Electric Utilities

Alliant Energy increased its capital expenditure plan for the next four years on Thursday as it bets that demand for electricity will continue to rise. Utilities must contend with a surge in demand for power from data centers that are dedicated to artificial-intelligence operations and cryptocurrency. U.S. utilities have added billions to their investment plans in order to fund upgrades to critical infrastructure such as power lines and electrical grids. Alliant has increased its contracted data center energy demand by 3 gigawatts. It also expects to see a 50% increase in peak energy consumption by 2030. Lisa Barton, CEO, said:...

Consolidated Edison beat Wall Street expectations for the third quarter profit. This was helped by a robust demand for their electric and gas services. Its shares rose nearly 3% during extended trading. The U.S. Energy Information Administration predicts that power consumption will reach record levels in 2025 and beyond, due to demand from data centres dedicated to AI, cryptocurrency and homes and businesses using more electricity, and less fossil fuels for heating and transportation. The S&P Index tracking utilities increased 6.8% during the quarter ending September 30. Net income for the New York utility rose by 17%, to $688 millions,...

Canada's main index of stocks remained mostly unchanged on Thursday as higher commodity prices countered broader market caution, and disappointing earnings following the benchmark's best session in three week. At 9:57 am. After closing Wednesday's trading day 1.1% higher, the S&P/TSX Composite index in Toronto was down by 0.1% to 30,075.80. This is its largest single-day increase since October 14. The rally was backed by positive economic data from the United States, where services sector activity rose to an eight-month peak in October and private pay exceeded expectations. The data eased investor concerns following top Wall Street banks' warnings of...

NRG Energy forecast a core profit of $1.2 billion for the full year 2026, compared to its revised range for 2025. The company's shares rose 1% before the market opened on Thursday due to the surge in power demand. NRG will benefit from the surge in electricity demand in Texas. This is due in part to a boom of data centers that require large, stable power supplies in order to support artificial-intelligence and cloud computing operations. Utility expects a core profit of between $3.93 and $4.18 in 2026, as opposed to its updated guidance for 2025 of $3.88 to $4.03...

Vistra Corp forecast adjusted core profit for 2026 higher than the outlook it gave this year. This reflects its confidence in its expanding power generation portfolio, and its strong demand throughout U.S. market. As it expands its gas-fired energy and clean energy capacities, the Texas-based electricity company expects an adjusted EBITDA of between $6,8 billion and $7.6billion in 2026, up from a forecast range for 2025 of $5.7 to $5.9billion. Vistra's Board also approved an extra $1 billion worth of share buybacks. According to the U.S. Energy Information Administration, a surge in AI- and cryptocurrency-based data centers combined with the...

Utility Evergy missed Wall Street's adjusted profit estimates for its third quarter on Thursday and cut the upper end of the adjusted earnings forecast 2025 due to the impact from milder summer weather conditions and higher interest costs. The quarter saw a drop in earnings for utilities like Evergy due to a cooler than normal summer. In a press release, CEO David Campbell stated that while we have implemented cost-saving and mitigation measures across the company, they do not completely offset weather headwinds in the second and third quarters. The high interest rates have made it difficult for utility companies...

Ameren Corp, an utility company, beat Wall Street expectations for its third-quarter profits on Wednesday. It also raised its profit forecasts for the year citing increased rates and strong demand. U.S. utilities are seeking higher rates due to the extreme weather conditions and the growing demand for data centers. According to a study backed by the Department of Energy, the power demand for data centers is expected to triple within the next three to four years. This could consume up to 12% of all electricity in the U.S. Ameren expects a 2025 adjusted profit between $4.90 and $5.10 per common...

The utility firm Talen Energy announced a higher third-quarter profit Wednesday, as strong U.S. demand for power helped offset increased energy purchase costs. However, adjusted core profit fell short of Wall Street expectations. U.S. Energy Information Administration estimates that the U.S. will see a record increase in electricity demand in this year and 2026. This is due to data centers' large energy requirements and rising domestic consumption. The U.S. Energy secretary Chris Wright announced last month that he would allow a part of Talen’s oil-fired Wagner plant in Maryland to operate above its limits until the end of 2025. He...

Orsted, the Danish offshore wind company, said that it has no plans to acquire the renewables division of Equinor. Equinor is its second largest shareholder and had proposed closer ties with Orsted. Equinor is a Norwegian oil and gas group that also produces renewable energy. It took a 10% share in Orsted in October last year, and invested close to $1 billion into the company. Last week, it said that offshore wind needed consolidation. Orsted shares are down 85% since their peak in 2021, due to rising costs, disruptions of the supply chain, and challenges in the United States, where...

Sempra, a Texas-based energy infrastructure company, beat third quarter profit expectations on Wednesday. Growing investments in its Texas utility drove the results, while California units streamlined operations to improve efficiency due to regulatory changes. Following the results, shares of the company increased by 2% on premarket trading. According to LSEG data, the San Diego-based firm reported an adjusted profit of $1.11 for the three-month period ended September 30. This beat analysts' average estimates of 91c per share. Sempra Texas's utility Oncor, which continues to expand its grid in order to meet the rising demand for power from industrial customers and...

