Corporate News: Page 2

Sempra CFO touts California's new 4-year general rate case cycle as company reports $2.1B earnings

The modified cycle allows utilities a longer revenue trajectory and the ability to plan for an extra year, Mike Florio, energy consultant and former commissioner at the CPUC told Utility Dive.

By Kavya Balaraman • Feb. 28, 2020

NiSource sells off controversial Massachusetts Columbia Gas assets for $1.1B to Eversource

The Massachusetts gas utility was in much need of rebranding, analysts say, as it emerged with a $143 million settlement for the 2018 Merrimack Valley explosions.

By Iulia Gheorghiu • Feb. 28, 2020

With tax liability, nuclear refueling issues settled, FirstEnergy Solutions to exit bankruptcy

FES has reached an agreement that would allow 4,600 employees of the new company, Energy Harbor, to access FirstEnergy's IT systems during the refueling of the Davis-Besse nuclear plant.

By John Funk • Feb. 27, 2020

Consumers Energy talks tree-planting, carbon capture, innovation with net zero carbon 2040 target

The Michigan-based utility set a "first-in-the-nation" net zero emissions goal to make up for the emissions of two gas units that will remain open past 2040.

By Iulia Gheorghiu • Feb. 26, 2020

American Electric Power 'feeds the beast' of earnings growth with more renewable capital projects

The former coal plant giant is looking for growth in renewable energy projects and expects all or some of its 1,485 MW North Central Wind project in Oklahoma, now in regulatory limbo, to move forward.

By Matthew Bandyk • Feb. 21, 2020

'It's not even close to perfect': Judge blasts PG&E vegetation management work

"I'm going to do everything I can to protect the people of the state of California from more death and destruction from this convicted felon," the judge overseeing Pacific Gas & Electric's probation said at a hearing Wednesday.

By Kavya Balaraman • Feb. 20, 2020

Entergy sees fast growth for electrification, renewable projects

Entergy plans to shore up customer projects in its regulated utility business while completing an exit from its merchant business, officials said during the company's fourth quarter earnings call on Feb. 19.

By Matthew Bandyk • Feb. 20, 2020

Deep Dive

Slowed pay-off from billions in AMI investment puts the technology's future in doubt

Regulators have approved billions for utilities to roll out advanced metering infrastructure, but they expected new customer and system benefits, not just lower utility operation costs.

By Herman K. Trabish • Feb. 20, 2020

PG&E Corp reports $7.7B loss in 2019 amid continuing wildfire risk

The company expects to exit bankruptcy by June 30, and has "resolved essentially every consequential issue within the Bankruptcy Court's jurisdiction," according to PG&E Corp. President and CEO Bill Johnson.

By Kavya Balaraman • Feb. 19, 2020

Exelon now sees potential criminal or civil penalties from Illinois investigations

The company is under investigation by the Securities and Exchange Commission as well as the U.S. Attorney's Office in Northern Illinois for its lobbying activities in the state.

By Larry Pearl • Feb. 14, 2020

Opinion

Why DTE Energy gets failing grades on its 15-year energy plan

Advocacy groups gave the utility an "F" for ensuring equitable access to clean energy benefits, according to Vote Solar's Midwest director.

By John Delurey • Feb. 13, 2020

FirstEnergy CEO says he's ready to help Ohio lawmakers deal with FERC's PJM MOPR ruling

Charles Jones told financial analysts during the company’s latest earnings call that Ohio’s state government is generally unhappy with the results of electric utility deregulation, including PJM’s market system.

By John Funk • Feb. 11, 2020

Court backs PG&E agreement ending tussle with bondholders as utility revamps reorganization plan

Now, the ad hoc noteholder committee will withdraw its competing proposal and back PG&E's plan to emerge from bankruptcy instead.

By Kavya Balaraman • Feb. 05, 2020

Judge approves PG&E Tubbs Fire settlements, while Newsom mulls state takeover

The utility is engaged in conversations with California Gov. Gavin Newsom's office and believes it can resolve his concerns, a PG&E attorney said on Wednesday.

By Kavya Balaraman • Jan. 30, 2020

Fueled by flexible PPAs, corporate clean energy purchases surged to 19.5 GW in 2019: BloombergNEF

Analysts say the flexibility of power purchase agreements combined with more aggressive company clean energy targets helped drive a 44% year-over-year increase in corporate renewables deals.

By Robert Walton • Jan. 29, 2020

Oncor, other Texas utilities aim to avoid enforcement power for proposed cybersecurity monitor

Oncor said regulators should delete from the proposed rule all provisions that would give the monitor authority to "require utilities to submit to assessments or respond to information requests."

By Robert Walton • Jan. 29, 2020

Deep Dive

Geothermal's surprise: Cheap renewables could keep states from achieving climate goals

Planners must think beyond the levelized cost for renewables to the value that each resource brings to the grid.

By Herman K. Trabish • Jan. 27, 2020

NextEra aims to capitalize on PTC extension, repower wind in 2020

The company missed its Q4 earnings estimate but its developer arm excelled, beating fourth quarter earnings from 2018, and increasing its pipeline of projects to the largest it's ever been.

By Iulia Gheorghiu • Jan. 27, 2020

US utility M&A fell to $43B in 2019, but renewable tax incentive phaseout could re-establish interest: PwC

PricewaterhouseCoopers analysts say they expect more large deals in 2020 after utility mergers and acquisitions fell for three consecutive years.

By Robert Walton • Jan. 27, 2020

PG&E strikes deal with bondholders, but Newsom reiterates objections

The agreement awaits final approval from the bankruptcy court, but would have the bondholders' committee withdraw their competing reorganization proposal and support PG&E's instead.

By Kavya Balaraman • Jan. 23, 2020

Amazon, Lime part of new alliance to accelerate EVs

The Corporate Electric Vehicle Alliance will demand production of new EV models and infrastructure, especially in the delivery and shipping sectors. 

By Jason Plautz • Jan. 23, 2020

Arizona Public Service sets 100% clean energy target, but doesn't rule out carbon capture for gas plants

Renewables advocates cheered the announcement but called for earlier coal closures and more specifics on community support, and for state regulators to set a 100% clean energy standard.

By Robert Walton • Jan. 23, 2020

Deep Dive

2020 Utility Dive Outlooks: What's in store for coal, gas, renewables, DER and beyond

2020 promises to be another busy year across the U.S. power sector as the energy transition gathers more steam.

By Larry Pearl • Jan. 23, 2020

8minute forms equity partnership with Capital Dynamics for largest US solar + storage project

The facility will deliver 400 MW of solar and 1,200 MWh of energy storage to the Los Angeles Department of Water and Power at a fixed solar cost under $0.02 per kilowatt-hour.

By Iulia Gheorghiu • Jan. 23, 2020

PepsiCo to get all its US electricity from renewable sources

The maker of its namesake soda, Gatorade and Doritos plans to reach the target later this year. America accounts for nearly half of its total global electricity consumption.

By Christopher Doering • Jan. 16, 2020