Southern California Edison Seeks to Recover $1.6 Billion of Wildfire-Related Losses Aug. 29, 2024 Southern California Edison, a unit of utility Edison International, said on Thursday it was seeking approval for a settlement agreement to recover nearly 60% of losses related to wildfires and mudslides in 2017 and 2018. Under…
Hawaiian Electric says customers should not see rate increases due to wildfire settlement
Hawaiian Electric says customers should not see rate increases due to wildfire settlement August 11, 2024 Customers of Hawaii’s largest electrical utility should not see bill increases due to the utility’s portion of a pending $4 billion Maui wildfire litigation settlement. Scott Seu, president and CEO of Hawaiian Electric’s parent…
CenterPoint Energy sees up to $1.3 bln in restoration costs after Hurricane Beryl
CenterPoint Energy sees up to $1.3 bln in restoration costs after Hurricane Beryl July 30, 2024 Electric and gas utility CenterPoint Energy (CNP.N), opens new tab said on Tuesday it expects total costs to restore facilities damaged by Hurricane Beryl to be in the range of $1.2 billion to $1.3…
FirstEnergy gains $1.2B in proceeds as sale of transmission subsidiary gets finalized
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…
CIB Invests $283.5 Million in New Alberta Transmission Line
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…
New rates approved for Duke Energy Carolinas customers in South Carolina
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…
N.C.’s ratepayer advocate: Duke Energy ‘failed’ to consider incentives that would cut costs & enable more clean energy
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…
Record temperatures will increase electricity demand, but not natural gas or coal prices
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…
Big energy projects moving fast, face $150 billion a year in cost overruns, Bain & Co. says
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…
CVEC alerts customers of rate increases due to rising costs and line upgrades
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…
PUCO allows higher AES Ohio transmission charges
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…
Entergy lights up $1.2 billion pension buyout with MetLife
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…
Biggest electric utility in Wyoming sues regulators over partial denial of rate hike
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…
Iberdrola to buy rest of US power firm Avangrid in $2.6 billion deal
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…
Anger builds over sweeping change in the way most Californians will pay for electricity
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 &…
Duluth electric utility owner Allete sold for $6.2 billion
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…
Alberta introduces legislation to reduce high power bill fees for Calgarians
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…
California reject bill to crackdown on how utilities spend customers’ money
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…
DOE Opens $25M Funding Opportunity To Support Tribal Clean Energy Projects
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…
Tri-State G&T faced with co-ops leaving and a stalled rate increase sees bond ratings drop
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…
Biden administration offers conditional $1.52B to Holtec Palisades to recommission Michigan nuclear power plant
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…
California Public Utilities Commission proposes to cut electricity rates
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…
Eversource seeks 19% rate hike on CL&P 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…
To lower energy costs, California wants to tie bills to income. That plan is making enemies
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…
Xcel plans higher electric rates during peak evening hours, lower overnight costs
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.,…
Global investment in clean tech and energy transition reached a record $1.8 trillion in 2023
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…
After referendum, Maine advocates and lawmakers look to bolster utility accountability and performance
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…
American Electric Power (AEP) to Sell Stake in New Mexico Asset
American Electric Power (AEP) to Sell Stake in New Mexico Asset Dec 28, 2023 American Electric Power Co. Inc. AEP and PNM Resources Inc. PNM have inked a deal to divest 50% stake each in New Mexico Renewable Development, LLC (“NMRD”) to Exus North America Holdings, LLC for approximately $230…
FERC sets exit fee formula ending four-year battle between Tri-State G&T and its largest co-op
FERC sets exit fee formula ending four-year battle between Tri-State G&T and its largest co-op Energize Weekly, January 3, 2024 After a four-year battle over how much it will cost the Colorado electric cooperative United Power to leave its wholesale power provider, Tri-State Generation and Transmission Association, federal regulators settled…
Xcel Energy natural gas, electricity bills to lower in 2024
Xcel Energy natural gas, electricity bills to lower in 2024 Dec 15, 2023 Xcel Energy told Colorado customers Friday that they can anticipate lower heating bills in the first quarter of 2024 because the wholesale cost of natural gas has decreased. Xcel said the average residential natural gas customer could…
What are time-of-use (TOU) rates? How do they work?
