News

Jacksonville, Fla., municipal utility JEA last week signed an agreement with Duke Energy that gives it the option to buy up to 20% of the power generated by Duke Energy’s planned 2,234-MW Lee Nuclear Station when it becomes operational in 2021.

The rupture of a 6-inch steam pipe at Unit 1 of the 1,884-MW coal-fired Homer City Generating Station in Indiana County, Pa., last week tripped the unit and sent six workers to area hospitals with burns.

The power sector saw steady, modest growth of merger and acquisition activity during the last three months of 2010, recently released analysis from PricewaterhouseCoopers (PwC) shows. The largest 25 announced deals decreased 37% in value, to $19.3 billion, compared to $30.8 billion in the fourth quarter of 2009, but financial buyers maintained investments in power deals in 2010 while corporate buyers continue to lead deal activity due to large amounts of cash to invest, PwC said.

The Department of Energy (DOE) on Tuesday issued its first loan guarantee for a transmission project, committing $343 million to develop the One Nevada Transmission Line (ON Line) project. Jointly owned by Great Basin Transmission South and NV Energy, the proposed 500 kV AC transmission line is expected to carry 600 MW nearly 235 miles from Ely, Nev., to just north of Las Vegas.

GE Hitachi Nuclear Energy (GEH) today announced it has signed an agreement with Lockheed Martin. The two U.S.-based companies will join forces to design and build what they say will be the world’s most advanced digital control systems and nuclear reactors.

President Obama’s $29.5 billion Department of Energy (DOE) budget for fiscal year (FY) 2012 increases priority for renewable and nuclear energy technology research while cutting subsidies to fossil fuel energy. It also calls for a $1.3 billion cut to the Environmental Protection Agency (EPA).

The Department of Energy (DOE) last week released additional details of its “SunShot Initiative,” a program that seeks to reduce the total costs of photovoltaic (PV) solar energy systems by about 75% before 2020 so that costs for PV systems can compete with other forms of energy without subsidies.

Agriculture Secretary Tom Vilsack today announced the selection of Basin Electric Power Cooperative to receive a loan guarantee to construct more than 100 wind turbines to produce 151.5 MW of electricity. The loan guarantee will provide financing for engineering, procurement, construction, and commissioning of the PrairieWinds wind farm energy project in central South Dakota.

Sen. James Inhofe (R-Okla.) and Environmental Protection Agency (EPA) Administrator Lisa Jackson were questioned by panels of the House’s Subcommittee on Energy and Power this morning as part of a discussion on draft legislation that seeks to strip the EPA of its authority to regulate greenhouse gases (GHGs). The legislative hearing’s witnesses also included other major players in the climate change regulatory debate, such as Texas Attorney General Greg Abbott.

Canadian companies TransAlta Corp. and TransCanada Corp. are at odds over TransAlta’s abrupt notice on Tuesday that it will close and destroy its Sundance 1 and 2 coal-fired units near Edmonton, Alberta. TransCanada, which buys power from the units under a power purchase agreement (PPA) agreement, said today it had not received validation of TransAlta’s determination that the plants were so corroded that they could not be economically restored to service.