Electricity

Energy Future says it’s gotten OK for key loan

Source: 
The Wall Street Journal

Lawyer Edward Sassower, representing Energy Future Holdings in its bankruptcy proceedings, says the company has cleared the way to get a $4.475 billion loan that will keep its Texas Competitive Electric Holdings unit going, The Wall Street Journal reports.

Competition to acquire Duke energy plants in Midwest includes Dynegy

Source: 
The Wall Street Journal

Dynegy Inc. only came out of bankruptcy protection two years ago, but the company is looking to acquire 11 power plants Duke Energy is selling in the Midwest, and is competing against some private equity firms in the process, The Wall Street Journal reports.

NJ takes legal action against some 3rd party energy suppliers

Source: 
KYW

Three third party energy suppliers in New Jersey are being sued by the state’s consumer affairs division and the Board of Public Utilities for fraudulently attracting customers with promises of lower utility bills only to slam them with higher ones, KYW reports.

Efficiency key to lower electricity prices, ease capacity strain in Texas: Report

Source: 
FuelFix

A report from Brattle Group consultants says moves to curb electricity use in Texas – including energy efficiency steps and demand response programs – would keep a lid on power prices and ease pressure to build new capacity, FuelFix reports.

Power plant plan further clouds coal's future

PRESTONSBURG, Ky. (AP) — President Barack Obama's ambitious plan to reduce the gases blamed for global warming from the nation's power plants gives many coal-dependent states more lenient restrictions and won't necessarily be the primary reason coal-fired power plants will be retired.

If Kentucky, for example, meets the new limits that the Obama administration proposed Monday, it would be allowed to release more heat-trapping carbon dioxide per unit of power in 2030 than plants in 34 states do now.

That's because the Environmental Protection Agency would only require Kentucky, which relies on coal for about 90 percent of its electricity needs, to improve its carbon dioxide emissions rate by 18 percent over the next 15 years. By 2030, Kentucky would be second only to North Dakota for having the most carbon-intensive power plants in the country.

Power industry competition to range from startups to tech giants

Source: 
Bloomberg

As the old model of the regulated utility industry unravels, players in the new-age power sector will range from tech-savvy startups to tech giants like Google, analysts and venture capitalists tell Bloomberg.

Hagel offers compromise on SunZia line project

ALBUQUERQUE, N.M. (AP) — Security concerns about a proposed $2 billion transmission line between Arizona and New Mexico can be resolved, according to the U.S. Defense Department.

Defense Secretary Chuck Hagel said in a letter Tuesday to U.S. Interior Secretary Sally Jewell that concerns about routing the SunZia transmission project through an area used by White Sands Missile Range could be addressed by burying five miles of the line.

Officials at the southern New Mexico military installation previously said running the transmission line through an area north of White Sands could reduce testing operations by up to 30 percent, potentially threatening national security and resulting in layoffs at the range.

Rising gas prices boost Connecticut electric costs

HARTFORD, Conn. (AP) — Energy markets are defying Connecticut officials who have made driving down electricity prices a top priority.

State regulators announced on Friday their approval of an 8 percent increase in electric generation rates for about 62 percent of Connecticut Light & Power residential customers who do not get their electricity from competing suppliers. The increase by the state's largest utility boosts the average residential bill by $5.29 a month. The increase will take effect on July 1.

Spokesman Mitch Gross said the Northeast Utilities subsidiary is passing along increased prices charged by suppliers. "It's creeping up a little," he said.

CEO Rosenblum of Hawaiian Electric to retire

HONOLULU (AP) — Hawaiian Electric Company's CEO Richard Rosenblum says he will retire from the company within a year.

Rosenblum said Tuesday that he came out of retirement in 2008 to lead the company though its clean energy initiatives. He says the company's customers are getting more than 18 percent of their energy through renewable energy, compared with 8 percent in 2008.

Rosenblum says he shared his retirement plans to allow ample time for a smooth transition. He says he is committed to completing the development of plans for the next phase of clean energy transformation.

Energy firms acknowledge cyberattack vulnerability

Source: 
FuelFix

According to a survey of IT professionals conducted by ThreatTrack Security, two in five energy companies have had cyberattacks get through their defenses, with the biggest threat coming from email that is carrying malware, FuelFix reports.

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