Expansion of energy storage and micro-grid systems can help improve future electrical system reliability, but utilities should be prepared for some pain as new technologies are introduced to make the system stronger, a top executive at an energy technology firm says.
In an interview with EnergyGuardian, Princeton Power Systems co-founder and Chief Strategy Officer Darren Hammell said it is essential that utilities move aggressively to improve system reliability before disasters like cyberattacks, terrorism and extreme weather knock out power across an interconnected, aging grid.
A day after Maryland’s attorney general recommended that regulators reject the proposed merger between Exelon and Pepco Holdings, the companies announced that they’ll more than double the money set aside to benefit utility customers, The Washington Post reports.
BRUSSELS (AP) — Spain says that a new agreement to connect its energy networks with Portugal and France is a major step toward breaking Europe's dependence on Russian gas supplies.
Spanish Energy Minister Jose Manuel Soria said Thursday that the deal to double the electricity interconnection capacity between the three countries and kick start a major gas project is "a very important political agreement."
The Electric Reliability Council of Texas is predicting peak demand this summer will hit a record, exceeding 69,000 megawatts, and the grid operator says it should be able to handle that, although the margin calculated is less than its preferred planning reserve, Platts reports.
OMAHA, Neb. (AP) — Berkshire Hathaway Inc. said Saturday that its fourth quarter profit slid 17 percent because of declines in the paper value of its investments and derivative contracts, although its utility subsidiaries generally performed well.
Berkshire's quarterly profit declined to $4.16 billion, or $2,529 per Class A share, on $48.3 billion in revenue. That's down from $4.99 billion, or $3.035 per share, on $47 billion in revenue.
MADRID (AP) — Spain's leading electricity and natural gas company, Iberdrola, will buy the northeastern U.S. utility UIL Holdings Corp. in a deal valued at about $3 billion, the companies said Thursday.
The combined company will serve 3.1 million electric and natural gas customers in Connecticut, Maine, Massachusetts and New York.
Ohio's Public Utilities Commission has rejected a proposal from American Electric Power Company Inc. that would have guaranteed the utility a profit on its stake in a coal-fired plant, although the regulators didn’t question the plan’s legality, Columbus Business First reports.
The Dow Jones industrial average notched its third record high close in a row Wednesday, even as other market indexes ended lower.
Trading was relatively subdued as investors reviewed the latest corporate earnings news. Utilities stocks were among the biggest decliners. Energy stocks rebounded as oil prices broke a five-day slide and climbed back above $50 a barrel.
A bill moving through the New Jersey Senate would require the state to get 80 percent of its energy from renewables by 2050, but it is unlikely to win approval from Republican Gov. Chris Christie, NJ Spotlight reports.
An American Petroleum Institute report detailing a drop in crude stocks sent oil prices soaring early Wednesday. U.S. benchmark crude jumped $1.51 to $61.91 a barrel in electronic trading on the Nymex, while in London Brent gained $1.36 to $68.88, Reuters reports.
The changes at the top for Saudi oil company Aramco, alongside a government reshuffle announced by King Salman last week, should help free the company from political interference, analysts have told Platts.
An ethics watchdog has filed a complaint with the Federal Election Commission alleging billionaire environmentalist Tom Steyer’s Super PAC may be improperly obtaining information on voters in Iowa, the Washington Free Beacon reports.
The Alberta New Democratic Party that swept into power in the oil-rich Canadian province in Tuesday’s election favors increasing royalties on oil and gas production as well as higher corporate taxes, The Wall Street Journal reports.