Clean tech investments overtake oil and gas financing in 2023 and are set to triple by 2035 Energize Weekly, November 6, 2024 Investments in low-carbon technologies are accelerating – accounting for more than 50 percent of all energy financing in 2023 for the first time – and are set to…
Minnesota Power’s agreement with stakeholders on lower rate increase approved October 25, 2024 The Minnesota Public Utilities Commission (MPCU) approved a settlement agreement on Minnesota Power’s 2024 electrical rate proposal on Thursday, October 24. This settlement will lower rates for all customers starting in early 2025. “The MPUC approved a…
Tampa Electric wants ‘egregious’ profit from Floridians to help ailing finances, lawyers allege October 22, 2024 As the months have dragged on in Tampa Electric’s quest for state approval to charge customers higher rates, consumer advocates have questioned why the company has been so steadfast in its pursuit of shareholder…
Michigan utilities criticized for handing out executive bonuses while outages persisted Oct. 09, 2024 During the same years an independent audit of Michigan’s two largest electric utilities faulted them for below-average service and glacial outage restoration times compared to peers in the Midwest, the power companies paid out bonuses to…
Load Growth To Drive Earnings At American Electric Power Oct. 07, 2024 American Electric Power Company (NASDAQ:AEP) is well positioned to outperform the market with a superior blend of growth and value. Incremental power demand in AEP’s markets creates a potentially decades long runway of above normal rate base growth,…
Eversource Energy Completes Exit of Offshore Wind Business September 30, 2024 Eversource Energy (NYSE: ES) today announced that it has completed the sale of its 50 percent interest in the 132-megawatt South Fork Wind project (South Fork Wind) and the 704-megawatt Revolution Wind project (Revolution Wind) to Global Infrastructure Partners…
Lawmakers to hold hearing after hot summer pumps electricity bills September 30, 2024 New Jersey lawmakers are set to explore how high temperatures and spiking electricity prices have led to surges in South Jersey residents’ power bills. The Assembly Telecommunications Committee on Wednesday will hear testimony about summer power bills…
Colorado Springs council approves increases in natural gas, electric rates Sep 24, 2024 Colorado Springs Utilities ratepayers will pay more for natural gas and electricity this fall due to anticipated increased costs in market prices as colder weather sets in. Beginning Oct. 1, the average residential ratepayer can expect to…
Electric rates rise with weather risks, the energy transition, and growing load growth Energize Weekly, September 25, 2024 After a decade of relatively flat rates, electricity prices surged in 2022 and have continued to rise to pay for the country’s energy transition, upgrading an aging grid, and meeting an increasing…
Federal $500M bailout for Muskrat Falls power delays to keep N.S. rate hikes in check September 17, 2024 Ottawa is negotiating a $500-million bailout for Nova Scotia’s privately owned electric utility, saying the money will be used to prevent a big spike in electricity rates. Federal Natural Resources Minister Jonathan…
Trend toward electric utility rate increases in regulated markets continues in 2024 September 9, 2024 Utility regulators in the United States are considering increases to electricity rates again this year as electric utilities seek to cover the investments needed to maintain and expand their systems. Utilities requested rate increases in…
Global clean tech and power market M&A led in 2024 by electricity generation deals Energize Weekly, September 11, 2024 Global clean technology and power market mergers and acquisitions have totaled $105 billion with 234 deals so far this year, slightly ahead of the 2023 pace, according to Enverus Research Intelligence.…
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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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? 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 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 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 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 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’ 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 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 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…
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