Electric Utilities

Johnson & Johnson persuaded Delaware's highest Court to dismiss part of a $1 billion damages award due to its breach of a 2019 agreement to buy Auris Health - a manufacturer of surgical robots. In a?unanimous ruling on Monday, Delaware’s Supreme Court set aside a part of the September 20,24 award made to former Auris investors who claimed that Johnson & Johnson had failed to support Auris’ iPlatform Technology and was too slow in gaining regulatory approvals for bringing?devices onto the market. After recalculation, damages and interest could be reduced by several hundred million dollars. Fortis Advisors, the company representing...

Pacific Gas and Electric's parent company has reached a settlement of $100 million with shareholders who claimed that the utility operator misled them regarding its wildfire prevention?and safety protocol before wildfires occurred in northern California during 2017 and 2018. The preliminary settlement between PG&E and the U.S. District Court of San Jose in California was filed on Saturday. It requires a judge's approval. Shareholders, led by the Public Employees Retirement Association of New Mexico said PG&E concealed their defective wildfire safety techniques. This included electrical equipment and vegetation management that was blamed for the start or exacerbation of the 2017...

Pacific Gas and Electric's parent company reached a settlement of $100 million with?shareholders that accused the utility operator?of misleading them about their wildfire prevention?and?safety protocol?before wildfires occurred in northern California during 2017 and 2018. The preliminary settlement between PG&E and the U.S. District Court of San?Jose in California was filed Saturday. It requires a judge to approve it. Shareholders, led by the 'Public Employees Retirement Association of New Mexico', said PG&E hid its defective wildfire-safety practices. This included electrical equipment and vegetation control that was blamed for causing or exacerbating 2017 North Bay fires and the 2018?Camp Fire. The North...

The German government reached a final deal on acquiring a stake in the German division of Dutch grid operator TenneT Politico, a news outlet, reported that the'shift to renewable energy' was part of a larger?shift. Politico cited government budget documents to claim that funding of 7.6 billion euro ($8.9billion) had been allocated for the deal. The total amount includes 5,76 billion euros for the purchase of TenneT shares as well as a capital increase that will fund grid upgrades. The remainder is to be given to the German state development Bank KfW which is managing this transaction in the form...

The S&P 500 ?rallied to a record high close on Friday, lifted by Broadcom and other chipmakers, while a ?weaker-than-expected jobs report did little to alter expectations of interest rate cuts from ?the ?Federal Reserve this year. Wall Street's main three indexes gained in the first week of 2026 trading. This was fueled by gains in industrials, materials and other sectors, which have lagged behind technology stocks in recent times. The Labor Department reported that the U.S. labor market did not rapidly degrade in December. However, the decline in unemployment to 4.4% was more than expected. The PHLX semiconductors index...

Meta Platforms announced on Friday that it had signed 20-year contracts to buy power from Vistra nuclear reactors in the heartland of America and develop projects with two companies looking to build small modular units. Vistra shares rose 8%, while Oklo's surged by nearly 20% in premarket trading. Meta and other Big Tech firms want to ensure long-term power supplies, as artificial intelligence (AI) and data centres increase U.S. electricity demand for the first two decades. In a 'blog, the company announced that it would purchase electricity from Vistra’s Perry and Davis-Besse plant in Ohio as well as Beaver Valley...

Meta Platforms announced on Friday that it had signed 20-year contracts to purchase power from three Vistra nuclear reactors in the heartland of the U.S. and to develop projects with two companies wishing to build small modular units. Meta and other Big Tech firms want to ensure long-term power supplies, as artificial intelligence (AI) and data centres increase U.S. electricity demand for the first two decades. In a blog, the company announced that it would purchase power from Vistra’s Perry and Davis-Besse plant in Ohio?and Beaver Valley Plant in Pennsylvania. Meta said that the deal would help finance expansion of...

Sinolam LNG Terminal S.A., and Sinolam Smarter Energy LNG Power Co. filed a $4 Billion lawsuit in Virginia on Wednesday against U.S. utility AES Corp. Sinolam filed a complaint in Arlington County Circuit Court accusing AES and its partner of anti-competitive behavior aimed at derailing Sinolam’s planned LNG terminal and power-generating project using gas in Colon. The lawsuit?alleges that "coercive tactic," misuse of confidential data and improper influence on regulators?to delay permits or revoke licenses?have been used. Sinolam announced that it had obtained permits, power purchase contracts and long-term customer commitments. It said the projects were part of Panama's ambitions,...

