Archive: Business

PSEG: Nuclear Plants Will Soon Close Without Subsidies

Public Service Enterprise Group (PSEG) has again told New Jersey officials it needs subsidies to continue operating its three nuclear power units in the state, reiterating that without financial help it will begin closing its Hope Creek Generating Station and Salem Nuclear Power Plant as early as 2022. The three reactors are the only remaining […]

Global Report Warns of Looming Skills Shortages in Power, Nuclear, Renewables Sectors

Power companies worldwide are struggling to balance talent shortages with changing skills needed for an increasingly digitalized business, the newly released Global Energy Talent Index (GETI) suggests.  The Jan. 22–released annual energy recruitment and employment trends report by Airswift, a global energy workforce provider, and Energy Jobline, an online jobsite dedicated to the energy and […]

Sulzer expands facility capability with new lathe

Industrial gas turbines are increasing in size. As a result of this, repair facilities that overhaul and repair these machines must keep pace. One of the key tools is a large lathe. As one of the leading industrial gas turbine and rotor repair providers in the world, Sulzer has recently upgraded its service center in

PG&E: Judge’s Proposal Could Cost Utility $150 Billion

Pacific Gas & Electric (PG&E) on Jan. 23 said a federal judge’s proposal that the utility mitigate fire danger in its service territory by trimming trees, along with inspecting and repairing thousands of miles of power lines, could cost the company as much as $150 billion this year. William Alsup, a judge in the U.S. […]

After 18 Months of Dramatic Turns, Hydro One-Avista Merger Deal Officially Dead

Hydro One, Ontario’s largest transmission and distribution provider, and Spokane, Washington–based U.S. utility Avista Corp., have dropped their merger, citing separate denials of the $5.3 billion deal by regulators in Washington and Idaho. The companies said on Jan. 23 they “mutually agreed” to terminate a merger agreement they announced in July 2017. As required by […]

Insider Bullish on Renewable Energy Industry [PODCAST]

Izzet Bensusan, managing partner and founder of Captona, a North American-focused investment company that specializes in power generation and energy infrastructure, was a guest on The POWER Podcast. He is very bullish on the renewable energy industry for a variety of reasons. For instance, Bensusan said renewable energy is growing at more than 20% around […]

GE Cutting Another 468 Jobs

French labor unions on Jan. 22 said U.S.-based General Electric (GE) will cut 468 jobs at its units in France, including some staff at Alstom Power Systems (APS). GE confirmed to Agence France Press (AFP), a French news service, that talks with its unions on staff reductions are underway. The unions said 229 jobs would […]

China Leads Investment in Coal Projects—and Also Renewables

China continues to finance new coal plants in more than two dozen countries, even as the country has taken the lead in global renewable energy investment, according to a report from a U.S. group of energy analysts. The Institute for Energy Economics and Financial Analysis (IEEFA) in its report said China is backing more than […]

Anholt offshore wind farm

GE, Siemens Separately Announce Developments for Mammoth Offshore Wind Turbines

GE on Jan. 16 announced testing details of its giant 12-MW Haliade-X offshore wind turbine prototype. On the same day, Siemens Gamesa launched its first 10-MW offshore wind turbine model. The developments point to intensifying competition within the surging offshore wind turbine market.  GE’s 12-MW Offshore Wind Turbine Blusters Toward Commercialization GE Renewable Energy’s Haliade-X 12 […]

‘Technically Sophisticated’ Combined Cycle Plant Comes Online

The Lackawanna Energy Center in Pennsylvania entered commercial operation Jan. 15, with the $1.5 billion project heralded by its developer, Invenergy, as among the most “technically sophisticated” combined cycle natural gas-fired plants in operation. The 1,485-MW facility, in the borough of Jessup in Lackawanna County, was completed ahead of schedule and features three General Electric […]

Hitachi May Scuttle UK Nuclear Project

Hitachi may cancel its plans for a $20.5 billion nuclear power project in Wales, according to several media reports from the UK and Japan. The Japanese company is expected to determine the fate of the project at a board meeting this week. The Guardian newspaper was among those that in recent days reported an impasse in […]