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(Reuters) – Duke Energy beat Wall Street estimates for first-quarter profit on Tuesday, as the utility benefited from higher rates and robust demand for electricity. Income from Duke’s electric utilities segment jumped 29% to $1.02 billion. “We have a clear path forward that will deliver sustainable value and 5% to 7% earnings growth over the next …
Duke Energy Beats First-Quarter Profit Estimates on Higher Rates Read More »
(Reuters) – Allete said on Monday a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners would acquire the U.S. utility for $6.2 billion, including debt. The partnership would pay $67 per share in cash for all outstanding common shares of Allete, a premium of nearly 19.1% to the company’s closing share price …
U.S. Utility Allete Goes Private in $6.2 Bln Deal Read More »
(Reuters) – The White House on Tuesday reformed the U.S. environmental review process for major projects which officials said would speed up approval of everything from transmission of power from wind and solar farms to semiconductor manufacturing. The reforms are the second and final phase of the administration of President Joe Biden’s adjustments to the …
U.S. Reforms Environmental Law to Speed up Clean Energy, Infrastructure Approval Read More »
August prices for Dallas hit an 82% premium from a year ago Grid operator Ercot issues power warning for next week A surge in Texas power prices for August suggests another summer of heavy electricity demand — and potential grid strain — to meet air-conditioning needs. Traders start looking at prices months in advance to …
Texas Power Prices Signal Grid Stress in Another Long, Hot Summer Read More »
An apartment tower in downtown Brooklyn has ditched fossil fuel heating and appliances as new city rules on energy efficiency are phased in. By Kendra Pierre-Louis In a city that often feels stitched together by scaffolding, the development known as the Alloy Block — on a bustling street in downtown Brooklyn, across from the red-and-silver sign …
New York’s First Electric Skyscraper Promises Luxury With Lower Emissions Read More »
(Reuters) – U.S. electric utilities predict a tidal wave of new demand from data centers powering technology like generative AI, with some power companies projecting electricity sales growth several times higher than estimates just months earlier. Nine of the top 10 U.S. electric utilities said data centers were a main source of customer growth, leading …
U.S. Electric Utilities Brace for Surge in Power Demand from Data Centers Read More »
As utilities shell out to fortify, decarbonize and expand their grids, US ratepayers are footing the bill. Bloomberg Alfredo De Avila grows increasingly frustrated when his electricity bill arrives each month. Price gains for groceries and other household essentials have eased in the past year, but the rising cost of power is still eating into …
Power Bills Will Keep Rising Even After the Fed Tames Inflation Read More »
(Reuters) – Electric grids across the U.S. are anticipating a rapid decline in solar generation during Monday’s total solar eclipse, which will span multiple states. NASA estimates the path of totality – when the sun is fully blocked by the moon – will last from 1:30 pm CDT (1830 GMT) to 2:35 pm CDT in …
How Monday’s Total Solar Eclipse Affects U.S. Grid Operators Read More »
Meeting demand and transitioning to clean energy amid geopolitical tensions will dominate conversations among industry heavyweights at CERAWeek in Houston next week. More than 7,000 people are headed to Houston this week to attend CERAWeek by S&P Global with a key question in mind: How to meet increasing demand for power amid the transition to …
CERAWeek’s Yergin on What to Expect at Big Energy Conference Read More »
The Texas power grid is poised to lose a big natural gas-fired power plant, potentially straining a system that’s already grappling with an exodus of fossil fuel generation. CPS Energy plans to “indefinitely suspend operations” of three units of the V.H. Braunig facility totaling 859-megawatts by March 31, 2025, according to a notice posted by the Electric …
Strained Texas Power Grid Is Poised to Lose a Big Gas Plant Read More »
