STOCKHOLM (AP) — Vattenfall AB says it is selling off its German coal plants, a major source of greenhouse gases, and its mining assets as the Swedish utility seeks to adjust its energy strategy.
The company says potential buyers can bid for four power plants as well as corresponding mining activities. Buyers can also bid for 10 hydropower plants, adding that these power plants will not be sold separately.
Duke Energy is promising to pick up an extra $85 million tab for cost overruns at its troubled coal gasification plant near Edwardsport in southwestern Indiana, rather than increase charges on ratepayers, The Associated Press reports.
Exelon and Pepco are working on an appeal of Washington D.C. regulators' rejection of their proposed merger, as opponents pressure Mayor Muriel Bowser not to enter into any settlement with the companies, the Washington City Paper reports.
RALEIGH, N.C. (AP) — Duke Energy and the Obama Administration are settling a 15-year-old lawsuit over claims that the largest U.S. electric company violated federal clean air laws by modifying coal-fired power generators without required air pollution control equipment, company and administration officials said Thursday.
The Charlotte-based energy company would pay a civil penalty of $975,000, shut down one coal-burning unit not previously included in the lawsuit and spend $4.4 million on environmental mitigation projects, under the proposed settlement with the U.S. Environmental Protection Agency and the Justice Department.
WASHINGTON (AP) — Vice President Joe Biden is touting a new $375 million deal between the U.S. and Benin to invest in the African country's electric power sector.
Biden was joined by Benin President Thomas Boni Yayi at the White House Wednesday as officials signed the five-year Millennium Challenge Corporation Compact. The deal will help fund electricity distribution, off-grid access, oversight and policy reform.
Declaring that New York markets “don’t meet the needs of the electric system,” around Buffalo NRG Energy plans to shut down the Huntley coal-fired plant but will delay converting units at the Dunkirk plant to natural gas, according to notifications the company has made to the New York State Public Service Commission, Platts reports.
WASHINGTON (AP) — Regulators in the District of Columbia rejected the proposed merger of power companies Exelon and Pepco on Tuesday, saying the deal would not benefit ratepayers.
The three-member D.C. Public Service Commission voted unanimously to reject the merger. It had already been approved by the Federal Energy Regulatory Commission and by Delaware, Maryland, New Jersey and Virginia, leaving the District as the final regulatory hurdle.
SAN JUAN, Puerto Rico (AP) — Puerto Rico's heavily indebted power company said Tuesday that it signed a contract to replace Brazilian oil giant Petrobras as the island's main fuel supplier in a bid to save money as a restructuring deadline looms.
The Electric Power Authority said the deal with Connecticut-based Freepoint Commodities will help save $25 million the first year.
Voting 2-1, the D.C. Public Service Commission has moved to block Exelon’s proposed purchase of Pepco Holdings, saying critics’ concerns about the deal hadn’t been addressed, the Washington City Paper reports.
Pioneer Natural Resources is the second U.S. firm, after Enterprise Products, to begin exploring how to take advantage of the end of the U.S. oil export ban and could begin shipments by the middle of next year, The Hill reports.
Two competing initiatives designed to give Florida residents a constitutional right to rooftop solar energy are running out of time without enough signatures yet to make next November's ballot, the Naples Daily News reports.
SolarCity CEO Lyndon Rive joined Sen. Charles E. Schumer in Buffalo this week to call the five-year extension of a federal tax subsidy "super important" to the continued growth of the solar power industry, The Buffalo News reports.
Continued concerns about oversupply forced oil prices downward early Wednesday, nearing an 11-year low already reached once this week. London Brent fell 31 cents to $37.05 a barrel while U.S. crude remained unchanged at $37.50, Reuters reports.
A group of researchers at MIT, the University of California-Berkeley, and the University of Colorado have developed a new computer microchip that uses optical technology and creates the potential to make future computer data centers more energy efficient, the journal Science reports.
A Japanese court on Thursday rejected safety concerns and approved letting Kansai Electric Power, the country's second biggest utility, restart four nuclear reactors shuttered since the 2011 Fukushima disaster, Reuters reports.