Energy Evolution

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Rising prices, rising capex: what's ahead for the US power sector in 2026 Dec 30, 2025

Show notes

US power prices are climbing, pushing utilities to the forefront of a national debate over the cost of living. Demand for electricity is growing, and is set to accelerate as tech companies race to build massive data centers to support AI and other technologies. These trends have power providers, regulators and grid operators scrambling to accommodate and prepare.

So what can we see expect to see in the US power and utility sector in 2026? In this episode, Dan Testa speaks with Travis Miller, a senior financial analyst at Morningstar Securities Research, and Sam Huntington, research director on the North American power team for S&P Global Energy CERA, to get their perspectives.

The discussion digs into the factors driving power prices, utility capital expenditure plans topping $1 trillion, the outlook for renewable power and gas plants in key markets, and how AI is drawing a different kind of investor to utility stocks.

The race to rebuild the US power grid in the age of AI Dec 16, 2025

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In this episode of Energy Evolution, host Eklavya Gupte explores the seismic shift transforming America's electricity landscape as artificial intelligence drives unprecedented power demand after years of flat growth.

The discussion features Benjamin Levitt, associate director of research and analysis for gas power and energy futures, and Christopher Wilfong, director of North America power and renewables consulting, both at S&P Global Energy CERA. They talk about the infrastructure challenges facing the power sector while addressing concerns about grid reliability, impact on electricity prices and the potential for an AI bubble reminiscent of the dot-com era.

Eklavya also speaks with Tom Falcone, CEO of the Large Public Power Council, who reveals how utilities handle gigawatt-scale requests from tech giants and explains the critical challenge of ensuring rapid load growth doesn't compromise affordability for existing customers.

The conversations examine how utilities, caught off guard by the AI boom, are grappling with the stark reality of needing to double grid capacity in some regions within a decade, while navigating supply chain bottlenecks, permitting delays, and the critical question of who pays for this massive infrastructure expansion.

How weather analytics is powering modern energy trading Dec 09, 2025

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In this episode of Energy Evolution, host Eklavya Gupte explores how energy traders are turning to sophisticated weather analytics for a competitive edge.

From weather derivatives to advanced AI-enhanced weather models, these tools are becoming more sophisticated by the day.

The discussion features insights from two of Munich Re's weather derivatives specialists, Theresa Kammel and Pierre Buisson, who shed light on how the energy industry is increasingly using this market to hedge against weather-related financial risks, especially in the renewables space.

Eklavya also speaks with Sean Kelly, CEO of energy forecasting company Amperon, about how AI is transforming weather analytics and reshaping how traders anticipate electricity demand, renewable generation and power prices.

Breaking down the hydrogen hype Dec 02, 2025

Show notes

The European hydrogen industry has experienced a turbulent 2025, with project delays and cancellations dominating the headlines. But the data tells a more nuanced story, with large volumes of projects starting construction. In this episode, senior energy transition reporter James Burgess speaks to Christian Stuckmann, Uniper’s head of hydrogen business development, and Shell president for hydrogen Andy Beard to discuss the complexities of the nascent energy transition sector. They examine the challenges facing the industry and explain how they have been able to progress projects despite headwinds from policy delays and demand uncertainty, with the refining industry emerging as a leader in the green hydrogen space.

Nuclear power enjoys growing interest, but can it deliver? Nov 18, 2025

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Nuclear power is back in vogue, with shuttered reactors being restarted, existing plants having their operating lives extended and a growing market of new companies racing to build advanced reactor designs. But questions persist about whether the nuclear industry can execute to deliver these generation projects on schedule and on budget in an era of rapidly rising power demand.

In this episode, Dan Testa discusses these trends with Platts reporter Abbie Bennett and Bill Freebairn, Platts associate director of price reporting for nuclear fuels. Also joining the episode are Adam Stein, a nuclear analyst at the Breakthrough Institute, as well as Drew Marsh, CEO of Entergy Corp. and the new chair of the Nuclear Energy Institute.

