2025-10-30 12:17

Stronger profit at fuel trading unit also contributes to upgrade Considering payout ratio of 25-35% from fiscal 2026 TEPCO posts largest first-half loss TOKYO, Oct 30 (Reuters) - Japan's top nuclear power operator, Kansai Electric Power (9503.T) , opens new tab, on Thursday lifted its annual profit forecast by 22% on higher electricity demand and stronger-than-expected earnings at its fuel trading unit. For the current fiscal year to end-March 2026, net profit is now seen at 360 billion yen ($2.4 billion), up from 295 billion. Sign up here. The upgrade is driven by KE Fuel Trading Singapore, which mainly trades liquefied natural gas, Hironori Kakiguchi, Kansai's accounting and finance general manager, told reporters. Kansai, in which U.S. activist investor Elliott has recently become a large minority shareholder, also increased its full-year dividend forecast to 75 yen per share from the previously expected 60 yen. Kakiguchi said it is considering introducing a consolidated payout ratio target of 25-35% and an around mid-30% equity ratio target beginning in the next fiscal year. The company declined to comment on discussions with any individual shareholders, including Elliott. For the six months to end-September, Kansai Electric posted net profit of 233 billion yen, in line with a year earlier. In contrast, Tokyo Electric Power Company Holdings (TEPCO) (9501.T) , opens new tab, which is still paying compensation after the 2011 Fukushima nuclear disaster, reported its largest first-half net loss since adopting consolidated accounting in fiscal 2020, at 712.4 billion yen. "We want to get cash flow back into the black as soon as possible by restarting the No.6 unit of the Kashiwazaki-Kariwa nuclear power plant and cutting costs," Hiroyuki Yamaguchi, TEPCO's representative executive vice president, said on Thursday. He gave no timeline for restarting the reactor as discussions continue with the governor of Niigata where the plant is located. This month, TEPCO informed the prefecture it would contribute 100 billion yen and consider decommissioning No.1 and No.2 units at Kashiwazaki-Kariwa. ($1 = 150.7800 yen) https://www.reuters.com/business/energy/japans-kansai-elec-ups-fy-profit-forecast-electricity-demand-grows-2025-10-30/

2025-10-30 12:16

Oct 30 - U.S. Midwest electric utility DTE Energy (DTE.N) , opens new tab on Thursday raised its five-year capital investment plan by $6.5 billion to $36.5 billion, driven by growing electricity demand from data centers and work to modernize its power infrastructure. U.S power demand hit records in 2025 and is expected to accelerate as Big Tech ramps up electricity use at its quickly-proliferating data centers, some of which require a city-sized amount of electricity at a single site. Sign up here. DTE, which is headquartered in Michigan, reached its first agreement with a data center customer for 1.4 gigawatts of energy capacity, DTE executives said on an a call with investors. DTE did not name the customer, but said it was a hyperscaler, which typically includes Big Tech. The project will ramp up over the next two to three years. The company is in discussions with hyperscalers for another 6-7 gigawatts of data centers. DTE also reported third-quarter profit that beat Wall Street expectations, helped by higher income from its electric segment. The utility said its revised investment plan reflects the company's push to expand clean energy generation and strengthen grid reliability. DTE's new plan includes $30 billion for its electric business, $4.5 billion for its gas segment and about $2 billion for its DTE Vantage unit. It said the spending could rise as negotiations advance on more data center projects. The company reaffirmed its 2025 operating earnings forecast of $7.09 to $7.23 per share and provided 2026 outlook of $7.59 to $7.73 per share. The Detroit, Michigan-based company reported an operating profit of $2.25 per share for the three months ended September 30, compared with analyst's estimate of $2.11 per share, according to data compiled by LSEG. https://www.reuters.com/business/energy/dte-energy-adds-65-billion-five-year-spending-plan-data-center-power-demand-2025-10-30/

