Florida Power & Light has applied to the state’s Public Service Commission for permission to invest $68 million in drilling for gas in the Woodford Shale, a move the utility says could save it $107 over the next 30 years, the Palm Beach Post reports.
Energy Future Holdings, which filed for bankruptcy in April, has rejected an offer from NextEra Energy Inc. for its Oncor Electric Delivery unit, apparently hoping to get a $1.9 billion loan agreement for the power operation from a different group of creditors, people familiar with the matter told Bloomberg.
Repsol, a Spanish-based global energy company, has filed an application with the Federal Energy Regulatory Commission that would enable it to trade wholesale power in six regional power pools and also sell services to independent third parties, Platts reports.
Natural gas is the fuel best placed to meet rising electricity demand around the world, Exxon Mobil vice president Bill Colton told a meeting of the Mid-Atlantic Conference of Regulatory Utilities Commissioners Monday, Platts reports.
MILWAUKEE (AP) — Wisconsin Energy Corp. is buying Integrys Energy Group Inc. for about $5.8 billion in cash and stock to form a more diverse Midwest electric and natural gas delivery company.
The combined company will be called WEC Energy Group Inc. and serve more than 4.3 million total gas and electric customers across Wisconsin, Illinois, Michigan and Minnesota.
The transaction will combine Wisconsin Energy's electric and gas utility, We Energies, with Integrys' electric and gas utilities, Wisconsin Public Service, Peoples Gas, North Shore Gas, Minnesota Energy Resources and Michigan Gas Utilities.
JAMESTOWN, Va. (AP) — A power company's plan to build high-rise transmission towers within sight of Jamestown Island has stirred opposition from historic preservationists who say they'll be a visual blight from the swampy shore where America sprouted.
Dominion Virginia Power is awaiting permits from the Army Corps of Engineers to construct 17 towers across 4 miles of the James River. The towers would rise above the river to a height ranging from 160 feet to 295 feet, nearly the same height of the Statue of Liberty.
The transmission line would serve an estimated 80,000 homes in the Tidewater region of the state, which is crowded with military bases, subdivisions and tourist attractions. The utility argues, and state regulators agree, that the power line is needed to ensure the lights stay on.
WASHINGTON (AP) — One of the nation's largest coal companies on Wednesday sued President Barack Obama's administration seeking to block the Environmental Protection Agency's new carbon emissions rules for power plants.
The lawsuit was filed in the U.S. Court of Appeals for the District of Columbia Circuit by Murray Energy Corp. EPA rules announced this month seek to reduce global warming by forcing a 30 percent cut in carbon dioxide emissions from 2005 levels by 2030.
Murray Energy, based in St. Clairsville, Ohio, calls the regulations "illegal, irrational, and destructive" and argues they will destroy millions of jobs.
Computershare Trust Co, the trustee for the holders of some of the notes from Energy Future Intermediate Holding Co, or EFIH, has filed suit to block a refinancing deal it says tries to get around early redemption penalties worth more than $700 million, Reuters reports.
The power substation in San Jose where a sniper attack last year raised concern about the security of the country’s grid has been breached again, according to Pacific Gas and Electric, which said thieves cut through a fence and stole some equipment, The New York Times reports.
A corn ethanol plant at the Port of Indiana-Mount Vernon, which Valero Energy Corp. bought in March, has restarted, FuelFix reports. It is expected to boost the company’s output to 1.3 billion gallons a year, making Valero the country’s third-largest ethanol producer.
Oil looks set to finish out the week higher in the wake of another positive piece of data on the U.S. economy, news of an unexpected rise in consumer confidence. West Texas Intermediate crude for October delivery was up 66 cents to $95.21 a barrel on the Nymex, while in London Brent crude settled 35 cents higher to $102.81, Bloomberg reports.
Fighting in Tripoli may have been escalating, but in the east of Libya, the key oil port of Es Sider is once again getting a flow of crude from oilfields after exports there resumed last week following a one-year hiatus, an official told The Wall Street Journal.
Sen. Mary Landrieu, D-La., listed her parents’ home in New Orleans as her address in filing last week to qualify for the ballot in Louisiana, prompting some critics to question her residency status, The Washington Post reports.
Clean Air Act violations for the release of phosgene, methyl chloride and oleum at a West Virginia facility between 2006 and 2010 will cost DuPont $1.3 million in fines, the Environmental Protection Agency and the Justice Department said in announcing a settlement, The Hill reports.
A project to build a big $25 billion water tunnel system in Northern California poses water quality problems to the Sacramento-San Joaquin River Delta and a possible threat to smelt and salmon, the Environmental Protection Agency said in a letter accompanying comments posted online, the Los Angeles Times reports.