Adjusted earnings for utility FirstEnergy Corp. dropped to 49 cents a share in the second quarter, compared to 59 cents a share in the period a year earlier, on flat revenue but increased expenses, The Wall Street Journal reports.
Exelon Corp. will buy Integrys Energy Services from its parent Integrys Energy Group for $60 million, adding the unit – which has 1.2 million customers in 22 states and Washington, D.C. – to its Baltimore-based business arm Constellation, the Green Bay Press-Gazette reports.
American Electric Power Co.'s failure to reach its 2008 sales figures in the years since is an example of how utilities will have to rethink their traditional assumptions that demand for electricity will increase in the future, The Wall Street Journal reports.
HOUSTON (AP) — Waste Management is selling a subsidiary to Energy Capital Partners for $1.94 billion as part of its effort to focus on its core business.
It is selling Wheelabrator Technologies Inc., which owns or runs 17 waste-to-energy facilities and four independent power-producing plants in the U.S. The business also has four ash monofill landfills, three transfer stations and an ongoing development and construction project in the U.K. Wheelabrator's 2013 revenue totaled about $845 million.
Duke Energy will buy shares in power plants owned by the N.C. Eastern Municipal Power Agency for $1.2 billion, giving it an extra 700 megawatts worth of capacity, the Charlotte Business Journal reports.
Ontario-based Algonquin Power & Utilities, following a rejection of its bids for Gas Natural, has written to the board warning that it will present its case to the company’s shareholders, Gannett’s Great Falls Tribune reports.
DALLAS (AP) — Bankrupt power giant Energy Future Holdings terminated its restructuring agreement and announced plans to auction its stake in the profitable power transmission business Oncor Electric Delivery Co., according to a filing Thursday with the U.S. Securities and Exchange Commission.
The company and its creditors "believe that the (restructuring agreement) has provided significant benefit," including obtaining billions of dollars in new financing, the filing said.
There will be a court-supervised bidding process involved in the restructuring of bankrupt Energy Future Holdings, according to a filing with the Securities and Exchange Commission Thursday, in which the prize will likely be the Texas transmission business Oncor, The Wall Street Journal reports.
Short-covering and the expiration of the front month contract helped power oil prices to a huge gain Friday. West Texas Intermediate crude for January delivery shot up 5 percent, or $2.41, to settle at $56.52 a barrel on the Nymex, while in London February Brent finished $2.11 higher at $61.38, Reuters reports.
Oilfield services company Baker Hughes reported Friday that 1,875 rigs were drilling for oil and gas in the U.S. this week, a drop of 18 and the second week in a row that the number has fallen, FuelFix reports.
Comparing present-day statistics with numbers during the oil bust in the mid-1980s has led JP Morgan Chase economist Michael Feroli to warn that Texas could slip into a regional recession next year, FuelFix reports.
Job losses in the power generation sector over the past three years topped 5,800, according to data released by the Energy Information Administration Friday, which said all parts of the industry were affected other than renewable energy, The Hill reports.
Avenue Capital, the hedge fund run by Marc Lasry that specializes in buying distressed companies’ debt, is raising $750 million for a fund that will focus on the energy sector, according to the Pennsylvania Public School Employees’ Retirement Board, which confirms it has put in $200 million, the New York Post reports.
Tesla is testing the market for battery swaps: Near California supercharging stations where Model S owners can top up their batteries for free, the company is creating a facility where drivers can pay a cost equivalent to a tank of gasoline and get a fully-charged battery installed in three minutes, The Wall Street Journal reports.
The growth of global carbon emissions slowed in 2013 -– although the total of 35.3 billion tons did set a record -- and the rate of increase tailed off despite an uptick in economic activity, says a report from the European Commission’s Emissions Database for Global Atmospheric Research, or EDGAR, according to E&E.
INEOS hopes to get commercial shale gas production under way in Britain before the end of the decade, according to documents the government released Friday, which detailed the company’s presentation to the Department of Energy and Climate Change in February, Platts reports.