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IEEFA
Billings Gazette: Talen Energy, which operates Colstrip Power Plant, is $4 billion in debt and facing negotiations with creditors as its bonds are downgraded to a substantial fundamental credit risk. What the company’s financial troubles mean for its Colstrip future remains to be seen. As the majority of the owners in the southeast Montana power […]
IEEFA
S&P Global Market Intelligence ($): A day after Montana Gov. Greg Gianforte signed into law two bills seeking to extend the life of the Colstrip power plant, one of the last remaining coal-fired generating stations in the Northwest, four of the facility’s owners opposed to the legislation fired back with a lawsuit against two owners […]
IEEFA
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 […]
IEEFA
North American Windpower: Talen Energy Corp., a power generation and infrastructure company, has entered into a joint venture (JV) with Pattern Energy Group LP, a privately owned developer and operator of wind, solar, transmission and energy storage projects. Named PT Energy Transitions, the JV aims to pursue the development, financing, construction and operation of approximately […]
Dennis Wamsted
Two sectors heading quickly in opposite directions
Joe Biden’s win in the U.S. presidential election has sparked thousands of words about coming changes to the electric utility sector; the reality is that the marketplace is already quickly pushing these changes. During the past three weeks, seven utilities have announced plans to close or convert almost 9,500 megawatts (MW) of coal-fired generation across […]
IEEFA
S&P Global Market Intelligence ($): Transitioning to cleaner fuel sources, Talen Energy Corp. will stop burning coal at three of its wholly owned facilities in Pennsylvania and Maryland by the end of 2025 and develop new renewable energy and battery storage resources, the Texas-based power generation company announced Nov. 10. As part of a deal […]
IEEFA
Associated Press: One of the largest coal-fired power plants in the western U.S. will close two of its four units by Saturday as the Montana facility edges toward an eventual total shutdown. Colstrip Units 1 and 2 – built in the 1970s when massive strip mines were being developed across Montana and Wyoming – will […]
IEEFA
Billings Gazette: NorthWestern Energy plans to increase its share in Colstrip Unit 4 by buying out another power plant owner who recently revealed the coal-fired unit needs $20 million in repairs. Montana’s largest monopoly utility said Tuesday that it will buy out Puget Sound Energy for $1. The price is identical to what NorthWestern pitched […]
IEEFA
Billings Gazette: Colstrip Power Plant will continue receiving coal from Rosebud Mine under a six-year contract signed by all but one of the plant’s owners this wee The contract, five years in the making, was signed with just weeks left on the coal arrangement between the mine and the power plant. The terms assure the […]
IEEFA
Billings Gazette: A 480-acre solar farm planned for Billings has won a significant legal battle over energy contract lengths. MTSUN solar farm will receive a 25-year contract to deliver power to NorthWestern Energy, District Judge James Manley ruled. The project, planned for the Alkali Creek area west of the Billings Heights, has been on hold […]
IEEFA Analysis: Financial Condition of Montana’s Colstrip 1 and 2 Worse Than Previously Known
Costs to Ratepayers Stand to Increase if Puget Sound Keeps Two Coal-Fired Plants AliveIn testimony today to the state Utilities and Transportation Commission in Olympia, Wash., we are presenting fresh analyses that shows how two coal-fired electricity generators in Montana co-owned by Puget Sound Energy are worse investments than previously known. Over the past several months, IEEFA has documented how Colstrip 1 and 2 have become an increasingly […]