Electric Utilities

Duke Energy is seeking approval from North Carolina regulators for an increase in 'its prices' and to recover $800 million more from its customers due to a?higher cost of fuel and power during a severe winter cold snap. On Wednesday, the company said it was attempting to recover winter power and fuel costs of about $500 million for Duke Energy Carolinas and $309 million for Duke Energy Progress. If approved, this would increase monthly bills from June 1 by approximately $6.90 or $7.88. Duke Energy Carolinas supplies approximately 2.3 million customers throughout central and western North Carolina, while Duke Energy...

Wall Street uses some unconventional yardsticks in order to value 'Elon Musk’s SpaceX. One of SpaceX's largest institutional investors benchmarks the rocket and satellite firm not against aerospace competitors like Boeing or telecom titans like AT&T but against AI infrastructure players like GE Vernova, Vertiv and Palantir Technologies in a bid justify a $1.75 billion valuation ahead of the biggest IPO ever. A source familiar with SpaceX's thinking described the framework to me?for the very first time. It illustrates the unusual challenge of valuing a company without obvious public competitors - and how far Wall Street will go to justify...

Big Tech has reshaped the funding landscape of new nuclear technologies. It is seeking to boost electricity supply for power hungry AI data centers. Deals are being signed that offer both?funding for nuclear companies and a more clear path to make money. A number of?U.S. The U.S. is developing modular reactors which are smaller, more advanced and more scalable than conventional nuclear power plants. But no commercial electricity has been produced yet due to challenges like financing and unique risks. The sector is gaining momentum due to the need to provide enough energy to power the data centers in the...

U.S. Utility stocks have had their best start since 2019. This is due to a'retreat of investors from riskier assets during the Iran War and the strong demand for electricity from firms building artificial intelligence infrastructure. According to LSEG, the S&P 500 Utilities Index grew 7.5% during the first three months of the year. This is the strongest start since the first quarter in 2019. S&P 500 fell by 4.6% during the same quarter, its worst since 2022. This was due to inflation fears and a spike in energy prices. Since then, the index has recovered some ground and is...

Barbara Johnson, an organizer for Metropolitan Congregations United in North St. Louis' mostly Black neighborhoods, has been fighting coal pollutants for decades. The group is one of many activist groups that are campaigning for cleaner pollution in a city with some of the dirtiest air in the nation. Johnson believed that things would get better because the federal soot standard, adopted by Biden in 2024, was scheduled to take effect in 2027. This meant that plants had to reduce emissions or close. Ameren Labadie Energy Center, one of the region's largest polluters, would have been forced to reduce its soot...

Federal Judge ruled Thursday that Berkshire Hathaway must face a proposed antitrust lawsuit claiming that it conspired with real estate agents to increase commissions paid by home sellers, despite the fact that its HomeServices of America agency settled similar claims for $250,000,000 in 2024. U.S. district judge Stephen Bough rejected Berkshire Hathaway Energy’s argument that its dealings with HomeServices were a single enterprise for antitrust purposes. This meant it would not owe any additional damages to the home sellers after HomeServices settled. Bough said that HomeServices settlement also reflected the parties' intention that Berkshire entities with deeper pockets not be...

New Jersey lifted its de-facto moratorium on nuclear energy on Wednesday in the state. The state is grappling with some of the fastest-rising power bills in the United States. Electricity demand is outpacing the addition of new supply. Sherrill’s office released a statement that said the Governor signed legislation to remove a permit requirement that had effectively prohibited nuclear power development for decades. The law required a method for radioactive waste disposal that was unattainable. Instead, the state will issue permits for radioactive-waste storage that comply with federal nuclear regulations. Sherrill, who won the top government position in January after...

Amazon, Microsoft, and Alphabet’s Google all abandoned the construction of multi-billion dollar?data centres due to community opposition. Now the companies face shareholder pressure regarding the environmental impact of the?projects. Interviews with have revealed that more than a dozen shareholders are putting pressure on tech companies to provide data about their water consumption and conservation efforts, as they look to increase computing power. Andrea Ranger said that Trillium Asset Management of Boston, with assets of more than $4 billion, had filed a shareholder resolution in December asking Alphabet to clarify how it would meet its existing climate goals, given the increasing...

