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

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