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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

In Seeking White House Intervention, Protectors of Arizona Coal Plant Battle Market Realities

Amy Harder, Russell Gold, and Timothy Puko for the Wall Street Journal: President Donald Trump’s promise to help the coal industry could be facing its first big test: the decision earlier this week to close a large Arizona coal-burning power plant, and a demand that Mr. Trump prevent that shutdown. Majority owners of the Navajo […]

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On the Blogs: A ‘Robust, Enduring Strain of Bipartisanship’ in Support of Renewable-Energy Industries

David Roberts for Vox: On Monday, a bipartisan group of governors sent President Trump a letter touting the benefits of renewable energy. Among other things, the letter pointed to the $222 million a year that wind farms pay to rural landowners and the $100 million a year renewable energy businesses invest in low-income areas. It […]

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On the Blogs: Moody’s Sees Energy Transition Momentum as Unstoppable

Joe Walsh for EnvironentalFinance.com: Moody’s Investors Services points to the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosure (TCFD) as evidence of the direction of climate policy momentum in the financial sector. It is a growing area, with signatories to the Principles for Responsible Investment (PRI) growing fivefold from 2006 to 2016. Moody’s […]

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Germany’s ‘Energy Revolution’ Is Felt in Poland and Czechoslovakia

Zeke Turner for the Wall Street Journal: A battle is raging in Central Europe over the balance of power—the electrical kind. Poland and the Czech Republic see Germany as an aggressor, overproducing electricity and dumping it across the border. Germany sees itself as a green-energy pioneer under unfair attacks from less innovative neighbors. As part […]

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On the Blogs: Why Allianz Is Investing Where the Wind Blows

Asa Gibson for EnvironentalFinance.com: Some 12 months ago, Allianz Capital Partners (ACP) reached a milestone when it closed its first renewable energy allocation outside Europe with a tax equity investment in a US wind farm. Since then, the in-house alternative asset manager of German insurance group Allianz has quadrupled its exposure to US wind using […]

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U.S. Renewables Generation Has Tripled Since 2008 but Continues to Lag China and Europe

Quirin Schiermeier for Nature Weekly Journal of Science: Renewable-energy capacity in the United States has more than tripled since 2008, according to a report published this month on US sustainable energy by the Business Council for Sustainable Energy (BCSE), an industry group. Energy capacity from sustainable energy sources such as wind, solar, biomass and geothermal […]

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A New Spot Record for Wind Generation: 52.1% Grid Penetration Across Central U.S.

Scott DiSavino for Reuters: Wind briefly powered more than 50 percent of electric demand on Sunday, the 14-state Southwest Power Pool (SPP) said, for the first time on any North American power grid. SPP coordinates the flow of electricity on the high voltage power lines from Montana and North Dakota to New Mexico, Texas and […]

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Op-Ed: Ohio Governor’s Embrace of Renewables Can Be Replicated in Wisconsin

Josh Zepnick for the Milwaukee Journal Sentinel: Ohio Gov. John Kasich recently vetoed a bill that would have made statewide renewable and energy efficiency standards in Ohio voluntary for the next two years. Kasich understands that businesses that are the future of Ohio are committed to renewable energy. It is better for all sectors of […]

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Nevada Bill Highlighting Economic Benefits Proposes 50% Renewables Portfolio by 2040

From the Northern Nevada Business Weekly: Nevada business owners said legislation introduced Monday night by in the Nevada Legislature would set the state up to become a regional and national clean energy leader. A bill introduced by Assemblyman Chris Brooks of Las Vegas would promote the state’s renewable energy economy and put more Nevadans to […]

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On the Blogs: Call for NYC Pension Funds Divestment

From CommonDreams.org: Over 100 New Yorkers rallied at Comptroller Scott Stringer’s office, delivering a divestment valentine with thousands of petition signatures urging the City’s pension funds to divest coal, oil and gas holdings. Mayor De Blasio expressed public support for a Seattle-like divestment of the City’s pension funds, cutting ties with the banks financing the […]

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