Electricity

Thursday debt deadline looms for power authority in Puerto Rico

Source: 
The Wall Street Journal

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.

Utilities cautious in face of uncertain future: Report

Source: 
Platts

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.

Noranda still waiting for Missouri ruling on its power rates

Source: 
Platts

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.

Bankrupt Energy Future looks to pay millions more in executive bonuses

Source: 
The Wall Street Journal

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.

Mass. lawmakers’ energy measure failure delays New England regional plan

Source: 
E&E

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.

California utility to pay $12 million over 2011 blackout

Source: 
The San Diego Union-Tribune

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.

Prosecutors in NY probing companies that built Venezuelan power plants

Source: 
The Wall Street Journal

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.

Marijuana’s energy appetite presents challenge for state regulators

Source: 
E&E

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.

Solar sale helps Con Ed to 23 percent hike in 2Q profit

Source: 
The Wall Street Journal

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.

NRG blames weather for 2Q loss, says it will reorganize

Source: 
FuelFix

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.

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