Electric Utilities

Entergy Louisiana's unit has received regulatory approval from the state to proceed with infrastructure investments related to Meta's global data center located in Richland Parish. Meta, the parent company of Facebook and Instagram, announced in December that it would invest $10 Billion in Louisiana's data center. This would make Louisiana the largest datacenter in the world. The U.S. datacenter power consumption is expected to triple by 2030, due to AI expansion. This has led tech companies to explore other energy sources including nuclear power. Meta, in December, sought proposals from developers of nuclear power to meet its AI objectives. Entergy...

Black Hills and NorthWestern Energy announced on Tuesday that they will merge. This merger creates a $15.4 billion regulated utility for electric and gas, better equipped to meet the rising demand in U.S. electricity. U.S. utilities race to increase their capacity as electricity consumption increases, driven by artificial intelligence data centers that consume a lot of energy and cryptocurrency data centres. Also, residential and commercial usage is increasing. Black Hills and NorthWestern have agreed to invest together more than $7 Billion between 2025-2029 in new natural gas and electric infrastructure. NorthWestern shareholders who hold Black Hills stock will receive 0.98...

Residents of the Bahamas and Turks and Caicos were bracing themselves for the first Atlantic hurricane of the season, Category 4 Erin. It had strengthened over the weekend as it swept through the Caribbean. Erin is yet to cause any significant damage or landfall. National Hurricane Center of the United States (NHC) stated that Erin would strengthen a bit on Monday, but will bypass northern Atlantic islands. The storm will probably remain a major hurricane until the middle of this week but avoid Bermuda and the U.S. coastline. The storm had maximum sustained winds of 225 kph (140 mph) on...

The company announced on Thursday that it has signed several deals for advanced nuclear energy, including power purchase agreement for fission and microreactors pre-ordered for its operations. The race by Big Tech to develop technologies such as generative artificial intelligence that require warehouse-like data centres and can use city-sized quantities of electricity on a single location is increasing global energy consumption, raising concerns about depleted supplies. Data centers have a voracious appetite for energy, which has prompted a growing number of power deals that will fuel them with advanced nuclear technology. The United States, which is the hub of the...

The U.S. Department of Energy announced on Tuesday that it had selected 11 companies to participate in a pilot project to build high-tech nuclear test reactors. At least three of these companies are expected to be operational within a year. Why it's important The U.S. wants to develop small reactors to meet the growing demand for power. They say that they will be cheaper per Megawatt than the large reactors of today because the components can be manufactured in factories. The move by the department comes after President Donald Trump's executive orders were issued in May, which sought to speed...

Utility Consolidated Edison beat Wall Street expectations for adjusted second-quarter profit on Thursday due to higher power rates, and strong performances in its electric and Gas segments. Rate cases are typically used by utilities to increase their rates. They base this on the investments or expenses they incur in providing services. Kirk Andrews, CFO of the company, said that the company received approval for $440 million to be invested in five projects designed to advance building and transportation electrification. According to the U.S. Energy Information Administration, power consumption will reach new records in 2025 and 2026. This is due to...

The Trump administration announced on Thursday that it had issued a fifth loan guarantee to Holtec International for its Michigan nuclear plant. Holtec International hopes this will be the United States' first reactor to restart following a shutdown. The Department of Energy has announced that it has disbursed over $83 million of a maximum loan guarantee of up to $1.52billion for the 800 megawatt Palisades nuclear reactor. Former President Joe Biden’s Loan Programs Office initiated the conditional loan guarantee to support nuclear power, which produces virtually emission-free electricity, and to help satisfy increasing electricity demand from artificial intelligence and data...

Vistra raised its adjusted EBITDA forecast for 2026 and announced plans to increase nuclear capacity by 2030, as it prepares itself for an expected surge in U.S. demand. This comes as the company's second-quarter profits fell due to higher costs. The company's shares rose by nearly 4% during morning trading. Vistra expects to add 600 megawatts by mid-2030 in order to meet the rising demand for electricity, primarily from data centres and AI-related industrial expansion. The company was granted regulatory approval in July to continue operating its Perry nuclear power plant in Ohio until 2046. The Texas-based utility raised its...

Vistra Corp's shares fell about 6% before the market opened on Thursday after it reported a decline in its second-quarter profits, due to higher operating and interest expenses. The continued rise in interest rates over time can be a burden on utilities, as it increases the cost of investing in critical infrastructure like electrical grids. Interest costs for the company increased by 25.7%, to $303 millions in the quarter reported. Total operating expenses grew by about 17%, to $733million. The company's core adjusted profit for ongoing operations fell to $1.35bn from $1.41bn a year ago, due to plant outages. Vistra...

Constellation Energy, a U.S. utility company, beat Wall Street expectations for its second-quarter adjusted profits on Thursday. This was due to rising electricity demand and lower interest costs. According to the U.S. Energy Information Administration, power consumption in data centers powered by AI will reach record levels between 2025 and 2026. The S&P Index tracking utilities increased 3.5% during the quarter ending June 30. Joe Dominguez, CEO of Xcel Energy, said: "We're adding megawatts to our grid by extending the life of our existing fleet...and launching a demand response tool powered by AI that helps businesses cut energy consumption during...

Utility Evergy reported a decline in its second-quarter profits on Thursday. This was due to higher operating and interest costs, as well as a milder climate that reduced electricity consumption. Interest rates that are higher for longer periods of time increase borrowing costs for the power companies. These companies need to borrow more money for their expenses, such as maintenance and upgrades to the electric grid. Evergy reported that interest costs rose 7.1%, to $153.8 millions in the third quarter. In a press release, CEO David Campbell stated that "in July, we announced an unanimous settlement agreement in Kansas Central's...

Allete, an American utility company, reported a decline in its second-quarter profits on Thursday. The fall was attributed to lower industrial margins and higher operating expenses. The higher interest rates for longer can be a burden on utilities, as they make it more expensive to invest in critical infrastructure like electrical grids. Interest expenses for the quarter were $23.1 million, an increase of almost 15% compared to a year earlier. Total operating expenses increased 5%, reaching $342.3 millions. According to CFO Jeff Scissons, the results of the quarter were "primarily impacted by lower industrial margins due to lower sales to...

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...