The governor of California, the largest state in the United States, announced on Thursday that federal regulators had approved an operating license extension for the last nuclear power plant still standing in the state. Under'state law, it can run until at least '2030. PG&E Diablo Canyon Nuclear Power Plant, located on California's Central Coast, was originally scheduled to close in?2025. However the plant which contributes 10% of 'the state's overall electricity has remained operational despite 'rising demand and rising power bills' California Governor Gavin Newsom stated that the renewed federal licenses will allow Diablo Canyon to continue providing a 24/7...

AFP reported Friday that two'sailboats' which went missing during a convoy transporting humanitarian aide from Mexico to Cuba landed safely in Cuba. The U.S. Coast Guard was cited by AFP. The convoy spokesperson said that he was unable to reach the U.S. Coast Guard for verification. Coast Guard can verify the information. James Schneider, spokesperson for the company, said: "It is not confirmed." The two boats were part of a larger grassroots volunteer effort to deliver food, medicine, baby formula, and other supplies?to an energy-strapped Cuba. Requests for comment from the U.S. Coast Guard or?Mexico’s Navy were not immediately responded...

Utility Entergy announced that Meta Platforms would 'pay the full cost of service for the planned 'hyperscale data center in north-east Louisiana under a revised agreement. Early Friday, shares of the utility rose 4.8%. The company stated that the agreement will deliver nearly two billion dollars in savings to customers?over a period of 20 years?, on top of the $650 millions announced last year. Meta revealed plans to invest $10 billion in a hyperscale center in Richland Parish in northeast Louisiana. The project was announced by the Facebook parent in late 2024. The rapid expansion of data centres is being...

The U.S. grid operators PJM and Constellation Energy have told Constellation Energy that the former 'Three Mile Island Nuclear Power?plant in Pennsylvania will likely not be able connect to the grid before 2031. This is four years later than originally planned. Constellation has been working on a plan to restart operations at the nuclear plant, which will be renamed as the "Crane Clean Energy Center" to provide electricity to Microsoft's data centers. Constellation's chief?external? affairs and growth officer, David Dardis said that the company would?be able to produce electricity by the earlier goal and is?talking with grid operator PJM to...

The government of Sweden announced a spring mini-budget that will slash fuel taxes, and increase electricity subsidies. This is to help ease the burden on households who are paying higher energy costs due to the war in Iran. The additional spending will be 7.7 billion crowns (825 million dollars) ahead of the September parliamentary elections. This is on top of an 80 billion crowns in new spending announced last September in the full year budget bill for 2026. "Sweden's on the right track." The Swedish economy remains strong despite war and uncertainty overseas. We continue to build safety barriers. Since...

The electricity ministry announced on Saturday that Egypt will raise electricity prices for residential and commercial consumers who use more electricity. This increase is due to a global energy crisis caused by the Gulf War. The government has taken a number of measures to reduce energy consumption and curb fiscal pressures as rising import costs put pressure on the finances of the most populous Arab country. The ministry stated that the increase would only affect households with higher consumption and commercial users. This was done to ensure the supply of electricity across residential, industrial and commercial sectors. The report said...

Taiwan won't raise electricity prices at this time despite the increase in energy prices caused by the Middle East war, according to the Economy Ministry. This will help to maintain price stability and industrial competitiveness. The government has been heavily subsidising energy to limit the impact on consumers of the rising energy prices caused by the Middle East war. The ministry released a statement saying that "in light of the 'risks' arising from the escalating conflict and the changes in international tariffs and to maintain industrial competitiveness and stabilize consumer prices, the committee decided to not adjust electricity rates at...

The?U.S. The?U.S. Navy will escort ships?through the Strait of?Hormuz, possibly with an international alliance, when it's militarily feasible, U.S. Treasury Sec. Scott Bessent said in an interview with Sky News on Thursday. Bessent stated that he believed the US Navy would escort vessels through as soon as it was militarily possible. He said that the plan to escort ships would be implemented as soon as "the U.S. had complete control over the skies" and the Iranians' ability to rebuild their missiles was completely degraded. U.S., Israeli and Iranian strikes on Iran have escalated regional tensions. The response from Tehran has...

