Utilities

China launches new power line project

Source: 
Reuters

China's official Energy News said the State Grid Corporation has started production on a $100 billion ultra-high voltage power line system as the nation looks to boost its energy infrastructure, Reuters reports.

High-level compensation topped $25M ahead of Energy Future bankruptcy

Source: 
FuelFix

Energy Future Holdings paid out $25.5 million to senior management, including CEO John Young and others in the company’s top echelon, in the year before it filed for bankruptcy protection, according to court filings, FuelFix reports.

Money problems beset Puerto Rico’s electricity generator

Source: 
The New York Times

The Puerto Rico Electric Power Authority, or Prepa, may have trouble this summer paying back $146 million it owes Citibank, but it has more of an option to restructure its debt now that Gov. Alejandro Garcia Padilla has signed a measure into law that will allow it, The New York Times reports.

RI rules pushing National Grid to seek renewables

Source: 
Platts

Driven by Rhode Island rules requiring it to sign contracts for at least 90 megawatts of renewable energy by the end of the year, National Grid is seeking bid submissions of proposals for 10-15 year deals by Aug. 5, Platts reports.

Creditors fight Energy Future plan to compensate 'anchor investors'

Source: 
Bloomberg

A proposed $1.9 billion loan that would lock in a restructuring plan for the bankrupt Energy Future Holdings is the target of unhappy creditors arguing against the proposal in a Delaware court Monday, Bloomberg reports.

Ex-Duke CEO urges fight against climate change

Source: 
E&E

Even as North Carolina and the giant Duke Energy appear to be moving toward the right, the company’s former chief Jim Rogers is urging backing for the fight against climate change, and warning that the utility needs to embrace changing technology, E&E reports.

ConEd pushes efficiency to avoid constructing substation

Source: 
Bloomberg

Trying to avoid having to spend $1 billion on a new substation, Consolidated Edison is hoping to be able to persuade customers in Brooklyn and Queens to cut back on their electricity usage, Bloomberg reports.

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.

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