Utilities

NV Energy still in the black as CEO Yackira retires

Source: 
Las Vegas Sun

Michael Yackira is leaving NV Energy, Nevada’s main electricity provider, having boosted profits for shareholders as well as making $21 million when he sold the company to Warren Buffet’s MidAmerican Energy Holdings Co., the Las Vegas Sun reports.

NextEra Energy Partners surges in market debut

NEW YORK (AP) — Shares of NextEra Energy Partners LP are surging in their first day of trading as a public company.

The company priced its initial public offering of approximately 16.3 million common units at $25 per unit, the upper end of the projected range of $23 to $25 per unit.

The stock jumped $7.36, or 29.4 percent, to $32.36 in Friday trading on the New York Stock Exchange.

Florida utility wants to drill for gas

Source: 
Palm Beach Post

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.

Texas market manipulation case leads GDF Suez to ‘small fish’ defense

Source: 
Platts

In a case before the Texas Public Utility Commission, GDF Suez has used the so-called small fish defense in asking regulators to dismiss a market manipulation case against it, Platts reports.

Energy Future hoping to get top value for Oncor

Source: 
Bloomberg

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.

Spain’s Repsol applies to enter US power trading business

Source: 
Platts

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 best to meet increasing electricity demand: Exxon VP

Source: 
Platts

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.

Wisconsin Energy buying Integrys for $5.8 billion

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.

Power company clashes with US history in Virginia

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.

Ohio coal company sues over carbon emissions rules

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.

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