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IEEFA Research

IEEFA Report: Three Timely Takeaways on 2016 Global Energy Transformation

IEEFA Report: Three Timely Takeaways on 2016 Global Energy Transformation

An Acceleration to Renewables, Faster-Than-Expected Shifts Regionally and Nationally, Growing Risk for Investors Who Lag Behind

Three notable takeaways emerge from the rapid transformation of the global energy economy, as we detail in a new paper we published today as the landmark Paris Agreement officially goes into effect. The global transition to renewables is accelerating. Change is happening faster than expected. Those left behind in this transition face growing financial risk. […]

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IEEFA Exxon: Telltale Crossover in Late 2014 Marks Where a Major Oil Stock Began to Go South

A Decoupling From the Larger Stock Market 2 Years Ago Portends a Future in Which the World’s Biggest Oil Company Will Be Smaller and Will Not Pay Out as Much in Shareholder Distributions

The world is moving in fits and starts but with gathering momentum toward a more diversified, low-carbon energy mix. The evidence is all around us. One exhibit, of many, is in the report we published this week—“Red Flags on Exxon: A Note to Institutional Investors”—which includes the chart here: ExxonMobil Financial Performance, 2006 – 2015 […]

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IEEFA Report: Red Flags on ExxonMobil: Core Financials Show a Company in Decline

IEEFA Report: Red Flags on ExxonMobil: Core Financials Show a Company in Decline

Potentially Irreversible Slide; Falling Revenues, Rising Debt, Shrinking Capex, Weak Cash Balances Add to Growing Reputational Risk Tied to Climate-Change Controversy; ; Institutional Investors Owe Their Shareholders a Fiduciary Review

CLEVELAND, Oct. 26, 2016 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis (IEEFA) published a report today that indicates deep financial weaknesses at ExxonMobil (XOM) and suggests the company is in potentially irreversible decline. The report—“Red Flags on ExxonMobil (XOM)”—by IEEFA Director of Finance Tom Sanzillo, cites key metrics that include a 45 […]

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IEEFA Global: A $51 Billion Gap (and a $51 Billion Opportunity) in BRICS Nations’ Renewable Energy Development

How to Meet the Goal? Through "Blended Finance" Where Public Funds Unleash Private Money

Here, in one chart, is an IEEFA picture worth a thousand words. While some $130 billion was invested last year in renewable-energy development in the BRICS countries—Brazil, Russia, India, China, and South Africa—billions more are required if these countries are to meet their commitments to climate-change mitigation policies. The four countries, in all, have announced […]

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IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

IEEFA Europe: Blueprint for a Lignite Phase-Out in Germany

Foundation-Based Approach to Closure and Clean-Up; New Czech Owners of Vattenfall Assets in Lausitz Can Afford to Foot the Bill; a Timeline That Helps Local Communities Prepare for Transition

The recent “sale” by the Swedish state-owned utility Vattenfall of its German lignite assets throws a harsh light on a dark paradox: the continued use of the world’s most carbon-intensive fuel by a country with some of the most ambitious targets to tackle climate change. The deal transfers a cluster of lignite mines and their […]

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IEEFA Texas: The Beginning of the End for Coal-Fired Electricity Across One of the Biggest Power Markets in the U.S.

IEEFA Texas: The Beginning of the End for Coal-Fired Electricity Across One of the Biggest Power Markets in the U.S.

Report Finds Seven Plants Emblematic of a Fading Industry

We published a research report today describing how the coal-fired electricity industry in Texas is in decline and unlikely to recover in the face of rising competition from other energy sources. Our report—“The Beginning of the End: Fundamental Changes in Energy Markets Are Undermining the Financial Viability of Coal-Fired Power Plants in Texas”—looks specifically at […]

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IEEFA Report: A Cynical Re-Regulation Strategy in West Virginia

IEEFA Report: A Cynical Re-Regulation Strategy in West Virginia

FirstEnergy’s Machinations Around the Pleasants Power Station Are Designed to Shift Risk to Ratepayers

In seeking to get the West Virginia Public Service Commission to allow it to sell all or a portion of its Pleasants Power Station, Ohio-based FirstEnergy Corp. is following a strategy of re-regulation that stands to benefit shareholders at ratepayer expense. The coal-fired 1,300-megawatt Pleasants plant is currently owned by a FirstEnergy deregulated subsidiary, Allegheny […]

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IEEFA Ohio: Damn Tradition, Bailouts Are Where It’s At

IEEFA Ohio: Damn Tradition, Bailouts Are Where It’s At

Update: FirstEnergy Piles Insult Onto Billions of Dollars in Injury by Threatening to Move Its Headquarters From Akron

Call me old-fashioned, but I’ve always thought investor-owned electric utilities were set up to provide power to consumers who paid for what they got.    In states where electricity is deregulated, utility companies compete for customers—just like any other business does. And in states where utilities are regulated, public-utility commissions determine how rates are set […]

