Electric Utilities

Ameren Corp.'s Illinois division said Tuesday that it had received approval to upgrade and build 380 miles worth of power lines in 13 counties of the state, as part of an $1.6 billion energy access project. Construction will begin this year, and should be completed by 2029. U.S. utilities are under increasing pressure to increase grid capacity due to the rising demand for electricity and the shift towards cleaner energy sources. This vital project will ensure energy access for residential and business growth, said Shawn Schukar. He is the chairman and president of Ameren Transmission Company of Illinois. The Illinois...

Sixth Street, a U.S.-based investment firm, announced on Monday that it had purchased 38% of Sorgenia. The deal values Sorgenia at $4.65 billion. Asterion Industrial Partners, a Spanish infrastructure fund, can now exit Sorgenia’s capital. F2i, Italy’s main infrastructure fund with a 62% share, remains the largest shareholder of Sorgenia. F2i has agreed to transfer its assets for wind and solar energy generation in Italy and Spain, including EF Solare and Renovalia Tramontana, to Sorgenia. Asterion invested its first money in Sorgenia in 2020, supporting the company's efforts to become a major player in Europe’s green energy transformation. Richard Sberlati,...

Dominion Energy beat its second-quarter revenue estimates and profit expectations on Friday, thanks to rising electricity demand in Virginia and South Carolina. The demand for electricity in the U.S. has increased as tech companies have built power-hungry data centers that run artificial intelligence models. The U.S. Energy Information Administration stated earlier this year that power consumption is expected to hit record levels in 2025 and 26. This will be driven by data centers, cryptocurrency and the electrification and home and car. The second quarter saw an increase of 13.2% in adjusted operating earnings for Dominion's Virginia division, to $549 millions....

Edison International announced a decline in its second-quarter profits on Thursday as it struggled to deal with increased operating costs and investigations related to wildfires that occurred earlier this year in Los Angeles. The Los Angeles area was devastated by multiple wildfires that scorched thousands of acres in January. It is estimated to be the costliest natural disaster in U.S. History. Electric utilities in the region have also come under increased scrutiny. Wildfires that originate on power lines can also cause power outages. Southern California Edison, a subsidiary of Edison International, faces multiple lawsuits alleging that its electrical equipment caused...

Utility AES Corporation beat Wall Street expectations for its second-quarter profits on Thursday. This was largely due to higher earnings in the renewables segment, and a reduced tax rate. A global push to find cleaner power sources is driving the company's renewables unit, which has grown significantly since last year. This comes at a time of record-breaking U.S. electricity consumption. According to the U.S. Energy Information Administration, power consumption in 2025-2026 will reach record levels, largely due to Big Tech's increasing investment in artificial-intelligence technologies that are dependent on energy-intensive, data center facilities. The backlog of power purchase agreements, which...

Edison International announced a decline in its second-quarter profits on Thursday as it struggled to deal with increased operating costs and ongoing investigations related the Los Angeles fires that occurred earlier this year. The wildfires that ravaged Los Angeles are expected to be one of the most expensive natural disasters in U.S. History. Electric utilities in the area have been under increased scrutiny. Wildfires are a major cause of power outages, and can be caused by damage to power lines or infrastructure. However, these fires can also start from power lines that have not been properly maintained. Southern California Edison,...

Eversource Energy announced a higher second-quarter profit Thursday as continued investments in its electric transmission systems and rate increases throughout its New England service area helped offset higher operating expenses. The utility's earnings for the quarter ended 30 June were $352.7 million or 96 cents a share. This is up from $335.3 millions or 95 cents a share compared to a year ago. Segmentally, Eversource’s electric transmission business saw a 10% increase in profit, reaching $208 million, in the second quarter. This was largely due to ongoing upgrades of its network in New England. Electric distribution unit's earnings were up...

Executives from the company announced on Thursday that PPL Corp.'s joint venture with Blackstone, to build power plants for Big Tech Data Centers, has secured land, and is in discussion with potential customers, as well as gas pipeline companies, and turbine manufacturers. The U.S. demand for electricity is rising due to the energy-intensive data centres needed for artificial intelligence expansion. This has raised concerns about reliability and costs for power grids that are running out of supplies. PPL CEO Vincent Sorgi stated on a conference call with investors that "Meeting the unprecedented growth in demand will require an unprecedented reaction...

