Business

GE Completes Alstom Acquisition. GE announced on Nov. 2 that a $10.6 billion deal to acquire Alstom ’s power and grid business is complete. Alstom will now entirely refocus its activities on rail transport

The UK has canceled its flagship £1 billion ($1.5 billion) competition to help commercialize carbon capture and storage (CCS) technology from power plants. The decision by the Department of Energy and Climate Change (DECC) was announced in a three-sentence release to the London Stock Exchange just days before crucial climate change negotiations are due to […]

Another month, another premature nuclear plant retirement. About two weeks ago, Entergy finally threw in the towel on the James A. FitzPatrick Nuclear Power Plant in Scriba, N.Y., a move that came as a surprise to exactly no one who has been paying attention to the merchant nuclear business in the U.S. the past few […]

The cabinet of Angela Merkel’s ruling coalition has endorsed changes to the German electricity market, ensuring their passage into law. “This is the largest reform of the electricity market since the energy markets were liberalised in the 1990s, and it will make the electricity market fit for the 21st century,” said Energy Minister Sigmar Gabriel. […]

The final session of the annual meeting of the National Association of Regulatory Utility Commissioners (NARUC) in Austin ended on Nov. 11 on a “high note,” as outgoing president and Florida Commissioner Lisa Edgar had promised, with a panel titled “The Straight Dope on Energy & the Marijuana Industry.” The subtitle, “(Don’t laugh, it could […]

The world must have carbon capture and storage (CCS) technology to address climate concerns, but commercializing CCS will require a level playing field, an industry advisory council appointed by the Department of Energy (DOE) underscores in a new white paper. The report released by the National Coal Council (NCC) on Nov. 10 responds to a […]

Falling power and gas prices will impact the operating cash flows of unregulated U.S. utilities in 2016, but regulated utilities will see a more stable outlook owing to a supportive regulatory environment, Moody’s Investors Service said in a new analysis of fundamental business conditions released on Nov. 6. Moody’s changed its 2016 industry outlook for […]

Italian energy giant Ansaldo Energia says its acquisition of Alstom’s GT 26 and GT36 gas turbine assets and technology, as required by European regulators, will allow the company to increase its turnover twofold in the coming five years. The firm owned 44.8% by Italian state-owned holding company Fondo Strategico Italiano and 40% by Chinese equipment […]

Entergy Corp. said on Nov. 2 that it would retire the James A. FitzPatrick Nuclear Power Plant in Scriba, N.Y., at the end of its current fuel cycle due to the facility’s “continued deteriorating economics.” The plant—located in Oswego County on the southeast shore of Lake Ontario—is an 838-MW boiling water reactor commissioned in July […]

Following regulatory approval of a $10.6 billion transaction in over 20 countries and regions, GE’s acquisition of Alstom’s energy activities is now complete. GE and Alstom sealed the deal first proposed in early 2014 with the signing of a 1,500-page “master agreement.” GE had initially proposed buying Alstom’s lucrative business for €12.35 billion, but following […]