Two Republicans ask Pentagon to add Chinese Battery Maker CATL to restricted List
Two Republican senators on Wednesday requested that the U.S. Defense Department add Chinese battery manufacturer CATL to a list of restricted companies suspected to be working with Beijing's army. Experts say that companies added to this list are not eligible for U.S. government contracts, and they also face significant reputational risk. Senator Marco Rubio and Representative John Moolenaar of the House Select Committee on China asked Defense Secretary Lloyd Austin…
US utilities to benefit from data center demand in the second half
After striking several supply agreements during the second quarter of 2018, U.S. Electric utilities were bullish about the demand for data centers that are driving the artificial intelligence boom. This reinforced market expectations regarding sales growth throughout the year. Several top utilities, such as American Electric Power, NextEra Energy and others, have signed contracts during the recent quarter, while other companies have expressed interest in technology.
Ship Emissions: MIT Takes the Lead Toward Net Zero
The MIT Energy Initiative (MITEI) launched a new research consortium—the Future Energy Systems Center—to address the climate crisis and the role energy systems can play in solving it. Randall Field, Executive Director, discusses current research and the challenges ahead for the maritime sector.The reputation of the Massachusetts Institute of Technology (MIT) is such that it can take mammoth issues — such as driving the world to net zero — head-on…
Piedmont Awards EPC Gig to Matrix
Oklahoma-based Matrix Service Company has secured an engineering, procurement and construction (EPC) contract for the Piedmont Natural Gas LNG facility in North Carolina.The contract was awarded to Matrix’s subsidiary, Matrix Service Inc, to build its liquefied natural gas (LNG) facility in Robeson County, North Carolina.The facility will help Piedmont Natural Gas continue providing customers with a reliable supply of natural gas during peak usage days…
US Allows Williams More Time for NY-Penn. Natgas Pipeline
U.S. energy regulators gave Williams Cos Inc two more years until December 2020 to get the approvals needed to build its long-delayed Constitution natural gas pipeline from Pennsylvania to New York, according to a federal filing made available on Tuesday.Before it can start building the project, Williams still needs water quality certification. New York state denied the permit in 2016, saying the company failed to…
Duke Energy Profit Rises 13%
U.S. utility Duke Energy Corp reported a better-than-expected quarterly profit on Friday, helped by higher demand in its electric utilities and infrastructure business.Operating revenue from that unit, which accounts for the bulk of Duke's overall business, rose 2 percent to $6.26 billion in the third quarter.The Charlotte, North Carolina-based company has been expanding its business through investments in renewable…
U.S. Top Court Rejects Constitution Pipeline Over New York Permit
The U.S. Supreme Court on Monday dealt another setback to a proposed natural gas pipeline running from Pennsylvania to New York, rejecting Constitution Pipeline Co's bid to challenge New York state's refusal to issue a needed water permit for the project.The high court left in place an August 2017 ruling by the New York-based 2nd U.S. Circuit Court of Appeals in favor of the state.
Dominion to Complete Atlantic Coast Natgas Pipe by End 2019
The response from the company came after the U.S. Virginia lifts its tree clearing restrictions on migrating habitats on Aug. 30 for birds and Sept. One billion cubic feet of gas is enough to fuel about 5 million U.S. Atlantic Coast is a partnership between units of Virginia energy company Dominion, North Carolina energy company Duke Energy Corp and Georgia energy company Southern Co .
