Utility stocks take a beating amid rising rates October 3, 2023 Utility stocks took a breather on Tuesday following the sector’s worst daily performance since April 2020. The SPDR S&P 500 Utility Sector ETF (XLU) fell 4% on Monday and recovered to end the next day higher. Year-to-date the ETF is down a whopping 21%.…
NRC approves transfer of three Energy Harbor nuclear plants to Vistra 10.3.2023 The Nuclear Regulatory Commission (NRC) approved the transfer of the operating licenses of Energy Harbor’s three nuclear plants to Vistra. In March 2023, Vistra reached an agreement to acquire Energy Harbor in a $3.4 billion deal, including debt. Read more
Favorable economics, the need for new reserves boost global oil exploration investments Energize Weekly, October 3, 2023 Global oil and gas exploration and production investments are set for a big rebound, according to energy analysts Wood Mackenzie and Rystad Energy. While not reaching the levels of the 2006-to-2014 boom years, budgets are recovering with estimated…
EPA Awards Nearly $8M For Research Grants To Advance Groundwater Availability And Quality September 21, 2023 Today, the U.S. Environmental Protection Agency (EPA) announced $7,837,196 in funding to four institutions to research the use and risks of enhanced aquifer recharge (EAR) to improve groundwater availability and quality. EAR is the practice of using water sources…
Appeals Court Blocks Biden Bid to Limit Oil Drilling Auction September 25, 2023 A federal court left in place an order forcing the Biden administration to expand an upcoming sale of offshore drilling rights in the Gulf of Mexico, while giving the government more time to hold the auction. The decision by the Fifth Circuit…
US natgas futures steady on healthy demand, lower supply Sept 25 U.S. natural gas futures steadied on Monday and consolidated gains from the previous session, buoyed by healthy demand and slightly lower output projections, even as the market transitions into the shoulder period for gas demand. Demand for power usually moderates during the shoulder period,…
Hawaiian Electric begins restoration work in Lahaina at request of Maui Emergency Operations Center September 21, 2023 Hawaiian Electric reports that replacement of poles and electrical equipment damaged in last months windstorms and wildfires in Lahaina will get underway at the request of Maui emergency management officials. This work will restore power to wastewater pumps…
Constellation’s Carbon-Free Nuclear Fleet Ran at Near 100% Capacity During Hottest Summer on Record Sept. 21, 2023 While wildfires, hurricanes and extreme heat battered Americans from coast to coast during the hottest summer in Earth’s recorded history, Constellation’s carbon-free nuclear units ran nearly 100% of the time, powering more than 15 million homes and businesses.…
Xcel plans to replace Colorado power plant in Pueblo with renewable energy battery system SEPTEMBER 25, 2023 Xcel Energy recently announced its intent to construct a long duration energy storage system at the site of a coal-fired power plant in Pueblo. Once operational, the system in Colorado “will allow Xcel Energy to store renewable energy…
Hawaiian Electric Industries Hires Utility Bankruptcy Expert As CFO September 20, 2023 A utility dealmaker with experience in mergers, restructuring and bankruptcy will become chief financial officer for Hawaiian Electric Industries next month as HEI and its subsidiaries address legal, financial and political issues related to the deadly Maui wildfires. HEI plans to pay investment…
U.S. solar installations to set a record in 2023 despite tariff, supply chain, and funding uncertainties Energize Weekly, September 27, 2023 Solar installations in the U.S. are poised to reach a record 32 gigawatts (GW) of new capacity in 2023, a 52 percent increase over last year, even as the sector faces uncertainties about tariffs,…
Solar, battery storage on deck for WWTP Sep 17, 2023 Solar panels and storage batteries could help Traverse City Regional Wastewater Treatment Plant shave its peak power use. City commissioners last week approved a $257,892 contract with Jacobs, the company that operates the plant, to design and manage the rooftop solar and storage battery project.…
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