Energy Update

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ABOARD AIR FORCE ONE, Aug 27 (Reuters) - The White House said on Thursday that the U.S. State Department continues to review TransCanada Corp's proposed Keystone XL pipeline from Canada's oil sands to Gulf Coast refineries.

* Monsanto says not seeking EU approval to grow other GM crops

TORONTO, Aug 27 (Reuters) - Freeport-McMoran Inc said on Thursday it will slash its mining capital budget by 25 percent next year and cut 10 percent of its U.S. mine staff, as the diversified miner and energy producer attempts to weather an ongoing slump in copper prices.

TORONTO, Aug 27 (Reuters) - Toronto Dominion Bank and Canadian Imperial Bank of Commerce on Thursday posted forecast-topping quarterly profits on robust growth in their domestic retail businesses even as both became the latest Canadian lenders to record jumps in bad loans tied to the energy sector.

The U.K. proposed to end an assistance program for small-scale renewable energy projects as part of a drive to cut the costs to consumers of subsidizing clean technologies.

SKHIRAT, Morocco, Aug 27 (Reuters) - Delegates for Libya's rival government in Tripoli will hold off joining peace talks that were due to start on Thursday until they manage to form a new team following the resignation of a senior negotiator, a representative said.

* No rival bidder seen emerging (Adds lack of rival bidders, investment bank comment, analyst comment)

There is a stark disparity between the falling costs for renewable energy solutions for electricity customers and the rising $1 trillion budget that U.S. utilities will spend on new infrastructure over the next 15 years. The potential for utility over-investment on its side of the meter, and the potential for over-capacity on both sides of the meter, suggest that demand flexibility must be embraced by both parties, according to analysts at Rocky Mountain Institute.

LONDON, Aug 27 (Reuters) - Lower prices should help stimulate oil consumption in advanced economies, restoring some of the demand lost over the last decade, as the cost of crude soared from less than $50 to more than $100 per barrel.

* Tariffs for new installations could end in Jan 2016 (Adds comment from renewable energy association in paragraphs 10 and 11; adds bullet points)

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