Utilities

Big loss for Germany's RWE in 2013, first in decades

Source: 
The Wall Street Journal

Taking billions in write-downs, German power giant RWE AG suffered a sizeable net loss in 2013, the utility's first in more than 60 years, as it had trouble competing with subsidized renewables, The Wall Street Journal reports.

Edison Foundation Institute hosts Powering the People: Next Generation Utility forum

Washington, March 6, 2014, 12:00 pm

Edison Foundation Institute for Electric Innovation hosts "Powering the People: Next Generation Utility" forum. Former Obama climate adviser Heather Zichal gives 1 p.m. keynote address. 

Philadelphia mayor strikes deal to sell utility

PHILADELPHIA (AP) — The mayor on Monday announced an agreement to sell the city-owned gas utility to UIL Holdings Corp. for $1.86 billion and using some of the proceeds to prop up its distressed pension fund.

Mayor Michael Nutter said the deal, which requires the approval of City Council and state utility regulators, would inject at least $424 million into the city's pension fund, which is now less than 50 percent funded.

Duke Energy employee dies in Ohio after falling from power lines

Source: 
WCPO

A pole broke as two Duke Energy employees were working on power lines in southwestern Ohio Thursday, one was killed and the second injured in the subsequent fall, WCPO reports. 

Improving coal, gas operations trim Dynegy 4Q loss

Source: 
The Wall Street Journal

Dynegy Inc., a year after emerging from bankruptcy, narrowed its loss in the 4th quarter on improving coal and gas operations, The Wall Street Journal reports.

France's GDF Suez posts 2013 net loss after massive write down

Source: 
The Wall Street Journal

French utility GDF Suez reported a net loss in 2013 after a write down of nearly 15 billion euros, the equivalent of $20 billion, a sign of deepening troubles in the European power industry, The Wall Street Journal reports.

No fed income taxes paid by Duke Energy for 5 years: Report

Source: 
The News & Observer

Duke Energy is one of a number of major corporations that haven't paid any federal income taxes during the past five years, according to a report issued Wednesday, The News & Observer reports.

Florida's NTE to build gas power plant in NC

Source: 
Charlotte Business Journal

Florida's NTE Energy has plans to build a 480-megawatt plant in Kings Mountain, North Carolina at a cost of $450 million, the Charlotte Business Journal reports.

Coal-ash dumps threaten NC community

WILMINGTON, N.C. (AP) — From his modest home near the Cape Fear River, Sam Malpass can glimpse the tall stacks of Duke Energy's Sutton Steam Electric Plant, a looming reminder of the environmental dangers threatening his family.

Contaminated groundwater from a pair of huge Sutton coal-ash dumps is headed toward the wells that provide drinking water for Flemington, a largely working class community a half mile from the entrance to Duke's plant. Duke says the wells are safe. But the threat is so serious that the company has agreed to pay to extend pipes to connect residents to a public water system.

Despite the danger, the government regulators responsible for protecting the state's natural resources have not taken action to force Duke to stop the spread of the underground plume of pollution encroaching closer to their homes each year.

Duke earnings rise 58 pct in 4Q

CHARLOTTE, N.C. (AP) — Duke Energy's fourth-quarter profit jumped 58 percent after rates were increased in the U.S. and a strong performance from some of its overseas operations.

Net income at Duke's regulated utilities increased 22 percent to $607 million thanks to the rate increases, as well as lower operating and maintenance expenses.

Regulators last year approved rate hikes in North Carolina, South Carolina and Ohio. The fourth quarter of last year was the first quarter in which the company's new rates were in effect for the entire quarter. Weather also played a role in the strong quarter.

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