Corporate News: Page 2

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

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