FirstEnergy, the Akron-based electric utility holding company, is facing what looks like an existential challenge. The company is on the verge of losing all of its expensive nuclear and coal-fired generation and becoming an entirely regulated firm. The generating subsidiary, FirstEnergy Solutions, is almost certain to file for bankruptcy by the end of March. CEO … More FirstEnergy: Into a gathering storm?
Georgia and the state’s electric utilities are laying down a big bet on the completion of the two-unit, 2,000-MW Vogtle nuclear plant. What’s going on in Georgia is similar to what’s going on in South Carolina, but with significant differences. Whether the Georgia approach to the same problems that have faced South Carolina will yield … More Ga. nuke plays on, with house money
The mess in South Carolina over the failed V.C. Summer nuclear plant just gets more convoluted and complicated, week-by-week. Last week, the South Carolina House of Representatives voted 108-1 to purge the South Carolina Public Service Commission. At the same time, the state Senate voted unanimously, 35-0, to give the PSC until the end of … More South Carolina nuclear mess gets messier
While the natural gas pipeline industry has some heartburn over the Trump administration’s new tax law, it is cheering the administration’s infrastructure plan released this week. While mostly focused on roads and bridges, and how to pay for improvements, the Trump plan includes proposals to streamline state environmental reviews of pipeline plans and cut Congress … More Trump infrastructure plan pushes gas pipelines
Recognizing the way technology is changing energy markets, the Federal Energy Regulatory Commission today took action to open the wholesale competitive markets it regulates to electric energy storage. By a unanimous vote, the five-member commission adopted a final rule to open the competitive energy, capacity and ancillary services markets to storage as both seller and … More FERC adapts rules to deal with electric storage
The Trump administration delivered a $4.4 billion fiscal year 2019 federal budget to Congress yesterday. A standard journalistic cliché about presidential budgets in recent years has been “dead on arrival.” As the Associated Press reported, Trump’s second budget plan was “dead even before arrival.” The current budget plan looks very much like what the president … More Trump’s FY 2019 budget: An administration flying blind
Electric vehicle maker Tesla’s financial bloodbath continues, as the company reported a loss of $675.4 million for the 2017 fourth quarter ($4.01/share), compared to $619.4 million ($3.70/share) loss for the third quarter and a $121.3 million (78 cents/share) loss for the final quarter of 2016. Bears and short-sellers are following the bloody trail, although they … More Tesla dives deeper into red ink
President Trump’s corporate tax cuts are causing trouble for the natural gas pipeline industry. Don Santa, president of the Interstate Natural Gas Association of America Jan. 30 sent a letter to Federal Energy Regulatory Commission Chairman Kevin McIntyre, released on Monday, calling on the regulators to resist petitions from some gas utility interests, state utility … More Trumps tax cuts trouble natural gas pipelines
The United States could become a net exporter of energy by 2022, according to the Department of Energy’s Energy Information Administration. EIA’s 2018 Annual Energy Outlook, the agency’s premier analytical product, says that “continued development of U.S. shale and tight oil and natural gas resources paired with modest consumption growth” will lead to the U.S. … More EIA: U.S. to become net energy exporter
Florida-based NextEra Energy and Washington’s Nuclear Energy Institute, the nuclear industry’s lobbying group, are in a brawl over the utility’s withdrawal from NEI. NextEra, along with New Orleans-based Entergy, withdrew from NEI in January, dealing a major blow to a trade group under pressure for achieving few results with a large budget. When the two … More NextEra, NEI in a nasty brawl