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

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

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

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

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

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

Xcel to pursue cost-cutting measures after unfavorable rate case, mounting Marshall Fire litigation

While the company plans to fight both the rate case decision and the Marshall Fire lawsuits, CFO Brian Van Abel said it also aims to cut costs by about 3% to meet earnings goals in the second half of 2023.

By Emma Penrod • 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

PG&E Corp. CEO touts efforts to prevent fires, but some say it’s ignoring the most effective measure

PG&E’s wildfire prevention efforts “dramatically changed our risk exposure and the fundamental safety of our system,” CEO Patti Poppe said on the company’s earnings call Thursday. 

By Kavya Balaraman • Updated Aug. 1, 2023

NextEra seeing signs of wider renewable energy recovery, company leaders say

Solar panel and battery prices have begun to decline, and renewables stand to gain a third class of customers as the U.S. establishes a hydrogen industry, NextEra Energy CEO John Ketchum said.

By Emma Penrod • July 27, 2023

Fervo Energy sees ‘breakthrough’ in enhanced geothermal technology, opening path for firm, clean power

The successful use of fracking techniques at a project in Nevada expands the potential for geothermal across the West, according to Tim Latimer, Fervo CEO.

By Ethan Howland • July 21, 2023

Energy Northwest, X-energy sign joint development agreement for up to 12 small modular reactors

Energy Northwest expects to develop the 960 MW project at a site adjacent to the Columbia Generating Station and bring the first Xe-100 module online by 2030.

By Larry Pearl • July 20, 2023