The California Public Utilities Commission authorized cost recovery for Pacific Gas and Electric Company’s battery storage projects totaling about 567 megawatts to meet local capacity requirements, according to a resolution issued on Nov. 9. In January, the commission authorized the utility to hold competitive solicitations for storage or preferred resources to ensure local reliability in…
FirstEnergy Corp.’s subsidiaries reached a settlement that would allow the companies to flow back $900 million in savings from the federal tax cut law that lowered the corporate income tax rate to 21 percent from 35 percent. The company said that the tax savings would be credited through a new mechanism reconciled annually, and that…
Duke Energy Carolinas, a subsidiary of Duke Energy, issued $1 billion in green bonds to finance zero emission projects such as solar and energy storage in North and South Carolina, according to a Nov. 9 press release. The bonds, which mark the company’s first clean energy investment offering, have a weighted average coupon of 3.74…
The Federal Energy Regulatory Commission on Nov. 9 approved ISO New England Inc.’s proposal to revise the calculation of the economic life of a generator that seeks to retire or permanently leave the capacity market. The revision establishes that the economic life of such a resource will be the evaluation period that maximizes the net…