divest

Public Service Enterprise Group (PSEG) has agreed to sell its 6.8-GW portfolio of non-nuclear generating assets—a fleet of 13 gas plants—to a fund controlled by ArcLight Capital Partners LLC for about $1.92 billion. The sale, which effectively sets up its exit from the competitive generation business, is expected to be completed late in the fourth […]

FirstEnergy Corp.—one of the nation’s largest investor-owned electric utilities, serving customers in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York—has made the strategic decision to exit the competitive power business. “We have made our decision that over the next 12 to 18 months we’re going to exit competitive generation and become a fully […]

Persistently low prices on the wholesale electricity market are forcing RWE—the third-largest electricity provider in Europe, serving 16 million customers—to consider dismantling some gas-fired power plants and shipping them abroad, Dr. Rolf Martin Schmitz, RWE’s COO, told Reuters in an interview. The German-based company has been struggling for awhile. In August 2014, RWE announced that […]

Düsseldorf, Germany–based energy supplier E.ON announced on Jan. 12 that it would sell its Italian coal and gas generation assets to Energetický a Průmyslový Holding (EPH), a Czech energy company. E.ON has been looking for a suitor for the Italian operations since at least Nov. 30 when it announced it was embarking on a new […]

According to a story first reported by Amanda Levin of TheStreet.com, American Electric Power Co. (AEP) has retained the services of Goldman, Sachs & Co. in an effort to unload its 7,923-MW merchant generation fleet. AEP—headquartered in Columbus, Ohio—is one of the largest electric utilities in the U.S., serving over five million customers in 11 […]