Corporate News: Page 2
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Hawaiian Electric defends management, renewables approach amid investor dissatisfaction
ValueAct Capital Management wants to see a shakeup at the parent company of utility Hawaiian Electric. Some observers agree.
By Robert Walton • Nov. 14, 2019 -
Entergy Texas, Georgia Power lead on business customer satisfaction amid growing divide: JD Power
While satisfaction is rising, the marketing research company found the gap between the highest- and lowest-performing utilities is now at a 13-year high.
By Robert Walton • Nov. 13, 2019 -
PG&E raises wildfire compensation offer to $13.5B as California turns up pressure
Gov. Gavin Newsom had asked a bankruptcy judge to delay a previous, smaller deal to compensate wildfire victims. And more cities are asking for a public takeover of the embattled utility.
By Robert Walton • Nov. 12, 2019 -
Deep DiveIn the 'cat and mouse game' of utility cyberattacks, AI and machine learning show promise, limits
"There is so much low hanging fruit in utility system challenges that can be addressed by advanced data analytic strategies that AI and machine learning are not the place to start," a cybersecurity expert said.
By Herman K. Trabish • Nov. 07, 2019 -
Dominion Virginia plan for 1.5 GW new peaking capacity will lead to more gas plants, NGOs fear
The utility released a request for proposals yesterday, saying it needs the new capacity beginning in 2022 to replace generation retirements and provide system balancing needs for its growing renewables fleet.
By Robert Walton • Nov. 07, 2019 -
Tesla, Walmart settle lawsuit over fires; solar panels to remain in place
Walmart and Tesla have settled a lawsuit in which the big box retailer alleged the company's solar panel installations caught fire and caused millions in damages.
By Robert Walton • Nov. 06, 2019 -
FirstEnergy nears proposal to decouple Ohio utility revenues, electricity consumption: CEO
The plan "fixes our base revenues" and makes part of the company "somewhat recession-proof," Chuck Jones said during the company's Q3 earnings call.
By Larry Pearl • Nov. 05, 2019 -
Canadian pension fund pays $6B for Pattern Energy's 4.4 GW renewables portfolio in latest yieldco deal
Remember yieldcos? Experts say large funds see opportunity in the renewable energy investment options whose shares have often languished.
By Robert Walton • Nov. 05, 2019 -
California governor floats PG&E takeover, moves to expedite bankruptcy proceeding
Governor Gavin Newsom called for a meeting this week between state officials, the utility, its creditors, its shareholders and wildfire victims, to "accelerate a consensual resolution."
By Robert Walton • Nov. 04, 2019 -
Exelon CEO cites moves to ensure actions 'beyond ethical reproach' in face of lobbying controversy
A grand jury is investigating lobbying activities related to pending Illinois clean energy legislation. Without progress on the bill by the spring, the company will move to shut down four nuclear plants in the state, Chris Crane said.
By Larry Pearl • Nov. 01, 2019 -
Vogtle opponents get new chance to press case in court as plant manager reprimanded for firing whistleblower
The $27 billion nuclear project is more than 80% complete, Southern Company CEO Tom Fanning told analysts on the company's Q3 earnings call, but potential legal roadblocks remain.
By Lynn Freehill-Maye • Oct. 31, 2019 -
PG&E shares jump 32% amid power shutoffs as judge appoints bankruptcy mediator
Meanwhile, half a million customers are still without power and the utility has said it will provide refunds to customers impacted by its first October shutoff.
By Robert Walton • Oct. 30, 2019 -
PSEG in talks to acquire 25% of Ørsted's 1,100 MW New Jersey offshore wind project
The utility is in exclusive negotiations to launch a joint venture while working to divest from coal assets and have carbon-free generation by 2050.
By Iulia Gheorghiu • Oct. 30, 2019 -
California governor calls on Warren Buffett to purchase bankrupt PG&E
While Buffett's subsidiary, Berkshire Hathaway Energy, has significant holdings in the state, experts warn that PG&E's circumstances are very complex.
By Lynn Freehill-Maye • Oct. 29, 2019 -
Sponsored2019 credit balance refund report, part 2: Delivering on customer expectations
Giving your credit balance refunds a makeover is both a way to reduce costs and an opportunity to give consumers the upgraded experience they deserve.
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Murray Energy, largest US producer, joins long list of bankrupt coal companies
The Trump administration vowed to save the coal sector, but Murray is the eighth company to go bankrupt in the last year.
By Robert Walton • Oct. 29, 2019 -
PG&E deploys largest-ever power shutoff, but responsibility for Kincade Fire now in question
Up to 3 million people were impacted by PG&E's massive power shutoff over the weekend. Meanwhile, shares hit a record low this morning as the utility reported a transmission line failure near the origin of last week's wildfire.
By Robert Walton • Oct. 28, 2019 -
Amazon announces 265 MW in new solar, wind as part of 100% renewables pledge
Two of the three projects will be U.S.-based and the third is set to be the largest corporate power purchase agreement in the U.K.
By Catherine Morehouse • Oct. 25, 2019 -
Tesla earnings surprise includes storage, solar growth
A surprise profit sent shares soaring. Beyond vehicle sales growth and cost cutting, the company boasted record 477 MWh storage installations and rebounding solar in Q3.
By Robert Walton • Oct. 24, 2019 -
National Grid investment arm doubles-down on AI capabilities, but cultural change remains key
National Grid Partners' president wants the venture capital arm to stand out from other utility investment and innovation segments by requiring "culture acceleration," to fully utilize new technologies.
By Iulia Gheorghiu • Oct. 24, 2019 -
Lack of mega deals pressures quarterly utility M&A value to lowest since Q2 2017: PwC
While deal value in the North American utility sector declined to $7 billion in Q3, those deals reflect the diversity of opportunity in the energy sector, according to PwC analysis.
By Robert Walton • Oct. 24, 2019 -
San Jose proposes multibillion PG&E buyout. Utility says it's 'not for sale'
The mayor of San Jose, California, has proposed cities and counties buy Pacific Gas & Electric and turn it into the nation's largest publicly-owned supplier of electricity.
By Robert Walton • Oct. 22, 2019 -
Virginia signs largest state renewable energy contract in US with 420 MW Dominion deal
The utility will deliver the energy from a 75 MW wind project and four proposed solar projects, totaling 345 MW over the next three years.
By Robert Walton • Oct. 21, 2019 -
As PPA price drops slow for wind and solar, developers see PJM, ERCOT as top markets
Wind prices rose in Q3 across several U.S. markets, and developers are increasingly feeling the pressure of declining tax credits, according to LevelTen, which also sees strong potential in MISO.
By Iulia Gheorghiu • Oct. 17, 2019 -
FirstEnergy Solutions' shift on pensions paves way for bankruptcy exit
FES agreed to keep the traditional pensions of its power plant employees, rather than switch to 401Ks, prompting the federal bankruptcy judge to approve the company's restructuring plan.
By John Funk • UPDATED: Oct. 16, 2019 at 3:01 p.m.
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