Exelon expects $173M loss related to ComEd bribery lawsuit as SEC lobbying investigation continues

“We have made substantial changes to our contracting, lobbying and compliance operations to ensure that the conduct that was at issue in the trial does not happen again,” Exelon President and CEO Calvin Butler said.

By Ethan Howland • May 4, 2023

Edison International CEO Pizarro backs Western RTO, highlights SCE efforts to prep grid for heavy duty EVs

“We are seeing customers really start to embrace and adopt EVs today, including operators of medium- and heavy-duty vehicle fleets,” Pedro Pizarro, president and CEO of Edison International, said during an earnings call.

By Kavya Balaraman • May 3, 2023

Coming EPA power plant rules will put carbon capture to the test, but better oversight is needed, critics say

New CCUS has the policy, private sector and regulatory support to end claims it underperforms, but only if new EPA rules require verification through strong federal oversight, advocates and opponents agreed.

By Herman K. Trabish • May 2, 2023

FirstEnergy West Virginia coal plant purchase would lead company to retire another one, official says

“We don’t see it as a viable option for Mon Power to operate three coal-fired power plants in West Virginia,” Jon Taylor, FirstEnergy chief financial officer, said Friday.

By Ethan Howland • May 1, 2023

Invenergy Transmission enters deal for up to 12,500 miles of advanced cable for transmission projects

“It's a clear indicator of how we're thinking past the development stage and to actually getting these built,” Invenergy’s Shashank Sane said. “They aren't just ideas anymore.”

By Ethan Howland • April 27, 2023

Tesla posts strong Q1 increase in storage deployment as EV price cuts, uncertain economy hit profit

“As we've expected, the stationary storage growth actually will significantly exceed the vehicle growth,” Tesla CEO Elon Musk said.

By Stephen Singer • April 20, 2023

AEP, Liberty Utilities terminate $2.65B Kentucky Power deal, partly over ‘evolving macro environment’

AEP is developing a “refreshed” long-term strategy for its Kentucky operations and plans to file a rate case in June, the company said Monday.

By Ethan Howland • April 17, 2023

PNM, Avangrid extend merger deadline as state regulators signal readiness to reconsider 2021 denial

The New Mexico Public Regulation Commission has joined the two utilities in requesting that a state Supreme Court appeal of the case be remanded back to the commission.

By Robert Walton • April 14, 2023

Kentucky PSC, AG urge FERC to reject AEP’s $2.65B sale of Kentucky operations to Algonquin Power

The second attempt by American Electric Power and Liberty Utilities to get Federal Energy Regulatory Commission approval of the deal falls short, Kentucky officials said Thursday.

By Ethan Howland • March 31, 2023

Morgan Stanley expects AES, DTE, Exelon and 2 other utility stocks to outperform after struggling in March

AES Corp. underperformed its peers this month, but analysts said concerns over banking industry challenges and a lower 2023 outlook than anticipated “are overdone.”

By Robert Walton • March 29, 2023

Xcel Energy powers down Minnesota nuclear plant after finding 2nd leak of radioactive water

The new leak will not materially increase the amount of tritium Xcel is working to recover, Xcel said.

By Stephen Singer • March 27, 2023

TVA, GE Hitachi, 2 others commit to $400M international small modular reactor project

“We’ve got to be on schedule, on budget and it’s got to be a competitive cost,” said Jay Wileman, CEO of GE Hitachi Nuclear Energy. 

By Stephen Singer • March 24, 2023

NuScale Power, the canary in the small modular reactor market

SMRs are being marketed as a solution to the climate crisis, but they're already far more expensive and take much longer to build than renewable and storage resources — technologies we already have.

By David Schlissel • March 21, 2023

Construction begins on Idaho Power’s first energy storage project as it faces growing capacity shortfall

State regulators said “public convenience and necessity” require Idaho Power to acquire 120 MW of dispatchable energy storage.

By Stephen Singer • March 14, 2023

Solar companies offer reassurance after renewables financier Silicon Valley Bank collapses

The federal government has ensured depositors won’t lose money as a result of the collapse, but many developers will have to find and establish new sources of financing. 

By Diana DiGangi • March 14, 2023

Energy Vault scales back 2023 revenue guidance on shift in 1-GWh customer contract

An analyst said the reduced guidance is due partly to supply chain problems and a “more thorough look” at the company’s initial two-year guidance, issued in November.

By Stephen Singer • March 9, 2023

Vistra moves more deeply into nuclear power with planned $3.43B acquisition of Energy Harbor

Vistra President and CEO Jim Burke cited the federal nuclear production tax credit that “now has down-side protection against lower power prices” as a benefit of the deal.

By Stephen Singer • March 7, 2023

Divert teams with Enbridge for $1B plan to scale renewable natural gas volumes

The organics recycling company, which has private equity backing, aims to reach “every major geographic region” of the U.S. with this deal. Canada-based Enbridge will get a 10% stake as part of its investment.

By Cole Rosengren • March 2, 2023

RWE completes $6.8B acquisition of Con Edison Clean Energy Businesses

The new company, RWE Clean Energy, now operates a roughly 8-GW portfolio of renewable energy projects in the U.S. backed by a pipeline of more than 24 GW of wind, solar and battery storage.

By Stephen Singer • March 2, 2023

APS parent Pinnacle West’s 2022 net income plunges 22% on disallowed cost recovery

Arizona regulators denied APS recovery of more than $200 million it spent to modernize the Four Corners coal plant. As a result, the company “faced major financial headwinds” last year, officials said. 

By Robert Walton • Feb. 28, 2023

PNM sees movement on proposed Avangrid merger as 2022 earnings slide 13% on investments

Looking ahead, “new transmission capacity will be needed to facilitate additional resources across the state,” said PNM President and Chief Operating Officer Don Tarry.

By Robert Walton • Feb. 27, 2023

Westinghouse Electric to submit key nuclear microreactor licensing reports for US-Canadian review

Most microreactors, which can generate up to 20 MW, are designed to be portable and may be hauled by a tractor-trailer.

By Stephen Singer • Feb. 24, 2023

AEP moves to ‘de-risk’ with $1.5B sale of unregulated wind and solar assets as it eyes further sales

American Electric Power expects to make a decision before July on whether it will sell AEP Energy, its competitive retail energy business, company officials said Feb. 23.

By Ethan Howland • Feb. 24, 2023

PSEG to consider nuclear plant investments, capitalizing on the IRA’s production tax credits, CEO says

The Inflation Reduction Act is a “game-changer that should provide the stability required for long-term viability of the U.S. nuclear fleet,” CEO Ralph LaRossa said.

By Stephen Singer • Feb. 22, 2023

New power system cybersecurity architectures can be ‘vaults’ against insider attacks, analysts say

Utility operations facing hackers now, and a future of minimally-protected distributed energy resources, will need smarter, more complex defenses, from control rooms to customer-owned devices, analysts said.

By Herman K. Trabish • Feb. 17, 2023