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On July 30, the inaugural meeting of the Quantum Information Standardization Technical Committee of the Ministry of Industry and Information Technology (MIIT) was held in Beijing. Ke Jixin, member of the Party Leadership Group and Vice Minister of MIIT, attended the meeting and delivered a speech. Officials from relevant departments of MIIT, representatives of the Quantum Information Standardization Technical Committee members, and experts from related industries participated in the meeting. The establishment of the Quantum Information Standardization Technical Committee is an important measure to thoroughly implement the decisions and plans of the CPC Central Committee and the State Council on accelerating the cultivation of future industries, fully leverage the fundamental, strategic, and guiding role of standards, guide and promote the high-quality development of the quantum industry, and strengthen international cooperation in the quantum field. The Quantum Information Standardization Technical Committee is primarily responsible for the formulation and revision of industry standards in the fields of basic common technologies of quantum information, quantum computing, quantum communication, and quantum precision measurement. Its secretariat is located at the China Academy of Information and Communications Technology (CAICT).On July 30th, Alexander Krueger, an analyst at ABN AMRO, stated in a report that despite the unexpectedly positive economic growth in the second quarter, the European Central Bank (ECB) is unlikely to consider raising interest rates from the current 2.25% to above 2.50%. Krueger said, "The economy is making up for the losses of the first quarter. At that time, Ireland dragged down the economy; now it is helping to drive growth." He pointed out that considering the additional pressure from the war in Iran, the 0.4% quarter-on-quarter growth in the second quarter is a positive sign. The analyst stated that, despite this, the protracted conflict in the Middle East will delay the return to normalcy. He said the ECB will have to closely monitor economic developments and inflation.The EU has already disbursed €3.47 billion to Ukraine under a €90 billion loan program supporting Ukraine.The EU says the latest funding for Ukraine will be used for drones, missiles, air defense systems and fighter jets.Italys PPI rose 6.8% year-on-year in June, compared with 9.10% in the previous month.

A fire at an Australian power station won't make the energy crisis worse, says a market operator

Charlie Brooks

Jun 20, 2022 11:04

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The fire that blasted through a New South Wales power plant over the weekend would not impact electricity supply, the Australian Energy Market Operator (AEMO) said on Sunday, ruling out a worsening of the energy crisis gripping the east of the nation.


A quarter of 23,000 megawatts (MW) of coal-fired capacity has been brought down for maintenance or unscheduled outages in the densely populated east since mid-May. Coal supply interruptions and rising worldwide coal and gas costs have aggravated the problem.


The AEMO, which runs the nation's power and gas networks and markets, said on Friday that there was sufficient electrical supply to meet the weekend's anticipated demand, relieving immediate concerns about probable east coast blackouts.


The agency announced on Twitter (NYSE:TWTR) late Saturday night that it was aware of a "substation fire" at the Tallawarra power station in Yallah, a suburb of Wollongong, a city located approximately 80 kilometers (50 miles) south of Sydney, but that the blaze was not expected to further strain power supply.


AEMO said, "We want to reassure consumers in (New South Wales) that this will not affect the electrical supply."


The fire was caused by a mechanical breakdown in a redundant transformer, according to fire officials, and more than sixty firemen are attempting to contain it.


More than 10,000 litres (2,600 gallons) of oil caught fire, and putting it out is expected to take many days, according to the news website Nine.


Matt Kean, the treasurer of New South Wales, said that the outlook for the energy market was positive after another power producer resumed operations on Saturday night.


"The recommendation of the AEMO is that there is more than adequate supply to fulfill demand for the foreseeable future," Kean told reporters in Sydney on Sunday.


The Australian Energy Market Operator (AEMO) stopped the national energy market on Wednesday, seizing control of supply and price in an unprecedented move supported by Australian Prime Minister Anthony Albanese, who claimed it was necessary to prevent "gaming" of the system.


Since then, coal-fired generators have restored 1,900 MW of power, lessening the likelihood of blackouts, according to the Australian Energy Council.

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