or 2.18%, higher to $63.34 per barrel, while US West Texas Intermediate (WTI) crude was up $1.36, or 2.35%, to $59.12.

Both benchmarks climbed more than 3% a day earlier, following two straight days of declines. For the week, Brent rose about 4%, while WTI gained about 3%.

“The uprising in Iran is keeping the market on edge,” said Phil Flynn, senior analyst with the Price Futures Group.

Worries over potential disruption of Iran’s oil output grew as the civil unrest in the Middle Eastern country intensified.

“Iran protests seem to be gathering momentum, leading the market to worry about disruptions,” said Ole Hansen, head of commodity analysis at Saxo Bank.

A nationwide internet blackout was reported in Iran on Thursday as protests over economic hardships continued in the capital Tehran, the major cities of Mashhad and Isfahan as well as other areas around the country.

The Organisation of the Petroleum Exporting Countries pumped 28.40 million barrels per day last month, down 100,000 bpd from November’s revised total, a survey showed, with Iran and Venezuela posting the largest declines.

Concerns about the spread of the Russia-Ukraine war also added to supply worries.

The Russian military said on Friday it had fired its hypersonic Oreshnik missile at targets in Ukraine. The targets included energy infrastructure supporting Ukraine’s military-industrial complex, the Russian defense ministry said in a statement.

Still, global oil inventories are rising, and oversupply remains the main driver that could cap gains, Haitong Futures said. Unless risks around Iran escalate, the rebound is likely limited and hard to sustain.

Meanwhile, the White House was set to meet with oil companies and trading houses Friday afternoon to discuss Venezuelan export deals.

US President Donald Trump has demanded that Venezuela give the US full access to its oil sector following Washington’s capture of the country’s leader Nicolas Maduro on Saturday. Trump administration officials have said the US will control Venezuelan oil sales and revenue indefinitely.

Oil major Chevron Corp, global trading houses Vitol and Trafigura, and other firms are competing for US government deals to market up to 50 million barrels of oil that state-run oil company PDVSA has accumulated in inventories amid a severe oil embargo.

“The market will focus on the outcome in the coming days for how the Venezuelan oil in storage will be sold and delivered,” said Tina Teng, market strategist at Moomoo ANZ.

US oil and gas rig count, an early indicator of future output, fell by two to 544 this week, the lowest since mid-December, energy services firm Baker Hughes said in its closely followed report on Friday.

New report calls for stronger public role in building domestic supply chains and inclusive workforce.

Abu Dhabi, UAE/Geneva, Switzerland, 11 January 2026 – Despite renewable energy installations hitting a new peak, jobs in the sector only increased by 2.3% from 2023, reaching 16.6 million in 2024. The newly released Renewable Energy and Jobs – Annual Review 2025 by the International Renewable Energy Agency (IRENA) and the International Labour Organization (ILO) highlights the increasing impact of geopolitical and geoeconomic frictions, as well as growing automation, to the renewable energy workforce.

As in previous years, uneven development continues across the world. China remains the preeminent force in both deployment of generating capacities and equipment manufacturing, mainly due to its integrated, large-scale supply chains that deliver equipment at unmatched prices.

In 2024, China created an estimated 7.3 million renewable energy jobs, or 44% of the global total. The EU followed suit with the same total as in 2023 at 1.8 million jobs. Brazil’s renewables employment runs to 1.4 million, while India’s and the United States’ barely grew from around 1 million to 1.3 million and 1.1 million, respectively.

Commenting on this trend, IRENA Director-General, Francesco La Camera, said, “Renewable energy deployment is booming, but the human side of the story is as important as the technological side. Governments must put people at the centre of their energy and climate objectives through trade and industrial policies that drive investments, build domestic capacity, and develop a skilled workforce along the supply chain. The geographical imbalance of the job growth reminds us to get international collaboration back on track. Countries that are lagging behind in the energy transition must be supported by the international community. This is essential not only to meet the goal of tripling renewable power capacity by 2030, but also to ensure that socio-economic benefits become lived realities for all, helping to shore up popular support for the transition.”

In terms of employment by technology, solar photovoltaics (PV) retains the lead, owing to the continued rapid expansion of installations and panel manufacturing plants. The industry employed 7.3 million people in 2024. Asian countries hosted 75% of the world’s PV jobs with China garnering the bulk of the employment at 4.2 million.

Liquid biofuels follow after solar PV, creating 2.6 million jobs in 2024 with 46.5% of the total jobs generated in Asia. Hydropower came in third place with 2.3 million jobs, and wind follows with 1.9 million jobs.
Beyond the numbers, this edition of the annual report underscores the need for more inclusion and equity in the renewable energy workforce. A just transition demands that no population groups—such as women and people with disabilities—are left at the margins. The renewables-based energy future must be shaped by diverse talents and perspectives. To this day, both groups’ potential remains under-utilised, which calls for deliberate, multifaceted and systemic action.

ILO Director-General, Gilbert F. Houngbo highlighted that “A just transition to a renewables-based future must be grounded in inclusion, dignity, and equal opportunity. As countries scale up renewable energy investments and job creation, we have a particular responsibility to ensure that accessibility for persons with disabilities – who too often face barriers to inclusion in labour markets despite their skills, experience and talent – is built into every stage of policy design and implementation. This requires accessible training systems, inclusive hiring practices, and workplaces that accommodate, welcome and respond to diverse needs and respect every worker’s rights. Disability inclusion is not only a matter of justice; it is essential for resilient labour markets and sustainable development. By removing barriers to equality and promoting decent work, we strengthen economies and ensure that the energy transition truly works for all.”

Fostering a culture that respects diversity and upholds inclusion and fairness requires sustained, inclusive policy frameworks including accessible education and training, labour market services, and other measures. Designing and shaping such policies requires that all stakeholders have a seat at the table, especially those who are all too readily sidelined. Discriminatory practices and outdated social and cultural norms must be left in the past for the energy transition to truly drive more successful economies for all members of the community.

This 12th edition of the Annual Review is part of IRENA’s extensive analytical work on the socio-economic impacts of a renewables-based energy transition. This is the 5th edition developed in collaboration with ILO. Building on its expertise on the world of work, the ILO contributed the report’s chapter on inclusion of people with disabilities.

Read the full report here.