PJM Interconnection has reported a new record demand level for November -- 121,987 megawatts – reached Tuesday evening, which the eastern regional grid operator attributes to the current spell of cold weather and which also sent prices soaring above $100 per megawatt-hour in two areas, Platts reports.
Companies like Echogen are betting that advances in technology will improve the feasibility of energy harvesting – generating power from things like vibrations, heat or radio waves – although the chief of ARPA-E, the Energy Department’s agency promoting research, says retooling the grid to add local energy storage may be a more significant step for the nation’s power picture, CNBC reports.
Construction should be starting immediately on the 778-megawatt Stonewall natural gas-fired plant in Loudon County, Va., according to Panda Power, which says it has raised $571 million in debt capital for the work, Platts reports.
The Homeland Security Department has issued a warning that a “Trojan Horse” malware program linked to Russian hackers has put U.S. infrastructure from nuclear power plants to power grids at risk, The Washington Times reports.
Moody's Investors Service in a report sought to downplay concerns that falling renewable power costs and growing distributed generation will launch a "death spiral" for electric utilities, saying current regulatory structures will help maintain systems, Platts reports.
Cooler temperatures over the summer reduced demand for energy and cut into Duke Energy’s profits in the third quarter, the power company reported, declaring earnings excluding charges of $1.40 a share, which was lower than analysts’ expectations, Reuters reports.
FRANKFURT, Germany (AP) — Industrial equipment maker Siemens says quarterly net profit rose 40 percent but issued a cautious outlook for the coming year, saying global tensions would affect its business and predicting flat revenue.
Siemens also said Thursday it was selling its hearing-aid business to the investment company EQT and Germany's Struengmann family of entrepreneurs for 2.15 billion euros ($2.68 billion).
Net income for the quarter ending Sept. 30, the company's fiscal fourth, rose to 1.50 billion euros ($1.87 billion) from 1.07 billion euros in the same quarter a year ago. Revenue was flat at 20.56 billion euros. Sales and profit figures beat estimates compiled by financial information provider FactSet.
Oil prices surged 8.3 percent in Friday trading as rig data suggested a slowdown in shale oil development, with Brent crude rising $3.86 to $52.99 a barrel and U.S. crude climbing $3.71 to settle at $48.24 a barrel, Reuters reports.
A survey conducted by Reuters reports that OPEC output rose by 130,000 barrels per day in January as Angola boosted exports and Persian Gulf producers kept steady or increased output, a signal that some members plan to stay the course on maintaining output despite low oil prices.
Despite the collapse of crude oil prices last year, the latest Commerce Department report of gross domestic output showed outlays for new oil rigs and wells rose 8.9 percent in the fourth quarter of 2014, even as equipment spending across all U.S. businesses fell, Bloomberg reports.
Chevron CEO John Watson, after his company reported lower profits and announced budget cuts, voiced optimism for long-term industry prospects, saying the price of oil will have to rise above $50 per barrel to support new exploration to meet energy needs, FuelFix reports.
A new poll conducted by The New York Times, Stanford University and Resources for the Future suggests that more than two-thirds of Americans, including 48 percent of Republicans, say they consider themselves more likely to support a candidate who supports action to combat climate change.
The National Biodiesel Board in a letter to the Environmental Protection Agency voiced frustration with the agency's delayed implementation of biodiesel mandates, saying the slow movement has caused some producers to reduce staff and forced others into bankruptcy, The Hill reports.
A survey of economists by Bloomberg projects that many of the world's largest crude oil exporters like Saudi Arabia, Kuwait and Qatar could see budget surpluses take hits and slip into deficits as global oil prices remain low.
Chevron, after posting a 30 percent decrease in earnings from the previous year in the fourth quarter 2014, abandoned plans to explore for shale gas in Poland, dealing a blow to efforts to develop hydraulic fracturing and shale drilling industries in Europe, The New York Times reports.
In an interview with E&E, Rep. Cynthia Lummis, R-Wyo., vice chairwoman of the Natural Resources Committee and leader of a new Interior and EPA oversight panel, discusses her familiarity with development and ranching issues in western states and her plans to limit Obama administration regulations on public land use.