Wall Street brokerage J.P. Morgan anticipates that European index provider STOXX will upgrade Greece from an 'emerging' market to a 'developed' market later this year. This would allow Greek stocks to be eligible for inclusion in Europe's leading equity indexes. STOXX is expected to complete its classification of countries in the first quarter, and announce an upgrade in April. J.P. Morgan, Athens shares will be eligible to join STOXX 600 & Euro STOXX Indexes. STOXX did not respond immediately to a comment request. J.P. Morgan expects that the passive?inflow of $962 million into Greek equity will come from banks such...

Hawaiian Electric Industries has reached a settlement of $47.75million with shareholders who accused it of misleading them regarding its wildfire prevention and safety protocols before the 2023 Hawaii wildfires. A preliminary settlement has been filed with the U.S. District Court of San Francisco on Monday, which requires approval by a judge. Shareholders claimed that Hawaiian Electric had falsely claimed to be taking the appropriate actions?to prevent the possibility of its utility poles causing a wildfire, particularly in western Maui. The spread of dry haystacks?created "highly flammable stacks" all around an populated area. Court documents show that Hawaiian Electric denied wrongdoing...

The post-Buffett Berkshire Hathaway era began Friday quietly, with shares falling slightly after the "Oracle of Omaha", Greg Abel, was appointed to the top position following 60 years at the helm. The most famous conglomerate in the world must now protect its reputation without its chief architect. He remade modern investing and transformed a struggling textile company into a $1 trillion investment giant. Brian Jacobsen is the chief economist at Annex Wealth Management. He said, "It is hard to imagine there will still be a cult following." Warren Buffett is a well-known steward of money for his long-term approach and...

The post-Buffett Berkshire Hathaway era began Friday quietly, with shares falling slightly after the "Oracle of Omaha", Greg Abel, was appointed to the top position following six decades as the head of the company. The world's largest conglomerate must now protect its record, without its chief architect who remade modern investing and transformed it from a struggling business to an investment giant valued at more than $1 trillion. Warren Buffett is a trusted capital steward because of his long-term approach and focus on purchasing high-quality companies at reasonable prices. Greg Abel, Buffett's trusted lieutenant, takes over the company at a?sensitive...

Experts say that the Japanese plan to grant authorities the authority to order foreign investors retroactively to divest acquisitions aims to protect major companies and supply chains. However, it is unlikely to curb increased M&A activity, they add. Japan proposed Wednesday amendments to its foreign investment screening laws that would give authorities the option to force foreigners into selling investments they deem to be a risk to national or economic security. The proposals are part of a push by the Japanese government to reduce risks associated with a?an?inflow?of foreign money into Japan's economy and to maintain control over its key...

The European Commission announced on Monday that it had opened an investigation to determine whether the public support that Czech Republic plans to provide for?the construction and operation of two new nucleonic units is in compliance with EU State Aid rules. After EDF France's appeals were rejected, the Czech Republic's Competition Authority in April cleared the path for the signing of contracts with South Korea for two units in Dukovany worth at least $400 billion Czech crowns ($19.30billion) after they?rejected their appeals. In a press release, the Commission stated that it had "doubts" about the 'appropriateness' and 'proportionality? of the...

An official from the China National Nuclear Corporation's (CNNC) research arm said that China would begin commercial operation of the Linglong One small modular reactor in the first half of 2026. The APC100 reactor, also known as APC100 was the first SMR approved by the International Atomic Energy Agency (IAEA) in 2016. The first project to use the Linglong One technology, CNNC's project on China's island of Hainan began in 2021. Wang Zhenqing of the China Institute for 'Nuclear Industrial Strategy', spoke at an international energy conference in Beijing. SMRs can be built faster and smaller than traditional reactors, and...

Swakop Uranium is a subsidiary owned by the China General Nuclear Power Group. It has entered into a joint venture agreement with Namibia’s water utility, NamWater to build Namibia's second desalination plant near Swakopmund. The plant is only the second one of its kind in Africa. It will help to bolster water supply to the country's biggest uranium mining operation, Husab. In a joint statement released on Tuesday, partners of the joint venture said that negotiations had ended successfully. The project implementation phase will now begin. Swakop Uranium holds 70% of the stake, and NamWater has the rest. According to...