What are time-of-use (TOU) rates? How do they work? Dec 6, 2023 Across the country, utilities are beginning to introduce innovative rate structures for residential energy consumers. These rate structures–from time-of-use rates to demand charges to real-time pricing–all have a common goal: to incentivize customers to consume energy when the…
FirstEnergy’s 4 Pa. subsidiaries, including Met-Ed, to combine into one company
FirstEnergy’s 4 Pa. subsidiaries, including Met-Ed, to combine into one company Dec 10, 2023 First Energy Corp. has won regulatory approval to combine its four Pennsylvania electric-distribution subsidiaries, including Met-Ed, into one company. The Pennsylvania Public Utility Commission (PUC) approved that move on Thursday, Dec. 7, allowing for the combination…
Refunds on horizon for Colorado solar customers facing utility delays, after thousands waited months to connect to the power grid this year
Refunds on horizon for Colorado solar customers facing utility delays, after thousands waited months to connect to the power grid this year DECEMBER 1, 2023 In a state known for its sunshine, Colorado homeowners have been struggling to go solar this year. The Colorado Public Utilities Commission found the utility…
Eversource announces new discount rate to begin Friday in Connecticut
Eversource announces new discount rate to begin Friday in Connecticut Nov 30, 2023 Eversource’s new discount rate for low-income households in Connecticut will start Friday, according to an announcement Thursday from the energy company. The rate is for customers defined as having “financial hardship.” Depending on a household’s income, the…
PG&E bills to soar next year after regulators approve 13% rate increase Thursday
PG&E bills to soar next year after regulators approve 13% rate increase Thursday Nov 16, 2023 Monthly bills for Pacific Gas and Electric Co. customers will climb even higher next year after California regulators on Thursday unanimously approved allowing the utility giant to increase its rates for electricity and natural…
Duke Energy says sale of commercial solar and wind businesses signals a ‘new era’
Duke Energy says sale of commercial solar and wind businesses signals a ‘new era’ November 2, 2023 Duke Energy executives say the company is now in a “new era” after it sold off its two unregulated commercial renewable energy businesses last month. That leaves Charlotte-based Duke as a fully regulated…
Bills could protect Wyoming residents from future utility rate hikes
Bills could protect Wyoming residents from future utility rate hikes October 31, 2023 Three of seven bills reviewed by state lawmakers Friday morning aim to protect consumers from inflated utility rates while holding companies accountable for reliable energy. The Legislature’s Joint Corporations, Elections and Political Subdivisions Committee meeting happened to…
20 States That Have The Cheapest Electricity In The US
20 States That Have The Cheapest Electricity In The US October 23, 2023 In this article, we’ll list states with the most affordable electricity prices and explain their power grid. If you want to skip why certain regions pay less for energy than others, read 5 States That Have The…
Seattle City Light to raise rates after it burns through cash reserves
Seattle City Light to raise rates after it burns through cash reserves Oct. 12, 2023 Seattle City Light will raise rates in January to recoup millions of dollars it lost during a particularly poor year of hydropower production, mostly attributed to dry, warm weather and a wildfire that disrupted dam…
Utility stocks take a beating amid rising rates
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…
NRC approves transfer of three Energy Harbor nuclear plants to Vistra
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.…
Hawaiian Electric Industries Hires Utility Bankruptcy Expert As CFO
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.…
United Illuminating lawsuit claims electric rates approved by CT will force it to operate at a loss
United Illuminating lawsuit claims electric rates approved by CT will force it to operate at a loss Sep. 18, 2023 Arguing that an August decision by Connecticut regulators on utility rates will force it to operate at a loss, United Illuminating Co. filed a lawsuit on Monday in New Britain…
Indigenous tribes urge federal officials to deny loan request for Superior, WI natural gas plant
Indigenous tribes urge federal officials to deny loan request for Superior, WI natural gas plant September 11, 2023 Indigenous tribes in Minnesota, Michigan and Wisconsin have asked federal officials to deny a utility’s request for a loan to help build a natural gas-fired power plant on the shores of Lake…
CMP accused of overspending $53.6 million in storm recovery efforts
CMP accused of overspending $53.6 million in storm recovery efforts Sep 8, 2023 Maine’s advocate for utility customers wants state regulators to withhold more than $50 million that it says Central Maine Power Co. overspent in violation of staffing guidelines when restoring power to customers during a dozen storms in…
Losing member co-ops, Tri-State seeks to sell its electricity on the wholesale power market
Losing member co-ops, Tri-State seeks to sell its electricity on the wholesale power market Energize Weekly, September 13, 2023 Tri-State Generation and Transmission Association, a wholesale power supplier for rural electric cooperatives, is seeking to sell excess power on the open market as it loses some of its biggest members.…
FirstEnergy subsidiaries file settlement with the Pennsylvania PUC
FirstEnergy subsidiaries file settlement with the Pennsylvania PUC September 05, 2023 FirstEnergy Corporation’s announced Thursday its subsidiaries – Met Ed, Penelec, Penn Power, West Penn Power, Keystone Appalachian Transmission Company (KATCO), and Mid-Atlantic Interstate Transmission, LLC (MAIT) – had filed settlement agreements with the Pennsylvania Public Utility Commission (Pa PUC)…
Florida raises eyebrows with decision on $377 million of crucial federal funding: ‘Negative implications for Florida residents’
Florida raises eyebrows with decision on $377 million of crucial federal funding: ‘Negative implications for Florida residents’ August 19, 2023 Last month, Florida Governor Ron DeSantis rejected $377 million in federal energy-efficiency funding despite the Sunshine State experiencing record-setting heat. Bloomberg reported the money included “hundreds of millions of dollars…
APS says rate hike vital to keep homes in Phoenix powered, recover infrastructure costs
APS says rate hike vital to keep homes in Phoenix powered, recover infrastructure costs Aug 4, 2023 As a rate increase for Arizona Public Service customers is on the horizon, the president of the company said it is necessary to recover infrastructure costs and to continue powering Phoenix homes. Regaining…
Maine’s electric rates expected to rise through 2024 until solar subsidies ease
Maine’s electric rates expected to rise through 2024 until solar subsidies ease July 13, 2023 Mainers can expect more rate hikes for electricity through the end of next year until the solar subsidies that have driven up rates for consumers wind down. The Legislature is reining in its costly net…
