PINEVILLE, La. (AP) — An investment group led by Macquarie Infrastructure and Real Assets will buy the Louisiana power company Cleco for $3.4 billion.
The group will pay $55.37 in cash for each share of Cleco, which owns the regulated electric utility Cleco Power. That amounts to a 15 percent premium on the stock's closing price of $48.27 on Friday, the last trading day before the deal was announced.
NEW YORK (AP) — General Electric Co. posted strong third quarter results, issued an upbeat forecast for the fourth quarter and said U.S. industrial activity is at its highest level since the financial crisis.
CEO Jeff Immelt said there is uncertainty in the global economy, but that nations around the world are still going ahead with large infrastructure projects and companies are buying equipment.
The Federal Energy Regulatory Commission said it has begun investigating the impact of last winter's polar vortex on the power grid, with hopes the findings will help utilities be better prepared to prevent outages, The Hill reports.
As storms have become more severe in many parts of the country and power outages more frequent, home generators have gone from luxury items to mainstream ones.
Prices have come down, thanks to growing demand and cheaper technology. But the idea of buying and installing one can still be daunting, mainly because there are so many variables to consider. Much depends on how much you want the generator to do.
SAN SALVADOR, El Salvador (AP) — A magnitude 7.4 underwater earthquake off the Pacific coast of El Salvador shook several Central American countries late Monday.
There were no immediate reports of damage or injuries and no tsunami warnings. But power outages were reported in El Salvador, and Nicaragua put out an internal alert, announcing that schools would be closed on Tuesday.
Two hours of controlled rotating electricity outages affected the Rio Grande Valley in Texas Wednesday, as the Electric Reliability Council of Texas initiated the action after two power plants went offline, FuelFix reports.
In the wake of the ruling by the U.S. Court of Appeals for the District of Columbia Circuit, which threw out the Federal Energy Regulatory Commission’s demand response policy, PJM Interconnection has issued a white paper that proposes a new structure to keep afloat the concept of providing incentives for customers to use less energy, E&E reports.
SAN FRANCISCO (AP) — California's chief utility regulator, under fire over accusations of secret dealings with the state's largest utility, said Thursday he will not seek reappointment when his term ends at the end of the year.
California Public Utilities Commission President Michael Peevey made the announcement after a state lawmaker said he would bring legislation to block Peevey's reappointment to a third term. Democratic state Sen. Jerry Hill applauded Peevey's decision, saying it was "more than just a great first step."
SAN FRANCISCO (AP) — California should ban all back-channel contacts between the state's largest utility and the utility's state regulators, groups representing rate-payers and others urged a state administrative judge Tuesday after the release of emails showing regulators and utility executives secretly negotiating rate cases and other matters.
Administrative law Judge Hallie Yacknin was hearing proposed penalties in connection with emails released this summer that critics say show California Public Utilities Commission members and staffers and executives of Pacific Gas & Electric Co. improperly and privately hashing out agreements on issues regarding rate cases and financial penalties.
Many residents and officials in the southern tier area of New York state, which borders Pennsylvania, reacted with shock and despair to the news that the state government has rejected fracking, The New York Times reports.
H.R. 5705, sponsored by Rep. Robert Latta, R-Ohio, which calls for for more training about propane pricing and new data to be used by the Commerce Department in calculating prices, has been signed into law by President Obama, Platts reports.
During the week ending Dec. 13, the Association of American Railroads found that more than 119,000 carloads of coal were shipped in the U.S., an increase of nearly 8 percent on the period a year ago and the most in more than three months, Platts reports, noting that network congestion appears to be easing.
Oil rose in early trading Friday following a steep plunge the day before, but prices were losing momentum by midday in Europe. West Texas Intermediate crude for January delivery was 68 cents higher to $54.79 a barrel in electronic trading on the Nymex ahead of the contract expiring, while in London February Brent was up 1.2 percent to $60, Bloomberg reports.
Even as Halliburton prepares to take over rival oilfield services company Baker Hughes, CEO Dave Lesar, in an email to employees, said “2015 is going to be a tough year,” and warned of “reductions to our structure,” FuelFix reports.
The International Energy Agency – in a review of American energy strategy -- notes that the U.S. is operating many older nuclear power plants, and the government lacks a clear plan for the nuclear sector generally going forward, a problem that extends to carbon capture technology and renewable energy as well, The Hill reports.
Environmental activists marched to the governor’s office in Minnesota Thursday demanding he take action, following the decision by the Public Utilities Commission to stand behind its approval for expansion of Enbridge’s Line 67, commonly known as the Alberta Clipper pipeline, which would bring up to 800,000 barrels a day of oil sands crude across the Canadian border, Forum News Service reports.
In the wake of recent rainstorms, the portion of California under exceptional drought conditions dropped from 55 percent to 32 percent, according to figures made public by the U.S. drought monitor Thursday, the Los Angeles times reports.