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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. […]

November 5, 2016 Read More →

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 […]

October 27, 2016 Read More →
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 […]

October 26, 2016 Read More →

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 […]

October 17, 2016 Read More →
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 […]

September 22, 2016 Read More →
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 […]

September 12, 2016 Read More →
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 […]

September 8, 2016 Read More →
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 […]

August 24, 2016 Read More →
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 […]

August 3, 2016 Read More →
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 […]

More News and Commentary

On Earnings Calls, U.S. Utility Execs Talk Now of Transition

SNL: When power generators talked about coal on second-quarter earnings calls, many were talking about moving away from the fuel, an S&P Global Market Intelligence review of recent earnings reports found. While the coal sector has enjoyed a lift from improvements in international demand for metallurgical coal, U.S. producers have historically played a somewhat limited […]

August 16, 2017 Read More →

Editorial: The Solar Pocketbook

Aiken (S.C.) Standard: MTU America flipped the switch last Wednesday in celebration of its new solar panel field in Graniteville. To create the solar panel field, MTU America collaborated with Sol America, SCE&G, the South Carolina Department of Transportation, Key Equipment Finance and Aiken County. They were praised by S.C. Gov. Henry McMaster for working […]

August 16, 2017 Read More →

Fraud Case Detail Emerges Around Owner of Proposed Mega-Mine in Australia

The Guardian: A global mining giant seeking public funds to develop one of the world’s largest coal mines in Australia has been accused of fraudulently siphoning hundreds of millions of dollars of borrowed money into overseas tax havens. Indian conglomerate the Adani Group is expecting a legal decision in the “near future” in connection with […]

August 16, 2017 Read More →

Kuwait in $1.2 Billion Solar Tender Offer

Bloomberg News: Kuwait will issue a tender to build the estimated $1.2 billion Dibdibah solar-power plant in the first quarter of 2018 as part of the country’s plans to produce 15 percent of power from renewable energy by 2030. OPEC’s fifth-biggest oil producer set a Sept. 7 deadline for companies to express interest in the […]

August 16, 2017 Read More →

Vanguard, Biggest U.S. Mutual Fund, Will Monitor Climate Risk Across Its Holdings

Reuters: Vanguard Group on Monday said it has urged companies to disclose how climate change could affect their business and asset valuations, reflecting how the environment has become a priority for the investment industry. Under pressure from investors, Vanguard and other fund companies have pushed to pass several high-profile shareholder resolutions on climate risk at […]

August 15, 2017 Read More →

Backlash in Wyoming Over Subsidy to Eastern U.S. Coal Producers

Casper Star-Tribune: A proposal to use federal money to help boost the coal industry in the eastern United States is raising protests from Wyoming. Wyoming Mining Association Executive Director Travis Deti says he thinks it’s “misguided” to provide federal support to a particular region over another. Deti says Wyoming coal would be at a competitive […]

August 15, 2017 Read More →

On the Blogs: ‘Powering the Next Billion Consumers Will Look Very Different Than Powering the First’

Bloomberg New Energy Finance: More than a billion people worldwide live without reliable access to electricity. Providing them with power will require hundreds of billions of dollars of investment, vast deployment of technology, and adaptable business and financial market strategies. Much of the job can be done with power generation systems that are not connected […]

August 15, 2017 Read More →

China Hits Pause on Coal-Fleet Expansion

Xinhua (China State News Agency): China is holding back on building new coal-fired power plants to avoid risks from overcapacity and promote a clean energy mix. A total of 150 million kw of new coal power generation capacity will see construction halted or postponed from 2016 to 2020, the 13th Five-Year Plan period, according to […]

August 15, 2017 Read More →

Australia Natural Gas Export Overbuild Is Collapsing

The Guardian: Australia’s natural gas export boom, which is causing soaring gas prices and pushing up carbon emissions, appears to be rapidly shedding value. Santos wiped more than $1bn off the value of its liquefied natural gas plant in Queensland on Tuesday, just a week after Origin announced a similar devaluation. The devaluations were predicted […]

August 15, 2017 Read More →

Competitors Don’t Like West Virginia Governor’s Proposal for Federal Subsidy to Coal Producers in His State

Bloomberg BNA: Coal companies from outside Appalachia, and the Republicans in Congress representing them, are taking a dim view of West Virginia Gov. Jim Justice’s efforts to win a $4.5 billion subsidy for eastern coal. To those non-Appalachian coal companies, Justice’s request for a $15 per ton subsidy to power plants that burn regional coal […]

August 14, 2017 Read More →