Corporate News: Page 29
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Southwest Generation purchase of Xcel gas plant to raise JPMorgan affiliation question again at FERC
JPMorgan's legal relationship with the $12 billion Infrastructure Investments Fund was first raised during the sale of El Paso Electric.
By Catherine Morehouse • April 9, 2020 -
PG&E bankruptcy contingency plan approved, but fire lawyers remain concerned about payouts
The tort claimants committee fears changes to PG&E's bankruptcy plan and the COVID-19 pandemic could drive down the value of stock payouts promised to fire victims.
By Kavya Balaraman • April 8, 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 -
NextEra mulls bid for Evergy amid market volatility, may face competing offers from AEP, Ameren: Report
NextEra continues to show interest in purchasing an electric utility after JEA's board of directors in 2019 rejected its bid and several others to buy the municipal utility.
By Iulia Gheorghiu • April 8, 2020 -
Xcel sells 720 MW gas plant less than 3 months after purchasing through unregulated subsidiary
The company's rapid turnaround is in response to shareholders who preferred the utility remain fully regulated.
By Catherine Morehouse • April 7, 2020 -
S&P: Some utilities have less 'financial cushion' to maintain credit quality in recession
Ratings agencies believe utilities are still in a better place than most industries in the current crisis, but some are in a more precarious position than others.
By Matthew Bandyk • April 6, 2020 -
Fotolia
Deep DiveBlackRock, Morgan Stanley to utilities: Tackle climate-related risks or lose market value
Analyst research shows utilities that address climate-related physical and transition risks earn higher valuations from investors.
By Herman K. Trabish • April 6, 2020 -
"Empire State Building & Con Ed East River Station @ Stuyvesant, Manhattan, NYC" by Axel Taferner is licensed under CC BY-SA 2.0
Con Edison reaches 170 confirmed COVID-19 cases, 3 deaths, as risks rise for utility workers
Daily numbers continue climbing for the utility whose workforce serves New York City, the area that faces the largest outbreak of the novel coronavirus. U.S. utility workers may be at risk of contracting the virus from continued customer interactions.
By Iulia Gheorghiu • Updated April 3, 2020 -
FirstEnergy Solutions successor faces $500M in damages and a new hearing before FERC
Ohio Valley Electric Corporation is demanding the money for damages stemming from a court allowing FirstEnergy Solutions to break its long-term contract with the power provider.
By John Funk • April 2, 2020 -
DTE to add about 350 MW renewables by 2022, looks to improve competitive bidding process
The company filed an updated renewable energy plan Tuesday and plans to ask regulators later this year to approve contracts for a wind project and two solar projects it has selected through a recent RFP process.
By John Funk • April 2, 2020 -
El Paso Electric $4.3B acquisition nears final approval as FERC dismisses concerns about JPMorgan link
The deal has attracted scrutiny from several U.S. senators and Public Citizen over charges the buyer is fundamentally controlled by the investment bank, which could lead to conflicts of interest with ratepayers of the regulated utility.
By Matthew Bandyk • Updated July 28, 2020 -
Opinion
Will PG&E be forced to turn to PPAs to get a bankruptcy exit plan confirmed?
The company could achieve $2.5 billion in potential savings from renegotiating existing power purchase agreements, the authors write.
By Jeff Manning and Steven Wilamowsky • March 31, 2020 -
PG&E fire victims concerned that COVID-19 market turmoil could affect payouts
Fire victims, along with PG&E's other creditors, will need to vote on the company's proposed reorganization plan by May 15.
By Kavya Balaraman • March 26, 2020 -
Pixabay
'Defensive' utility stocks hit hard amid COVID-19 fears; Xcel, ConEd among those expected to recover quickly
It's been about a month since broad stock market indices began falling amid novel coronavirus concerns. The utility sector has followed suit, but experts say some have a better chance for a speedy recovery.
By Robert Walton • March 24, 2020 -
PG&E reaches deal with Newsom, pleads guilty to involuntary manslaughter as bankruptcy reorganization deadline nears
The agreement with California Gov. Gavin Newsom is "the final component of [PG&E's] comprehensive restructuring," the company said in a motion Friday.
By Kavya Balaraman • March 24, 2020 -
DTE updates resource plan blasted by critics for favoring coal and gas over renewables
The new plan complies with a demand by Michigan regulators that the company take another look at customer energy efficiency programs as well as the cost of building more solar and wind to move away from coal and gas.
By John Funk • March 24, 2020 -
Photo illustration by Brian Tucker/Utility Dive; photograph by kunchainub via Getty Images
Tracking the impacts of coronavirus on the US power sector
Oct. 8: How Austin Energy simultaneously managed COVID-19 and a new carbon price adder; Public-private partnerships hold the key to a clean energy future post-COVID
By Nami Sumida • Updated Oct. 8, 2020 -
Deep Dive
PG&E, SCE abandon big microgrid plans for temporary emergency measures as wildfire season nears
Regulators' push to implement a law requiring microgrid rollouts is being frustrated by the costs of traditional generation and clean energy complexities.
By Herman K. Trabish • March 23, 2020 -
CPUC's $2.1B wildfire fine could derail bankruptcy exit financing commitments: PG&E
The utility urged regulators to instead adopt a $1.68 billion penalty it negotiated last year.
By Kavya Balaraman • March 20, 2020 -
ComEd CEO: Exelon expects to have pandemic plan in place through the summer
The regulated utility subsidiaries are adjusting their plans to the specific characteristics of the coronavirus under the expectation that it could last a while.
By Iulia Gheorghiu • March 19, 2020 -
Getty
Brookfield to acquire rest of Terraform Power, creating 36 GW, $50B renewable energy giant
The deal is part of a growing trend of investment capital looking for returns in the renewable energy market, with increasing interest in existing facilities, an energy attorney told Utility Dive.
By Larry Pearl • March 18, 2020 -
PG&E bankruptcy financing proposal approved amid concerns of coronavirus economic impact
U.S. Bankruptcy Judge Dennis Montali approved the company's proposed backstops, which include $9 billion in equity and $10.8 billion in debt.
By Kavya Balaraman • March 17, 2020 -
National Institute of Allergy and Infectious Disease. (2020). "Novel Coronavirus SARS-CoV-2" [Microscope image]. Retrieved from https://www.flickr.com/photos/nihgov/49565158853/.
Duke, AEP, Dominion among utilities to halt service shutoffs in coronavirus response
As President Donald Trump declared the spread of the novel coronavirus a national emergency, several major utilities halted power shutoffs.
By Robert Walton • March 16, 2020 -
PG&E reaches settlement with FEMA to reduce wildfire payouts by $2.9B, lawyer says
The Federal Emergency Management Agency will reduce its claims from nearly $4 billion to $1 billion and agreed to have them subordinated to claims filed by victims of the wildfires, attorneys said at a hearing Tuesday.
By Kavya Balaraman • March 11, 2020 -
Courtesy of Advanced Energy Economy
Gov Northam signs clean energy bill in dramatic transition for Virginia amid dispute over customer costs
Virginia regulators put a high price on implementing the Clean Economy Act, which calls for 3.1 GW of storage by 2035, along with other measures. But supporters say some benefits could not be quantified.
By Iulia Gheorghiu • Updated April 13, 2020 -
Blackstone buys NRStor subsidiary, as financial sector increasingly moves into energy storage
Battery storage is quickly becoming a more stable investment, particularly as demand for renewable energy grows.
By Matthew Bandyk • March 9, 2020
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