ATHENS, Greece (AP) — Greek authorities warned Wednesday of possible power cuts at the heart of the summer tourist season as electric utility workers head for protracted strikes against government plans to break off and sell part of the country's dominant power producer.
Public Power Corporation unions have vowed to launch rolling 48-hour walkouts Thursday. They argue that electricity supply is a vital commodity that should stay under state control.
The conservative-led government insists it will carry out the sale — which was demanded by the recession-plagued country's international creditors. It is threatening to force strikers back to work with a mobilization order.
The Puerto Rico Electric Power Authority, or Prepa, may have trouble this summer paying back $146 million it owes Citibank, but it has more of an option to restructure its debt now that Gov. Alejandro Garcia Padilla has signed a measure into law that will allow it, The New York Times reports.
Driven by Rhode Island rules requiring it to sign contracts for at least 90 megawatts of renewable energy by the end of the year, National Grid is seeking bid submissions of proposals for 10-15 year deals by Aug. 5, Platts reports.
$7.7 trillion will be spent globally on new power plants between now and 2030, according to an analysis by Bloomberg New Energy Finance, which adds that two-thirds of the investment could go to renewable energy, Bloomberg reports.
A proposed $1.9 billion loan that would lock in a restructuring plan for the bankrupt Energy Future Holdings is the target of unhappy creditors arguing against the proposal in a Delaware court Monday, Bloomberg reports.
Even as North Carolina and the giant Duke Energy appear to be moving toward the right, the company’s former chief Jim Rogers is urging backing for the fight against climate change, and warning that the utility needs to embrace changing technology, E&E reports.
Trying to avoid having to spend $1 billion on a new substation, Consolidated Edison is hoping to be able to persuade customers in Brooklyn and Queens to cut back on their electricity usage, Bloomberg reports.
A settlement from a market manipulation case involving California utilities and electricity prices in 2000-2001 has brought $15 million to Avista Energy following approval from the Federal Energy Regulatory Commission, The Spokesman-Review reports.
As part of its attempt to get more out of shale, BP has tapped industry veteran David Lawler, who’d worked most recently at Oklahoma-based Sandridge Energy Inc., to run a new unit devoted to its onshore business in the Lower 48 states, The Hill reports.
Obama administration policies – particularly those involving the environment – would be the target of major spending restrictions in a Republican-controlled Congress, Sen. Mitch McConnell, R-Ky. and the man who could lead a GOP-majority Senate, told Politico in an interview on his campaign bus.
Data from the Energy Information Administration showing a 4.5 million barrel decline in U.S. crude stocks last week fuelled a rise in prices as the front month contract expired. West Texas Intermediate crude for September delivery jumped $1.59 to settle at $96.07 a barrel on the New York Mercantile Exchange, the October contract gained 59 cents to close at $93.45 and in London October Brent ended 72 cents higher at $102.28, Reuters reports.
Buyers purchasing Iraqi crude that isn’t authorized for sale by the central government may be helping to finance the Islamic State extremist group, according to a statement from the country’s oil ministry, Platts reports.
Issues in Massachusetts that have stalled and possibly killed a plan agreed by New England governors to improve energy infrastructure and increase natural gas pipeline capacity in the region have left other states –- like Maine -– looking to take their own initiative, the Portland Press Herald reports.
A startup that’s looking into ways of converting methane into ethylene and gasoline – Siluria Technologies of San Francisco – has raised nearly $100 million in investment, including $30 million from an arm of oil company Saudi Aramco, FuelFix reports.
Global warming and environmental issues are becoming more and more important to Hispanic voters, according to an analysis of nine different polls that was commissioned by the Hispanic Access Foundation, National Journal reports.
Climate change will mean worsening air pollution, according to scientists interviewed by The New York Times, who call it the climate penalty and explain that more sunlight means more chemical reactions with automobile exhaust and other polluting agents to create more ozone.