Corporate News: Page 5
-
Vistra plans to sell nearly 400 MW in PJM to ease market power fears from Energy Harbor deal
The plan to sell generating units in Ohio will accelerate the merger review process, the companies told federal regulators Monday. They plan to close the $6.3 billion deal by the end of the year.
By Ethan Howland • Sept. 19, 2023 -
Holtec International formally launches process to restart Palisades nuclear power plant
“[A]lthough we see no real obstacles ahead, re-powering of a dormant plant such as Palisades would be a feat that has never been achieved before,” Holtec International CEO Kris Singh said.
By Larry Pearl • Updated Oct. 9, 2023 -
Trendline
Sustainability
Companies are pursuing increasingly ambitous sustainability goals around clean energy, but integrating rising amounts of renewables, minimizing environmental impacts, and achieving carbon reduction targets can be challenging.
By Utility Dive staff -
Moody’s raises utility sector outlook to ‘stable’ while Bank of America remains cautious
Analysts at Bank of America say utility stocks are “close to fairly valued," with wildfires posing an existential threat to some.
By Robert Walton • Sept. 8, 2023 -
PJM, market participants reach agreement to resolve $1.8B in Winter Storm Elliott fines
The agreement potentially resolving disputes with Calpine, Energy Harbor, LS Power and others is slated to be filed with federal regulators late this month.
By Ethan Howland • Sept. 5, 2023 -
Eos Energy lands $400M DOE conditional loan guarantee for long-duration battery plant
Eos — with a $9.7 billion, 37 GWh project pipeline — expects a Department of Energy loan guarantee will spur customer interest in its long-duration battery systems.
By Ethan Howland • Sept. 1, 2023 -
Peregrine Energy bags $700M financing agreement to fund 7 GW storage and renewables pipeline
The funding will help Peregrine bring its project portfolio into operation and enable the firm to capture market arbitrage opportunities and expand into new areas, the company said
By Kavya Balaraman • Sept. 1, 2023 -
Kentucky PSC rejects AEP utility’s 250-MW cryptomining power supply contract
Kentucky Power’s proposed power supply contract could have increased electricity bills for all the utility’s customers, the state commission said.
By Ethan Howland • Aug. 30, 2023 -
DOJ raises market power concerns for PJM in Vistra-Energy Harbor deal
Vistra could withhold power from a gas-fired power plant in Ohio to increase prices for nuclear plants that would be bought in the roughly $6.3 billion deal, the DOJ’s Antitrust Division said Tuesday.
By Ethan Howland • Aug. 23, 2023 -
Hawaiian Electric eyes bankruptcy after Maui wildfires in ‘prudent scenario planning’
“Like any company in this situation would do, and as we do in the normal course of business, we are seeking advice from various experts,” Hawaiian Electric and its parent company said Friday.
By Ethan Howland • Aug. 21, 2023 -
Sponsored by Newpark Resources
3 reasons composite matting is right for disaster recovery
Utilities can be best prepared for disaster recovery efforts by utilizing composite matting.
Aug. 21, 2023 -
With first-of-its-kind PTC transfer, AEP sells 1.3 GW of unregulated renewables to Invenergy-led group
American Electric Power’s sale of its unregulated renewable energy assets is part of the utility company’s effort to focus on its regulated operations.
By Ethan Howland • Aug. 17, 2023 -
Hawaiian Electric faces financial, cost recovery risks from Maui wildfires: Moody’s
Unlike California, Hawai’i does not apply the legal doctrine of inverse condemnation to utilities. But the company could still be found to have been negligent as investigations unfold, Moody’s said.
By Kavya Balaraman • Aug. 16, 2023 -
ArcLight affiliate plans to buy 693-MW Kleen Energy power plant in Connecticut from Sojitz
The transaction builds on ArcLight’s focus on the electrification “mega trend” and on supporting the energy transition, the private equity firm said Monday.
By Ethan Howland • Aug. 14, 2023 -
DOE announces $1.2B investment in Battelle, Occidental direct air carbon capture projects
At successful commercial scale, the two facilities would remove 2 million tons of carbon dioxide from the air annually.
By Diana DiGangi • Aug. 11, 2023 -
Energy Vault signs gravity energy storage license agreement with US renewable developer
The company still plans to continue directly building energy storage projects itself, particularly in North America, Chairman and CEO Robert Piconi said on an earnings call Tuesday.
By Kavya Balaraman • Aug. 9, 2023 -
Sponsored by ESG
Insights that energy customers seek: Differences between US and UK energy providers offer learnings for regional markets
In a new global survey, energy providers made it clear that providing advanced energy usage reporting and analytics are valuable insights for their C&I customers.
Aug. 7, 2023 -
Pinnacle West Q2 income falls with mild June, but record July heat creates optimism
This June was the mildest since 2009 and reduced earnings 25 cents a share compared with last year, Chief Financial Officer Andrew Cooper said during an earnings call with analysts.
By Robert Walton • Aug. 4, 2023 -
Exelon utilities land $870M in PJM transmission projects as Q2 earnings slip
Exelon’s utilities are seeking $2.9 billion in rate increases, partly driven by state clean energy policies.
By Ethan Howland • Aug. 3, 2023 -
FirstEnergy investigated by Ohio organized crime commission over bribes on energy bill
Brian Tierney, FirstEnergy’s new CEO, has been meeting with state utility regulators and hasn’t detected “regulatory overhang” from the bribery scandal as key rate cases await, he said Wednesday.
By Ethan Howland • Aug. 3, 2023 -
PSEG CEO LaRossa sees offshore wind sale, other moves advancing predictability
With up to $18.9 billion in planned capital spending, the company is focused on energy efficiency, electric vehicles and infrastructure upgrades, Ralph LaRossa said Tuesday.
By Ethan Howland • Aug. 2, 2023 -
As Vogtle Unit 3 starts commercial operation, Unit 4 gets NRC approval to begin fuel loading
Vogtle Unit 3 is the first newly constructed commercial nuclear reactor in the U.S. in more than 30 years. Unit 4 is expected to enter into service in the fourth quarter of 2023 or first quarter of 2024.
By Larry Pearl • July 31, 2023 -
Southern California Edison eyeing ‘substantial investments’ in grid resilience and reliability, CEO says
From 2025 through 2028, SCE projects annual capital deployment of around $8 billion — double what it was six years ago — with over 85% of its investments going into the distribution grid.
By Kavya Balaraman • July 31, 2023 -
Sponsored by ESG
The business of energy providers and suppliers: Today’s pressures, tomorrow’s optimism
Energy providers worldwide are operating in a constantly evolving marketplace, and these changing conditions present both challenges and opportunities.
July 31, 2023 -
First Solar plans $1.1B solar panel factory
The clean energy manufacturer is adding its fifth U.S. site as it looks to leverage Inflation Reduction Act tax credits.
By Kate Magill • July 28, 2023 -
AEP plans to sell stakes in Duke, Berkshire transmission joint ventures amid focus on core utilities
The plan to sell off its shares in transmission companies co-owned with Duke Energy, Berkshire Hathaway Energy and Evergy continues AEP’s exit from non-utility assets.
By Ethan Howland • July 28, 2023