Spain sees energy deal as EU step to cut Russia dependence

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."

ERCOT sees record summer demand, sufficient capacity


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.

Berkshire Hathaway's 4Q profit declines 17 percent

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.

Power generation helps save NRG from red ink


The $575 million in earnings from NRG Business, which includes NRG Energy’s wholesale power generation operations, helped save the company from a loss in the fourth quarter, FuelFix reports.

Duke scrambling to cope with N.C. power outages

News & Observer

Duke Energy has warned that power won’t be restored to most of its customers affected by a snow storm in North Carolina until midnight Friday, the News & Observer reports.

Spanish company buying US utility serving northeast for $3B

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 regulators reject AEP power purchase agreement

Columbus Business First

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.


Dow ekes out another record close, oil rebounds

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.

Correction to report about Dynegy earnings


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.

Dynegy reports 4Q profit but issues warning for 2015

The Wall Street Journal

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.


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