Slovakia starts nuclear unit as Schneider lifts outlook - 16 October 2026

As of October 16, today’s news features developments in energy infrastructure, particularly relating to nuclear power and the implications of artificial intelligence on various sectors. In a significant milestone for Slovakia, the fourth unit of the Mochovce nuclear power plant has been successfully connected and is now supplying electricity while operating at 20% power. Operated by Slovenske Elektrarne, the unit has an installed capacity of 471 MW and is projected to generate roughly 3.5 million MWh annually once fully operational, significantly boosting Slovakia’s electricity supply. Meanwhile, Schneider Electric raised its 2026 core profit and revenue targets for the second time this year on Friday, as the French industrial group cements its role as a key supplier to big cloud companies building AI data centres. Turning to the UK's energy landscape, Ofgem is initiating a consultation to activate its market stabilization charge, aimed at shielding suppliers from wholesale price fluctuations amidst expected winter volatility. This mechanism, previously in place during price surges linked to the Russia-Ukraine conflict, is designed to mitigate supplier losses caused by dramatic drops in energy prices when customers switch to cheaper deals. In the realm of corporate news, Tesla's Vice President of Energy, Mike Snyder, has reportedly stepped down, with AJ Booth stepping into the role. Snyder, who joined Tesla in 2014 and oversaw the Megapack division, departs as the company experiences a 9.6% growth in its energy segment for the third quarter. The energy business has contributed significantly to overall revenue, now making up around 11% in the first half of 2023. Regarding materials, aluminium prices are forecasted to enter a surplus by 2027, driven by an anticipated increase in supply from Indonesia and improved flows from Gulf smelters. This outlook has already resulted in a decrease of aluminium prices below 3,000 dollars a tonne, reflecting market adjustments following trade disruptions caused by ongoing geopolitical tensions. On the global stage, tensions continue as Ukrainian President Volodymyr Zelenskiy criticized U.S. President Donald Trump’s diesel deal with Russia, while reaffirming Ukraine's intent to resist Moscow's military actions. This comes alongside ongoing discussions among EU leaders about strengthening support for Ukraine amidst its challenges.