Duluth electric utility owner Allete sold for $6.2 billion May 6, 2024 A Canadian pension board and a New York-based investment firm have agreed to purchase Allete, the parent company of Duluth-based utility Minnesota Power, for $6.2 billion. The partnership paid $67 per share to acquire Allete and plans to take the company private, pending…
Alberta introduces legislation to reduce high power bill fees for Calgarians April 22, 2024 The Alberta government is stepping in to stop Calgary residents from being forced to pay hefty surcharges on their power bills. Utilities Minister Nathan Neudorf introduced a bill Monday that, if passed, would ban cities from using variable rates to calculate…
California reject bill to crackdown on how utilities spend customers’ money April 22, 2024 California lawmakers on Monday rejected a proposal aimed at cracking down on how some of the nation’s largest utilities spend customers’ money. California’s investor-owned utilities can’t use money from customers to pay for things like advertising their brand or lobbying for…
DOE Opens $25M Funding Opportunity To Support Tribal Clean Energy Projects APRIL 15, 2024 The U.S. Department of Energy has opened a funding opportunity making up to $25 million available to support clean energy technology deployment on Tribal lands. Certain projects fueled by biomass, biogas, renewable natural gas (RNG) or renewable hydrogen are among those…
Tri-State G&T faced with co-ops leaving and a stalled rate increase sees bond ratings drop Energize Weekly, April 10, 2024 Facing the departure of four member cooperatives and the failure to get federal regulators to approve a rate increase, Tri-State Generation and Transmission Association bonds were downgraded by two rating agencies. Fitch Ratings and Moody’s…
Biden administration offers conditional $1.52B to Holtec Palisades to recommission Michigan nuclear power plant March 29, 2024 As a loan guarantee for Holtec Palisades, the U.S. Department of Energy (DOE) announced that its Loan Programs Office (LPO) agreed to a conditional commitment of up to $1.52 billion to Holtec Palisades to finance the restoration of…
California Public Utilities Commission proposes to cut electricity rates Mar 29, 2024 Paying the electric bill is a year-round struggle for many people in San Diego. But now, there’s a proposal at the state level to drastically slash rates. The California Public Utilities Commission is looking at a proposal to cut electricity rates for customers…
Eversource seeks 19% rate hike on CL&P customers February 15, 2024 Eversource filed a request Thursday for a $784 million rate adjustment that would bump its Connecticut Light & Power electric rates by nearly 19%, costing an average residential customer an additional $38 a month on May 1. The United Illuminating Company, an Avangrid subsidiary…
To lower energy costs, California wants to tie bills to income. That plan is making enemies February 12, 2024 California is already home to some of the highest energy costs in the country, and those prices are only expected to rise as the state powers more of its economy with clean electricity. Now a state…
Xcel plans higher electric rates during peak evening hours, lower overnight costs FEBRUARY 6, 2024 Xcel has asked state utility regulators to let it switch Minnesota electric customers to variable rates, which on summer weekdays would be seven times more expensive from 3-8 p.m. than between midnight and 6 a.m., and nearly twice as expensive…
Global investment in clean tech and energy transition reached a record $1.8 trillion in 2023 Energize Weekly, February 7, 2024 Global investments in the energy transition from fossil fuels to clean tech climbed 17 percent in 2023 to a record $1.8 trillion, according to a study by the energy research group BloombergNEF. The largest investments…
After referendum, Maine advocates and lawmakers look to bolster utility accountability and performance January 9, 2024 Following the defeat of a ballot measure that sought to replace Central Maine Power (CMP) and Versant with a consumer-owned power company, policymakers and advocates are looking to explore other ways of further regulating and improving service by the…
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