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As Germany heads for February 23 elections the grey winter weather has become a hot campaign topic because of its impact on the country's shaky green energy transition. Twice in recent months electricity prices temporarily spiked in Europe's top economy because of a lack of both sunlight and wind to power its solar panels and turbines. The phenomenon -- dubbed a "dark lull" -- briefly sent the price soaring to 936 euros ($972) per megawatt hour on December 12, twelve times the average for the preceding weeks. Conservative opposition leader Friedrich Merz, whose CSU/CDU is widely expected to win the elections, seized on the issue to attack centre-left Chancellor Olaf Scholz. In Europe's interconnected energy market, Merz told Scholz that "your energy policies are setting teeth on edge across the European Union, which is very angry with Germany". The comment was rejected by the Greens, who have long been the political driving force behind Germany's transition away from fossil fuel and nuclear power and toward clean renewables. The Greens' Vice Chancellor and Economy Minister Robert Habeck hit back that previous CDU/CSU-led governments under Angela Merkel had been "blind" to Germany's energy challenges. To help fight climate change, Germany has pledged to phase out fossil fuels and reduce greenhouse gas emissions by 55 percent by 2030 from 1990 levels, and become carbon-neutral by mid-century. The recent price spikes prompted some of Germany's most energy-intensive firms to temporarily limit or even halt production. In the December 12 incident, Germany bought electricity at the European Energy Exchange in Leipzig, causing a spike in prices in neighboring countries. Meanwhile the German energy sector is ringing alarm bells. Markus Kreber, head of the biggest energy supplier RWE, said the recent dips in renewable supply "would not have been manageable on another day with a higher peak load, for example in January". He warned that the system is currently operating "at its limits". The situation after the most recent dip soon stabilized as renewables production picked up again, and households and most businesses remain shielded from day-to-day price fluctuations by fixed tariffs. The Scholz government defended the green energy transition despite the occasional "temporary phenomenon" of a dark lull that can drive up prices on the spot market. "There are phases in which the sun shines a lot, the wind blows a lot, and electricity is produced very cheaply in Germany, which is then gladly exported and supplies our neighboring countries with electricity," said spokesman Steffen Hebestreit. Renewables have become an ever more important part of Germany's energy mix, accounting for an average 60 percent of its electricity production so far this year. Traditional sources of energy are being wound down, with coal power stations gradually shutting down after the last three nuclear power stations were taken off the grid last year. But many experts say the world's third biggest economy can ill afford such supply fluctuations when it's already struggling with a lack of competitiveness in other areas. Analysts say Germany needs to scale up energy storage capacity and also develop other sources of production, such as gas and hydrogen, to pick up the slack when necessary. "If the state establishes a good regulatory framework, then it should be possible to avoid shortages through investing in storage and having flexibility in supply," Georg Zachmann, energy and climate specialist at the Bruegel think tank, told AFP. However, he said there was "a big concern that the framework will not be sufficient to quickly develop" the necessary infrastructure. "It takes on average seven years to construct a wind power facility but just seven months to build a liquified natural gas terminal," said Claudia Kemfert, energy expert at the DIW institute. "It ought to be the other way around." For now, Germany faces months of political paralysis after the collapse of Scholz's three-way coalition government. The coalition's demise also means the scrapping of a key draft law for a project to build a network of gas and hydrogen power stations as part of the transition away from coal. A new government will likely take several months to emerge after February's election and then set out its own energy policy. The frontrunner Merz has already pledged to study a return to nuclear power.
