If the Puerto Rico Electric Power Authority, known as Prepa, can’t negotiate another extension for payments with lenders like Citigroup, it faces having to restructure a much larger amount of debt, some $9 billion worth, The Wall Street Journal reports.
Faced with flat demand, a move away from coal- and nuclear-generated power, the growth of distributed generation and uncertainty about the final form of emissions regulations, utilities are holding off on making major decisions about investments, according to an analysis by research firm Black & Veatch, Platts reports.
The Missouri Public Service Commission was due to rule on its request for lower electricity rates last week, but Noranda Aluminum, which reported a smaller loss than a year ago in the second quarter, is still waiting for word, CEO Layle “Kip” Smith told analysts in an earnings call Monday, Platts reports.
Bankruptcy court filings – required under Chapter 11 laws and set for review next month – indicate that Energy Future Holdings is seeking to pay $18 million or more in bonuses to executives in 2014, The Wall Street Journal reports.
A plan agreed by regional governors to change ISO New England’s tariff to help pay for pipelines and transmission lines has been delayed by the failure of the Massachusetts legislature to approve an energy measure pushed by Gov. Deval Patrick, E&E reports.
In a settlement announced last week by the Federal Energy Regulatory Commission, the Imperial Irrigation District, a customer-owned utility operating in southern California near the Mexican border, agreed to pay $3 million to the U.S. Treasury and $9 million more for improvements to the local grid in the wake of a regional blackout in September 2011, The San Diego Union-Tribune reports.
The probe is in preliminary stages, but prosecutors in New York are looking into the operations of Venezuelan firm Derwick Associates and an engineering company based in Missouri, ProEnergy Services, over the handling of hundreds of millions of dollars in contracts to build power plants, people familiar with the matter told The Wall Street Journal.
State regulators in Washington and Colorado have a tricky dilemma: How to find ways to cut electricity consumption for the energy-hungry marijuana industry without falling afoul of federal drug laws, E&E reports.
A gain on the sale of solar energy projects helped New York utility Consolidated Edison Inc. to a 23 percent increase in second quarter profit, to $212 million, although it has not yet estimated liability from a March explosion in Manhattan that killed eight, The Wall Street Journal reports.
A severe winter followed by a mild summer added up to a $97 million loss for NRG Energy in the second quarter, according to CEO David Crane who said the company was “whipsawed by the weather,” and outlined its plans to reorganize into three divisions -- NRG Home, NRG Business and NRG Renew – Fuel Fix reports.
Launching personal attacks on environmental activists and celebrity supporters should be part of the oil and gas industry strategy if it wants to fight for expanded drilling, according to advice from consultant Richard Berman as he drums up support for his "Big Green Radicals" PR campaign, The New York Times reports.
The re-election contest for Rep. Fred Upton, R-Mich. and chair of the House Energy and Commerce Committee, is attracting last-minute money -- including some from the American Future Fund for an ad extolling his support for the Keystone XL pipeline -- as polling indicates his race against Democrat Paul Clements is a tight one, The Hill reports.
In an effort to maintain Democratic control of the Senate, environmental groups are supporting some backers of the Keystone XL pipeline –- like Michelle Nunn in Georgia and Sen. Kay Hagan in North Carolina -– as well as fracking supporter Sen. Mark Udall in Colorado, The Wall Street Journal reports.
Word that OPEC has boosted its crude output to a 14-month high sent oil prices plunging again early Friday. West Texas Intermediate crude for December delivery dropped 1 percent, or 81 cents, to $80.31 a barrel in electronic trading on the Nymex, while in London Brent was down 93 cents to $85.31, Bloomberg reports.
A tentative settlement Cheniere Energy has reached with shareholders over lawsuits would block executives from receiving shares authorized in February 2013 but not paid out, according to a filing with the Securities and Exchange Commission, FuelFix reports.
Robert MacLean –- now a solar power consultant after he was fired by the Department of Homeland Security for leaking information about the air marshal program -– says many federal employees, including those in the Environmental Protection Agency and the Departments of Energy and Interior, could be affected by the outcome of his lawsuit now before the U.S. Supreme Court, E&E reports.
The capacity market and infrastructure improvements will be the topics of discussion at a conference between New York officials and representatives of the Federal Energy Regulatory Commission Nov. 5, Reuters reports.