Report- When, Not If: Bridgeport’s Future and the Closing of PSEG’s Coal Plant
When, Not If: Bridgeport’s Future and the Closing of PSEG’s Coal Plant (PDF) Presentation: When Not If_ Bridgeports Future and the Retirement of PSEG’s Coal Plant (PPT)
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PSEG reaches deal to sell gas-fired plants to private equity firm
Bloomberg ($): Public Service Enterprise Group, New Jersey’s largest utility owner, reached a deal to sell a portfolio of natural gas-fired power plants for about $1.92 billion as part of its effort to reorient the company and curb its carbon emissions. The sale to a fund controlled by ArcLight Capital Partners is scheduled to close […]
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PSEG views offshore wind opportunities, closer to fossil fuel fleet sale
S&P Global Market Intelligence ($): Public Service Enterprise Group Inc. plans to seize on a significant opportunity to invest in offshore wind infrastructure in New Jersey and is closer to making an announcement on the sale of its fossil generation fleet, company management told investors and analysts. New Jersey is soliciting proposals through the PJM […]
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PSEG speeds up net-zero goal by 20 years to reach target by 2030
Reuters: Diversified New Jersey power and gas company Public Service Enterprise Group Inc (PEG.N) said Thursday it has accelerated its net-zero greenhouse gas ambitions to 2030 from 2050. The new target from the group, whose assets include New Jersey’s largest gas and electric utility, is one of the most aggressive net-zero goals set by any […]
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DTE retires last unit of River Rouge coal-fired plant
Power Magazine: DTE Energy has retired the last operating unit of its River Rouge coal-fired power plant along the Detroit River, a facility that came online in 1956 and entered commercial operation in 1958. The utility on June 4 said River Rouge, located just southwest of Detroit, Michigan, operated for the final time on May […]
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Group of U.S. utilities backs proposal to cut carbon emissions by 80% by 2030
Reuters: A group of U.S. electricity companies wrote to President Joe Biden this week saying it will work with his administration and Congress to design a broad set of policies to reach a near-term goal of slashing the sector’s carbon emissions by 2030. Washington should implement policies, including a clean energy standard, or CES, to […]
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Battery storage cost reductions making solar, wind the generation technologies of choice
The Wall Street Journal: A global wave of investment in high-capacity batteries is poised to transform the market for renewable energy in coming years, making it more practical and affordable to store wind and solar power and deploy it when needed. Government-owned utilities and companies are buying batteries that can be larger than shipping containers. […]
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New Jersey utility PSEG pledges to be carbon-free by 2050
CNN Business: PSEG has relied on fossil fuels to keep the lights on for the past 116 years. Now, New Jersey’s largest and oldest power company is pledging to deliver carbon-free electricity to fight climate change. The $30 billion utility provider announced Thursday that it’s on track to slash carbon emissions by 80% by 2046, […]
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New Jersey utility to take $415 million hit to exit coal generating business
Bloomberg: Public Service Enterprise Group Inc., the owner of New Jersey’s biggest utility, agreed to sell its stakes in two Pennsylvania power plants at a loss, marking the last steps in its plan to exit from coal. The deal to sell its stakes – about 23% each – in the Keystone and Conemaugh plants is […]
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In Closure of Diablo Canyon Power Plant, a Concession That the Future Is Not Nuclear
Ivan Penn and Samantha Masunaga for the Los Angeles Times: One of California’s largest energy utilities took a bold step in the 21st century electricity revolution with an agreement to close its last operating nuclear plant and develop more solar, wind and other clean power technologies. The decision announced Tuesday by Pacific Gas & Electric […]
IEEFA Puerto Rico: PREPA privatization plan overlooks unionized workers as best asset
Honoring collective bargaining agreements is fiscally sound and economically necessary
Puerto Rico’s Senate and House of Representatives are finalizing an energy policy bill that amends the existing privatization plan for the Puerto Rico Electric Power Authority (PREPA). One of the remaining issues is whether to require future private utility owners to honor existing PREPA collective bargaining agreements with labor unions. The legislature should protect these […]