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IEEFA Report: India Clings to Questionable Ultra Mega Power Plant Plans

IEEFA Report: India Clings to Questionable Ultra Mega Power Plant Plans

Viability Issues Continue to Complicate New Coal-Fired Projects

We’ve published a report today noting that while India has undergone an admirable energy-policy shift over the past few years, it is clinging unwisely to plans to build two costly coal-fired Ultra Mega Power Plants. Our report—“India’s Questionable Ultra Mega Power Plans”— details how these UMPP projects stand in jarring contrast to better-advised initiatives that […]

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IEEFA Kentucky: Owensboro Coal-Fired Power Plant Is No Longer Viable


IEEFA Kentucky: Owensboro Coal-Fired Power Plant Is No Longer Viable


Increasingly Expensive to Operate and a Drain on Ratepayers 


We’ve published a memorandum today explaining why the aging coal-fired Elmer Smith power plant in Owensboro, Ky., must be retired soon and how Owensboro Municipal Utilities would do well to invest in renewable electricity generation instead. Our memorandum describes how the plant—whose two units date from 1964 and 1974—has become increasingly uneconomic to operate and […]

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More News and Commentary

Corporate Backlash Over White House Campaign Against Energy Efficiency

Associated Press: More than 1,000 U.S. companies, including some of the nation’s largest manufacturers, are urging Congress to preserve the 25-year-old Energy Star program to promote efficiency in home and business products. President Donald Trump’s proposed budget would eliminate funding for Energy Star, which encourages efficiency in major appliances, office equipment, lighting and home electronics. […]

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On the Blogs: Call for Investment in Coal Communities Abandoned by Trump

JustTransition.org: The initiative announced today is timely and urgently needed, as federal support for coal communities is winding down,” said Heidi Binko, executive director and co-founder of the Just Transition Fund. “As the Trump administration abandons crucial economic development programs, like the POWER Initiative, philanthropy and the private sector must do more to fill the […]

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Op-Ed: A Road to Nowhere

Seattle Times: The reality is that the economic prospects for West Coast coal exports have collapsed. China’s demand for coal, which once seemed limitless, has been falling for three consecutive years. India’s coal imports fell last year and are projected to drop even further as the country increasingly taps domestic coal reserves to fuel its […]

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Pushback by Rival on Australian Subsidy to Indian-Owned Coal Conglomerate

Australia Financial Review: New Aurizon boss Andrew Harding gets a chance this week to remind the broader investment community that the debate about how to pay for a big new Queensland coal railway is more complicated that whether or not Commonwealth can see its way to lending $1 billion to an Indian billionaire. Adani has, […]

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Little Effect Seen in Trump Energy-Policy Rhetoric

Deutsche Welle: Trump signed an executive order that removes several restrictions on fossil fuel production. It was a move that broke with leaders across the world who are embracing cleaner energy sources, and was met with cries of protest internationally. The order has kept to Trump’s campaign pledge to undo former-president Barack Obama’s efforts to curb global warming, by […]

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Danish Renewable Energy Industry Poised to Flourish Sans Subsidies

Bloomberg News: After more than four decades of relying on subsidies, Denmark’s renewable energy industry is ready to survive on its own much sooner than anyone expected. The Danish energy minister, Lars Christian Lilleholt, says that “in just a few years,” renewable energy providers won’t need state support anymore. He says it’s a development he […]

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West Virginia Utility CEO Acknowledges Demand for Renewables

Associated Press: New Appalachian Power Co. President Chris Beam says the utility doesn’t plan to build coal plants anytime soon and that electricity from renewable energy sources is what potential business customers want. Beam is a Wheeling native who understands the role of coal in West Virginia’s economy and culture. He said Appalachian Power still […]

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Southern Co. Investors Question Executive Bonuses as Flagship Kemper ‘Clean Coal’ Plant Disappoints

Dow Jones: Several public pension funds and a foundation issued an open letter Monday to Southern Co. criticizing executive compensation at the Georgia-based utility and urging shareholders to vote against two board members because of the issue. The investors, including the California State Teachers’ Retirement System and the Nathan Cummings Foundation, argue executives are being […]

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Energy Job Trends Favor Solar

New York Times: Last year, the solar industry employed many more Americans than coal, while wind power topped 100,000 jobs. Those numbers come from a Department of Energy report published in January by the Obama administration that provides the most complete picture available of American energy employment. In 2016, 1.9 million Americans were employed in […]

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China Wind Generation Up 26% in First Quarter of 2016

Xinhau News Agency: China’s installed wind power capacity continued to grow in the first quarter this year, according to the National Energy Administration (NEA). China had 151 million kilowatts of installed wind power capacity as of the end of the first quarter, up 13 percent year on year. Provinces of Qinghai, Shaanxi, Henan and Hebei […]

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