Electric Utilities

The U.S. Energy regulators denied this week a request for reconsideration of a decision which prevented an Amazon datacenter, directly connected to a Talen Energy Nuclear Power Plant in Pennsylvania, to increase its power usage, according to government filings. Big Tech's race for massive amounts of energy to fuel their AI data centers led to new arrangements with power companies. These included so-called "co-located" deals where giant computer warehouses were powered directly from the power source. These arrangements promise to accelerate the artificial intelligence expansion of the technology industry by eliminating the wait time to connect to a broader grid....

Rasmus Errboe, the CEO of Orsted in Denmark, told the Financial Times that President Donald Trump's tariffs would have "a meaningful impact" on its U.S. projects. Errboe said in the newspaper that the new tariffs would affect Orsted's large wind projects, Sunrise Wind and Revolution Wind, located in the U.S. Orsted published a piece in the FT that called on European capitals for a consistent support of the offshore wind industry every year to help meet targets and reverse costs. Orsted didn't immediately respond to our request for comment. Trump announced earlier Wednesday that he would lower temporarily the heavy...

Constellation Energy, the major U.S. energy provider, defended to regulators its planned acquisition Calpine on Tuesday after consumer groups complained that the deal could give the combined company too much power in the market, according to a regulatory filing. Constellation announced in January that it had agreed to purchase Calpine for $16.4 billion. This was one of the largest acquisitions ever made by the U.S. energy industry. Later that month, the companies asked the Federal Energy Regulatory Commission for approval of the transaction. This would make Constellation, the largest independent power company in the United States. Since then, consumer groups...

Four of Europe's largest electric vehicle charging companies announced on Wednesday that they are teaming up to build the largest public charging networks on the continent. Spark, a new alliance between Atlante in Italy, Ionity in Germany, Fastned from the Netherlands, and Electra of France, will be formed to share their networks. There will be 11,000 charging points, and 1,700 charging stations in 25 European countries. According to the alliance, that is more than its main rival Tesla. Quentin Wilson, founder of EV lobby FairCharge and a British journalist who writes about automobiles, said that the U.S. firm still has...

Dominion Energy's CEO Robert Blue lost out on more than $4 Million in cash when the utility failed to achieve its performance targets for shareholder return and operating profits during 2022-2024. Blue disclosed in a filing with the U.S. Securities and Exchange Commission on Friday that it had received $438.240, or just 9%, of the target payout. The company said the target payout was nearly $5 million. The company didn't respond to a request for comment. Dominion's shareholder return was the second lowest of all peers during this 3-year period. This resulted in no payout for that goal. The 50%...

Two sources familiar with the matter said that Engie-backed National Central Cooling Co (also known as Tabreed) is considering a bid to buy Multiply Group’s district cooling business, which could be worth up to $1 billion. The two sources declined to name themselves as the matter was not public. Tabreed declined to comment. Multiply has not responded to our request for comment. IHC controls Abu Dhabi's investment holding company Multiply. Its chairman, Sheikh Tahnoon Bin Zayed Al Nahyan is the UAE's National Security Advisor and brother of its president, who also controls an expansive business empire. As an environmentally-friendly and...

Iranians are urged to reduce water consumption as dam levels drop Farmers in the United States are suffering from a nationwide water shortage The shortfall is similar to an overdrawn account By Sanam Mahoozi The water levels in the dams surrounding the capital are at an all-time low. Water rationing is expected this summer, as the country wilts from a severe drought. As water levels decline, lakes are disappearing and farmers are struggling. In cities, huge sinkholes appear. The kitchen taps often run dry, and students are concerned about the washing. Last week, the managing director of Tehran’s Water and...

The U.S. Department of Energy announced on Monday that it had disbursed $57 Million of a loan guarantee of up to $1.52 Billion for Holtec’s Palisades Nuclear Plant in Michigan. Holtec hopes this will be the United States' first commercial reactor to resume operations after ceasing to operate. The conditional guarantee of loan was part of a campaign by former President Joe Biden's administration to support nuclear power, which produces virtually emissions-free electricity, to curb climate changes and to help meet the rising demand for electricity from artificial intelligence (AI), electric vehicles, and digital currencies. After closing the loan financing...

