24/7 Wall Street: Peabody Energy Corp. (NYSE: BTU) priced an underwritten secondary stock offering of 12.8 million shares after markets closed Thursday without specifying the per-share price. The shares on offer are being sold by subsidiaries of Discovery Capital Management, and none of the proceeds will go to the company. Peabody intends to repurchase from […]
New York Times: To the Editor: Re “Trump Unravels Coal Mine Limits on Federal Land” (“Trump Rules” series, front page, Aug. 7): Our country’s coal-mining industry is in trouble because it has a market problem, not a regulatory problem. The Trump administration’s plan to expand federal leases on American coal reserves will not help coal […]
Jakarta Post: State-owned electricity company PLN and consumers will be exposed to significant risk of paying for power that is not needed, wasting billions of dollars, if PLN insists on pushing ahead with its plans to expand coal-fired power plants in the Java-Bali system. A recent report published by US-based Institute for Energy Economics and […]
Gladstone Observer: GAS giant Santos has slashed $1.1 billion from the value of its Gladstone Liquefied Natural Gas project on Curtis Island as it continues to deal with low oil prices. The write-down of GLNG was announced yesterday and will be reflected in Santos’s half-yearly results this month. It follows Origin Energy’s decision last week […]
Energy Collective: Two Spanish NGO’s have started a court case against Spain’s capacity market scheme, which they say unnecessarily subsidizes operators of large power plants for billions of euros. Gerard Wynn, independent energy consultant, explains why their arguments are well-founded. According to Wynn, Spain’s capacity mechanism violates EU rules and should be scrapped as soon […]
Corporate Knights: Just how big a giveaway to the Appalachian coal industry is West Virginia Gov. Jim Justice talking about as he lobbies the White House for a $15-per-ton subsidy for coal producers in the region? Central and Northern Appalachia coal fields produced 167 million tons in 2016, which not incidentally was its lowest year […]
RenewEconomy: When it comes to energy it feels like things are moving at lightning speed, and nowhere more so than in South Australia. This state is fast becoming a global leader in the race to renewables. However, when it comes to State Government energy policy it’s a case of five steps forward, two steps back. […]