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…
Avangrid agrees to pay $48m to terminate offshore wind deal
Avangrid agrees to pay $48m to terminate offshore wind deal Jul 17, 2023 Avangrid and the State’s three major utilities on Monday agreed to terminate a power purchase agreement they signed just last year, with the offshore wind developer agreeing to pay a total of $48 million to put the…
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…
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.…
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…
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…
Xcel Energy will ask state regulators to reconsider electric rate hike
Xcel Energy will ask state regulators to reconsider electric rate hike June 2, 2023 Xcel Energy says it will ask state regulators to reconsider their decision to grant a far-smaller increase in electric rates than the utility requested. On Thursday, the Minnesota Public Utilities Commission approved a rate increase for…
Eversource working its way out of wind farm development ventures
Eversource working its way out of wind farm development ventures 5/30/23 Eversource has announced plans to sell its 50 percent stake in offshore wind lease areas totaling 175,000 square miles off the coast of Massachusetts for $625 million to its wind partner, Danish energy giant Orsted. Last May, Eversource CEO…
FPL proposes another rate reduction beginning in July
FPL proposes another rate reduction beginning in July May 19, 2023 After an initial rate reduction early on in May, Florida Power & Light is proposing another rate decrease, this time a $256 million cut to take effect in July. “This is more positive news for our customers,” said Armando…
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,…
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.…
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…
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…
$2.8 billion sale of Eastern Kentucky power company will not go forward
$2.8 billion sale of Eastern Kentucky power company will not go forward APRIL 17, 2023 The previously announced sale of Kentucky Power, the utility company that serves a large portion of Eastern Kentucky, has been canceled, the company announced Monday. In December 2021, American Electric Power, the parent company of…
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…
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…
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…
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…
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…
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…
Connecticut consumers hit hard by dramatic spike in electric rates
Connecticut consumers hit hard by dramatic spike in electric rates Feb. 11, 2023 The majority of Eversource and United Illuminating Co. customers have begun receiving their first electric bills since rates were significantly increased, and some have reported seeing their bills nearly doubling. “Is this really happening?” Lydtz Thomas, a…
Judge dismisses lawsuit over TVA’s long-term deals
Judge dismisses lawsuit over TVA’s long-term deals Feb. 7, 2023 A federal judge has dismissed a lawsuit by environmental groups that challenged how the nation’s largest public utility signs up local power providers for two-decade contracts. A ruling by U.S. District Judge Thomas L. Parker in Memphis last week sided…
Renewable tax credits and changes on the grid are making most coal-fired plants uneconomical
Renewable tax credits and changes on the grid are making most coal-fired plants uneconomical Energize Weekly, February 8, 2023 A combination of new federal incentives for renewable generation and a shift in the way electric grids are managed has led to a point where it is more expensive to operate…
PUC approves electric market redesign in ‘big step for ERCOT’
PUC approves electric market redesign in ‘big step for ERCOT’ Jan 19, 2023 The Public Utility Commission of Texas on Thursday approved a redesign of the state’s electric market, recommending a new model they said will improve grid reliability, but critics said could pass more costs onto the consumer. The…
Puerto Rico to privatize power generation amid outages
Puerto Rico to privatize power generation amid outages January 15, 2023 Puerto Rico announced Sunday that it plans to privatize electricity generation, a first for a U.S. territory facing chronic power outages as it struggles to rebuild a crumbling electric grid. The move marks the beginning of the end for…
AEP Ohio asking for rate increase to boost system reliability after last summer’s storms
AEP Ohio asking for rate increase to boost system reliability after last summer’s storms Jan. 6, 2023 Several months after powerful storms whacked AEP Ohio’s transmission system and forced the power company to turn off electricity to some Columbus-area neighborhoods to avoid a larger power loss, AEP is now asking…
Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm
Colorado co-ops say Xcel Energy mismanaged natural gas supplies during 2021 storm Energize Weekly, January 11, 2023 The fallout from the soaring natural gas prices created by Winter Storm Uri in 2021 continues as four rural Colorado electric cooperatives have filed a complaint with federal regulators saying they were overcharged…
Pleasants Power Purchase Under Consideration in West Virginia PSC Order
Pleasants Power Purchase Under Consideration in West Virginia PSC Order JAN 3, 2023 An order from the West Virginia Public Service Commission last week approving rate increases for two power companies also included a provision for those companies to evaluate the possible purchase of the Pleasants Power plant. In an…
PG&E wildfire and catastrophe proposal may trigger higher monthly bills
PG&E wildfire and catastrophe proposal may trigger higher monthly bills December 19, 2022 Higher monthly bills might jolt PG&E customers due to the utility’s request that state regulators allow the company to collect more revenue for its spending linked to wildfires and catastrophes. PG&E wants to recover costs that arose…
Wholesale on-peak electricity rates set to jump this winter by as much as 60 percent, EIA says
Wholesale on-peak electricity rates set to jump this winter by as much as 60 percent, EIA says Energize Weekly, December 14, 2022 On-peak wholesale and retail electricity prices are set to rise across the country this winter, with some regional wholesale rates jumping as much as 60 percent compared to…
Duke Energy Kentucky files request for rate adjustment with public service commission
Duke Energy Kentucky files request for rate adjustment with public service commission December 05, 2022 Duke Energy Kentucky recently filed a request with the Kentucky Public Service Commission (PSC) to review its electric distribution rates and approve a rate adjustment. Overall, the company has proposed an adjustment that includes a…
Georgia Power’s long campaign for state approval to sign off on a 12% rate hike nears final showdown
Georgia Power’s long campaign for state approval to sign off on a 12% rate hike nears final showdown November 28, 2022 The final several weeks of Georgia Power’s $2.9 billion rate case will determine whether state regulators sign off on plans for customers to pay hundreds of dollars more per…
Biden grants PG&E $1.1 billion to keep Diablo Canyon nuclear plant open
Biden grants PG&E $1.1 billion to keep Diablo Canyon nuclear plant open NOV 21 2022 The Biden administration on Monday said it’s providing Pacific Gas & Electric Co. with a $1.1 billion grant to help the company prevent the closure of Diablo Canyon, California’s last nuclear power plant. Diablo Canyon…
Eversource, UI will cut electric rates for some, but not until 2024
Eversource, UI will cut electric rates for some, but not until 2024 November 21, 2022 The electric bills for roughly 1.5 million power customers in Connecticut are expected to spike dramatically come January, but a long-awaited initiative that would ease monthly energy costs for the state’s lowest-income residents is still…
Big Utilities See Inflation Reduction Act Helping Reduce Customers’ Energy Bills
Big Utilities See Inflation Reduction Act Helping Reduce Customers’ Energy Bills November 14, 2022 Utility giants planning to spend billions of dollars to move away from fossil fuels see the Inflation Reduction Act helping to reduce the cost of that transition as its customers grapple with high energy bills. Executives…
ComEd to file multi-year grid plan, rate plan
ComEd to file multi-year grid plan, rate plan November 07, 2022 ComEd, a Chicago-based energy company, will file a multi-year grid plan along with a four-year rate plan in line with the requirements of the Climate and Equitable Jobs Act (CEJA). The plan will align closely with the state of…
PNM customers continue to pay for San Juan coal plant that’s no longer operating
PNM customers continue to pay for San Juan coal plant that’s no longer operating Nov 7, 2022 In the two months since the San Juan Generating Station shut down in New Mexico, the region’s customers have been paying the same rate for a facility that’s no longer giving them energy.…
American Electric Power hit with second subpoena tied to nuclear bailout bill
American Electric Power hit with second subpoena tied to nuclear bailout bill Oct. 28, 2022 American Electric Power has been hit with a second subpoena from federal regulators looking for information tied to the power company’s involvement in the scandal-ridden House Bill 6 legislation enacted three years ago to bail…
FirstEnergy cuts off its ‘dark money’ spigot in Ohio, disclosures show
FirstEnergy cuts off its ‘dark money’ spigot in Ohio, disclosures show Oct. 24, 2022 Akron-based utility FirstEnergy has stopped using “dark money” in Ohio after agreeing to disclose future contributions, temporarily abandoning a controversial political spending tactic that was a critical cog in the largest bribery scandal in state history.…
