Corporate News: Page 2

Booming demand for renewable energy financing could result in tax equity shortage, experts say

The alignment of policy and corporate goals is driving even greater demand for renewable energy, according to speakers at a Tuesday panel, but there may not be enough financing — or financing professionals — to meet demand.

By Emma Penrod • July 28, 2021

Tesla further delays Semi production amid component shortages

UPS has the largest single pre-order for 125 Semis, but the logistics provider said it is "waiting on the market."

By S.L. Fuller • July 28, 2021

Explore the Trendline➔

Trendline

Utility Business Model Reform

Utilities and regulators around the country are exploring new business models, from updated rate structures to performance-based regulation, in order to meet evolving policy and business priorities.

By Utility Dive staff

Musk: Supply chain issues creating 'significant unmet demand' for Tesla Megapack storage battery

In its Q2 earnings call, Tesla reported 1.2 GWh of storage deployment but warned that a global chip shortage "remains quite serious.”

By Jason Plautz • July 27, 2021

NextEra adds 1,840 MW renewables and storage to more than 15 GW backlog in Q2

NextEra Energy is nearing the halfway mark in its campaign to roll out 30 million solar panels across Florida by 2030, the multistate utility said Friday in its second quarter earnings report. 

By Scott Van Voorhis • July 26, 2021

AEP seeing 'credible interest' from potential buyers of Kentucky Power subsidiary, CEO says

AEP is ramping up its push to build more renewable generation, executives said Thursday, as the company detailed an increase in second quarter earnings amid a rebounding economy and interest in its Kentucky subsidiary.

By Scott Van Voorhis • July 23, 2021

FirstEnergy agrees to pay $230M fine for bribing Ohio officials to bail out two nuclear plants

Ohio groups called the fee a "drop in the bucket," despite it being the largest federal criminal penalty ever to be collected in the Southern District of Ohio, surpassing the $200 million fee imposed on Exelon subsidiary ComEd in 2020.

By Iulia Gheorghiu • July 23, 2021

Avangrid touts green hydrogen proposals under DOE initiative, raises 2021 earnings outlook

Avangrid filed several proposals with the Department of Energy, including a plan to build a 20 MW electrolyzer and hydrogen storage complex in Connecticut, to be powered by offshore wind and other renewable sources.

By Scott Van Voorhis • July 22, 2021

Austin housing project offers Tesla large-scale test bed to address challenges with energy products

A planned community of homes with Tesla's Solar Roof and Powerwalls could offer new insights into the company's energy future. 

By Jason Plautz • July 21, 2021

Avangrid, PNM report progress with merger critics as criminal probe of Iberdrola raises new questions

As the utilities work to win over the remaining critics of their proposed $8.3 billion merger, the New Mexico hearing examiner wants more information about a criminal investigation into the activities of Avangrid's parent company.

By Scott Van Voorhis • July 21, 2021

Elliott demands Duke improve performance in Florida, Indiana; says C-suite driven by 'self-interest'

The investment company, which says it's one of the utility's largest investors, repeated its previous assertion that Duke is underperforming due to poor management.

By Catherine Morehouse • July 20, 2021

PG&E equipment may be linked with another Northern California wildfire, utility reports

California officials collected portions of a PG&E 12 kV power line, including conductors, jumpers and insulators, as part of their investigation into the fire, the utility reported to state regulators. 

By Kavya Balaraman • July 20, 2021

Too few companies advocate for climate-friendly policies despite lofty goals: report

Only around 40% of the country's top 100 firms lobby for green legislation, according to sustainability nonprofit Ceres. We have "run out of time to waste," a spokesperson said.

By Chris Teale • July 14, 2021

Southern California Edison plans for 38,000 EV charging stations, in largest IOU effort of its kind

Southern California Edison wants tens of thousands of new EV charging stations across its service territory, as more and more electric vehicles hit the roads.

By Scott Van Voorhis • July 13, 2021

Corporate solar interest surges as companies exit pandemic and turn focus to ESG issues

Total corporate funding for the solar sector reached $13.5 billion in the first half of the year, a new report from Mercom Capital Group finds.

By Robert Walton • July 09, 2021

Amazon, UPS say hydrogen is further down the road than electric

Near-term sustainability talk often centers on battery-electric, but the technology and market for heavy-duty BEVs is lagging, executives said.

By S.L. Fuller • July 08, 2021

Deep Dive

From green to gold: 5 ways CFOs can gain from climate risk disclosure

CFOs confronting growing pressure to disclose climate change risks can find in their analysis opportunities to improve capital allocation and risk management.

By Jim Tyson • July 06, 2021

AEP seeks up to $317M for 3 West Virginia coal plant upgrades

American Electric Power is facing opposition from environmentalists on upgrades to a trio of coal-fired plants as the utility seeks to extend their lives until 2040.

By Scott Van Voorhis • June 18, 2021

Stem becomes investment platform CleanCapital's preferred storage provider with new partnership

The partnership will inject more capital into the storage sector while giving investors more insight into the 'esoteric' market.

By Jason Plautz • June 17, 2021

Colonial CEO defends oversight response, urges transparency on ransomware

Private industry needs more immediate and detailed threat intelligence to prevent these attacks from happening in the future, CEO Joseph Blount told the House Committee on Homeland Security.

By David Jones • June 10, 2021

Advanced nuclear tech in 'early innings' but essential to widespread decarbonization, utility execs say

The electric grid cannot be decarbonized "with renewables and batteries alone," Xcel Energy CEO Ben Fowke said at the Nuclear Energy Assembly.

By Iulia Gheorghiu • June 08, 2021

Fate of Illinois nuclear plants in balance after 3 fail to clear PJM auction and subsidy plan stalls

Three Illinois nuclear plants failed to land power contracts at the PJM capacity auction, generating additional uncertainty about their future.

By Scott Van Voorhis • June 07, 2021

Avangrid faces tough questions from New Mexico regulators in final hurdle to $8.3B PNM merger

The company is facing scrutiny over $60 million in penalties and cost disallowances levied against its utility subsidiaries across several states for service issues.

By Scott Van Voorhis • June 07, 2021

ESG issues weigh on utility credit ratings, particularly PG&E, Edison and FirstEnergy: Moody's

It's early in the energy transition, said Moody's analyst Jeffrey Cassella, but so far the firm has not identified any utility companies turning ESG concerns into net-positives.

By Robert Walton • June 03, 2021

Deep Dive

Xcel's record-low-price procurement highlights benefits of all-source competitive solicitations

The utility's Colorado division showed how competitive bidding benefits customers if regulators protect the quality of the process.

By Herman K. Trabish • June 01, 2021

Arizona regulators revive energy rules package, propose 100% clean energy by 2070

Regulators kept intact proposed standards for energy efficiency, storage, and all-source procurement, while setting a longer schedule to transition the electric sector.

By Iulia Gheorghiu • May 28, 2021