Corporate News
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FERC approves PG&E plan to spin off 5.6 GW in advance of possible minority stake sale
“We've actually seen pretty robust inbound interest in the asset, and so we do expect a fairly competitive process,” Carolyn Burke, PG&E Corp. CFO, said.
By Ethan Howland • June 2, 2023 -
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Constellation Energy to buy NRG Energy’s 44% ownership stake in Texas nuclear plant for $1.75B
The South Texas Project Electric Generating Station has the potential to operate for at least another 46 years “with the right policy support,” Constellation CEO Joe Dominguez said.
By Stephen Singer • June 1, 2023 -
Explore the Trendline➔
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TrendlineSustainability
Power companies are pursuing increasingly ambitous sustainability goals around clean energy, but integrating rising amounts of renewables, minimizing environmental impacts, and achieving carbon reduction targets can be challenging.
By Utility Dive staff -
Permission granted by Newpark Resources
Sponsored by Newpark ResourcesSustainability efforts are top of mind: Here’s how composite mats can help both the environment and a company’s bottom line
Composite mats are beneficial to both sustainability efforts and improving a company’s bottom line.
May 30, 2023 -
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Eversource sells 50% stake in offshore wind lease to partner Ørsted as it seeks a buyer for 3 other sites
CEO Joe Nolan said Eversource remains “fully committed to being a catalyst to the region’s clean energy transition” as its regulated companies build facilities to transmit more than 9,000 MW of offshore wind generation.
By Stephen Singer • May 26, 2023 -
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Nano Nuclear Technology to build fuel fabrication plant at Idaho National Lab
“It’s really a wonderful time to be involved in the nuclear space,” CEO James Walker said. “There's a lot going on out there.”
By Stephen Singer • May 17, 2023 -
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Elliott Management urges leadership, operational changes at NRG after ‘meaningful underperformance’
The activist investment company projects that the changes it’s recommending to NRG Energy could create $5 billion in shareholder value.
By Diana DiGangi • May 16, 2023 -
Retrieved from Green Mountain Power.
Green Mountain Power aims to lift cap on popular residential energy storage programs with Tesla, others
A lengthy waitlist places an unnecessary barrier to participation in GMP’s two energy storage programs, and a 5 MW annual cap delays “robust storage deployment,” the company told Vermont utility regulators.
By Stephen Singer • May 16, 2023 -
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NRC grants Holtec interim license for N.M. nuclear waste storage that faces governor’s opposition, lawsuit threat
The state approved a law in March banning nuclear fuel storage, and courts may need to decide if federal approval preempts state law.
By Patrick Cooley • May 11, 2023 -
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NextEra Energy Partners to sell its natural gas pipelines, focus solely on renewable energy
The move should boost the value of the company in the eyes of environmentally-conscious investors, NextEra CEO John Ketchum said.
By Emma Penrod • May 9, 2023 -
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Eversource set to announce decision on sale of stake in offshore wind joint venture with Ørsted
Eversource, which is focusing on its regulated businesses, is “very far along in the process” of finding possible buyers for its 50% stake in the offshore wind partnership, CEO Joe Nolan recently told industry analysts.
By Stephen Singer • May 8, 2023 -
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PNM proposes non-wires battery pilot to address overloaded feeders at solar facilities
The pair of 6 MW battery resources “matches the lowest cost option for solving the overloaded feeders,” PNM Resources President and Chief Operating Officer Don Tarry said.
By Robert Walton • May 8, 2023 -
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AEP plans to sell competitive retail, distributed energy businesses in move to simplify, lower risks
It is also considering selling transmission joint ventures to focus on its service territory, Julie Sloat, AEP president and CEO, said Thursday.
By Ethan Howland • May 5, 2023 -
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OpinionAs Shell and other oil and gas majors adopt clean energy strategies, how should electric utilities respond?
Oil and gas companies are experts in flexibly responding to market conditions and opportunities, and their entry into the generation market plays to these strengths.
By Alex Boyd • May 5, 2023 -
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PG&E Corp mitigation measures prepare it for upcoming wildfire season regardless of weather: CEO
PG&E estimates that the “layers of protection” it has implemented have mitigated over 90% of wildfire risk in its service area.
By Kavya Balaraman • May 5, 2023 -
Retrieved from Westinghouse Electric.
Westinghouse Electric announces new small modular reactor borrowing from its AP1000 nuclear technology
“It’s leveraging a proven technology, a very efficient and reliable techology that’s already in operation around the world,” said Patrick Fragman, Westinghouse president and CEO.
By Stephen Singer • May 4, 2023 -
Exelon expects $173M loss related to ComEd bribery lawsuit as SEC lobbying investigation continues
“We have made substantial changes to our contracting, lobbying and compliance operations to ensure that the conduct that was at issue in the trial does not happen again,” Exelon President and CEO Calvin Butler said.
By Ethan Howland • May 4, 2023 -
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Edison International CEO Pizarro backs Western RTO, highlights SCE efforts to prep grid for heavy duty EVs
“We are seeing customers really start to embrace and adopt EVs today, including operators of medium- and heavy-duty vehicle fleets,” Pedro Pizarro, president and CEO of Edison International, said during an earnings call.
By Kavya Balaraman • May 3, 2023 -
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Deep DiveComing EPA power plant rules will put carbon capture to the test, but better oversight is needed, critics say
New CCUS has the policy, private sector and regulatory support to end claims it underperforms, but only if new EPA rules require verification through strong federal oversight, advocates and opponents agreed.
By Herman K. Trabish • May 2, 2023 -
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FirstEnergy West Virginia coal plant purchase would lead company to retire another one, official says
“We don’t see it as a viable option for Mon Power to operate three coal-fired power plants in West Virginia,” Jon Taylor, FirstEnergy chief financial officer, said Friday.
By Ethan Howland • May 1, 2023 -
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Invenergy Transmission enters deal for up to 12,500 miles of advanced cable for transmission projects
“It's a clear indicator of how we're thinking past the development stage and to actually getting these built,” Invenergy’s Shashank Sane said. “They aren't just ideas anymore.”
By Ethan Howland • April 27, 2023 -
Courtesy of Tesla.
Tesla posts strong Q1 increase in storage deployment as EV price cuts, uncertain economy hit profit
“As we've expected, the stationary storage growth actually will significantly exceed the vehicle growth,” Tesla CEO Elon Musk said.
By Stephen Singer • April 20, 2023 -
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AEP, Liberty Utilities terminate $2.65B Kentucky Power deal, partly over ‘evolving macro environment’
AEP is developing a “refreshed” long-term strategy for its Kentucky operations and plans to file a rate case in June, the company said Monday.
By Ethan Howland • April 17, 2023 -
Permission granted by Pattern Energy
PNM, Avangrid extend merger deadline as state regulators signal readiness to reconsider 2021 denial
The New Mexico Public Regulation Commission has joined the two utilities in requesting that a state Supreme Court appeal of the case be remanded back to the commission.
By Robert Walton • April 14, 2023 -
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Kentucky PSC, AG urge FERC to reject AEP’s $2.65B sale of Kentucky operations to Algonquin Power
The second attempt by American Electric Power and Liberty Utilities to get Federal Energy Regulatory Commission approval of the deal falls short, Kentucky officials said Thursday.
By Ethan Howland • March 31, 2023 -
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Morgan Stanley expects AES, DTE, Exelon and 2 other utility stocks to outperform after struggling in March
AES Corp. underperformed its peers this month, but analysts said concerns over banking industry challenges and a lower 2023 outlook than anticipated “are overdone.”
By Robert Walton • March 29, 2023