The utility firm PG&E Corp. narrowly missed Wall Street expectations for the second-quarter profits, due to an increase in operating costs. The company's total operating and maintenance expenses rose by 3.7%, to $2.86 Billion. It also said that wildfire claims, net recoveries, and the utility’s wildfire fund expenditure increased from one year ago. PG&E is responsible for a number of wildfires in California, including the most deadly. It has made investments to improve its grid's reliability. The utility stated that it would build 700 miles underground power lines, and upgrade 500 miles of wildfire safety systems between 2025-2026. Patti Poppe,...

Exelon, a major U.S. electric utility, has 33 gigawatts worth of data centers interested in connecting to their system. The company is exploring its options to add new power supplies to keep up with the demand explosion, executives at the company said on Tuesday. Electric utilities are receiving massive requests for energy to power Big Tech's AI data centers. This is driving U.S. electricity consumption to new heights and putting pressure on the grid. Three gigawatts of power is enough to run all the homes in California combined with New York, Texas and New York. Exelon reports that 17 gigawatts...

Utility Southern Co increased its five-year plan for capital expenditures by $13 billion, to $76 billion, to meet the growing energy demands in the U.S. after exceeding Wall Street's expectations for second-quarter profits. As power demand increases across the nation, utilities add billions of dollars in capital investment plans for upgrades to electrical grid and infrastructure. The U.S. Energy Information Administration predicts that power consumption will reach record levels in 2025 and in 2026, due to data centres dedicated to artificial intelligence, cryptocurrency and the use of electricity by homes and businesses, as well as the reduction in fossil fuels...

Utility PPL's second-quarter profits missed Wall Street expectations on Thursday due to higher operating costs and interest charges. In April, more than 450,000 Pennsylvanians were left without electricity after a storm system caused severe weather in the central U.S. This increased costs for utilities such as PPL and FirstEnergy, which operate in Pennsylvania. Operating expenses for the company were $1.62 billion, up about 9% from a year ago. Interest expenses for the quarter were up 9% to $199 million compared to a year ago. Interest rates that are higher for longer can be a burden on utilities, as they make...

Residents along the Pacific coast of Japan rushed for higher ground as tsunami warnings were issued following a massive quake off Russia's Far East. The earthquake brought back painful memories from the 2011 nuclear disaster and earthquake. The television banners read "TSUNAMI!" EVACUATE!" As tsunami waves approached Japan, broadcasters issued similar warnings. They cut their regular programming and focused on evacuation orders. "Do not stare at the screen." Evacuate now!" A news presenter from the public broadcaster NHK yelled. The warnings brought back memories of the March 11th, 2011 earthquake. More than 15,000 died when a 9.0-magnitude earthquake triggered a...

Kansai Electric Power announced on Tuesday that it would begin the surveys to build a new reactor for its Mihama Nuclear Power Station in Fukui Prefecture, western Japan. The existing facility will be replaced. This is the first concrete step in building a nuclear reactor in Japan after the Great East Japan earthquake in 2011, which resulted in a meltdown of the reactor that forced Tokyo Electric Power to close its Fukushima Plant. As the country relies heavily on imports of fossil fuels, the government wants to see nuclear power contribute more to energy security. Kansai is Japan's largest nuclear...

The atomic energy agency of Kazakhstan announced on Saturday that Rosatom, Russia's nuclear state corporation, has been selected to lead a consortium for the construction of the first nuclear plant in Kazakhstan. The state-owned China National Nuclear Corporation as well as French or South Korean companies also submitted proposals. Kazakh Atomic Energy Agency, which was established in March this year, has said that it has reviewed and evaluated various reactor technologies based on criteria such as nuclear plant safety, training of personnel, and other factors. It said that "the agency determined that the most advantageous and optimal proposals for construction...

