Corporate News: Page 2
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PG&E taps Consumers Energy chief Patricia Poppe as new CEO after months-long search
Poppe was chosen in part because of her track record on implementing a strong safety culture, interim CEO Bill Smith said Wednesday.
By Kavya Balaraman • Nov. 19, 2020 -
Deep Dive
Wildfires pushed PG&E into bankruptcy. Should other utilities be worried?
Catastrophic wildfires, which can lead to billions of dollars in damages, present a unique financial risk that the utility sector will want to get ahead of, experts say.
By Kavya Balaraman • Nov. 19, 2020 -
Calculating the costs of climate change in the energy, waste sectors
Waste Dive, Utility Dive and Smart Cities Dive teamed up for a series presenting the way their sectors are evaluating the impacts and costs of mitigating climate change.
By Nami Sumida • Nov. 18, 2020 -
Climate risks are accelerating. Here's what Duke, PG&E and 16 other utilities expect to pay.
Utility Dive took a closer look at how climate risks are threatening utilities — and how much it's going to cost to mitigate them.
By Utility Dive Editors • Nov. 18, 2020 -
Tesla rival Nikola says Biden administration bodes well for its business model
The electric vehicle manufacturer's outward optimism hasn't camouflaged its troubles. Net losses are up, and the uncertain GM deal looms large.
By Sarah Fuller • Nov. 12, 2020 -
Did Evergy reject a $15B bid from NextEra? Maybe — but not recently.
Reuters, citing anonymous sources, reported on Monday that NextEra made a bid to acquire Kansas-based Evergy and the offer was recently rejected. The two utilities had been in talks, but that process was terminated months ago.
By Robert Walton • Nov. 11, 2020 -
Fed flags climate change as financial risk, seeks transparency from banks
The declaration comes as TD Bank committed Monday to net-zero carbon emissions by 2050 for the projects it finances.
By Dan Ennis • Nov. 10, 2020 -
Deep Dive
Could COVID-19 provide a windfall to utilities from shifting demand? Report says yes, but it's complicated
The global pandemic's impact on energy consumption is still being investigated, but a Tufts University researcher expects utilities could benefit financially. Edison Electric Institute disputes the report's conclusions.
By Robert Walton • Nov. 10, 2020 -
Dominion claims it's 3rd largest utility owner of solar, continues clean energy transition in Virginia
The utility divested some of its natural gas transmission assets and announced the addition of 500 MW of solar earlier this week.
By Iulia Gheorghiu • Nov. 09, 2020 -
Black & Veatch leaving coal projects in the dust
The engineering and construction company announced it will honor its coal-based projects, but it is transitioning to more sustainable energy projects.
By Zachary Phillips • Nov. 04, 2020 -
Facing credit downgrades after firing CEO, FirstEnergy board launches further internal investigation
The company received credit downgrades recently and is the subject of a U.S. Securities and Exchange Commission investigation, its new management team told analysts Monday.
By John Funk • UPDATED: Nov. 5, 2020 at 9:58 a.m. -
FirstEnergy fires CEO, 2 other top executives in wake of $61M political bribery scandal
Thursday's dismissals came on the same day as guilty pleas from two of four lobbyists charged in a federal racketeering probe related to Ohio's nuclear and coal plant subsidy bill.
By John Funk • Oct. 30, 2020 -
PG&E says it could face significant liability due to September Zogg Fire
State fire officials are investigating the cause of the fire, which has not yet been determined.
By Kavya Balaraman • Oct. 30, 2020 -
GE Renewable Energy reports $5M profit in Q3 despite falling wind turbine orders
CEO Larry Culp predicts a "steep market decline" for the rest of 2020 and "a likely multi-year recovery," with GE's hopes for a turnaround riding on a recovery in the company's renewables and power divisions.
By Emma Penrod • Oct. 29, 2020 -
DTE Energy's gas unit spinoff advances electric sector shift from non-utility assets
"All-in-all, this transaction offers greater appeal to investors focused on the strategic and financial characteristics of a pure-play utility," said DTE President and CEO Gerardo Norcia.
By Larry Pearl • Oct. 29, 2020 -
Battery constraints preventing ramp up of electric truck production, Tesla says
The Semi requires "five-ish times" more cells than a passenger vehicle, according to CEO Elon Musk, which makes it challenging to scale manufacturing of the Class 8 electric truck.
By Sarah Fuller • Oct. 27, 2020 -
AVANGRID-PNM merger seen as step forward for New Mexico's untapped renewable potential
By purchasing New Mexico's largest utility, the Iberdrola subsidiary can bring its access to capital to bear to invest in renewables and transmission in the state and region.
By Matthew Bandyk • Oct. 23, 2020 -
AVANGRID, PNM Resources announce $8.3B merger to create 'one of biggest clean energy companies' in US
The combined entity would own 10 regulated utilities in six states, and would have renewable energy operations in 24 states.
By Robert Walton • Oct. 21, 2020 -
Retrieved from Amazon on October 09, 2020
Amazon to deploy 10K electric last-mile vans en route to net-zero carbon
Electrification is key to Amazon's Climate Pledge to reach net-zero carbon in its own operations by 2040.
By Emma Cosgrove • Oct. 16, 2020 -
NextEra merger may be too attractive for Duke, regulators to ignore, analysts say
With its recent approach of Duke Energy regarding a possible tie-up, NextEra continued its 20-year quest to acquire a major utility.
By Ted Jackson • Oct. 15, 2020 -
PG&E probation judge demands details after utility equipment seized in wildfire investigation
The Zogg Fire began in late September and has since caused four fatalities and burned more than 56,000 acres.
By Kavya Balaraman • Oct. 13, 2020 -
Column
Taking Charge: How Austin Energy simultaneously managed COVID-19 and a new carbon price adder
Austin Energy General Manager Jackie Sargent discusses "crazy times," and how the utility is protecting employees while cutting emissions on the road to carbon-free status.
By Robert Walton • Oct. 08, 2020 -
2 contractors chosen for Tesla's $1.1B Texas factory project
The electric car maker, which recently purchased additional land, has said that two unnamed general contractors have been selected for its Austin, Texas, Cybertruck facility.
By Zachary Phillips • Oct. 07, 2020 -
National Grid sees hydrogen as a linchpin, joins utilities targeting net zero carbon by 2050
The company intends to continue studies and pilots to blend hydrogen into its existing gas network, viewing the renewable gas as a "lynchpin" between its networks, according to a spokesperson.
By Iulia Gheorghiu • Oct. 05, 2020 -
Virginia regulatory staff project $800 annual customer bill increase for Dominion to meet clean energy law
Plans proposed by the utility, ranging from around $44 billion to $84.3 billion, did not include a least-cost compliance option, according to staffers.
By Iulia Gheorghiu • Oct. 01, 2020