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.
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 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.
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.
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.
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.
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.
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.
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.
Pioneer Natural Resources is the second U.S. firm, after Enterprise Products, to begin exploring how to take advantage of the end of the U.S. oil export ban and could begin shipments by the middle of next year, The Hill reports.
Two competing initiatives designed to give Florida residents a constitutional right to rooftop solar energy are running out of time without enough signatures yet to make next November's ballot, the Naples Daily News reports.
SolarCity CEO Lyndon Rive joined Sen. Charles E. Schumer in Buffalo this week to call the five-year extension of a federal tax subsidy "super important" to the continued growth of the solar power industry, The Buffalo News reports.
Continued concerns about oversupply forced oil prices downward early Wednesday, nearing an 11-year low already reached once this week. London Brent fell 31 cents to $37.05 a barrel while U.S. crude remained unchanged at $37.50, Reuters reports.
A group of researchers at MIT, the University of California-Berkeley, and the University of Colorado have developed a new computer microchip that uses optical technology and creates the potential to make future computer data centers more energy efficient, the journal Science reports.
A Japanese court on Thursday rejected safety concerns and approved letting Kansai Electric Power, the country's second biggest utility, restart four nuclear reactors shuttered since the 2011 Fukushima disaster, Reuters reports.