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

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…

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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…

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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.,…

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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

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…

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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…

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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

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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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.…

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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.…

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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…

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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…

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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…

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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

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.…

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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)…

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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…

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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…

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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…

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Xcel Energy seeks $45M rate increase — down from $312M — amid consumer outrage over rising bills

Xcel Energy seeks $45M rate increase — down from $312M — amid consumer outrage over rising bills Jul 11, 2023 Xcel Energy filed a plan for a $312 million electricity rate increase last year, but as hearings on the bill hike open this week at the Colorado Public Utilities Commission…

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Tax Incentives To Supercharge U.S. Clean Energy Transition

Tax Incentives To Supercharge U.S. Clean Energy Transition Jun 18, 2023 The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released guidance on key provisions in the IRA to expand the reach of the clean energy tax credits and help build projects more quickly and affordably.…

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Duke Energy to sell utility-scale Commercial Renewables business to Brookfield for $2.8 billion

Duke Energy to sell utility-scale Commercial Renewables business to Brookfield for $2.8 billion June 12, 2023 Duke Energy (NYSE: DUK) today announced it has reached an agreement to sell its unregulated utility scale Commercial Renewables business to Brookfield Renewable (“Brookfield”), one of the world’s largest owners and operators of renewable…

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Constellation Energy in Deal to Buy NRG’s Stake in South Texas Nuclear Project

Constellation Energy in Deal to Buy NRG’s Stake in South Texas Nuclear Project June 4, 2023 Constellation Energy is acquiring NRG Energy’s 44 percent stake in the 2,645-megawatt South Texas Project nuclear plant in Texas. The transaction is valued at $1.75 billion, with an effective purchase price of $1.4 billion…

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Three Wisconsin utilities apply for rate hikes in 2024, citing renewable energy construction costs

Three Wisconsin utilities apply for rate hikes in 2024, citing renewable energy construction costs May 15, 2023 Three utilities have submitted proposals to the Public Service Commission of Wisconsin to increase rates in 2024, and consumer advocates worry about how rate hikes could affect customers. Those utilities are Alliant Energy,…

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Initiative to create a consumer-owned electric utility and replace CMP and Versant will appear on Maine 2023 ballot

Initiative to create a consumer-owned electric utility and replace CMP and Versant will appear on Maine 2023 ballot May 9, 2023 An initiative to create a municipal consumer-owned electric transmission and distribution utility, replacing Central Maine Power and Versant Power, will be on the Maine ballot on Nov. 7, 2023.…

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Duke Energy’s Impact Report details progress toward ESG, business goals

Duke Energy’s Impact Report details progress toward ESG, business goals May 01, 2023 Duke Energy released a report that outlines its approach to sustainability and its progress on strategic business priorities and goals. Among the key points in Duke’s Impact Report, the company said its planned investment of $145 billion…

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California Republicans blast fixed-rate power bill proposal as ‘crazy’

California Republicans blast fixed-rate power bill proposal as ‘crazy’ Apr 24, 2023 California Republicans are asking state regulators to reject a proposal by California’s three largest power companies to create a fixed rate for services based on household income. “The ‘fixed-charge’ proposal is nothing but a shameful attempt to exploit…

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Electric prices for Connecticut residents likely to drop dramatically during the second half of 2023

Electric prices for Connecticut residents likely to drop dramatically during the second half of 2023 April 3, 2023 After three months of paying dramatically higher electric rates, there may be some relief coming this summer for a majority of Connecticut electric customers. The state’s two largest electric distribution companies, Eversource…

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US Power Plant Firm Goes Bankrupt After Winter Storm Penalties

US Power Plant Firm Goes Bankrupt After Winter Storm Penalties March 31, 2023 Lincoln Power LLC, the owner of two Illinois power plants, filed for bankruptcy after its financial strain was exacerbated by nearly $39 million in penalties levied by the biggest US electric-grid operator. The Chapter 11 filing allows…

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Power rate hike rebate during winter storms possible, court ruling reveals

Power rate hike rebate during winter storms possible, court ruling reveals March 20, 2023 When the temperatures dropped during Winter Storm Uri in 2021, prices for electricity went up. The bills that followed provided a shock that energy analysts like Ed Hirs, a University of Houston energy fellow, described as…

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Xcel Energy will cut Colorado bills again in April as natural gas costs continue to fall

Xcel Energy will cut Colorado bills again in April as natural gas costs continue to fall Mar 14, 2023 Xcel Energy is again cutting natural gas costs passed through to consumers starting with April bills, the third price decrease announced in two months, even as a special legislative committee pursues…

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Global bank financing for low-carbon energy rose 15 percent to $550 billion in 2022

Global bank financing for low-carbon energy rose 15 percent to $550 billion in 2022

Global bank financing for low-carbon energy rose 15 percent to $550 billion in 2022 Energize Weekly, March 8, 2023 Investments in low-carbon energy supply rose by 15 percent in 2022 – the fastest growth rate in seven years – to $550 billion, according to BloombergNEF’s (BNEF) annual report on energy…

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General Assembly deal sets Dominion profits for two years while overhauling regulatory system

General Assembly deal sets Dominion profits for two years while overhauling regulatory system FEBRUARY 25, 2023 The decision came down to the wire, but on Saturday afternoon Gov. Glenn Youngkin’s office and the General Assembly reached a deal on sweeping legislation to adjust Dominion Energy’s profit margin and reform the…

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