The illusion of Assad’s grip on Syria shatters, as Russia, Iran and Hezbollah let their guard down
India News | PM to Inaugurate ICA Global Cooperative Conference on MondayNo. 1 South Carolina women stunned by fifth-ranked UCLA 77-62, ending Gamecocks' 43-game win streakPHILADELPHIA , Dec. 5, 2024 /PRNewswire/ -- The Board of Directors of FS Credit Opportunities Corp. (the Fund) (NYSE: FSCO) announced the monthly distribution for December 2024 . The distribution of $0.06 per share will be paid on December 31, 2024 . Further information on the distribution is summarized in the charts below. The current annualized distribution rate equates to an annualized distribution yield 1 of 10.1% and 10.6%, respectively, based on the Fund's net asset value (NAV) and market price as of November 30, 2024 . The monthly distribution has been fully covered by the Fund's net investment income throughout 2024, and the Fund has generated an estimated total return on NAV of 12.75% and 33.1% on market price year-to-date through November 30, 2024 . The Fund has approximately $2.2 billion in assets under management and invests in event-driven credit, special situations, private capital solutions and other non-traditional credit opportunities. Month Ticker Fund Name Monthly Dividend December FSCO FS Credit Opportunities Corp. $0.06 The distribution will be made on the following schedule: Month Ex-Date Record Date Payable Date December December 23, 2024 December 23, 2024 December 31, 2024 The Fund pays regular monthly cash distributions to common shareholders at a level rate that may be adjusted from time to time. The amount of monthly distributions may be affected by numerous factors, including changes in portfolio and market conditions. Shareholders should not use the information provided here in preparing their tax returns. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will tell them how to report these distributions for federal income tax purposes. Investors should consider, among other things, the investment objectives, risks, charges and expenses of the Fund carefully before investing. Investors can find the Fund's most recent reports and other filings on the Securities and Exchange Commission's EDGAR Database or on the Fund's website ( https://fsinvestments.com/fs-credit-opportunities-corp/ ). About FS Investments FS Investments is a global alternative asset manager dedicated to delivering superior performance and innovative investment and capital solutions. The firm manages over $82 billion in assets for a wide range of clients, including institutional investors, financial professionals and individual investors. FS Investments provides access to a broad suite of alternative asset classes and strategies through its best-in-class investment teams and partners. With its diversified platform and flexible capital solutions, the firm is a valued partner to general partners, asset owners and portfolio companies. FS Investments is grounded in its high-performance culture and guided by its commitment to building value for its clients, investing in its colleagues and giving back to its communities. The firm has more than 500 employees across offices in the U.S., Europe and Asia and is headquartered in Philadelphia. Contact Information: Investor Relations Joe Montelione joseph.montelione@fsinvestments.com Media Sarah Hilferty media@fsinvestments.com Forward Looking Statements Statements included herein may constitute "forward-looking" statements as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to future events or the future performance or operations of the Fund. Words such as "intends," "will," "expects," and "may" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, geopolitical risks, risks associated with possible disruption to the Fund's operations or the economy generally due to hostilities, terrorism, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in the Fund's operating area, unexpected costs, the price at which the Fund's shares of common stock may trade on the New York Stock Exchange and such other factors that are disclosed in the Fund's filings with the Securities and Exchange Commission. The inclusion of forward-looking statements should not be regarded as a representation that any plans, estimates or expectations will be achieved. Any forward-looking statements speak only as of the date of this communication. Except as required by federal securities laws, the Fund undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements. 1 Annualized distribution yield reflects the current month's distribution per share annualized and divided by the estimated current month end net asset value (NAV) per share or market price per share; because annualized distribution yield is based on estimated current month end NAV, it is an estimate that is subject to change. View original content to download multimedia: https://www.prnewswire.com/news-releases/fs-credit-opportunities-corp-fsco-declares-distribution-for-december-2024-302324322.html SOURCE FS InvestmentsThe LSU Tigers (7-4) and the Oklahoma Sooners (6-5) square off on Saturday, November 30, 2024 at Tiger Stadium in a battle of SEC opponents. What channel is LSU vs. Oklahoma on? What time is LSU vs. Oklahoma? LSU and Oklahoma play at 7 p.m. ET. LSU vs. Oklahoma betting odds, lines, spread Odds courtesy of BetMGM LSU schedule Oklahoma schedule This content was created for Gannett using technology provided by Data Skrive.
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