A monitor told Midcontinent Independent System Operator executives that despite higher demand, real-time electricity prices dropped in the MISO region this summer because of cheaper fuel, Platts reports.
SAN JUAN, Puerto Rico (AP) — Puerto Rico's troubled electricity utility says it has reached a deal to restructure about $700 million in expired debt with fuel line lenders.
The Puerto Rico Electric Power Authority said Tuesday that lenders have two options: converting credit agreements into long-term loans or exchanging all or part of expired bonds into new bonds worth 85 percent of the existing value.
STOCKHOLM (AP) — Vattenfall AB says it is selling off its German coal plants, a major source of greenhouse gases, and its mining assets as the Swedish utility seeks to adjust its energy strategy.
The company says potential buyers can bid for four power plants as well as corresponding mining activities. Buyers can also bid for 10 hydropower plants, adding that these power plants will not be sold separately.
KRASNODON, Ukraine (AP) — In this town deep in eastern Ukraine's rebel heartland, about a quarter of the population works in the coal mines owned by billionaire Rinat Akhmetov, Ukraine's richest man. Here and elsewhere in territory controlled by the separatist insurgency, the tycoon keeps the lights on and people clothed and fed, with a mixture of jobs, electricity and aid.
At the same time, Akhmetov operates factories on the other side of the frontline, powering Ukraine's economy and pouring hundreds of millions in taxes into government coffers. His steel products, which are finished in rebel territory, are then shipped to the West — where they bring in billions in revenue for Akhmetov that then indirectly props up the separatist government.
Duke Energy is promising to pick up an extra $85 million tab for cost overruns at its troubled coal gasification plant near Edwardsport in southwestern Indiana, rather than increase charges on ratepayers, The Associated Press reports.
A spokesperson for the Massachusetts Department of Energy and Environmental Affairs says a plan allowing utilities to buy Canadian hydropower on long-term contracts will go ahead despite a study criticizing the proposal, Platts reports.
Exelon and Pepco are working on an appeal of Washington D.C. regulators' rejection of their proposed merger, as opponents pressure Mayor Muriel Bowser not to enter into any settlement with the companies, the Washington City Paper reports.
Five cooling towers at The Geysers geothermal power complex have been damaged by wildfires burning in California, but the facility is continuing to produce some electricity and could be repaired in a matter of months, a spokesman from Calpine Corp. told FuelFix.
The stocks of U.S. petroleum products increased last week, the Energy Information Administration reported, although the million barrel rise in crude stocks was less than analysts’ expected, while the jump in gasoline stocks exceeded predictions, according to Reuters.
Earthjustice filed court papers Tuesday on behalf of several environmental and health groups seeking to intervene to defend the Environmental Protection Agency’s lower ozone limits from a lawsuit brought by coal company Murray Energy, The Hill reports.
State Department climate envoy Todd Stern told a news conference that he’s thinking about the upside, not the downside, heading into a critical global conference on climate change policy that starts Monday, National Journal reports.
The plan for coal producer Walter Energy to emerge from bankruptcy is being fought by unions and the firm’s retired workers in Alabama, but a court Tuesday approved the company’s move to auction off assets, Reuters reports.
Acting to lower its credit rating for Pemex, Moody’s Investors Service pointed to the firm’s increasing debt and declining earnings, although Mexico’s national oil company responded by saying the move brings the agency in line with other ratings firms, The Wall Street Journal reports.
The White House and the billionaire conservative Koch brothers have been allies recently in moves to liberalize the nation’s criminal justice laws, but they are disagreeing over one measure that would require proof of suspects knowingly engaging in unlawful conduct, The New York Times reports, noting that such a move is alarming environmentalists.
According to a report released this week by the U.N. Office for Disaster Risk Reduction, weather-related disasters have caused more than 600,000 deaths and trillions of dollars in damages over the past 20 years, The New York Times reports.
A market-based approach for cutting vehicles’ greenhouse gas emissions—which could include mileage-based driver fees or emissions trading—is the goal as Connecticut, Delaware, New York, Rhode Island, Vermont, and the District of Columbia announced an agreement to work together on the issue, Reuters reports.