The U.S. Department of Energy announced on Monday that it had disbursed 57 million dollars of a loan guarantee of up to $1.52billion for Holtec’s Palisades Nuclear Plant in Michigan. Holtec hopes this will be the U.S.'s first commercial reactor to resume operations after ceasing to operate. The loan guarantee was part a larger effort by former President Joe Biden's administration to support nuclear power, which produces virtually emissions-free electricity, and to curb climate changes and to satisfy the rising demand for electricity from artificial intelligence (AI), electric vehicles, and digital currencies. The Loan Programs Office of the Department closed...

Berkshire Hathaway announced on Friday that longtime director Ronald Olson would be leaving the board due to a new policy requiring all directors except Warren Buffett to step down when they reach 80. In its proxy statement for the company's annual meeting on May 3, in Omaha, Nebraska Berkshire said that its board had unanimously recommended rejecting seven shareholder proposals. This included three regarding its subsidiaries' anti-discrimination and diversity efforts. Berkshire said Buffett will also receive $405,111 by 2024. This includes his $100,000 salary plus personal security and home protection. Vice Chairman Greg Abel and vice chairman Ajit Jain, who...

According to sources familiar with the situation, the Trump administration plans to reverse pollution rules that reduce soot emission from U.S. power plants. This is a move to keep some of America's dirtiest coal-fired plants operating. Because they are small enough to enter the bloodstream, soot particles have a negative impact on health. The plan is in line with Trump's executive orders of January 20, which directed the Environmental Protection Agency (EPA) to review measures that affect energy reliability. They also declared a National Energy Emergency to increase government powers for boosting fossil fuels and electricity production. The White House...

On Tuesday, the Premier of Ontario who imposed a 25 percent surcharge on exports of electricity to the United States said that he wouldn't back down until U.S. president Donald Trump removed his tariffs against Canadian imports. Doug Ford reiterated his threat from Monday and said that he wouldn't hesitate to reduce the supply if necessary. Ontario exports electricity to 1.5 million homes across New York, Minnesota, and Michigan. We will not retreat. We will not back down. Ford apologized to the American public for President Trump's unprovoked attacks on our country. This was shortly after Trump announced he would...

O fundo de investimento Saint German, controlado pelo investidor Nelson Tanure, solicitou que o GPA convoque uma assembleia geral extraordinaria para destituir o atual conselho de administracao e eleger novos membros, incluindo executivos indicados pelo proprio empresario. O plano apresentado por Tanure preve a eleicao de um novo conselho com nove membros, dos quais tres indicados por Tanure, e mandato unificado de dois anos, de acordo com fato relevante divulgado neste domingo. Em 2024, Tanure adquiriu cerca de 9% das acoes do GPA no mercado e considerava comprar papeis adicionais do grupo frances Casino, que no passado controlou a rede...

Eletronuclear's CEO Raul Lcurgo said on Friday that the state-run Brazilian nuclear company would still be able complete its Angra 3 facility even after Eletrobras sold its minority stake. Eletrobras, the former state-run company, is selling its 35% stake in Eletronuclear to the state-owned ENBPar in the privatization process that will take place in 2022. Eletrobras announced on Friday that it will no longer invest in Angra 3 a nuclear plant in Rio de Janeiro State. The project has been in development for decades and is estimated to cost $4 billion. Lycurgo said that the company could still maintain its...

The company confirmed that the Brazilian government had nominated the former Mines and Energy Ministers Silas Rondeau and Nelson Hubner as well as Mauricio tolmasquim as candidates for the board of Eletrobras. The announcement of the nominations came after Eletrobras and Brazil's Government signed an official agreement to settle a legal dispute over voting rights in the company. Shareholders have yet to approve the deal. Eletrobras is nearing the end of its turnaround after privatization in 2022. The board election on April 29 will be the first major restructure since that time. The Brazilian government will be able to nominate...

According to a proposal made on Friday, the billionaire chairman of Brazil's BTG Pactual investment bank, Andre Esteves is expected to join Eneva's board. Eneva's seven-member board of directors would gain two new members under the proposal. Two other members would be resigning. Rodrigo Santos Coutinho Alves was also nominated, as he is a partner of BTG Pactual. Eneva, Eneva’s largest shareholder, has strengthened its bet with BTG by adding two new members. Eneva, one of Brazil's largest gas-fired generators, has increasingly competed for space with other major generators such as Petrobras or Ambar from the J&F Group. The parties...

