American Electric Power Company Inc. announced a $33 billion capital investment plan from 2019 through 2023, with 75 percent focused on its transmission and distribution operations, according to a Nov. 11 news release. The plan includes $2.7 billion for new renewable generation, including about $2.2 billion for competitive, contracted projects. The company said the transition…
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…
The Virginia State Corporation Commission on Nov. 2 issued an order finding that Dominion Energy Inc.’s proposal to build a 12-megawatt offshore wind project off the coast of Virginia Beach is prudent. The project, expected to come online in December 2020, has an estimated cost of about $300 million, excluding financing costs. The commission noted…
The Illinois Commerce Commission authorized $71.6 million in additional revenue for Ameren Illinois Company’s electric service, resulting in a $4 increase in monthly residential bills, according to a Nov. 1 press release. The commission approved $31.7 million rate increase for the company’s gas delivery service, raising monthly bills by about $3.50. The gas rates take effect…
The Electric Reliability Council of Texas forecasts a peak demand of 61,780 megawatts for the upcoming winter from December through February 2019, according to a Nov. 1 press release. The grid operator expects nearly 80,000 megawatts of resource capacity to be available for peak demand this winter. Since the preliminary winter assessment released in September,…
The Bureau of Land Management authorized EDF Renewable Energy Inc.’s Palen Solar Project, a 500-megawatt solar photovoltaic facility that would span 3,478 acres of federal lands in Riverside County, California. The project, expected to come online in 2020, would be located in the bureau’s Solar Energy Zone and Development Focus Area that has been designated…
PJM Interconnection LLC released its fuel security analysis on Nov. 1 finding that its system is reliable and can endure prolonged periods of highly stressed conditions. The study analyzed over 300 scenarios that could occur from 2023 considering generation retirements, customer demand, fuel delivery, and fuel disruptions. The results underscored that in a sustained cold…
Retail electricity prices for customers enrolled with competitive suppliers in the New England region are less volatile compared to wholesale power prices, although temporary price hikes occur when wholesale prices experience the largest increases, according to an Oct. 31 report from the U.S. Energy Information Administration. All the New England states except Vermont have deregulated…
The Indiana Utility Regulatory Commission approved a settlement increasing Indianapolis Power & Light’s annual revenues by about $43.9 million, resulting in a $5.18 hike in monthly residential bills, according the agency’s Oct. 31 press release. In February, the utility lowered its revenue request to $96.7 million from its initial request of $124.5 to account for…
Northern Indiana Public Service Company LLC, a subsidiary of NiSource Inc., on Oct. 31 filed its 2018 integrated resource plan with the Indiana Utility Regulatory Authority, detailing a strategy to retire its coal-fired generation portfolio over the next decade and transition to more cost-efficiency renewable energy. The resource plan charts a path to meet customer…
