Energy Update

Platts Ross McCracken takes a look at OPEC’s spare crude production capacity. Much has been made recently of the US’ new spare capacity, but OPEC’s role has also shifted, as he explains.

China is considering cutting the preferential rate it offers wind and solar power developers because the surcharges slapped onto electricity bills to pay for clean energy subsidies aren’t high enough.

RWE AG will build a 336 MW wind farm off the east coast of England after teaming up with the U.K. Green Investment Bank, Siemens Financial Services and Macquarie Capital on the 1.5 billion-pound ($2.3 billion) project.

BEIJING, Nov 2 (Reuters) - China and France agreed on Monday to push for long-term monitoring of a U.N. accord to combat climate change due in Paris next month by reviewing cuts in greenhouse gas emissions every five years.