Electric Utilities

Two people familiar with this matter say that the SoftBank Group has hired banks to prepare the initial public offerings for its energy and infrastructure developer SB Energy, and its planned autonomous robots spin-off Roze. This is as founder Masayoshi?Son ramps up his Japanese group's push to build out artificial intelligence infrastructure, amid strong investor interest in companies supporting AI buildout. SoftBank has hired JPMorgan Goldman Sachs Morgan Stanley Citi Mizuho and Mizuho to prepare SB Energy's IPO. The IPO could happen as soon as September, according to the sources. SB?Energy may seek a market valuation of over $50 billion,...

Nuclear power company Oklo said?on? Tuesday that the U.S. Energy Department has selected it for advanced talks about taking Cold War era plutonium - a dangerous, fissile substance - for use as potential fuel for nuclear reactors. Last year, it was reported that the Trump Administration plans to provide about 20 metric tonnes of Cold War-era Plutonium? from dismantled warheads to U.S. energy companies for use as reactor fuel. About a year ago, President Donald 'Trump' signed an executive ordnance ordering the U.S. Government to stop a large part of its program to dilute plutonium and dispose of it and...

The Trump administration further delayed on Thursday the planned closure of Units 3 and 4, at the Eddystone fossil fuel-fired power generation generating station in Pennsylvania, by ordering Constellation Energy Corp. to continue operations beyond the shutdown date. Energy Secretary Chris Wright issued an emergency order directing PJM interconnection, the largest power grid in 'North America to work with Constellation Energy in order to ensure 'the two units are operational and to minimize costs for American people, the?Energy Department said in a press release. Wright stated that "energy sources which perform at their peak are the most valuable." This is...

SB Energy, a power?infrastructure company, has filed a confidential IPO in the United States, it said?on Wednesday. The firm is looking to capitalize on investor demand for new listings. Investors are driving the IPO market, and recent'strong debuts' of AI chipmaker Cerebras Systems as well as geothermal -energy firm Fervo Energy have boosted confidence in firms that want to tap into public markets. SpaceX filed for an IPO in the U.S. on Wednesday. SB Energy is a large-scale infrastructure project developer backed by the SoftBank Group and OpenAI. The company was founded in 2019 and is currently building data center...

The massive merger between NextEra and Dominion Energy may hinge on the ability of the combined company to keep electricity costs down, even as it rushes in order to supply energy-hungry data centers that are driving up consumer prices. NextEra?said?buying Dominion would allow it to quickly build new generation in areas where others have lagged, and connect proposed data centres waiting to start operations. These companies will have to pass multiple reviews by local, state and national regulatory agencies who will evaluate the consumer impact of rising power bills in certain U.S. areas due to the demand for AI data...

Lincoln International announced?on Tuesday that it had raised $421 in its U.S. Initial Public Offering, clearing the way for one of the rare public market debuts by an investment bank. Chicago-based boutique investment banks and their selling stockholders, who were based in Illinois, sold 21 million shares at $20 each, which was the upper end of the price range they had set. This gave the company an estimated value of $2.04 billion. The IPO market is fueled by a robust investor demand. Cerebras Systems, a company that makes AI chips, has made a stellar debut, which encourages companies to list....

According to a regulatory filing, Parabilis Medicines filed on Tuesday for an initial public offering in the United States. The company said it would use a portion of the proceeds from the IPO to help develop its drug pipeline. Investors' appetite for new listings is increasing after companies like?AI chipmaker Cerebras Systems, and geothermal power firm Fervo Energy have made strong debuts on the market. Parabilis, a biopharmaceutical firm in clinical development, is developing Helicons. This class of therapies targets proteins that are difficult to treat. The filing stated that the company's "lead drug" candidate, zolucatetide has been evaluated by?more...

NextEra Energy, a power company, will purchase a rival?Dominion Energy for $66.8 Billion. This would make it the largest electric utility in the United States. The deal would be the largest acquisition in the U.S. power industry. It adds to an industry-wide wave of consolidation as utilities rush to increase their portfolios to meet the unprecedented surge in demand for electricity. NextEra, based in Florida, is one of the largest energy developers in the world. Access to Dominion Energy’s portfolio would allow it to expand its operations into the PJM interconnection region and take advantage of opportunities available in Virginia....

India's equity benchmarks closed at the same level on Monday, as concerns about the Iran War offset a partial rebound in IT stocks. The general mood remained weak due to concerns?over the?weakening rupee, high energy prices, rising yields on bonds and escalating tensions related to the Iran conflict. Saudi Arabia reported intercepting three drones. A drone attack caused a fire to break out at a nuclear plant in the United Arab Emirates. U.S. president Donald Trump said Iran had to act "fast" to stop the U.S. and Israel war with Iran. The Nifty 50 closed 0.03 % higher at 23,649.95...

The Indian stock market fell and the rupee hit a new record low on Monday morning as oil prices rose after a drone strike?on an?assault?on a nuclear?plant?in the United Arab Emirates?intensified the tensions in Middle East. The mood was further dampened by U.S. president Donald Trump's warning that "the time is running out" for Iran as the Middle East conflict appears to be stalling. As of 10:05 a.m. IST, the Nifty 50 index fell 1.26%, to?23.347.2. The BSE Sensex dropped 1.20%, to 74.335.62. 15?of 16 major sectors fell. Small-caps and midcaps both lost 1.6% and 2.1%, respectively. The rupee fell...

Bloomberg News reported that the U.S. power firm NextEra Energy was in talks with Dominion Energy about a deal that would value Dominion Energy at $76 per share, or $66 billion. The two companies would form one of the biggest power companies in America, measured by their market value. Calculations show that the offer represents an increase of approximately 21%?over Dominion's May 15 closing price. The?Bloomberg article added that NextEra would exchange about 0.8 shares of its stock per outstanding share?of Dominion in a deal which could be announced by Monday. The report stated that while NextEra intends to pay...

?U.S. The Financial Times, citing sources, reported that NextEra Energy was 'in talks' to merge with the smaller Virginia-based utility, Dominion Energy. This deal would?create a $400 billion company, including debt. Reports said that the deal could be announced as early as next week. It is expected to take a form similar to a stock transaction. The report said that discussions were still ongoing but the talks might not succeed. The report could not be verified immediately. Requests for comments outside of regular business hours were not immediately responded to by the companies. The U.S.?power consumption reached a second consecutive...

CME Group is planning to launch a physically-based uranium futures contract in the next few months. This'move' could attract institutional money into the 'thinly traded, opaque market. Investors are increasingly interested in nuclear fuel as they expect new reactors to be built for climate targets or data centres that consume a lot of energy. John Perdew is the co-head for nuclear fuels at TP ICAP. There's a great deal of interest in uranium. A lot of capital is looking into it. There is a contract for futures, but only 350 lots are open and it has four prices per month....

Morgan Stanley analysts claim that advanced artificial intelligence tools can help reduce video game development costs by almost half and unlock about $22 billion in annual profits for game developers worldwide. In a note published on Tuesday, the brokerage stated that AI tools could be used to automate certain tasks, such as creating gaming environments, generating dialogue, and testing software. This would help reduce production times and costs and increase margins. It added that gains will not be distributed equally across the gaming industry. Wall Street brokerages estimate that global consumer spending on video games this year will reach $275...

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...