Vivint Solar, an upstart business in the home security and automation fields, is planning an initial public offering for its solar segment, according to sources. Vivint’s IPO could come out as soon as September.
Vivint is the second biggest residential solar installation company in the U.S., behind SolarCity, which went public in December 2012 at $8 per share. Solar City shares closed Friday at $70.14.
More: Utility Dive
Sunoco Logistics Eying 2nd Shale Gas Pipeline
Sunoco Logistics, still finalizing its first cross-state pipeline in Pennsylvania to transport Marcellus Shale gas liquids, has already signed up a customer for a second pipeline. Austrian chemical company Borealis signed a 10-year agreement to buy ethane produced in the Marcellus and Utica shale fields. Ethane is used in plastics production.
The new agreement would go into effect in 2016. Sunoco is in the final stages of constructing its first line, Mariner East. It is scheduled to go into operation later this year. That project generated controversy among residents of the areas the pipeline crossed. Sunoco has been asking the state Public Utility Commission to designate the pipeline a public utility, which would ease the process of gaining rights of way. So far, it has been unsuccessful.
More: The Philadelphia Inquirer
LaSalle Unit 2 Shuts Down with Valve Problem
Unit 2 at Exelon’s LaSalle Nuclear Generating Station went into automatic shutdown last Tuesday when one of the station’s steam valves closed. The shutdown went according to plan, and no damage or impact on customers occurred, a station spokesperson said. The company is looking into the cause.
More: News Tribune (subscription required)
TVA Layoffs Reduced by Attrition, Retirements
The Tennessee Valley Authority said last week that it will accomplish most of its 2,000 job reductions through attrition, retirements and voluntary resignations, avoiding the need for massive firings. The cuts are TVA’s largest in 20 years.
TVA began the year with about 12,500 employees. This is down from 51,000 employees in 1981. TVA President Bill Johnson said the employee reductions are necessary in order to cut down on expenses and to keep electricity rates competitive in the region.
Labor unions are concerned that the layoffs merely mean that TVA is hiring more contractors. “As TVA is laying off some of our workers, they are filling some of that work with contractors or selecting managers or others to do the work from outside of our bargaining unit. Those are our major concerns,” said Faye Headrick, senior international representative for the Office and Professional Employees International union. The union represented 3,000 TVA employees 40 years ago but only about 600 now.
More: Chattanooga Times Free Press
FirstEnergy’s Harrison Plant Union Gets Contract
Workers at FirstEnergy’s Harrison Power Station in Haywood, W.Va., have been given their first contract. The Utility Workers Union of America, which has been negotiating since 2010, announced the contract last week. The coal-fired plant employs 184 workers. They’ve been fighting for a contract since they voted to unionize in September 2010. The 3.5-year collective bargaining agreement covers wages, benefits and working conditions. The plant was owned by Allegheny Energy and became part of FE’s fleet through a merger in February 2011.
More: The State Journal
PSEG One Step Closer to Permit for New Nuke
PSEG Nuclear is close to filing a draft environmental impact study on its plan to build a new nuclear station on Artificial Island. The company would need to complete a land swap of 631 acres with the U.S. Army Corps of Engineers on the island in order to go forward. Other studies, including a storm surge study, are also necessary. The environmental impact study could be filed as soon as September. Final action could come late next year, with a separate decision on technologies, design and construction to follow.
More: The News Journal