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The European Union has drafted plans to extend the use of contracts that pay power plants a fixed price for electricity, as part of its power market reform to protect European consumers from big price swings.

Japan pledged financial and technological assistance on Saturday to ASEAN countries in their efforts to decarbonize their economies and address climate change.

The European Union's executive body is ready to provide permissions, regulatory support, and easier access to public and private investment for some key green technologies, according to its draft document.

Enbridge Inc of Canada announced plans to invest C$3.3 billion ($2.4 billion) in natural gas and liquids infrastructure and renewable power this year, and said there were better investment opportunities in the U.S. due to green energy subsidies.

BP recently announced plans to invest up to 2 billion euros ($2.12 billion) in its Spanish refinery to produce low-carbon hydrogen and biofuels through the HyVal project.

China approved the construction of 106 GW of new coal-fired power capacity last year, four times more than the previous year and the highest level since 2015, spurred by energy security concerns, according to a research released on Monday.

Germany is not likely to encounter a gas crisis this winter and should postpone the conversion of floating liquefied natural gas (LNG) terminals to fixed ones, a report by the DIW economic institute said.

Germany has identified three core measures including financial support to boost energy transition technologies as well as increased green power generation and transmission to regain its position, Economics Minister Robert Habeck said on Tuesday.

Indonesia's efforts to decarbonize the country's power generation sector took a significant step forward on Feb. 22 when the government initiated the first phase of mandatory carbon trading for coal-fired power plants.

The European Union countries failed to adopt climate diplomacy conclusions scheduled for Monday due to a developing split over the role of nuclear energy in the green transition, according to EU officials.

The European Commission proposed regulations l