The AI-driven gas turbine renaissance Nov 11, 2025

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The gas turbine industry has staged one of the most dramatic comebacks in recent years, fueled by artificial intelligence's insatiable appetite for power.

In this episode, host Eklavya Gupte sits down with Javier Cavada, president and CEO for EMEA at Mitsubishi Power, to examine how AI's demand for 24/7 power has created multi-year waiting times for new gas turbines.

The conversation explores the far-reaching implications of this boom: tech giants are building dedicated gas-fired plants for data centers, developing nations face turbine shortages, and manufacturers struggle to meet unprecedented demand. Cavada reveals that his company is already discussing projects for 2031-2032, highlighting the unprecedented scale of current demand.

India's race to 500 GW of renewable power by 2030 Nov 04, 2025

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India's energy transition story can be vividly seen through the lens of one of its most established utilities, Tata Power, which has shifted from a long-standing reliance on coal to become an integrated renewable energy company aiming for a 70% clean power capacity mix by 2030.

In this episode, S&P Global Commodity Insights editor Ruchira Singh interviews Tata Power CEO and managing director Praveer Sinha on India's ambitious plan to install 500 GW of non-fossil fuel-based power capacity by the end of the decade.

In a wide-ranging conversation, Sinha discusses critical infrastructure challenges — from land acquisition hurdles to transmission bottlenecks — and explains how Tata Power plans to deliver 24/7 renewable energy through integrated solar, wind, pumped hydro and battery storage solutions.

Explaining Germany's energy transition 'reality check' Oct 28, 2025

Show notes

The energy policy of Europe's largest economy, Germany, is the focus of this week's episode.

The coalition government's energy ministry recently published a monitoring report highlighting the need for a reality check on electricity demand forecasts and the implications for renewable energy expansion.

Andreas Franke, editorial lead at S&P Global Commodity Insights, and Henning Gloystein, managing director of energy, climate & resources at Eurasia Group, examine how revised projections could alter Berlin's solar and wind expansion targets, and reshape the country's path to 80% renewable power by 2030.

The conversation delves into the challenges facing German industry amid high energy costs and questions whether the country's 2045 climate targets remain realistic, given its planned reliance on gas-fired power generation.

Franke and Gloystein also discuss how this recalibrated approach signals broader challenges facing the global energy transition, and they debate whether similar "reality checks" may be needed across other European nations.

Transatlantic divide: US and EU chart different energy transition paths Oct 21, 2025

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In this episode of Energy Evolution, host Eklavya Gupte explores the growing divergence between European and US climate policies nearly a year into Donald Trump's second presidential term.

As the US pivots toward fossil fuel expansion and rolls back clean energy initiatives, Europe is recalibrating its energy transition pace amid mounting concerns about economic competitiveness and affordability.

The discussion features Laurent Ruseckas, executive director of gas, geopolitics and finance, and Coralie Laurencin, director of European gas, power and carbon policy, both at S&P Global Commodity Insights.

They examine Europe's pushback on climate regulations, implementation challenges facing the EU's methane rules and the carbon border adjustment mechanism, and how surging US LNG supplies could strengthen transatlantic energy ties.

How will the EU's new carbon market affect energy costs and inflation? Oct 14, 2025

Show notes

In this episode of Energy Evolution, host Eklavya Gupte examines the rising concerns among EU member states about the upcoming Emissions Trading System 2 (ETS2), set to launch in 2027.

Worries are growing that ETS2 -- encompassing road transport, buildings, and small businesses -- could lead to substantial increases in energy prices, highlighting the complex interplay between ambitious climate objectives and economic realities.

Eklavya also interviews Jason Ying, Commodity Desk Strategist at BNP Paribas, who provides insights into how this new carbon market may influence inflation rates and residential gas prices across the EU.

Links:

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