FERC Mulls Action on NY Denial for NatGas Pipeline
U.S. federal energy regulators gave themselves more time to decide whether to rehear their earlier order upholding New York's denial of a water permit for Williams Cos Inc's Constitution natural gas pipeline from Pennsylvania to New York. The Federal Energy Regulatory Commission (FERC) on Wednesday rejected Constitution's request to overturn New York's denial of a water quality certification in January. If FERC did not act…
Coal's Future Remains Uncertain
A year after Donald Trump was elected president on a promise to revive the ailing U.S. coal industry, the sector’s long-term prospects for growth and hiring remain as bleak as ever. A Reuters review of mining data shows an industry that has seen only modest gains in jobs and production this year - much of it from a temporary uptick in foreign demand for U.S. coal rather than presidential policy changes. U.S. utilities are shutting coal-fired power plants at a rapid pace and shifting to cheap natural gas…
Duke Energy's Q1 Results Beat Street
Duke Energy Corp, the biggest U.S. power company by generation capacity, reported a quarterly profit that edged past estimates, partly helped by its acquisition of Piedmont Natural Gas. Duke Energy announced its $4.9 billion purchase of Piedmont Natural Gas in 2015. The acquisition has helped the company expand its natural gas distribution business. Total operating expenses in the electric utilities and infrastructure segment fell 3.2 percent to $3.72 billion in the first quarter ended March 31…
Green Power Law Impacting U.S. Utilities
In the last four years, North Carolina has become the second largest solar market in the United States, behind only California. It has installed more solar energy than Texas, which has nearly three times the population; more than Arizona, which has twice as many sunny days; and more than New York, which has far more aggressive renewable energy targets. North Carolina’s solar boom is rooted in a federal law enacted four decades ago – one that has only recently had much impact.
California Wind Demand Energizes Transmission Firms
A firm controlled by Philip Anschutz, the billionaire entertainment and pro sports magnate, will soon build the largest wind farm in the United States to serve utilities in California, where officials have set ambitious green power goals. The $5 billion project, however, will be constructed 700 miles away in Wyoming, a state better known for coal mines and oil fields. The vast distance between the two states provides…
Duke Energy to shed Brazilian Unit
Duke Energy Corp said it agreed to sell its Brazilian unit to clean energy company China Three Gorges Corp for about $1.2 billion, including debt, as it focuses on regulated power markets in the United States. The biggest U.S. power company by generation capacity said it was also negotiating the sale of its remaining assets in Central and South America. Duke Energy owns 2,090 megawatts (MW) of power generation facilities in Brazil.
Chinese Power Conglomerates dominate Brazil Industry
Chinese power conglomerates are gradually becoming the dominant force in Brazil's electricity industry, where high debt, a harsh recession and less stringent takeover barriers than in other major markets have stoked a wave of acquisitions. Since the start of 2015, Chinese companies have been the protagonists in three of the six largest announced electricity mergers in Brazil, according to Thomson Reuters deals intelligence data.
Duke Energy Mulls International Energy Unit Sale
Duke Energy Corp, the largest U.S. power company by generation capacity, said it was looking to sell a whole or part of its international energy unit. Duke said it had not yet received any offer for the unit, which has about 4,400 megawatts of power producing capacity. Reporting by Anet Josline Pinto
Power Producer Dominion to buy Questar for $4.4 bln
Power producer Dominion Resources Inc said it would buy natural gas distributor Questar Corp for about $4.4 billion in cash to expand its natural gas operations. Dominion's $25-per-share offer represents a premium of nearly 23 percent to Questar's Friday close. Weakening power demand due to increased energy efficiency has spurred a spate of deals between utilities and natural gas distributors, which enjoy relatively stable pricing thanks to a glut of supply from shale fields. Duke Energy Corp, the largest U.S.
Duke Energy Trims 2015 Adjusted Profit Forecast
Duke Energy Corp, the largest U.S. power company by generation capacity, cut the top end of its 2015 adjusted earnings forecast, citing a drought and a slowing economy in Brazil and a strong dollar. The international business, which spans Brazil, Argentina and Chile, had earned only half of what the company had expected through September, Duke said on Thursday. Adjusted income from international business, which accounts for about 12 percent of revenue…
Duke Energy's Quarterly Profit Falls 11 pct
Duke Energy Corp's quarterly profit fell 11 percent, hurt by higher expenses in its U.S. regulated power business and weakness in its business outside North America. Net income attributable to Duke fell to $543 million, or 78 cents per share, in the second quarter ended June 30 from $609 million, or 86 cents per share, a year earlier. Total operating revenue fell 2 percent to $5.59 billion. Reporting by Shubhankar Chakravorty
Duke Energy to Buy Piedmont
Duke to pay $4.9 bln, assume $1.8 bln debt; offer worth $60/Piedmont share, a 42 pct premium. Duke Energy Corp, the largest U.S. power company by generation capacity, said on Monday it would buy Piedmont Natural Gas Co for $4.9 billion in cash, helping expand its natural gas distribution business. Duke offered $60 in cash for each Piedmont share, representing a premium of about 42 percent premium to the stock's Friday close.