2025-10-30 11:55

Oct 30 (Reuters) - Indian firm Megha Engineering & Infrastructures said on Thursday it has bought a thermal power plant in the southern state of Tamil Nadu from Abu Dhabi's TAQA (TAQA.AD) , opens new tab to expand its power generation portfolio. The deal entails MEIL Energy, an unit of Megha, to take control of TAQA Neyveli Power Company, which owns the coal plant. Sign up here. The 250 MW lignite-based power plant has a long-term power offtake commitment with the state discom and has a well-established track record of delivering reliable and efficient power to meet the state's growing energy demands, MEIL said. Hyderabad-based Megha Engineering was established in 1989 and has more than 5.2 GW of power generation assets in its portfolio. https://www.reuters.com/business/energy/indian-firm-meghas-unit-buys-coal-plant-abu-dhabis-taqa-2025-10-30/

2025-10-30 11:49

COPENHAGEN, Oct 30 (Reuters) - Danish shipping company Maersk (MAERSKb.CO) , opens new tab said on Thursday its APM Terminals unit may invest around $2 billion in the Pipavav Port in western India. Maersk said in a statement it had signed a memorandum of understanding with the Gujarat Maritime Board on increasing capacity at the port. Sign up here. "Subject to a long-term concession agreement with Indian authorities, the expansion will significantly enhance the port's capacity and capabilities," it said. Maersk said it had also signed memorandums of understanding with several shipyards on exploring deeper cooperation. "India possesses significant infrastructure capabilities that Maersk wishes to capitalise on," it said. https://www.reuters.com/business/maersks-apm-terminals-plans-2-billion-investment-india-2025-10-30/

2025-10-30 11:36

Oct 30 (Reuters) - U.S. utility Xcel Energy (XEL.O) , opens new tab missed third-quarter profit estimates on Thursday, hurt by higher interest charges as well as operating and maintenance expenses. Higher-for-longer interest rates can put pressure on utilities by raising the cost for constructing and maintaining infrastructure such as electrical grids. Sign up here. Minneapolis, Minnesota-based Xcel's total interest charges rose to $384 million in the three months ended September 30, up from $326 million a year earlier. In addition, its quarterly operating and maintenance expenses rose 5.6% to $692 million. The utility has ramped up its capital investment plan to $60 billion for the next five years to cater to increased power demand and make required investments to strengthen its transmission and distribution systems. Utilities have been adding billions of dollars to their capital expenditure budgets as they field massive requests for new power capacity from data centers, which aim to support complex AI-related tasks. Xcel said in September it had reached settlement agreements to resolve all claims related to the 2021 Marshall Fire in Colorado. Its unit, Public Service Company of Colorado, is expected to pay roughly $640 million as part of these agreements, while $350 million will be funded by remaining insurance coverage, the company added. Xcel provides electric services to about 3.9 million customers and natural gas services to 2.2 million customers across eight Western and Midwestern states. Quarterly operating revenue at its electric segment rose 7.2% to $3.64 billion, while that at its natural gas division climbed to $264 million from $239 million a year ago. Xcel also initiated 2026 adjusted earnings in the range of $4.04 to $4.16 per share, the midpoint of which is less than analysts' average estimate of $4.12 apiece, according to data compiled by LSEG. The company's third-quarter profit came in at $1.24 per share on an adjusted basis, missing estimates of $1.32 per share. https://www.reuters.com/business/energy/xcel-energy-misses-quarterly-profit-estimates-higher-interest-charges-expenses-2025-10-30/

2025-10-30 11:35

Oct 30 (Reuters) - U.S. Treasury Secretary Scott Bessent on Thursday said that the U.S. would enact a one-year suspension of Entity List restrictions that make it harder for Chinese firms to use affiliates to buy off-limits technology. The moratorium comes after President Donald Trump and Chinese leader Xi Jinping were able to discuss big picture issues with great respect at their meeting earlier in the day in South Korea, Bessent said in an interview on Fox Business Network. Sign up here. https://www.reuters.com/world/china/us-halt-entity-restrictions-one-year-after-trump-xi-meeting-bessent-says-2025-10-30/