AES, a U.S. utility company, reported on Tuesday a higher profit for the third quarter due to increased electricity rates and booming demand. Utilities are pushing to increase customer bills in order to fund upgrades to critical infrastructure, such as electrical grids or power lines. This is to support a surge in electricity consumption that has never been seen before. The main reason for this is the rapid expansion of data centers devoted to artificial intelligence (AI) and cryptocurrency. AES's renewables unit has seen significant growth since last year. This is due to a global push towards cleaner power sources,...

Eversource Energy, aided by its higher service rates, beat Wall Street's expectations for the third quarter profit on Tuesday. After the bell, shares of the company grew 2%. U.S. utilities are seeking rate increases to upgrade their grids in the face of extreme weather conditions and a growing demand for industrial electrification, data centers and industrial electrification. Rate-case proceedings are used by utilities to determine the amount customers pay for services such as electricity, gas, steam, and private water. Eversource's profit in its electric transmission unit rose by 6% during the third quarter to $185.5 millions, while that of its...

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...

A lobby leader said that the nuclear industry in Japan wants more support for building new reactors under the newly elected pronuclear prime minister Sanae Takaichi. This includes state-run auctions of capacity, according to a Thursday statement. Only 14 of the 54 reactors that operated in Japan prior to the Fukushima nuclear disaster in 2011 have been brought online. Takaichi said reviving the nuclear power was key to Japan's security. Japan has focused on restarting reactors that have been shut down - the government extended the operating life from 40 to 60 year - and only one new plant is...

Ilya Rebrov, the deputy director general of Rosatom's Chinese division, was quoted on Thursday as saying that Rosatom had made significant progress in placing bonds on the Chinese market. Interfax reported that Rebrov stated that a placement would take months or even weeks. He said that despite the "pressure" Russian industry was under, Rosatom managed to get a rating by a Chinese credit rating agency. It also took decisions which had brought it closer to its goal of being able raise debts in China. Atomenergoprom, Rosatom's power unit, received a "AAA" credit rating in April from China's Dagong Global Capital...

On Thursday, a U.S. court upheld the validity and the 2020 bonds of Venezuelan oil company PDVSA. This led to the suspension of an auction of shares of the parent company of Venezuelan-owned U.S. refining firm Citgo. The bonds are secured by a majority stake in Citgo, which is ultimately owned by Caracas-headquartered PDVSA. The company defaulted in 2019 on the bonds, putting the refiner under threat of seizure from creditors. Since years, bondholders and companies expropriated by Venezuela have been fighting in U.S. courtrooms for the country's assets abroad, including Houston-based refiner Citgo Petroleum valued at $13 billion. Venezuela...

Elliott Management, an activist investor and Kansai electric power shareholder, has said that the Japanese utility can become a better long-term investment if it sells non-core assets, boosts profitability, and increases shareholder returns. Elliott is now one of the three largest shareholders in Kansai, Japan's largest nuclear power company by number of reactors online. The stake, which ranges between 4%-5%, was disclosed on Wednesday by a source familiar with the situation. In a Wednesday statement released from London, Elliott stated that it looked forward to working closely with Kansai's management team and other key stakeholders in order to enhance the...

The Financial Times reported on Wednesday that activist investor Elliott Management is now one of the three largest shareholders in Kansai Electric Power, with a stake between 4% and 5 %, according to people familiar with the situation. Kansai's shares rose 6% after the report. According to the report, Elliott has urged Kansai, a major nuclear operator, to increase dividends, and buy back shares, by selling non-core assets worth 150 billion yen per year. The FT reported that Elliott had identified non-core assets worth over 2 trillion yen. These include a stake in a building firm and property worth more...

The Russian state nuclear company Rosatom is planning to issue bonds in yuan currency in China, a spokesperson for the company said on Monday. The spokesperson did not provide any further information. The announcement by Rosatom comes after Russian President Vladimir Putin visited China last week and called for a joint financial infrastructure between countries in the "Global South". Alexei Likhachev, Rosatom's chief executive officer On the sidelines the four-day trip, the Russian giant said that it was willing to help China surpass the United States when it comes to installed nuclear generation capacity. Likhachev stated that Russia has helped...

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...

The excitement over a possible U.S. rate cut in September waned on Monday. U.S. stock futures fell during pre-market trade as investors focused on the larger economic picture. As of 1258 BST, the S&P 500 was down 0.2% and Nasdaq Futures were down 0.3%. This indicates a lower Wall Street opening. Powell's change in stance has caused futures markets to price an 84% probability of a quarter point rate cut in September and at least 100 base points of easing up to 3.25-3.5% in the middle of next. The broadest MSCI index of world stocks rose by 0.1%, and remained...