Utilities

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.

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.

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