Archive: Finance

Leadership Shakeup at ABB Amid Power Grids Business Overhaul

Only months after ABB announced Hitachi would acquire a majority stake in its flagship power grids business for $11 billion, the company’s board of directors ousted CEO Ulrich Spiesshofer and officially launched a search for a new leader.  The Zurich-based technology giant said on April 17 that the board of directors and Spiesshofer “mutually agreed […]

The Economic Thicket of Generating Cost Comparisons

Comparing the costs of differing electric generating technologies has become popular among advocates for particular technologies and those seeking to find the optimal approach to new generation. While getting

Bagging DOE Support, Westinghouse Eyes Demonstration for Nuclear Micro-reactor by 2022

The Department of Energy (DOE) is funding a project that would prepare Westinghouse’s 25-MWe eVinci micro-reactor for nuclear demonstration readiness by 2022.  The agency on March 27 said it will provide $12.9 million of the estimated $28.6 million Westinghouse needs for a project to prepare the micro-reactor for a demonstration, including for design, analysis, licensing […]

Germany’s Coal Exit Bound to Be Complicated

Eight years after Germany decided it would halt nuclear power production by 2022, the country that relied on lignite and hard coal for 38% of its generated power in 2018 will phase out coal by 2038 or earlier

COP24’s Hefty Impact on the Power Sector

Two weeks of intense negotiations at the 24th meeting of the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP) in Katowice, Poland, last December culminated in

Colstrip Power Plant Threatened by Westmoreland Bankruptcy

The Colstrip Power Plant, a four-unit, 2,094-MW coal-fired station located about 100 miles east of Billings, Montana, could see its coal supply contract nullified as a result of Westmoreland Coal Co.’s Chapter 11 bankruptcy reorganization. Westmoreland operates the 25,000-acre Rosebud coal mine, among others. Rosebud is adjacent to the Colstrip plant and supplies almost all […]

Despite Financial Hurdles, Utility Capital Spending to Remain Elevated

Despite higher taxable income and pressure on balance sheets, capital spending by regulated utilities will remain elevated—and much of it will be dedicated to replacing aging infrastructure, hardening or efficiency-boosting measures, and on renewables and environmental projects, said Moody’s Investors Service in a recent sectoral briefing.  The credit ratings agency for the first time this […]

A Legal Guide to Power Generation Mergers and Acquisitions

A myriad of issues come into play when parties execute power industry mergers and acquisitions. Part 1 of this two-part series examines what dealmakers need to know before making any transactions