Sources familiar with the matter confirmed that the Brazilian government had nominated the former Mines and Energy Ministers Silas Rondeau and Nelson Hubner as well as Mauricio tolmasquim as candidates for the board of Eletrobras. According to one source, former Finance Minister Guido Mantega has been nominated as a member of Eletrobras' fiscal council. Eletrobras didn't immediately respond to an inquiry for comment. Eletrobras announced Wednesday that it and Brazil's Government had reached an agreement on a legal dispute regarding government voting power In the firm. The government will nominate three board members of Eletrobras under the new agreement. However,...

According to a filing with the Securities Commission, Engie Brasil announced on Friday that it had signed a deal to purchase two hydropower plants in northern Brazil. The price was estimated at 3 billion reais (532 million dollars). Engie Brasil has acquired the entities that hold concessions for the Cachoeira Caldeirao Plant, located in Amapa State, and the Santo Antonio do Jari Plant, which is on the border between Amapa and Para States. The concessions expire in 2048 and respectively 2045. Together, the assets being sold by EDP Energias do Brasil, China Three Gorges Energia and others have 612 Megawatts...

The chief executive of Colombian conglomerate ISA said that the company expects to invest between 28.4 billion dollars and 33 billion dollars through 2040. According to CEO Jorge Carrillo, the majority of the projected investment will go towards power transmission projects. Around a quarter is destined for new electricity projects. Carrillo said that ISA would also divest its infrastructure in telecommunications, services and other areas. "In the transmission industry, we will stay where we are, and expand into other countries in Latin America. We'll also look at new solutions, such as energy storage. Carrillo said that besides being in the...

Brazil's Government and local power giant Eletrobras reached a preliminary agreement in a mediation procedure that could allow for the state to nominate three members of company's board. Both parties have been trying to come to an agreement with Eletrobras since 2023, when the government was pushing to gain a greater influence over the company. Eletrobras had been privatized in 2022. Eletrobras said in a filing of securities on Friday that the parties will now work on a term for conciliation to be approved and validated by Brazil’s Supreme Court. Brazil owns over 40% of Eletrobras common shares but, under...

Portugal's largest utility EDP maintained its EBITDA guidance and net profit forecast for 2026, despite reducing its investment plan and reporting lower profits for the last year. EDP announced earlier this week that it would slow down the expansion of its capacity, "to maximise returns", and install 3.5 gigawatts in the next two year compared to the 4 gigawatts in 2024. This means that an average investment of 4.4 million euros ($4.6 million) per year will be made over the next two-years, compared to the 5.4 billion euro invested in 2024. EDP announced in May that it would invest an...

EDP, Portugal's largest utility company, announced on Thursday a 100-million-euro share buyback program and an increase in dividends despite a 16 percent drop in net consolidated profits for 2024. The company announced that it would increase its dividend by 3% to 0.20 euro per share in 2024. This represents a payout ratio of 60%. EDP's net profit was 801 million euro ($839.69 millions), far below the analysts' average forecast of 1,23 billion euro in an LSEG survey. This is due to a large loss in EDP’s renewables unit. EDP ???? ?Renovaveis ? ??????????????????????? ?, the fourth largest wind energy producer...

Brazil resumed imports of electricity from Venezuela to supply the northern state of Roraima after six years. The measure was taken in an effort to reduce costs and diversify energy supplies for consumers. The operation, approved by the Brazilian energy regulator Aneel on Tuesday, is intended to provide an alternative source of energy for Roraima. This is Brazil's sole state that doesn't receive its energy from the grid. Since the end of imports from Venezuela in 2019, Roraima consumers have been relying exclusively on local thermoelectric production, with fuel subsidised by a fund that is added to their electricity bills....

Two sources said that the Brazilian government is split over the completion of its third nuclear plant, after 40 years in construction. The country's economic team wants the project abandoned. The National Energy Policy Council, which has been delaying its decision about the Angra 3 plant since late last year, is the final authority on this matter. The Minister of Mines and Energy, Alexandre Silveira said that the matter is expected to come up at the next CNPE Meeting, which has not yet been scheduled. The construction of the plant in Angra dos Reis on the coast began in 1980...