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Biggest US electric grid grappling with increasing demand Payouts of $14.7 billion exceeded $2.2 billion in last auction Power plants on the largest US electric grid just won record payouts in an auction intended to boost the system’s reliability. But experts say it still won’t be enough to spur big investment in projects needed to …
It Will Take More Than Record Payouts to Spur New Power Plants Read More »
(Reuters) – The Biden administration said on Tuesday it is investing $2.2 billion to revamp the nation’s power grid to protect it against growing threats of extreme weather events. The U.S. government has been working to overhaul the country’s electric transmission system, which is under pressure from extreme weather conditions, as well as a growing number of …
U.S. to Invest $2.2 Billion to Overhaul National Power Grid Read More »
By Reuters Private equity firm Quantum Capital Group will buy U.S. independent power producer Cogentrix Energy for about $3 billion from funds managed by the Carlyle Group, the companies said on Monday. Utilities are attracting increased investor interest as technological innovations, including artificial intelligence and data centers, bolster power demand. In May, investment firms …
Quantum Capital to Buy Cogentrix for $3 Bln in Bets on Rising U.S. Power Demand Read More »
(Reuters) – Hawaiian’s largest utility said on Friday it had agreed to pay roughly half of a more than $4 billion legal settlement that will compensate victims of last year’s deadly Maui wildfires. Blazes tore through Maui on Aug. 8 2023, killing over 100 people, destroying the historic coastal town of Lahaina and causing damage …
Hawaiian Electric Agrees to Pay About Half of $4 Billion Maui Wildfire Settlement Read More »
By John Kemp LONDON, July 30 (Reuters) – U.S. electricity generators consumed a record amount of gas in the first four months of the year as prices slumped to the lowest level in real terms for more than half a century. Ultra-low prices encouraged more power production from some of the least-efficient single-cycle gas and …
(Reuters) – Electric and gas utility CenterPoint Energy (CNP.N) said on Tuesday it expects total costs to restore facilities damaged by Hurricane Beryl to be in the range of $1.2 billion to $1.3 billion. Earlier this month, Hurricane Beryl made landfall near the coastal town of Matagorda, Texas, causing significant damage to CenterPoint electric subsidiary’s delivery system. Nearly …
CenterPoint Energy Sees up to $1.3 Bln in Restoration Costs After Hurricane Beryl Read More »
PJM set to release pricing details for securing power supply Baltimore, Virginia are poised to earn premiums in auction More than 65 million Americans are facing the prospect of significantly higher electricity prices next year, thanks to shrinking energy supply and rising demand on the biggest US electric grid. An increase for the year starting …
Almost 20% of Americans Face Prospect of Higher Electric Bills Read More »
By Arathy Somasekhar (Reuters) – Nearly a million homes and businesses in Texas remained without power on Friday, five days after Hurricane Beryl made landfall with fierce winds and rain that knocked down trees and electricity infrastructure. CenterPoint Energy , the largest power provider in Texas, said about 860,000 of its customers remained affected. It has …
Nearly a Million Homes, Businesses in Texas Still Without Power After Hurricane Beryl Read More »
(Reuters) – Over 300,000 homes and businesses in Texas were without power on Monday as Category 1 hurricane Beryl made landfall, according to data from PowerOutage.us. Hurricane Beryl made landfall near Matagorda, Texas, but was forecast to weaken later on Monday and Tuesday as it moves inland. CenterPoint Energy, which supplies nearly 2.6 million customers, …
More Than 300,000 Homes Without Power in Texas Due to Hurricane Beryl Read More »
Electrical pylons and power lines are seen in Yanqing district of Beijing, China December 17, 2021. REUTERS/Tingshu Wang/File Photo By John Kemp (Reuters) – China’s record-breaking deployment of wind and solar capacity has worsened regional power imbalances, forcing the country to idle increasing amounts of renewable generation when it overwhelms local consumption. New government regulations aim …
China’s Rapid Renewables Rollout Hits Grid Limits Read More »
