BRUSSELS (AP) — Spain says that a new agreement to connect its energy networks with Portugal and France is a major step toward breaking Europe's dependence on Russian gas supplies.
Spanish Energy Minister Jose Manuel Soria said Thursday that the deal to double the electricity interconnection capacity between the three countries and kick start a major gas project is "a very important political agreement."
The Electric Reliability Council of Texas is predicting peak demand this summer will hit a record, exceeding 69,000 megawatts, and the grid operator says it should be able to handle that, although the margin calculated is less than its preferred planning reserve, Platts reports.
OMAHA, Neb. (AP) — Berkshire Hathaway Inc. said Saturday that its fourth quarter profit slid 17 percent because of declines in the paper value of its investments and derivative contracts, although its utility subsidiaries generally performed well.
Berkshire's quarterly profit declined to $4.16 billion, or $2,529 per Class A share, on $48.3 billion in revenue. That's down from $4.99 billion, or $3.035 per share, on $47 billion in revenue.
MADRID (AP) — Spain's leading electricity and natural gas company, Iberdrola, will buy the northeastern U.S. utility UIL Holdings Corp. in a deal valued at about $3 billion, the companies said Thursday.
The combined company will serve 3.1 million electric and natural gas customers in Connecticut, Maine, Massachusetts and New York.
Ohio's Public Utilities Commission has rejected a proposal from American Electric Power Company Inc. that would have guaranteed the utility a profit on its stake in a coal-fired plant, although the regulators didn’t question the plan’s legality, Columbus Business First reports.
The Dow Jones industrial average notched its third record high close in a row Wednesday, even as other market indexes ended lower.
Trading was relatively subdued as investors reviewed the latest corporate earnings news. Utilities stocks were among the biggest decliners. Energy stocks rebounded as oil prices broke a five-day slide and climbed back above $50 a barrel.
An item published in EnergyGuardian this morning, citing The Wall Street Journal, incorrectly stated that Dynegy Inc. made a profit in the fourth quarter, when the company actually had a net loss of $104 million, according to its own report.
Two years after emerging from bankruptcy protection, electricity firm Dynegy Inc. has reported a fourth quarter profit of $104 million compared to a loss during the period in 2013, but has lowered its 2015 guidance as plans to buy 21 power plants have slipped, The Wall Street Journal reports.
With the Keystone XL pipeline still delayed, Transcanada has filed with the State Department to get approval for the Upland Pipeline, which would bring Bakken crude north to Saskatchewan, The Wall Street Journal reports.
A unanimous ruling from a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit leaves in place Environmental Protection Agency regulations on heavy truck efficiency and greenhouse gas emissions, The Hill reports.
Word that Russia, Norway and possibly Saudi Arabia are ramping up oil production pressured prices Friday. U.S. benchmark crude dropped 1 percent, or 59 cents, to $57.15 a barrel on the New York Mercantile Exchange, while in London Brent gained 43 cents to $65.28 a barrel, a new five-month high, The Wall Street Journal reports.
Alliant Energy’s Wisconsin Power & Light has formally asked state regulators to approve a new gas-fired plant that will cost $750 million, alongside a solar facility intended to generate 2 megawatts, the Milwaukee Journal Sentinel reports.
Two Democrats – Sens. Joe Manchin of West Virginia and Bob Casey of Pennsylvania – have introduced comprehensive mine safety legislation intended to beef up regulatory enforcement and close loopholes in the 1952 Federal Coal Mine Safety Act, WVPN reports.