Utilities

FirstEnergy profit slips on higher expenses, maintenance

Source: 
The Wall Street Journal

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.

Integrys Energy Services picked up by Chicago’s Exelon

Source: 
Green Bay Press-Gazette

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.

Electricity demand not returning with economic recovery

Source: 
The Wall Street Journal

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.

Waste Management selling subsidiary for $1.94B

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 to buy shares in NC plants for $1.2B

Source: 
Charlotte Business Journal

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.

Algonquin Power to push hostile bid for Gas Natural

Source: 
Great Falls Tribune

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.

Bankrupt Energy Future to auction stake in Oncor

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.

Energy Future heading to the auction block

Source: 
The Wall Street Journal

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.

Mosquito trap causes bomb scare at power plant

ROCK SPRINGS, Wyo. (AP) — A suspicious device at a southwest Wyoming power plant turned out not to be a bomb, but it might have hurt a mosquito or two.

Security guards spotted the object at the Jim Bridger Power Plant around midnight Wednesday. The device had wires connected to a small battery.

Polish power plant leaks fuel, threatens river

WARSAW, Poland (AP) — A malfunction at a Polish power plant on Wednesday caused a leakage of fuel, prompting emergency officials to work to make sure it doesn't contaminate the nearby Vistula River.

A spokesman for the plant, Piotr Ludwiczak, said about nine tons of the fuel, an oily substance used in combustion called mazut, escaped from the plant.

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