Financial

  • April 28--Federal regulators have pre-empted controversial state decisions made last month approving profit guarantees for FirstEnergy and AEP, saying the electric utilities must first apply to them. In two orders late Wednesday in response to complaints about the Public Utilities Commission of Ohio's approvals of what are called "Power Purchase Agreements" or PPAs for Akron-based FirstEnergy ...
  • April 27--Customers of West Penn Power could soon see a rate increase, as FirstEnergy Corp. announced Wednesday it plans to ask the Pennsylvania Utility Commission for permission for a 10.5 percent rate increase. The company announced with its first-quarter earnings report that it plans to file the request Thursday. If approved, the new rates would go into effect in January. Company officials ...
  • The World Bank Board of Executive Directors approved a US$30 million loan for the Power Sector Financial Recovery Program-for-Results (PforR) for Armenia. This Project will support the Government's efforts to maintain adequate and reliable electricity supply by improving the financial condition and governance of the state-owned power generation companies and the ...
  • April 28--Hawaii Natural Energy Institute, a research unit at the University of Hawaii at Manoa, released a study Tuesday outlining the different steps Hawaii could take to change the ownership model of the state's electric utility. Prepared by Denver-based Filsinger Energy Partners, the study outlined several models -- investor-owned, such as Hawaiian Electric Industries; cooperatives similar ...
  • Apr 27, 2016 | Kathleen Wolf Davis

    I admit to having a soft spot for the smart city movement. I can't quite tell you why. It could be the awesomeness of the fully realized, fully connected, smoothly operating concept itself---and the doubts I have on how well, in this world, that could really work, given that we seem to be in a constant state of trying to shore things up (or, at least, I do). 

  • April 27--TULSA -- Tulsa coal company Alliance Resource Partners LP on Tuesday posted lower profits Tuesday and warned that slowing coal demand could cause revenues to fall further throughout the year. Alliance recorded first-quarter profits of $47.3 million, or 36 cents a share, down from almost $107 million, or 92 cents a share, in the year-ago quarter. Revenues were $413 million, down from ...
  • April 27--The list of four finalists announced late Monday to run Austin Energy has left some longtime observers of the utility underwhelmed. Two of the candidates named by City Manager Marc Ott to be the next potential general manager have ties to the city-owned utility, including one who is an executive there. The other two work at utilities a fraction of Austin Energy's size. "This is a ...
  • April 27--Akron-based electric utility FirstEnergy Corp. on Tuesday reported a 47 percent increase in profits for the first quarter. Net income was $328 million, or 78 cents per share, compared to $222 million, or 53 cents per share for the same period a year ago. When the company adjusted for one-time factors, its profit was 80 cents per share, compared to 62 cents per share a year ago. "We ...
  • Stocks finished mostly higher Tuesday in another cautious day of trading. Energy companies climbed in tandem with the price of oil, but technology companies fell. The market wavered between small gains and losses throughout the day. Chemicals companies made the biggest gains, led by DuPont, while energy companies benefited from higher oil prices. Health care stocks fell on more ...
  • Why rates shouldn't be reduced?

    Apr 26, 2016 | EnergyBiz news services

    The City Council voted unanimously for a resolution demanding that Oncor Electric Delivery file with the city by Sept. 1 information that shows why its electric transmission and distribution rates should not be reduced if its federal tax bill drops.

  • The electricity produced at Iran’s only nuclear power plant Bushehr has found way to the country’s energy stock market. The power plant has been registered in the market with a nominal output of 1,000 megawatts, IRNA news agency reported April 26. Bushehr power plant makes the 35th producer of power to find way to the energy stock market. ...
  • April 26--Electric customers in Vero Beach and Fort Pierce could see lower rates over the next few years as Florida Municipal Power Agency members pay off debt on its four power-supply projects. Vero Beach rates could decrease by 5 percent to 10 percent by 2019, when the Stanton I project in Orlando is paid off, Vero Beach City Manager Jim O'Connor said. Savings even could come a year or two ...
  • Puerto Rico's troubled public power company says it has recovered more than $1 million owed by residents of public housing projects across the U.S. territory. The Electric Power Authority said Monday that the money was obtained through payment plans set up for more than 6,000 customers who were in debt with the utility. Officials have warned they will disconnect ...
  • General Electric (GE) company asked the Electricity Ministry to pay $148m in return for the overhauls and maintenance operations the company carried out on production plants over the past six months. GE overhauled the electricity generation units over the last 6 months, a prominent official at the Ministry of Electricity said. These operations included many production plants in Ataqa, ...
  • Apr 25, 2016 | EnergyBiz news services

    A new report from Connecticut's Office of Consumer Counsel says Connecticut residential electric customers who used third-party electric suppliers in 2015 to save money actually ended up paying more than they would have if they had continued to purchase their power through Eversource Energy or The United Illuminating Co.

  • April 21--A new report from Connecticut's Office of Consumer Counsel says Connecticut residential electric customers who used third-party electric suppliers in 2015 to save money actually ended up paying more than they would have if they had continued to purchase their power through Eversource Energy or The United Illuminating Co. How much more? Try $58 million spread across tens of thousands ...
  • April 21--South Carolina Electric & Gas customers will soon pay a new renewable energy fee, though overall monthly bills will decrease due to recently announced rate adjustments by the utility, according to a news release. The Public Service Commission of South Carolina on Wednesday approved SCE&G's request to adjust electric rates to reflect lower fuel costs associated with generating and ...
  • Keys to unlocking customer value

    Apr 20, 2016 | Bruce Herzer

    As utilities respond to rapid shifts in regulatory models, technology, and customer expectations, it can be useful to have some insight into how others are successfully making a similar transformation.

  • Apr 19, 2016 | EnergyBiz news services

    A unanimous Supreme Court ruled Tuesday that Maryland officials overstepped their authority when they offered financial subsidies to encourage construction of a new power plant in the state.

  • Apr 13, 2016 | EnergyBiz news services

    Peabody Energy, the nation's largest coal miner, has filed for bankruptcy protection as a crosscurrent of environmental, technological and economic changes wreak havoc across the industry.