The restart of nuclear reactors in Japan is expected to boost sales at Mitsubishi Heavy Industries (MHI)'s nuclear power unit next year. This will be a record 400 billion yen, or $2.54 billion. This is well ahead of previous forecasts. Hiroshi Nishio said in an interview that we originally thought it would reach 400 billion yen by 2030. MHI plans to increase its headcount by about 10% in the reactor division next year, as orders continue to grow. After 15 years of the nuclear crisis in Japan caused by the tsunami, 15?of the 33 reactors are now operational. The Japanese...

Two people who are familiar with the private talks say that Zorlu, a major Turkish holding company, has begun discussions with state banks about restructuring its debts. This could be the largest corporate loan restructuring in Turkey since the 2018 Lira Crisis. Last week, Zorlu Holding held CEO-level discussions with state banks and private lenders to start a restructuring plan. Sources, who requested anonymity because the talks are still ongoing, said that the company had put assets, including Zorlu AV, an iconic Istanbul shopping mall, up as collateral at state banks. One person said that Zorlu assets could be sold...

Kuwait has opened the bids for phase one of the Al Khairan water and power project. The project is a 1.8-gigawatt energy source that aims to alleviate Kuwait's power shortages. Kuwait Authority for Partnership Projects invited pre-qualified international consortiums to submit bids for Al Khairan Phase 1 independent water and power producer project. The project will also produce 125 millions imperial gallons per day of water. Kuwait, a member of OPEC and a major oil producer, is facing a severe electricity shortage because of rapid population growth, urbanization, rising temperatures, and maintenance delays in certain plants. The government has had...

According to BlackRock's Thursday investor day presentation, Temasek is part of a consortium backed Microsoft, BlackRock, and the tech investment company MGX, which aims to expand and invest in artificial intelligence infrastructure. Slides showed that the Singapore state investment firm has joined AI Infrastructure Partnership. This group also includes BlackRock Global Infrastructure Partners. AIP was formed in September, with the goal of investing more than $30 billion initially in AI-related project. It is one of world's biggest efforts to invest data centres and energy infrastructure needed to power AI apps such as ChatGPT. The aim is to mobilize up to...

Five trading and industry insiders have confirmed that QatarEnergy is in negotiations with Japanese companies for a long term deal to supply LNG through its North Field Expansion Project. Four sources confirmed that under the agreement, Qatar would supply gas to a group of Japanese importers. A volume of 3 million metric tonnes per year would be divided between the consortium. If the agreement is reached, it will help confirm Doha’s decades-old dominant position on the Japanese market as the competition from the United States, and neighbouring Gulf suppliers United Arab Emirates and Oman that offer more flexible contractual terms,...

India's Foreign Ministry announced on Saturday that India and the United Arab Emirates had agreed to build an energy hub in Sri Lanka. This comes as New Delhi's rivalry with China in the Indian Ocean Island nation grows. The three nations signed a pact to create the hub during Indian PM Narendra Modi’s visit to Sri Lanka. This was the first time a world leader visited Sri Lanka since Anura Kumara dissanayake became president in September. New Delhi and Colombo are working to strengthen their ties, as India's southern neighbor recovers from the severe financial crisis that was triggered in...

In an interview broadcast on Friday, Tehran's Foreign Minister told Al Jazeera TV that Iran would respond quickly and decisively in the event of an attack against its nuclear sites. This would result in a "war in all directions in the region." Abbas Araqchi, a translator for Abbas Araqchi, said that a joint military strike by Israel and the U.S. against Iranian nuclear facilities was "one of the worst historical mistakes" the U.S. can make. Iran's decision makers are increasingly concerned that U.S. president Donald Trump, in his second term, might empower Israeli Prime Minister Benjamin Netanyahu by allowing him...

Chinese electrical vehicle maker Nio is preparing to release its very first hybrid model in 2026 and will just offer it in overseas markets, consisting of the Middle East, North Africa and Europe, according to 2 individuals with knowledge of the matter. Nio to date has just produced pure electrical automobiles. It is constructing the hybrid car to attend to difficulties dealt with by Chinese companies offering EVs in foreign markets, which have put up trade barriers and been slower to set up charging facilities. Development of the extended variety hybrid, under the Firefly brand, stems from ideas by Nio's...