Corporate News: Page 28
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"Empire State Building & Con Ed East River Station @ Stuyvesant, Manhattan, NYC" by Axel Taferner is licensed under CC BY-SA 2.0
Con Edison commits $1.5 billion to energy efficiency
The pledge amounts to a tripling of the utility's current investment in such programs and will include customer incentives for ground and air-source heat pumps.
By Guy Burdick • May 20, 2020 -
Fotolia
Long-term demand propels renewable procurement during pandemic as buyers remain motivated
In some communities, data center construction and new renewable energy to power the projects are viewed as a critical effort to reinvigorate the local economy amid the economic downturn of the pandemic.
By Iulia Gheorghiu • May 20, 2020 -
Explore the Trendlineâž”
Kevork Djansezian via Getty Images
TrendlineSustainability
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 -
PG&E says fire victims have accepted bankruptcy plan, with final vote count due this week
But multiple parties have filed objections to PG&E's reorganization plan, including a committee representing the interests of fire victims.
By Kavya Balaraman • May 20, 2020 -
"Exterior view of the Virginia City Hybrid Energy Center" by Hansellts is licensed under CC BY-SA 4.0
Walmart blasts Virginia regulator's report on pricing, biomass in Dominion's proposed 100% renewable energy tariff
Tension is mounting in Virginia's regulatory proceeding that would block Dominion customers from leaving its service for clean energy and charge a premium for 100% renewable energy.
By Iulia Gheorghiu • May 14, 2020 -
Exelon downgrades 2020 earnings guidance as coronavirus, unfavorable weather take a toll
Each of the company's utilities is working with regulators on COVID-19 cost and bad debt recovery mechanisms where it doesn't have them, CFO Joseph Nigro said during Friday's Q1 earnings call.
By Larry Pearl • May 12, 2020 -
Fotolia
NV Energy crafts solar+storage subscription plan to keep large customers in its service
The utility said the new pricing structure would only affect large energy customers subscribing to the program.
By Iulia Gheorghiu • May 12, 2020 -
Herman K. Trabish
AEP CEO expects Texas, Louisiana decisions soon on 1.5 GW North Central wind project
With approvals from Arkansas, Oklahoma and federal regulators, Nick Akins is confident the $2 billion project will move forward. But at what size?
By Larry Pearl • Updated May 29, 2020 -
National Institute of Allergy and Infectious Diseases. (2020). "Novel Coronavirus SARS-CoV-2" [Image]. Retrieved from https://www.flickr.com/photos/nihgov/49565662436/in/album-72157713108522106/.
Dominion steels itself for market volatility, anticipating slow economic reopening in Virginia, South Carolina
The electric utility anticipates a slow recovery from pandemic conditions through the late summer as the states plan to lift restrictions.
By Iulia Gheorghiu • May 6, 2020 -
tesla
Tesla delays electric semi truck delivery to 2021, citing battery supply issues
CEO Elon Musk said the production schedule slowed as the company needed to increase battery production to serve all its products.
By S.L. Fuller • May 5, 2020 -
Getty Images
Dominion jacks up renewables and storage in Virginia IRP, following landmark clean energy rule
In its newest plan for the state, Dominion would add between 11 and 40 GW of solar in the next 25 years and up to 5 GW of offshore wind in the next 15 years, while still keeping some natural gas in the system.
By Iulia Gheorghiu • May 5, 2020 -
Getty Images
'Tremendous demand for stationary storage' outstrips Tesla's 2020 supply capability, Musk says
In the first quarter of 2020, though, the company saw a 51% drop in storage deployments compared to the prior quarter. Energy deployments in general were limited due to shutdowns, according to CFO Zachary Kirkhorn.
By Kavya Balaraman • May 1, 2020 -
GE renewables takes Q1 revenue hit, but results more about execution than COVID-19, CEO says
Hammered by the pandemic's impact on its aviation division, GE has launched a corporate-wide restructuring to cut billions in expenses, arguing that even its renewable division will benefit from lean manufacturing.
By John Funk • April 30, 2020 -
FERC confirms Goldman Sachs ties to renewables company, opening door for push on corporate transparency
The intervenor on the Goldman Sachs application plans to use this ruling to press federal regulators into more regularly defining affiliate relationships, such as in his JPMorgan/El Paso Electric appeal.
By Catherine Morehouse • April 30, 2020 -
Elizabeth Robins
Dominion tries again on rejected AMI plan amid Virginia's new clean energy law
Regulators rejected the petition to reconsider the $752 million proposal for smart meters, which the utility deems important to meeting state clean energy goals.
By Iulia Gheorghiu • Updated April 28, 2020 -
FirstEnergy's 'bullet-proof' pandemic strategy: $3.5B in liquidity, favorable rate structure
FirstEnergy has a strong liquidity position, continued access to capital markets and has implemented a pandemic operating plan developed years ago, the company said during Friday’s first quarter earnings call.
By John Funk • April 27, 2020 -
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 -
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 -
National Institute of Allergy and Infectious Disease. (2020). "Novel Coronavirus SARS-CoV-2" [Image]. Retrieved from https://www.flickr.com/photos/nihgov/49655318098/in/album-72157713108522106/.
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 -
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 -
National Institute of Allergy and Infectious Disease. (2020). "Novel Coronavirus SARS-CoV-2" [Image]. Retrieved from https://www.flickr.com/photos/nihgov/49655318098/in/album-72157713108522106/.
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 -
CDC/Alissa Eckert, MS. "covid-19 coronavirus on black background". Retrieved from https://www.cdc.gov/media/subtopic/images.htm.
'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
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