Finance

The 2,250-MW Navajo Generating Station near Page, Ariz., and the associated Kayenta coal mine may close in 2017.

Toshiba Corp.—the parent of Westinghouse Electric Co.—said it might book huge losses as a result of Westinghouse’s acquisition of the nuclear construction and integrated services business CB&I Stone & Webster Inc. (S&W). Westinghouse closed on its agreement with CB&I in December 2015. When the deal was made, Toshiba estimated that the amount of “goodwill” resulting […]

For all its record-breaking achievements for speed, innovation, and efficiency, the 3,960-MW Sasan Ultra Mega Power Project should have been a POWER Top Plant. But the unique project has been plagued by serious setbacks—including loss of life—that show how perilous the plant construction journey can be. A decade ago, India was suffering a power crisis […]

A unanimous vote by New Mexico’s Public Regulation Commission (PRC) today determined that Public Service Co. of New Mexico (PNM) will be allowed to provide new renewable capacity to a proposed Facebook facility through a special service agreement.

Effectively managing time, budget, and resources has always been the goal of companies involved in constructing power generation projects, but today the challenges in meeting those goals can be greater than ever. Any power generation company involved in new construction or an upgrade or retrofit project hopes it will see completion safely, without exceeding schedule […]

Southern Co.’s Kemper County energy facility—the only carbon capture and storage (CCS) integrated gasification combined cycle (IGCC) power plant that is under construction—is producing syngas using lignite. The plant marked its most significant milestone to date on July 14, said Southern Co.’s Mississippi Power. It means that the first-of-its-kind technology to convert locally mined lignite […]

Projections that coal utilization will decline faster than previously forecast have spurred Babcock & Wilcox Enterprises (B&W) to shed 200 jobs and restructure its traditional power business that serves coal-fired power generation in a bid to reduce overhead and improve efficiency. The Charlotte, N.C.–based energy and environmental technology and service company said on June 28 […]

Hands down, 2015 was a record year for global investment in renewable energy. Excluding large hydroelectric projects, the amount of money committed to renewables rose 5%, to $285.9 billion, exceeding the previous record of $278.5 billion reached in 2011.

The volume and value of mergers and acquisitions (M&A) in the first quarter of this year have soared, according to the accounting and financial consulting firm PwC. According to PwC’s quarterly snapshot, American Power & Utilities Deals: Q1 2016, “The first quarter was the most active for power and utilities in recent history, with 22 […]

A plan to restructure $9 billion in Puerto Rico Electric Power Authority (PREPA) debt—an eighth of the Commonwealth of Puerto Rico’s staggering $72 billion in debt—surfaced at the U.S. territory’s energy regulator, the Puerto Rico Energy Commission last week on April 7.

Exelon’s acquisition of Pepco Holdings was approved March 23 as the District of Columbia Public Service Commission approved the deal by a 2-1 vote.

Although new microgrid configurations, technologies, and business models are still evolving in the U.S., some lessons have been learned in the past few years. Aside from the fact that financing nontraditional/non-campus microgrids is hard, if there’s one overarching lesson, it’s that a microgrid designed to provide only one benefit or rely on only one generation source is unlikely to succeed.

Closure of Exelon’s 614-MW R.E. Ginna and Entergy’s 882-MW James A. FitzPatrick nuclear plants will leave New York with a statewide power deficiency starting in 2019, the New York Independent System Operator (NYISO) has concluded. A generator deactivation assessment issued on February 11 that is focused on reliability impacts stemming from the deactivation of the FitzPatrick […]

Duke Energy is considering the sale of all or most of its international power plants, about 4,400 MW dispersed throughout Central and South America. The company’s international business segment, Duke Energy International (DEI), was forced to make the disclosure in light of a required statement from its Brazilian subsidiary, Duke Energy International, Geração Paranapanema S.A. […]

Canadian utility Fortis wants to acquire ITC Holdings Corp., the largest independent electric transmission company in the U.S., to benefit from “low-risk” regulated power markets. The deal valued at about $11.3 billion will allow Fortis to enter the U.S. regulated power market overseen by the Federal Energy Regulatory Commission (FERC), providing a “unique, highly diversified, […]

The Environmental Protection Agency’s (EPA’s) acting administrator of the Office of Air and Radiation, and the Department of Energy’s (DOE’s) head of clean coal and carbon management gave upbeat assessments of the Obama administration’s regulatory agenda and power sector priorities speaking at the EUEC 2016 conference in San Diego on February 3. Janet McCabe of […]

A summary of POWER’s legal affairs conference on power industry regulations.

Fusion provides the energy of the sun and all stars, but harnessing fusion for civilian electric power has proven exceptionally difficult. For over 50 years the U.S. government has pursued

A status update and forecast for solar photovoltaic power in Greece, Croatia, and Italy.

In a major boost to the wind and solar industries, Congressional leaders agreed on a multiyear extension of renewable energy tax credits, which could provide several years of predictable policies, encouraging investment in new projects. The tax credits are part of a 2,009-page omnibus-spending bill unveiled by the House Appropriations Committee on Dec. 15. The […]

Shaken financially by low natural gas prices and subsidized renewables, the nuclear industry has launched a new initiative to reduce nuclear power plant operating costs to make them more economically viable. Industry group the Nuclear Energy Institute (NEI) said on Dec. 8 it is coordinating a multifaceted effort in tandem with member utilities, the Institute […]

Germany’s largest power generator RWE, following in the footsteps of its competitor E.ON, plans to split its company to bank on renewable energy and grid operations, which it says is the future for utility companies. If approved by RWE’s supervisory board, the Essen-headquartered company that produces more than 40% of its power from hard coal […]

The world has a problem. According to the World Bank, 1.1 billion people lack access to any form of modern energy service, and more than double that number lack access to adequate, reliable, affordable, and

Germany’s nuclear power–producing companies will be able to shoulder the costs of the nuclear phase-out—including costs for decommissioning and the disposal of radioactive waste. That’s according to

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 […]

Mississippi Power has revealed a new cost increase of $110 million for its Kemper County integrated gasification combined cycle (IGCC) facility. But, the company said that it has tested one of two gasification units—reaching what it says is the project's "most significant milestone yet"—and that it does not expect any new delays. Testing the gasifiers […]

Will rooftop solar photovoltaics be the most economical way to deploy today’s hottest new generating technology, or will central utility solar PV systems be the best economic bet? Is there a third way? The answer appears to be “yes.” Solar photovoltaic (PV) power has emerged as the hottest new trend in renewable energy generation, primarily […]

In the early 2010s, the Electric Reliability Council of Texas (ERCOT) was staring down the barrel of dangerously low reserve margins, a combination of growing demand and an energy-only wholesale market that

Furthering efforts to encourage clean energy innovation, the Energy Department released a funding opportunity announcement (FOA) to support the research, development, and demonstration of advanced reactor concepts. The announcement represents an early step in increasing investment in nuclear advanced reactor technologies, which have the potential to provide substantially enhanced operational performance, safety, security, economics, and […]

Talen Energy Corp. announced on July 20 that it has agreed to acquire MACH Gen LLC, which owns three combined cycle, natural gas–fired power plants with more than 2.5 GW of total capacity for $1.175 billion. Talen Energy was formed on June 1 when PPL Corp. spun off its PPL Energy Supply business and combined […]