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

Explore the 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

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

New York solar equipment maker Linton Crystal Technologies plans to reshore production

Linton’s plan follows multiple announcements by solar manufacturers, including First Solar and Q Cells, who have committed billions of dollars to establish or expand operations in the U.S.

By Megan Ruggles • Feb. 17, 2023

For GM, the EV race is a marathon

Despite a slower EV ramp-up, analysts say the automaker’s long-term approach to manufacturing and sourcing could give it a leg up over competitors.

By Megan Ruggles • Feb. 16, 2023

FirstEnergy: Electricity rates 10%-40% below peers will buffer customers from $18B in capital spending

In addition, FirstEnergy is considering buying a 1.3-GW coal-fired power plant in West Virginia at the direction of state utility regulators, company officials said Tuesday.

By Ethan Howland • Feb. 15, 2023

Exelon bumps 4-year capital spending plan up to $31.3B, expects 8% annual rate base growth

Exelon’s utilities connected their customers to nearly $600 million of energy assistance in 2022, up more than $100 million from 2021, Calvin Butler, Exelon president and CEO, said Tuesday, emphasizing the importance of affordability.

By Ethan Howland • Feb. 15, 2023

Ford to invest $3.5B to build Michigan EV battery plant

The lithium iron phosphate battery plant is part of Ford’s $50 billion effort to grow its EV business by 2026. 

By Kate Magill • Feb. 14, 2023

Dominion stops pursuing ITCs for contracted solar, joining Duke in Q4 renewables impairment charge

Dominion CFO Steven Ridge said the company has decided to invest capital elsewhere after using the projects to develop solar expertise that it can use on the regulated side of its business.

By Diana DiGangi • Feb. 10, 2023

PG&E Corp., utility subsidiary credit outlook improves to ‘positive’ on wildfire mitigation efforts: Moody’s

In addition, the utility company’s mostly new management team has improved stakeholder relations, the ratings agency said Wednesday.

By Ethan Howland • Feb. 10, 2023

BP CEO describes Archaea acquisition as a ‘game changer’ for boosting biogas volumes

In their first earnings call since completing the purchase of a leading landfill gas project developer, BP executives outlined plans to ramp up capital spending and pursue new offtake options for the Archaea platform.

By Cole Rosengren • Feb. 8, 2023

House Republicans target SEC climate risk rule

Having taken control of the U.S. House, Republicans are redoubling efforts to thwart the Biden administration’s sustainability initiatives.

By Jim Tyson • Feb. 7, 2023

B2U reaches 25 MWh storage capacity at California facility with 1,300 used Honda and Nissan EV batteries

In addition to deploying the Honda and Nissan batteries at scale, B2U Storage Solutions said it has tested GM Bolt and Tesla Model 3 battery packs, showing that its system can be configured to operate any EV battery.

By Stephen Singer • Feb. 7, 2023

FirstEnergy’s $3.5B deal with Brookfield highlights value of FERC-regulated transmission: analysts

Other utility companies with large FERC-regulated transmission ratebases include Ameren, AEP, Edison International, Exelon, Eversource, Pinnacle West Capital, PPL and Sempra, according to Morgan Stanley.

By Ethan Howland • Feb. 7, 2023

New York ISO warns NextEra, others against lobbying over transmission

NYISO’s CEO wrote to the chief executives of three energy companies and the New York Power Authority to “clarify” the process for selecting transmission projects.

By Stephen Singer • Feb. 6, 2023

ChargePoint, Stem strike EV charging and battery storage deal for highway corridor fast-charging networks

Combining charging, battery storage and AI-driven energy management will save money for EV site operators, the companies say.

By Stephen Singer • Feb. 1, 2023

Moody’s lowers Tri-State’s outlook to ‘negative’ as three members seek to exit, cost recovery stalls

The revised outlook issued Tuesday also reflects a rate decrease for Tri-State’s members, which prevents the wholesale power supplier from fully recovering its expenses.

By Ethan Howland • Feb. 1, 2023

First Solar brings US manufacturing investment to $4B after selling out of panels through 2025

The company wants to bring its annual domestic manufacturing capacity to 10.6 GW by 2025.

By Diana DiGangi • Feb. 1, 2023