Corporate News
-
Justin Sullivan via Getty Images
Hawaiian Electric CEO defends Maui wildfire decisions at House hearing
The utility’s protocols did not include de-energizing power lines during high-fire-risk conditions, Hawaiian Electric President and CEO Shelee Kimura told lawmakers.
By Kavya Balaraman • Sept. 29, 2023 -
Courtesy of Bechtel
Moody’s hikes Southern, Georgia Power outlook to ‘positive’ on Vogtle progress
Georgia Power also issued a request for information as it potentially seeks at least 3.7 GW in power supplies, including storage, storage+renewables and thermal generation.
By Ethan Howland • Sept. 27, 2023 -
Explore the Trendline➔
Christopher Furlong via Getty Images
TrendlineDecarbonization
Companies and governments are pushing to reduce carbon emissions, prompting questions about how to best increase the use of zero-emitting resources amid interconnection, transmission and other challenges.
By Utility Dive staff -
imaginima via Getty Images
OpinionCustomer-driven clean energy procurement, not regulation, is driving decarbonization
In 2022, voluntary renewable energy procurement deals by corporate and institutional customers were equivalent to 70% of the carbon-free energy capacity added to the grid.
By Kevin Hagen • Sept. 25, 2023 -
Billy H.C. Kwok via Getty Images
More than 300 Apple suppliers have commited to clean energy
The device maker also released its first carbon-neutral devices as it closes on its goal of dramatically cutting emissions in its supply chain.
By Ben Unglesbee • Sept. 19, 2023 -
"Perry Nuclear Plant" by Cards84664 is licensed under CC BY-SA 4.0
Vistra plans to sell nearly 400 MW in PJM to ease market power fears from Energy Harbor deal
The plan to sell generating units in Ohio will accelerate the merger review process, the companies told federal regulators Monday. They plan to close the $6.3 billion deal by the end of the year.
By Ethan Howland • Sept. 19, 2023 -
Permission granted by Holtec International
Restart of Palisades nuclear plant takes ‘giant step’ as Holtec, Wolverine Power sign PPA
“[A]lthough we see no real obstacles ahead, re-powering of a dormant plant such as Palisades would be a feat that has never been achieved before,” Holtec International CEO Kris Singh said.
By Larry Pearl • Sept. 13, 2023 -
lucadp via Getty Images
Moody’s raises utility sector outlook to ‘stable’ while Bank of America remains cautious
Analysts at Bank of America say utility stocks are “close to fairly valued," with wildfires posing an existential threat to some.
By Robert Walton • Sept. 8, 2023 -
Travis Wallace via Getty Images
PJM, market participants reach agreement to resolve $1.8B in Winter Storm Elliott fines
The agreement potentially resolving disputes with Calpine, Energy Harbor, LS Power and others is slated to be filed with federal regulators late this month.
By Ethan Howland • Sept. 5, 2023 -
Permission granted by Eos Energy Enterprises, photo by John Halpern
Eos Energy lands $400M DOE conditional loan guarantee for long-duration battery plant
Eos — with a $9.7 billion, 37 GWh project pipeline — expects a Department of Energy loan guarantee will spur customer interest in its long-duration battery systems.
By Ethan Howland • Sept. 1, 2023 -
Retrieved from Wartsila.
Peregrine Energy bags $700M financing agreement to fund 7 GW storage and renewables pipeline
The funding will help Peregrine bring its project portfolio into operation and enable the firm to capture market arbitrage opportunities and expand into new areas, the company said
By Kavya Balaraman • Sept. 1, 2023 -
luza studios via Getty Images
Kentucky PSC rejects AEP utility’s 250-MW cryptomining power supply contract
Kentucky Power’s proposed power supply contract could have increased electricity bills for all the utility’s customers, the state commission said.
By Ethan Howland • Aug. 30, 2023 -
"Beaver Valley Nuclear Power Plant". Retrieved from Wikipedia.
DOJ raises market power concerns for PJM in Vistra-Energy Harbor deal
Vistra could withhold power from a gas-fired power plant in Ohio to increase prices for nuclear plants that would be bought in the roughly $6.3 billion deal, the DOJ’s Antitrust Division said Tuesday.
