Electricity

Duke Energy ditches 45-mile power line over Carolina mountains

CHARLOTTE, N.C. (AP) — Duke Energy is dropping plans to build a 45-mile power line across the mountains of North Carolina and South Carolina as part of a plan to replace an old coal-fired power plant near Asheville.

Residents and environmental groups opposed the transmission line, which would have connected a power plant that would run off of natural gas in Asheville to a substation in Campobello, South Carolina, north of Spartanburg.

Grid modernization to cost Edison $12 billion

Source: 
Los Angeles Times

Ted Craver, CEO of Southern California Edison, told the Chamber of Commerce Tuesday that the utility plans to spend $12 billion over the next three years modernizing the grid, the Los Angeles Times reports.

Xcel CEO: Compliance with Clean Power Plan will have minimal impact on rates

Source: 
Platts

Xcel Energy CEO Benjamin Fowke said his company can, by 2030, reduce its carbon emissions 60 percent from 2005 levels without a big rate hike, by building new natural gas plants, maintaining existing nuclear plants, and installing 2,000 MW of renewable energy, Platts reports.

GE completes $10.6 billion acquisition Alstom division

SCHENECTADY, N.Y. (AP) — General Electric Co. said Monday it has completed a $10.6 billion acquisition of the power and transmission division of French manufacturer Alstom.

Fairfield, Connecticut-based GE said the closing on the sale comes after regulatory approvals from more than 20 countries and regions. The European Union approved the takeover in September after an eight-month investigation into whether it would distort the European market.

Puerto Rico power utility creditors grant extension

SAN JUAN, Puerto Rico (AP) — Puerto Rico's financially struggling power utility is aiming to finalize a restructuring deal on its nearly $9 billion debt next week after creditors extended a forbearance agreement until Tuesday.

Puerto Rico Electric Power Authority officials said late Friday that the extension would give it additional time to finalize a preliminary agreement with a group of bondholders and bank lenders that calls for 15 percent discount on its debt. The utility known as PREPA is also in discussions with a group of monoline bond insurers on a separate restructuring deal.

Pew points to greener grid

Source: 
FuelFix

The nation’s power grid is getting greener, according to a report from the Pew Charitable Trusts, which says Texas and California are in the vanguard of changes that include greater use of cogeneration and waste heat to power, FuelFix reports.

Xcel CEO: 'Wind is becoming pretty close to parity' with natural gas

Source: 
Bloomberg

Minneapolis-based Xcel Energy Inc. has been getting wind energy bids for 20-year power purchase agreements around $25 per megawatt hour, while the utility estimates the cost for natural gas generation over the period to be $32 per megawatt hour, CEO Ben Fowke told Bloomberg.

Islamic State has problems with electricity

Source: 
Foreign Affairs

Despite the apparent success of Islamic State on the battlefield, the group is finding it harder to keep the lights on in territory it controls, Foreign Affairs reports.

Ohio lawsuit settlement to cost Duke $81 million

Source: 
The Charlotte Observer

Duke Energy and its Ohio subsidiary have denied the claims made in a class-action lawsuit over contracts in the state, but the firms have agreed to settle for $81 million to avoid further litigation, The Charlotte Observer reports.

Information sharing could boost grid cybersecurity, Congress told

Source: 
The Hill

Real-time information sharing from the federal government would help the electricity industry defend against cyberattacks, an executive from FirstEnergy Service Company told a joint hearing of two House Science, Space and Technology subcommittees Wednesday, The Hill reports.

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