Energy Transition, Renewables, Hydrogen, Battery Metals
January 14, 2026
ET Highlights: ET Highlights: EU publishes CBAM emergency brake guidance after fertilizer backlash; Hitachi Energy sees power equipment demand rising
Energy Transition Highlights: Our editors and analysts bring together the biggest stories in the industry this week, from renewables to storage to carbon prices.
Top story
EU publishes CBAM emergency brake guidance after fertilizer backlash
The European Commission published detailed guidance on a new emergency brake mechanism for its Carbon Border Adjustment Mechanism, clarifying how it could temporarily suspend CBAM on goods, including fertilizers, if market disruption occurs, following political pressure from agriculture ministers over food price inflation concerns.
Article 27a of the CBAM Regulation explains how the Commission could remove goods from the scope of CBAM through a delegated act if their inclusion causes "severe harm to the [EU] internal market due to serious and unforeseen circumstances related to the impact on the prices of goods."
The mechanism would allow retroactive suspension, potentially back to Jan. 1 when CBAM's definitive phase began.
The clarification comes after Commissioner Maros Sefcovic confirmed Jan. 7 that fertilizers will remain within CBAM scope while noting the Commission will assess temporarily suspending their inclusion should the carbon border tax lead to significant inflationary pressure on food prices.
Benchmark of the Week
Eur89.49/mtCO2e ($104.51/mtCO2e)
Platts nearest December EU Allowances price assessment.
Learn more: Platts Carbon Markets Specifications Guide
Editor's Picks: Free and premium content
SPGlobal.com
INTERVIEW: No peak demand in sight for booming power grid demand: Hitachi Energy CEO
Demand for power grid equipment is set to keep rising over the next decade despite bottlenecks in the manufacturing of transformers and other vital grid components, leading to extended waiting times, the CEO of the world's biggest maker of transformers, Hitachi Energy, Andreas Schierenbeck, told Platts, part of S&P Global Energy. Schierenbeck said the world hasn’t seen peak demand [for grid equipment] yet and that it is estimated to be a good market for the next 10-15 years.
COMMODITIES 2026: Lithium carbonate surplus to narrow; energy storage to drive growth
Surplus in the global lithium carbonate market is expected to narrow in 2026, with both demand and supply set to grow in the year and energy storage demand is seen emerging as the most significant and outperforming driver of lithium-ion battery consumption. Although demand growth from the traditional passenger electric vehicle segment is likely to be modest, the growth trajectory for electric heavy-duty trucks appears increasingly robust.
S&P Global Energy Core
Mitsui O.S.K., Itochu form strategic partnership for transport decarbonization
Mitsui O.S.K. Lines (MOL) and Itochu Corp. have signed a memorandum of understanding to advance decarbonization in the transportation sector through the use of Environmental Attribute Certificates, MOL said. An EAC is a mechanism that enables companies to issue and utilize certificates stating reductions in indirect greenhouse gas emissions, or ‘Scope 3’ across their supply chain activities.
Essar eyes UK’s first blue hydrogen project FID in H1 2026
Essar subsidiary EET Hydrogen is targeting a final investment decision for its carbon capture-enabled 350-MW HPP1 plant in the UK in the first half of 2026, a company spokesperson told Platts. The company is making “really good progress” on the project at Essar’s Stanlow refinery, the spokesperson said, and is working closely with the UK government to finalize the commercial agreements for the plant.
ONGC plans to float 20,000 mt/year renewable hydrogen tender for captive use
India's ONGC plans to float a tender for setting up a 20,000 metric ton/year renewable hydrogen project for captive use at its unit Mangalore Refineries and Petrochemicals Ltd, Harsh Nupur Joshi, chief operating officer at ONGC Green told Platts. According to ONGC's decarbonization roadmap, issued in 2024, it plans to spend Rupees 2 trillion ($24 billion) on new energy and decarbonization, with the goal of achieving net-zero emissions (scope 1 and scope 2) by 2038.