FirstEnergy gains $1.2B in proceeds as sale of transmission subsidiary gets finalized July 19, 2024 FirstEnergy Corp. on July 17 received the remaining $1.2 billion in proceeds from the sale of its FirstEnergy Transmission LLC (FET) subsidiary, and said it will use the funds to further improve its balance sheet and support its five-year, $26…
CIB Invests $283.5 Million in New Alberta Transmission Line July 11, 2024 The Canada Infrastructure Bank (CIB) is providing Alberta electricity transmission companies, AltaLink and ATCO Electric, with a loan of $208.16 million to construct a transmission line, the Central East Transfer-Out project, in the counties of Red Deer, Lacombe and Stettler. The loan will…
New rates approved for Duke Energy Carolinas customers in South Carolina Jul 08, 2024 The Public Service Commission of South Carolina (PSCSC) has approved new customer rates based on a settlement agreement with almost all parties in the Duke Energy Carolinas rate review request filed with the commission in January of this year. The changes…
N.C.’s ratepayer advocate: Duke Energy ‘failed’ to consider incentives that would cut costs & enable more clean energy June 25, 2024 Duke Energy’s plan to zero out its carbon pollution all but ignores a federal loan program that could save ratepayers hundreds of millions of dollars and enable more clean energy, the state’s ratepayer advocate…
Record temperatures will increase electricity demand, but not natural gas or coal prices Energize Weekly, June 26, 2024 Record temperatures are set to increase electricity demand this summer, but analyses find that a combination of ample gas storage and more renewable generation will help prevent a spike in natural gas prices. “We expect the U.S.…
Big energy projects moving fast, face $150 billion a year in cost overruns, Bain & Co. says Energize Weekly, June 19, 2024 The scale and speed of the energy transition risks project delays and setbacks leading to cost overruns of 15 percent to 20 percent, equal to $150 billion a year, according to research paper…
CVEC alerts customers of rate increases due to rising costs and line upgrades Jun 11, 2024 The Central Virginia Electric Cooperative (CVEC) has announced that customers will see a rate increase on their bills starting on June 12. This comes after the CVEC filed a streamlines rate case with the Virginia State Corporation Commission on…
PUCO allows higher AES Ohio transmission charges June 3, 2024 State regulators recently approved a bid by Dayton electric utility AES Ohio to increase its transmission cost recovery rider or charge. In so doing, the Public Utilities Commission of Ohio (also known as the “PUCO”), overruled an objection from the Office of the Ohio Consumers’…
Entergy lights up $1.2 billion pension buyout with MetLife May 28, 2024 Entergy Corp., New Orleans, entered into an agreement to purchase a group annuity contract from Metropolitan Life Insurance Co. to transfer nearly $1.2 billion in U.S. pension liabilities. The utility company signed the agreement May 23 to transfer the liabilities representing 3,447 retirees…
Biggest electric utility in Wyoming sues regulators over partial denial of rate hike May 21, 2024 Pacificorp, which owns the largest electric utility serving Wyoming, has sued state regulators. The parent company Rocky Mountain Power is asking the U.S. District Court to overturn the Wyoming Public Service Commissioners’ decision in January to only approve a…
Iberdrola to buy rest of US power firm Avangrid in $2.6 billion deal May 17, 2024 Spanish utility Iberdrola (IBE.MC), opens new tab has agreed to acquire the remaining 18.4% stake in Avangrid (AGR.N), opens new tab that it does not already own, the U.S. subsidiary said on Friday, in an all-cash deal worth about…
Anger builds over sweeping change in the way most Californians will pay for electricity May 7, 2024 With little debate two years ago, state lawmakers passed a complex energy bill that enabled a sweeping change in how most Californians are billed for electricity. The legislation was what Pacific Gas & Electric had asked for from…
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