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S&P Global Market Intelligence ($): With incentives retained in the Tax Cuts and Jobs Act supporting the development of renewable energy, U.S. electric utilities and their competitive energy arms are moving ahead with certainty on planned solar investments to take advantage of the federal solar investment tax credit, or ITC, before it drops permanently to […]
IEEFA
Axios: One of America’s largest utility companies, Duke Energy, is set to release a report later this month that sketches a drastically changed electricity mix in a carbon-constrained future. Duke is the latest energy company to commit to releasing a report about climate change in response to investor pressure conveyed by non-binding but symbolically important […]
IEEFA
S&P Global Market Intelligence: Duke Energy Corp. expects to funnel more capital into commercial renewables but will continue to focus the bulk of its investments on the grid over the next five years. The updated growth capital plan focuses $28.8 billion on electric utilities, including regulated renewables, and $6.7 billion on gas utilities. The plan […]
IEEFA
S&P Global Market Intelligence: Investors pushing companies to analyze and disclose their climate risks said they believe that those moves have set up a dynamic that will lead to changes in corporate operations. Big investors such as BlackRock Inc. in recent years have joined the effort — through shareholder resolutions, public letters and behind-the-scenes conversations […]
IEEFA
S&P Global Market Intelligence: As the Trump administration pursues policies to benefit the fossil fuel industry, the trend toward decarbonization among electric utilities in the United States is picking up steam. Shareholders have been pushing for investor-owned electric utilities to be more proactive and transparent when addressing environmental, social and governance risks and several management […]
Cathy Kunkel
Little Potential Corporate Loss on a Superfluous Project
Dominion Resources and Duke Energy say they need to build the Atlantic Coast Pipeline to meet rapidly growing demand for natural gas. But will the market really grow in the way that these utilities say that it will? The pipeline, announced in 2014 as a joint venture between Dominion, Duke, Piedmont Natural Gas and AGL […]
IEEFA
Charlotte Observer: Duke Energy said it plans to abandon construction of a nuclear station near Gaffney, S.C., and that it wants customers to pay about $636 million for the scrapped project. Charlotte-based Duke requested Friday that state regulators allow cancellation of its Lee nuclear station, citing in part this year’s bankruptcy filing by nuclear-reactor supplier […]
IEEFA
Charlotte Business Journal: Duke Energy will build three utility-owned and operated solar projects in Kentucky. Construction will start by the end of the summer, and the projects are likely to be online by early 2018, Duke says. This will be the fourth state in which a Duke regulated utility owns solar farms. The three Duke […]
IEEFA
Emery P. Dalesio for the Associated Press: The nation’s largest electric company wants regulators in North Carolina to force consumers to pay nearly $200 million a year to clean up the toxic byproducts of burning coal to generate power. That doesn’t sit well with neighbors of the power plants who have been living on bottled […]
IEEFA
Columbus Dispatch: A proposal to subsidize two coal-fired power plants is no longer on a fast track and might not pass at all. This is a shift from last month, when House Bill 239 seemed to be moving quickly toward becoming law, despite opposition from consumer and environmental groups. The Ohio House Public Utilities Committee […]
IEEFA Report: ‘Natural Security’ Argument for Saving 2 Power Plants Is a Red Herring Meant to Distract From an Ohio Valley Electric Bailout
Keeping Kyger Creek and Clifty Creek on Life Support Would Cost Ratepayers $1.4 Billion; Market Conditions Will Continue to Undermine Viability of Aging Coal-Fired Plants; Public Resources Are Better Spent on Investing in Transition; Neither Generator Is Needed for Grid StabilityJune 20, 2017 (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published a research brief questioning a bill in the Ohio legislature that would bail out two failing coal-fired power plants owned by the Ohio Valley Electric Corporation (OVEC) and keep the plants alive at huge expense to ratepayers. The plants […]