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…
CenterPoint Saw Data Center Demand ‘Dramatically Change’ Over Summer Oct. 28, 2024 The leaders of CenterPoint Energy Inc. this summer saw “a fundamental shift” in data center activity in their Greater Houston footprint, CEO Jason Wells told analysts Oct. 28. After beginning the season with about 1 gigawatt of demand…
Supreme Court to consider if polluting industries can go court-shopping October 21, 2024 The Supreme Court agreed to hear three cases Monday from industry groups seeking to choose how to fight federal environmental regulations, highlighting a long-running battle over efforts to pick conservative or liberal courts parties believe will be…
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…
World entering the “age of electricity” as demand outpaces all other forms of energy Energize Weekly, October 23, 2024 The world is set to enter the “age of electricity” as demand has grown more quickly than any other energy source and is set to accelerate even more, according to the…
DOE’s No 2: Congress needs to move on permitting reform 10/15/2024 Biden administration officials often tout their historic clean energy investments and how they’re creating real, long-lasting momentum in the fight against climate change. But one of those officials, Deputy Energy Secretary David Turk, also has a warning about that…
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…
Governor Gianforte Celebrates Nearly $1 Billion Energy Investment in Montana September 20 2024 Governor Greg Gianforte yesterday cut the ribbon on NextEra Energy Resources’ Clearwater Wind Energy Center in Miles City and celebrated the company’s nearly $1 billion investment in Montana. “We’re ramping up energy production in Montana with our…
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…
Renewables, cleantech sector will grow regardless of who wins the U.S. presidential election Energize Weekly, September 18, 2024 The results of the U.S. presidential election – even if there is a victory by Donald Trump – will likely not derail growth in the renewable energy and cleantech sectors, according to…
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…
Residential solar prices drop as size of installations grow and more batteries are added Energize Weekly, September 4, 2024 The size of residential solar systems has been rising as solar module efficiency increases and solar panel costs decline, according to the Lawrence Berkeley National Laboratory’s annual Tracking the Sun report.…
FERC rejects Basin Electric’s bid for special cryptocurrency mine and large load rates Energize Weekly, August 28, 2024 The Basin Electric Power Cooperative’s plan for special rates for cryptocurrency mines and other large loads was rejected by the Federal Energy Regulatory Commission (FERC), which said the co-op had not proved…
Data centers driving Oklo’s nuclear project pipeline 8.15.2024 Advanced nuclear company Oklo now has non-binding letters of intent for about 1,350 MW of microreactor capacity, a 93% increase from its 700 MW project pipeline in July 2023, the company told investors in its Q2 earnings call this week. Of the…
Market problems, poor planning causing price hikes in nation’s largest electric market, critics say August 20, 2024 After years of climbing electric prices nationwide, customers in the United States’ largest power market are about to get squeezed harder. Last month, PJM, which coordinates the flow of electricity for an area…
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…
Appeals Court rules against Duke Energy in competition for Fayetteville’s business August 5, 2024 The 4th US Circuit Court of Appeals has thrown out a lower court order and ruled against Duke Energy in a dispute over providing electricity to customers in Fayetteville. A competitor argued that Duke had engaged…
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…
Maine regulators will map out the next decade’s demands on the power grid July 29, 2024 An initial 10-year plan by the state for guiding Maine’s electric utilities includes goals of improving the reliability and resilience of the power grid system in the face of climate change — while also…
U.S. electricity demand to rise spurred by the growth of data centers and electric vehicles Energize Weekly, July 31, 2024 After remaining relatively flat for the last 20 years, U.S. electricity demand is projected to grow 13 percent by 2030, boosted by demands from data centers, electric vehicles (EVs) and…
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…
Seattle City Light to increase rates due to higher demand, rising energy costs July 15, 2024 The Seattle City Light Department recently announced a plan to increase rates for customers amid a growing energy demand and heightened labor costs. Customers could see a 5.4% rate increase in 2025 and 2026,…
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…
How Chevron’s fall could remake the energy sector 07/01/2024 The Supreme Court’s decision Friday to give judges more authority over federal agencies creates new hurdles for the Biden administration as it seeks to promote low-carbon energy and address climate change. Forty years after the justices first decided Chevron v. NRDC,…
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…
Casar leads 22 House Democrats in call for federal electric grid corridors in Texas 06/24/24 Rep. Greg Casar (D-Texas) on Monday led 22 members of Congress in requesting that the Department of Energy add Texas to the areas serviced by proposed federal corridors for electrical transmission. In May, the department…
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…
As heat wave sweeps across Michigan, many will see impact of summer peak electric rates June 17, 2024 As Michiganders grapple with scorching temperatures this week, special electric rates meant to lessen strain on the grid and promote energy savings are in effect for millions of residents. For many customers…
Clean energy mandate for Vt. utilities becomes law after Democrats override veto June 17, 2024 The biggest energy policy to come out of Montpelier this year is hitting home in concrete ways for two Vermont mothers who showed up to the Statehouse on Monday. The legislation requires all Vermont utilities…
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…
City council rejects Power San Diego proposal Jun 10, 2024 The push by a voter initiative to assume control of the power responsibilities of San Diego Gas & Electric collected over 30,000 signatures. This compelled the city council to deliberate on whether San Diego voters would have the opportunity to…
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…
AI is poised to drive a doubling in data center electricity demand by 2030, studies say Energize Weekly, June 5, 2024 Data centers, spurred by increased artificial intelligence applications, could double their demand for electricity in the U.S. reaching 9.1 percent of the nation’s electricity load by 2030, according to…
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…
FERC adopts sweeping transmission planning regulations with the aim of speeding projects Energize Weekly, May 22, 2024 The Federal Energy Regulatory Commission (FERC) adopted a sweeping new regulation, on May 13, aimed at spurring the planning and construction of new transmission lines to meet the growing needs of the nation’s…
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…
States rethink data centers as ‘electricity hogs’ strain the grid APRIL 30, 2024 State Sen. Norm Needleman championed the 2021 legislation designed to lure major data centers to Connecticut. The Democratic lawmaker hoped to better compete with nearby states, bring in a growing industry, and provide paychecks for workers tasked…
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