Advocates question move to new PG&E CEO amid coronavirus, upcoming wildfire season

Current chief Bill Johnson will retire June 30, PG&E Corp. announced Wednesday, and board member William Smith will serve as interim CEO until the company appoints a new head.

By Kavya Balaraman • April 23, 2020

NextEra CEO continues push for Santee Cooper buy, mulls M&A environment amid pandemic uncertainty

The company faced opposition for its $9.46 billion offer for South Carolina-based Santee Cooper but political will for a sale remains, Jim Robo told analysts.

By Iulia Gheorghiu • April 23, 2020

Explore the Trendline➔

Top 5 Stories from Utility Dive

Power demand is rising amid dramatic shifts in federal energy policy, but technology and markets continue to push the grid toward cleaner, more distributed resources. 

By Utility Dive staff

ConEd COVID-19 cases grow past 350 as utilities forced to adjust pre-pandemic emergency plans

Consolidated Edison and other U.S. utilities had developed a pandemic operating plan years ago, but officials say flexibility has been a key to their response.

By Robert Walton • April 23, 2020

Skipjack offshore wind announces 1 year delay due to federal permitting holdups

The project developed by Ørsted​ was initially intended for commercial operation in November 2022.

By Iulia Gheorghiu • April 23, 2020

Storage, smart grid, energy efficiency sectors see $337M in Q1 corporate funding: Report

Venture capital funding in these sectors totaled $252 million, according to a report from Mercom Capital Group — a 20% increase over the first quarter of last year.

By Kavya Balaraman • April 22, 2020

Citi pledges to stop thermal coal-mining financing by 2030 to aid shift from fossil fuels

The nation's third-largest bank has long been a green stalwart, reaching a goal to finance $100 billion of activities to address climate change four years ahead of schedule.

By Dan Ennis • April 22, 2020

Southern cuts 20% of Vogtle expansion staff for labor efficiency, worker safety as coronavirus spreads

Georgia regulatory staff previously noted that the large amount of construction workers on the site could be counterproductive, but the company predicts the projects will be in-service on time.

By Iulia Gheorghiu • April 17, 2020

Utility industry groups push for first responder status for workers amid COVID-19 crisis

A status similar to that of healthcare workers would allow more access to protective and sanitizing equipment and coronavirus testing.

By Iulia Gheorghiu • April 16, 2020

Bankruptcy judge pushes back on PG&E's plan to route $4M fine through fire victim trust

"Some things not only have to be right, but they have to look right," U.S. Bankruptcy Judge Dennis Montali said.

By Kavya Balaraman • Updated April 14, 2020

'No existing playbook': COVID-19 forcing NV Energy, NYPA and other utilities to get creative

Utilities are adjusting to the COVID-19 pandemic, from deferring infrastructure projects to transitioning different positions to 'work from home,' several executives said on a panel last week.

By Matthew Bandyk • April 13, 2020

Southwest Generation purchase of Xcel gas plant to raise JPMorgan affiliation question again at FERC

JPMorgan's legal relationship with the $12 billion Infrastructure Investments Fund was first raised during the sale of El Paso Electric.

By Catherine Morehouse • April 9, 2020

PG&E bankruptcy contingency plan approved, but fire lawyers remain concerned about payouts

The tort claimants committee fears changes to PG&E's bankruptcy plan and the COVID-19 pandemic could drive down the value of stock payouts promised to fire victims.

By Kavya Balaraman • April 8, 2020

NextEra mulls bid for Evergy amid market volatility, may face competing offers from AEP, Ameren: Report

NextEra continues to show interest in purchasing an electric utility after JEA's board of directors in 2019 rejected its bid and several others to buy the municipal utility.

By Iulia Gheorghiu • April 8, 2020

Xcel sells 720 MW gas plant less than 3 months after purchasing through unregulated subsidiary

The company's rapid turnaround is in response to shareholders who preferred the utility remain fully regulated.

By Catherine Morehouse • April 7, 2020

S&P: Some utilities have less 'financial cushion' to maintain credit quality in recession

Ratings agencies believe utilities are still in a better place than most industries in the current crisis, but some are in a more precarious position than others.

By Matthew Bandyk • April 6, 2020

BlackRock, Morgan Stanley to utilities: Tackle climate-related risks or lose market value

Analyst research shows utilities that address climate-related physical and transition risks earn higher valuations from investors.

By Herman K. Trabish • April 6, 2020

Con Edison reaches 170 confirmed COVID-19 cases, 3 deaths, as risks rise for utility workers

Daily numbers continue climbing for the utility whose workforce serves New York City, the area that faces the largest outbreak of the novel coronavirus. U.S. utility workers may be at risk of contracting the virus from continued customer interactions.

By Iulia Gheorghiu • Updated April 3, 2020

FirstEnergy Solutions successor faces $500M in damages and a new hearing before FERC

Ohio Valley Electric Corporation is demanding the money for damages stemming from a court allowing FirstEnergy Solutions to break its long-term contract with the power provider.

By John Funk • April 2, 2020

DTE to add about 350 MW renewables by 2022, looks to improve competitive bidding process

The company filed an updated renewable energy plan Tuesday and plans to ask regulators later this year to approve contracts for a wind project and two solar projects it has selected through a recent RFP process.

By John Funk • April 2, 2020

El Paso Electric $4.3B acquisition nears final approval as FERC dismisses concerns about JPMorgan link

The deal has attracted scrutiny from several U.S. senators and Public Citizen over charges the buyer is fundamentally controlled by the investment bank, which could lead to conflicts of interest with ratepayers of the regulated utility.

By Matthew Bandyk • Updated July 28, 2020

Will PG&E be forced to turn to PPAs to get a bankruptcy exit plan confirmed?

The company could achieve $2.5 billion in potential savings from renegotiating existing power purchase agreements, the authors write.

By Jeff Manning and Steven Wilamowsky • March 31, 2020

PG&E fire victims concerned that COVID-19 market turmoil could affect payouts

Fire victims, along with PG&E's other creditors, will need to vote on the company's proposed reorganization plan by May 15.

By Kavya Balaraman • March 26, 2020

'Defensive' utility stocks hit hard amid COVID-19 fears; Xcel, ConEd among those expected to recover quickly

It's been about a month since broad stock market indices began falling amid novel coronavirus concerns. The utility sector has followed suit, but experts say some have a better chance for a speedy recovery.

By Robert Walton • March 24, 2020

PG&E reaches deal with Newsom, pleads guilty to involuntary manslaughter as bankruptcy reorganization deadline nears

The agreement with California Gov. Gavin Newsom is "the final component of [PG&E's] comprehensive restructuring," the company said in a motion Friday.

By Kavya Balaraman • March 24, 2020

DTE updates resource plan blasted by critics for favoring coal and gas over renewables

The new plan complies with a demand by Michigan regulators that the company take another look at customer energy efficiency programs as well as the cost of building more solar and wind to move away from coal and gas.

By John Funk • March 24, 2020