Chinese stocks listed on Hong Kong's stock exchange fell to a near-month-low on Monday, and the offshore yuan also dropped as tensions between China and the United States over tariffs continued to weigh on sentiment. The tensions between the U.S. and China over trade have risen again after a new spat about tariffs. China's Commerce Ministry has rebuked U.S. president Donald Trump's allegations that Beijing violated the Geneva consensus, calling them 'groundless' and vowing to take 'forceful measures' to protect its legitimate rights. Treasury Secretary Scott Bessent announced over the weekend that U.S. president Donald Trump and Chinese president Xi...

NextDecade, a U.S. producer of liquefied gas, announced on Thursday that it had signed a deal for supplying Japan's largest power generator JERA 2 million tonnes of LNG per year from the fifth liquefaction plant in its Rio Grande Project. Early trading saw NextDecade shares up 5.5% to $8.11. The United States will be the largest LNG exporter in the world in 2024. It is expected to ship 11.9 billion cubic foot per day. This has been boosted by President Donald Trump lifting a moratorium in January on new export licenses. NextDecade’s deal with JERA - Japan's largest LNG buyer...

Nuclear technology company Oklo announced on Tuesday that it had signed a Memorandum of Understanding (MOU) for the development of Oklo’s planned Aurora powerhouse with South Korea’s nuclear plant operator Korea Hydro & Nuclear Power. In morning trading, shares of Oklo rose 1.9% to $49.71. Oklo said that the MOU also outlines plans for collaboration on the development of advanced nuclear technology worldwide. The nuclear industry is in high demand because it's considered a cleaner fuel source and more reliable than solar or wind energy. The U.S. president Donald Trump signed Friday executive orders to jumpstart nuclear industry. These orders...

Origin Energy, Australia, downgraded its annual forecast on Monday due to the unseasonably warm temperatures in Britain during March and April, as well as one-off effects. This sent its shares to an almost one-month-low. The shares of the Sydney-based firm fell by around 4.4% at 0508 GMT after reaching their lowest level since the first of May earlier in the day. The benchmark ASX200 index was flat. Origin now expects to lose up to A$100m ($65.19m) on its annual earnings before taxes, interest and depreciation. Origin estimated that it could contribute up to A$100m, while the EBITDA was only A$55m...

Fidra Energy's plan to convert a 55-acre patch of countryside in northern England into Europe's biggest energy storage facility, a 1,45 gigawatt one once complete, was far from finalized when it acquired the land in 2023. Chris Elder, CEO of the Edinburgh-based firm, said, "We struggled to make economics work." The cost of the batteries used in this project has been roughly halved over the last 18 months. Fidra plans to begin installing battery units in its Thorpe Marsh 600-million-pound ($800 million) project next year. LFP batteries have fueled a boom in energy-storage projects, which - in terms of percentage...

Warren Buffett, perhaps the most famous investor in the world, is retiring at the end 2025. He will hand over Berkshire Hathaway's reins to vice chairman Greg Abel. This move marks the end of an era at Berkshire following Buffett's 60-year reign, during which he became a household brand, a multibillionaire, and an American success. Buffett, who is 94 years old, stated on Saturday that "I believe the time has come where Greg will be the CEO of the company by year's end." He wrapped up Berkshire Annual Meeting in Omaha Abel would have the final word, he said. He...

India's market regulator alleges that Pranav Adani, the director of several Adani Group companies and the grandson of the billionaire founder of the group, has shared sensitive price information and violated regulations designed to prevent insider trading. Adani, nephew of Gautam Adani was sent a warning by the Securities and Exchange Board of India last year. The notice alleged that he had shared information with his brother-in law about the 2021 acquisition of SoftBank's SB Energy Holdings by Adani Green before the deal announcement, according to the document and a source. This matter was not previously reported. In an email...

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,...

Taiwan won't raise electricity prices at this time due to global uncertainty about the impact of trade policies and geopolitical risk. However, the government will ask parliament for funds to help the state-run energy firm stem losses worth nearly $13 billion. In order to limit inflation, the government has heavily subsidised energy. However, it did increase power prices between September and April last year. After a meeting with its committee to review electricity prices on Friday, Taiwan's Economy Ministry said that the members "carefully examined the impact of electricity bill on prices and decided that electricity prices will not be...