U.S. utilities are racing to sign supply deals with data-center operators as the artificial-intelligence boom sparks a surge in power demand, setting the stage for higher profits in the coming quarters. Goldman Sachs reported in May that data centers will account for 8% (compared to 3%) of the electricity generated in the U.S. in 2030. Here are some of the deals that utilities have announced for 2024 and 2025. NextEra Energy has expanded its partnership to Alphabet’s Google Cloud in order to increase data center capacity across the U.S. by multiple gigawatts, and improve energy infrastructure. Meta Platforms has signed...

Hokkaido Governor Naomichi Suzuki stated on Friday that the restart of Hokkaido Electric Power Co.'s Tomari Nuclear Power Plant in northern Japan was considered a real option at this time. Suzuki said he would take a final decision about the restart of the project after completing on-site inspections, and collecting feedback from the surrounding communities. The Nuclear Regulation Authority of Japan approved a safety assessment for Tomari's 912-megawatt reactor No. The final step in the 12-year-long process of restarting Tomari's reactor No. Suzuki stated that, given the regulatory approvals, the new emergency response plan of the government, and the expectation...

On Friday, a Japanese regional governor will be expected to announce whether he is willing to allow a partial restart at the Kashiwazaki Kariwa nuclear plant, which is the largest in the world, as Japan attempts to revitalize its nuclear sector while reducing fossil fuel imports. The approval of Niigata Prefecture governor Hideyo Haazumi will remove the final major obstacle for Tokyo Electric Power Co. (TEPCO) in its plans to restart Kashiwazaki and Kariwa's two biggest reactors. TEPCO would be able to restart its power plant for the first time since March 2011, when the tsunami destroyed Fukushima Daiichi. This...

On Wednesday, a fire destroyed more than 170 structures and claimed the life of one person in an area along the southern coast of Japan. Military and firefighting helicoptors were scrambling in a bid to put out this country's biggest urban fire in nearly half a century. Aerial footage broadcast by television stations showed the destruction of houses and thick smoke plumes rising from Saganoseki, a hilly district in Oita that overlooks a harbour famous for its Seki-brand premium mackerel. Local media reported that the flames also spread to nearby forested hills and an uninhabited island, more than one kilometer...

Axia Energia, a Brazilian power company, announced a loss for the third quarter of the year after accounting non-cash expenses incurred from the sale of its Eletronuclear shares. It also announced the payment dividends to its shareholders. Why it's important The results show Axia's ongoing reorganization as it leaves the nuclear sector and streamlines its operations while maintaining shareholder returns, despite the accounting losses. The company's dividend decision was based on a strong performance and stable power prices. KEY NUMBERS Axia's Board approved 4.3 billion Reais ($795.72 Million) in dividends, despite Axia reporting a loss of 5.45 Billion Reais for...

Kansai, Japan's largest nuclear power company, revised its profit forecasts for the fiscal year that ends in March next year by 65 billion yen, to 360 billion ($2.4 billion), due to an increase in electricity demand. Kansai, a company in which activist investor Elliott from the United States has recently become a major minority shareholder, raised its forecast for the full year dividend to 75 yen, up from 60 yen. The nuclear capacity factor (which measures how much of total nuclear power capacity available is actually used) was left unchanged at around 80% from the previous forecast. Kansai's net profit...

A factsheet released by the U.S. and Japan on Tuesday showed that around 20 companies have expressed an interest in projects which could contribute to Tokyo’s commitment to invest $500 billion in the United States under a trade deal. In a July deal, U.S. president Donald Trump agreed to lower tariffs on Japanese auto imports and other goods. The agreement also included a Japanese commitment to invest $550 billion in U.S. project. According to a list of possible projects, SoftBank Group, Mitsubishi Electric, and Hitachi are among the companies interested in participating. The list includes energy, AI infrastructure, and critical...

The new Japanese government under Prime Minister Sanae Takaichi is looking at creating its own version the U.S. Committee that reviews foreign acquisitions for national security. Takaichi is a conservative hardliner who wants to strengthen such screenings. The ruling coalition aims to pass the necessary legislation for a such panel during next year's regular session of parliament. A source familiar with current thinking believes that the panel will include members from ministries and agencies engaged in screening investments to improve their coordination. Takaichi, who was running for the leadership of the ruling party last month, said that she "knew with...