Xcel Energy Announces Sale of Recently Acquired 760-Megawatt Natural Gas Plant in Minnesota

FERC Approves Southwest Generation’s Acquisition of Mankato Energy Center

The Federal Energy Regulatory Commission on June 24 authorized a transaction allowing Denver-based Southwest Generation Operating Company LLC to acquire the 760-megawatt Mankato Energy Center, a natural gas power plant, from Xcel Energy Inc. Xcel Energy purchased the facility from Southern Power for $650 million in January through a non-regulated affiliate after Minnesota regulators rejected…...

IPL Wins Indiana Approval to Implement $1.2 Billion Grid Modernization Plan

Tri-State Seeks FERC Approval of Delta Montrose Withdrawal Deal

Tri-State Generation and Transmission Association Inc., a wholesale generation and transmission cooperative, on April 16 asked the Federal Energy Regulatory Commission to authorize the transfer of electric service contracts as part of a 2019 agreement under which Delta-Montrose will withdraw membership from Tri-State. The transaction allows Tri-State to assign its wholesale electric service contracts with…...

FERC Conditionally Approves $4.3 Billion Sale of El Paso Electric Company

FERC Conditionally Approves $4.3 Billion Sale of El Paso Electric Company

The Federal Energy Regulatory Commission on March 30 authorized the acquisition of El Paso Electric Company by an investment vehicle advised by J.P. Morgan Investment Management Inc., subject to approval of mitigation measures to address potential adverse effects on competition. This is the final regulatory approval required to consummate the transaction. The proposed sale has…...

FERC Establishes $10 Million Threshold for Merger Approvals

FERC Establishes $10 Million Threshold for Merger Approvals

The Federal Energy Regulatory Commission on Feb. 26 issued a final rule amending its regulations governing public utility mergers and consolidations. The rule requires transactions with a value above $10 million to be first authorized by the commission before consummation. For transactions valued below that threshold but above $1 million, utilities do not have to…

Avista and Hydro One Abandon $5.3 Billion Merger Following Regulator Rejection

Avista and Hydro One Abandon $5.3 Billion Merger Following Regulator Rejection

Hydro One Ltd. and Avista Corp. have decided to terminate plans to merge after regulators in Washington and Idaho refused to approve the deal, according to a Jan. 23 press release. After weighing the chances of getting those decisions reversed, both companies have decided to kill the plan, with Hydro One having to pay Avista a $103 million termination…

Oregon Regulator Suspends Action on $5.3 Billion Avista-Hydro One Merger

Oregon Regulator Suspends Action on $5.3 Billion Avista-Hydro One Merger

The Oregon Public Utilities Commission on Jan. 15 determined that there is no “justiciable controversy” to resolve in the proposed acquisition of Avista Corporation by Hydro One Limited, following denials in Washington and Idaho. The agency issued an order suspending the proceeding indefinitely until the companies notify of a reversal of the denials, providing an…

Avista, Hydro One's $5.3 Billion Merger Faces Setback as Washington Regulator Denies Rehearing

Avista, Hydro One’s $5.3 Billion Merger Faces Setback as Washington Regulator Denies Rehearing

The Washington Utilities and Transportation Commission declined a request to rehear the agency’s rejection of Canada-based Hydro One Limited’s proposed takeover of Washington-based Avista Corporation, according to a Jan. 8 press release. Last month, the agency rejected the merger over concerns of political interference from the Province of Ontario, Hydro One’s largest shareholder. Idaho regulators…

Ørsted to Expand U.S. Offshore Wind Portfolio With $510 Million Acquisition of Deepwater Wind

Ørsted to Expand U.S. Offshore Wind Portfolio With $510 Million Acquisition of Deepwater Wind

Denmark-based Ørsted A/S will buy Deepwater Wind LLC, which owns the first U.S. offshore wind farm, the 30-megawatt Block Island farm off the Rhode Island coast, according to the company’s Oct. 10 press release. Ørsted entered into an agreement with U.S.-based D.E. Shaw Group to buy a 100 percent stake in Deepwater Wind, resulting in…

GE Capital to Sell $1 Billion of Energy Investments to Apollo Global Management

GE Capital to Sell $1 Billion of Energy Investments to Apollo Global Management

GE Capital entered into an agreement to sell a $1 billion portfolio comprised primarily of equity investments in energy assets to funds managed by affiliates of Apollo Global Management LLC, according to the company’s Oct. 8 press release. The sale includes 20 investments in renewable energy, contracted gas-powered generation, and midstream energy infrastructure assets in…

Invenergy Renewables Wins FERC Approval to Sell 160-Megawatt Wind Farm in Michigan

Invenergy Renewables Wins FERC Approval to Sell 160-Megawatt Wind Farm in Michigan

The Federal Energy Regulatory Commission on Oct. 5 authorized Pine River Wind Energy LLC, a subsidiary of Invenergy Renewables LLC, to sell its 161-megawatt wind generation project to DTE Electric Company. The wind facility, which is under construction, will be interconnected to the transmission system controlled by the Midcontinent Independent System Operator Inc.’s market. DTE…

Dominion, SCANA File Settlement With North Carolina Regulators to Advance $14.6 Billion Merger

Dominion, SCANA File Settlement With North Carolina Regulators to Advance $14.6 Billion Merger

Dominion Energy Inc. and SCANA Corporation on Oct. 4 submitted an agreement to the North Carolina Utilities Commission detailing customer protection measures to advance their merger deal. Under the settlement, SCANA-owned Public Service Company of North Carolina Inc., a gas distribution company, would refund $3.75 million of its 2017 revenues, raise its charitable contributions in…

U.S. Enacts Law Establishing $10 Million Threshold For Merger Transactions to Seek FERC Approval

U.S. Enacts Law Establishing $10 Million Threshold For Merger Transactions to Seek FERC Approval

U.S. President Donald Trump signed legislation on Sept. 28 that requires mergers or consolidations of public utilities with a value above $10 million to be first approved by the Federal Energy Regulatory Commission. For transactions valued below that threshold but above $1 million, the law requires the utilities seeking merger to notify the commission within…