Financial

  • May 26--A global renewable energy giant that filed for Chapter 11 bankruptcy in April asserts that its financial troubles will have no impact on the solar energy projects it is pursuing nationwide, including in Orange County. SunEdison is seeking to build at least two solar farms in the county. A project in Chester involves installing 10 acres of ground-mounted solar photovoltaic cells ...

  • Moody’s Investors Service said a decision by state regulators to delay until late August a final ruling in Public Service Company of New Mexico’s rate case is a “credit negative” move that could affect the utility’s finances. Last week, the Public Regulation Commission scheduled another three days of hearings for late June on PNM’s request for a 14.4 percent rate hike, thus pushing back a ...
  • When Pilgrim Nuclear Power Station shuts down permanently in mid-2019, it may not be long before another energy producer — one with the ability to transmit considerably more clean power to the region each year — takes its place on the same site. Although the plant owner and the green project proponent remained tight-lipped Wednesday, a top Plymouth official confirmed the plant ...
  • The completion of a 1 megawatt solar project was welcomed by town officials on a sunny Monday, May 23. The sprawling solar project is on 10 acres of farmland owned by Philip DeNormandie in an area that seems more industrial than agricultural. It is close by Southcoast Health's cancer and urgent care facilities and other major companies. The large solar panels stretch out on on land ...
  • May 26--A power purchase agreement involving Hoosier Energy and the Wabash Valley Power Association will make use of energy produced by a northwestern Indiana wind farm available in southern parts of the state and beyond. Hoosier Energy Rural Electric Cooperative, Inc. has entered into a 20-year agreement with Wabash Valley Power Association that will add 100 megawatts of wind energy from ...
  • May 24--Xcel Energy is seeking an interconnection switching fee estimated to cost $88.7 million if Lubbock Power & Light procedes with its plan to disconnect from Xcel's system to join the Electric Reliability Council of Texas in 2019. Xcel Energy filed a request with the Federal Energy Regulatory Commission (FERC) on Tuesday asking the agency to approve the switching fee. The energy company ...

  • LONDON (AP) — The European Investment Bank has agreed to provide extensive funding for a new wind farm off the northeast coast of Scotland. The bank said Wednesday it would allocate 525 million pounds ($770 million) for the facility to be built 14 kilometers (9 miles) off the Caithness coast near Wick, 1,070 kilometers (670 miles) north of London. The money would be used to build an 86-turbine ...
  • Living large … Harare businessman Wicknell Chivayo Undenge is under pressure to explain an unsecured advance of $5 million by the Zimbabwe Power Company (ZPC), the energy infrastructure subsidiary of power utility Zesa Holdings, to Intratrek, a company fronted in Zimbabwe by Wicknell Chivayo. The payment was purportedly for preparatory work on the 100MW Gwanda solar plant, one of several power ...
  • The Public Utilities Commission of Ohio (PUCO) wants to help Ohio consumers better understand common terms that appear on utility bills. Here are definitions to common terms you may see on your electric and natural gas utility bills: Apples to Apples charts ? The PUCO's electric and natural gas offer comparison charts, the only comparisons in the state for which ...
  • New Hampshire business leaders continue to warn the states surging economy could be short-circuited by the high cost of energy. Several Granite State business leaders recently signed a letter supporting the Northern Pass project to bring hydroelectric power into the region from Canada. The leaders say the time for action is now because the high cost of energy is a major concern for New ...
  • Veresen Inc. says it has lined up a buyer for its Glen Park hydroelectric plant in northern New York state. The Calgary-based company didn't identify the buyer in Monday's announcement but said it will get US$61 million plus working capital when the deal closes, which is expected in the third quarter of this year. The transaction requires approvals, including from the U.S. Federal ...
  • May 24--Beleaguered coal miner Foresight Energy said Monday it has reached an agreement with the holders of $600 million of debt in an effort to restructure more than $1.25 billion it owes outside of bankruptcy court. The St. Louis-based limited partnership, which operates several highly productive Illinois longwall mines, said that the agreement is contingent on a larger restructuring, which ...
  • May 23, 2016 | EnergyBiz news services

    Utility regulators say delivery rates for National Grid's 1.7 million electric and natural gas customers in upstate New York will remain frozen through March 2018.

  • May 22--A scuttled rate plan by FirstEnergy Corp. that would have charged customers possibly $4 billion over the next eight years to subsidize the utility's economically noncompetitive coal and nuclear power plants has been revised to allow it to create what amounts to a rainy day fund. That fund, paid for in the next few years by customers, would be used to give customers billing credits ...
  • May 22--A scuttled rate plan by FirstEnergy Corp. that would have charged customers possibly $4 billion over the next eight years to subsidize the utility's economically noncompetitive coal and nuclear power plants has been revised to allow it to create what amounts to a rainy day fund. That fund, paid for in the next few years by customers, would be used to give customers billing credits ...
  • With revenue from the energy industry projected to fall drastically, the state is looking at ways to reduce government spending.
  • May 22--An audit released by the state Comptroller's Office found that Rome did not use a competitive process prior to entering into its solar power purchasing agreements on Tannery and Lamphear roads that could have potentially saved millions of dollars. Rome entered into an agreement with Vermont-based company groSolar in 2013 to install 10,000 solar panels on a 15-acre former landfill that ...
  • Queensbury Town Board is exploring the feasibility of establishing a municipal electricity buying group that would establish a single power provider for all town residents, except those who specifically choose not to participate. The community choice aggregation buying group would enable residents to save on their electric bills and reduce the chances of multiple electricity companies ...
  • May 22--Since the end of 2014, government and business leaders have been embroiled in a debate over the future of Hawaiian Electric Industries, the state's dominant power utility. That's when NextEra Energy Inc., a company based in Florida, first proposed the $4.3 billion acquisition of HEI, including Hawaiian Electric Co. on Oahu, Maui Electric Co. and Hawaii Electric Light Co. on Hawaii ...
  • THE Central Bank of Nigeria (CBN) yesterday said N120 billion out of the N213 billion Nigerian Electricity Market Stabilisation Facility (NEMSF) has been disbursed in four tranches. CBN Governor, Godwin Emefiele who disclosed this during the disbursement of the fourth tranche of N55. 45 billion to power companies in Lagos, said the project is meant improve the power situation in the country. ...