By Ethan Howland • Aug. 23, 2023 -
Justin Sullivan via Getty Images
Hawaiian Electric eyes bankruptcy after Maui wildfires in ‘prudent scenario planning’
“Like any company in this situation would do, and as we do in the normal course of business, we are seeking advice from various experts,” Hawaiian Electric and its parent company said Friday.
By Ethan Howland • Aug. 21, 2023 -
Permission granted by Newpark Resources
Sponsored by Newpark Resources3 reasons composite matting is right for disaster recovery
Utilities can be best prepared for disaster recovery efforts by utilizing composite matting.
Aug. 21, 2023 -
arinahabich via Getty Images
With first-of-its-kind PTC transfer, AEP sells 1.3 GW of unregulated renewables to Invenergy-led group
American Electric Power’s sale of its unregulated renewable energy assets is part of the utility company’s effort to focus on its regulated operations.
By Ethan Howland • Aug. 17, 2023 -
Courtesy of Office of Gov. Josh Green
Hawaiian Electric faces financial, cost recovery risks from Maui wildfires: Moody’s
Unlike California, Hawai’i does not apply the legal doctrine of inverse condemnation to utilities. But the company could still be found to have been negligent as investigations unfold, Moody’s said.
By Kavya Balaraman • Aug. 16, 2023 -
photovs via Getty Images
ArcLight affiliate plans to buy 693-MW Kleen Energy power plant in Connecticut from Sojitz
The transaction builds on ArcLight’s focus on the electrification “mega trend” and on supporting the energy transition, the private equity firm said Monday.
By Ethan Howland • Aug. 14, 2023 -
Spencer Platt via Getty Images
DOE announces $1.2B investment in Battelle, Occidental direct air carbon capture projects
At successful commercial scale, the two facilities would remove 2 million tons of carbon dioxide from the air annually.
By Diana DiGangi • Aug. 11, 2023 -
stock.adobe.com/malp
Energy Vault signs gravity energy storage license agreement with US renewable developer
The company still plans to continue directly building energy storage projects itself, particularly in North America, Chairman and CEO Robert Piconi said on an earnings call Tuesday.
By Kavya Balaraman • Aug. 9, 2023 -
LL28 via Getty Images
Sponsored by ESGInsights that energy customers seek: Differences between US and UK energy providers offer learnings for regional markets
In a new global survey, energy providers made it clear that providing advanced energy usage reporting and analytics are valuable insights for their C&I customers.
Aug. 7, 2023 -
Davel5957/iStock via Getty Images
Pinnacle West Q2 income falls with mild June, but record July heat creates optimism
This June was the mildest since 2009 and reduced earnings 25 cents a share compared with last year, Chief Financial Officer Andrew Cooper said during an earnings call with analysts.
By Robert Walton • Aug. 4, 2023 -
BrianEKushner via Getty Images
Exelon utilities land $870M in PJM transmission projects as Q2 earnings slip
Exelon’s utilities are seeking $2.9 billion in rate increases, partly driven by state clean energy policies.
By Ethan Howland • Aug. 3, 2023 -
jitendrajadhav via Getty Images
FirstEnergy investigated by Ohio organized crime commission over bribes on energy bill
Brian Tierney, FirstEnergy’s new CEO, has been meeting with state utility regulators and hasn’t detected “regulatory overhang” from the bribery scandal as key rate cases await, he said Wednesday.
By Ethan Howland • Aug. 3, 2023 -
demerzel21 via Getty Images
PSEG CEO LaRossa sees offshore wind sale, other moves advancing predictability
With up to $18.9 billion in planned capital spending, the company is focused on energy efficiency, electric vehicles and infrastructure upgrades, Ralph LaRossa said Tuesday.
By Ethan Howland • Aug. 2, 2023 -
Courtesy of Bechtel
As Vogtle Unit 3 starts commercial operation, Unit 4 gets NRC approval to begin fuel loading
Vogtle Unit 3 is the first newly constructed commercial nuclear reactor in the U.S. in more than 30 years. Unit 4 is expected to enter into service in the fourth quarter of 2023 or first quarter of 2024.
By Larry Pearl • July 31, 2023
