CEPSA, the Spanish multinational traditionally known for its oil and gas expertise, is looking toward a greener future with its new Positive Motion strategy. On today's show, Albert Cheung, Deputy CEO at BNEF, speaks with CEPSA CEO Maarten Wetselaar about what it means to rethink the future of a business that has traditionally focused on hydrocarbons. Together they discuss a variety of subjects, including how the implementation of the Positive Motion strategy is successfully transitioning the company across multiple sectors, conflicting approaches between public and private multinational investment in renewables, and recent international competition between nations within the green energy space.

Complimentary research from BNEF on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com, or on the BNEF mobile app.

CEPSA, the Spanish multinational traditionally known for its oil and gas expertise, is looking toward a greener future with its new Positive Motion strategy. On today's show, Albert Cheung, Deputy CEO at BNEF, speaks with CEPSA CEO Maarten Wetselaar about what it means to rethink the future of a business that has traditionally focused on hydrocarbons. Together they discuss a variety of subjects, including how the implementation of the Positive Motion strategy is successfully transitioning the company across multiple sectors, conflicting approaches between public and private multinational investment in renewables, and recent international competition between nations within the green energy space. Complimentary research from BNEF on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com, or on the BNEF mobile app.

The future of energy, transport, sustainability and more, as told by BNEF analysts. Each week, Dana Perkins and Tom Rowlands-Rees sit down with BloombergNEF (BNEF) analysts to uncover the key findings and stories behind their latest research.

The future of energy, transport, sustainability and more, as told by BNEF analysts. Each week, Dana Perkins and Tom Rowlands-Rees sit down with BloombergNEF (BNEF) analysts to uncover the key findings and stories behind their latest research.

The future of energy, transport, sustainability and more from Bloomberg analysts

Switched On

CEPSA Sets A New Strategy in ‘Positive Motion’

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4fb27495-6e1c-48ff-a6ee-aff900b8b3a6/transcript

Australia is becoming a proving ground for the future of electricity markets. With renewables now supplying a large share of generation and batteries being deployed at unprecedented scale, the country is offering an early look at how power systems operate when storage becomes a central part of the grid. Yet batteries’ remarkable success in the country brings with it new challenges, as growing competition begins to erode the arbitrage opportunities that drove the sector’s early growth. So what happens when batteries move from a niche technology to a core part of the power system, and what can Australia’s experience teach the rest of the world? On today’s show, Kobad Bhavnagri is joined by  joined by Sahaj Sood, an associate from BNEF’s Australian research team, to review findings from his notes “Australia Energy Storage Update 2026: Arbs and Flows” and “Batteries Supercharge Australia’s Solar and Wind Economics.”

Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

Australia Energy Storage Update 2026: Arbs and Flows - https://www.bnef.com/insights/39303

Batteries Supercharge Australia’s Solar and Wind Economics - https://www.bnef.com/insights/39135

Australia is becoming a proving ground for the future of electricity markets. With renewables now supplying a large share of generation and batteries being deployed at unprecedented scale, the country is offering an early look at how power systems operate when storage becomes a central part of the grid. Yet batteries&rsquo; remarkable success in the country brings with it new challenges, as growing competition begins to erode the arbitrage opportunities that drove the sector&rsquo;s early growth. So what happens when batteries move from a niche technology to a core part of the power system, and what can Australia&rsquo;s experience teach the rest of the world? On today&rsquo;s show, Kobad Bhavnagri is joined by&nbsp; joined by Sahaj Sood, an associate from BNEF&rsquo;s Australian research team, to review findings from his notes &ldquo;Australia Energy Storage Update 2026: Arbs and Flows&rdquo; and &ldquo;Batteries Supercharge Australia&rsquo;s Solar and Wind Economics.&rdquo;
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF&lt;GO&gt; on the Bloomberg Terminal or on <a href="https://www.bnef.com/">bnef.com</a>
Links to research notes from this episode:
Australia Energy Storage Update 2026: Arbs and Flows - <a href="https://www.bnef.com/insights/39303">https://www.bnef.com/insights/39303</a>
Batteries Supercharge Australia&rsquo;s Solar and Wind Economics - <a href="https://www.bnef.com/insights/39135">https://www.bnef.com/insights/39135</a>

Battery Boom Is Upending Australian Power Market Rules

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8384bb05-787d-467c-9eeb-b47300740b46/transcript

As power grids become more digital and interconnected, they are also becoming more exposed. Utilities are facing a growing mix of physical and cyber threats, from attacks on substations to increasingly sophisticated efforts to infiltrate the systems used to monitor and operate the grid. Smart meters, distributed energy resources and connected devices are creating new vulnerabilities, while AI has the potential to both strengthen defenses and lower the barrier to more complex attacks. Yet security spending remains difficult to prioritize, forcing utilities and regulators to weigh uncertain risks against other pressing investment needs. So how should the power sector think about grid security, and what does resilience look like in an increasingly connected energy system? On today’s show, Tom Rowlands-Rees is joined by Hayley Lai, an analyst from BNEF’s grids team, to discuss findings from her note “Physical and Cyber Threats Reshape US Grid Investment.”

Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

Physical and Cyber Threats Reshape US Grid Investment - https://www.bnef.com/insights/39285

As power grids become more digital and interconnected, they are also becoming more exposed. Utilities are facing a growing mix of physical and cyber threats, from attacks on substations to increasingly sophisticated efforts to infiltrate the systems used to monitor and operate the grid. Smart meters, distributed energy resources and connected devices are creating new vulnerabilities, while AI has the potential to both strengthen defenses and lower the barrier to more complex attacks. Yet security spending remains difficult to prioritize, forcing utilities and regulators to weigh uncertain risks against other pressing investment needs. So how should the power sector think about grid security, and what does resilience look like in an increasingly connected energy system? On today&rsquo;s show, Tom Rowlands-Rees is joined by Hayley Lai, an analyst from BNEF&rsquo;s grids team, to discuss findings from her note &ldquo;Physical and Cyber Threats Reshape US Grid Investment.&rdquo;
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF&lt;GO&gt; on the Bloomberg Terminal or on <a href="https://www.bnef.com/">bnef.com</a>
Links to research notes from this episode:
Physical and Cyber Threats Reshape US Grid Investment - <a href="https://www.bnef.com/insights/39285">https://www.bnef.com/insights/39285</a>

Defending the Power Grid in an Age of Digital Threats

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e82227e0-defc-4a10-8254-b46c01636cc1/transcript

El Niño has officially arrived, and there are concerns this time that the weather phenomenon might be more intense than most years, a so-called “super” event. With Pacific Ocean temperatures now exceeding the threshold for one of the strongest forms of the weather pattern, the risk of prolonged heat, drought, low wind and other disruptive weather events is rising across multiple regions at once. For commodity and power markets, that can mean greater volatility, from wind droughts in Europe and hydropower stress in the Nordics to shifting hurricane risks in the US. Yet El Niño can also ease pressure in some markets, influencing winter temperatures, rainfall patterns and energy demand in ways that are not always straightforward. So what does a super El Niño mean for commodities, power markets and energy systems, and where are the biggest risks likely to emerge? On today’s show, Kamala Schelling is joined by BloombergNEF’s weather analysts, Jess Hicks and Ryan Ward, to discuss some of their team’s notes, including “Weather and Commodities: Summer Outlook 2026 Marks El Niño” and “Atlantic Hurricane Outlook 2026: El Niño Lowers Count.”

Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

Atlantic Hurricane Outlook 2026: El Niño Lowers Count - https://www.bnef.com/insights/39663

Weather and Commodities: Summer Outlook 2026 Marks El Niño - https://www.bnef.com/insights/39615

AI Models Show Edge in Tropical Cyclone Prediction - https://www.bnef.com/insights/39679

El Ni&ntilde;o has officially arrived, and there are concerns this time that the weather phenomenon might be more intense than most years, a so-called &ldquo;super&rdquo; event. With Pacific Ocean temperatures now exceeding the threshold for one of the strongest forms of the weather pattern, the risk of prolonged heat, drought, low wind and other disruptive weather events is rising across multiple regions at once. For commodity and power markets, that can mean greater volatility, from wind droughts in Europe and hydropower stress in the Nordics to shifting hurricane risks in the US. Yet El Ni&ntilde;o can also ease pressure in some markets, influencing winter temperatures, rainfall patterns and energy demand in ways that are not always straightforward. So what does a super El Ni&ntilde;o mean for commodities, power markets and energy systems, and where are the biggest risks likely to emerge? On today&rsquo;s show, Kamala Schelling is joined by BloombergNEF&rsquo;s weather analysts, Jess Hicks and Ryan Ward, to discuss some of their team&rsquo;s notes, including &ldquo;Weather and Commodities: Summer Outlook 2026 Marks El Ni&ntilde;o&rdquo; and &ldquo;Atlantic Hurricane Outlook 2026: El Ni&ntilde;o Lowers Count.&rdquo;
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF&lt;GO&gt; on the Bloomberg Terminal or on <a href="https://www.bnef.com/">bnef.com</a>
Links to research notes from this episode:
Atlantic Hurricane Outlook 2026: El Ni&ntilde;o Lowers Count - <a href="https://www.bnef.com/insights/39663">https://www.bnef.com/insights/39663</a>
Weather and Commodities: Summer Outlook 2026 Marks El Ni&ntilde;o - <a href="https://www.bnef.com/insights/39615">https://www.bnef.com/insights/39615</a>
AI Models Show Edge in Tropical Cyclone Prediction - <a href="https://www.bnef.com/insights/39679">https://www.bnef.com/insights/39679</a>
&nbsp;

 How Super El Niño Hits Power Markets: Analyst Reaction

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/af3be4db-13d3-456e-82d8-b46a00aabc3c/transcript

CEPSA Sets A New Strategy in ‘Positive Motion’

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