Regulators in Maryland and D.C., the last holdouts to Exelon’s proposed $6.8 billion acquisition of Pepco Holdings Inc., have completed evidentiary hearings and are expected to rule on the deal by May 8 and May 13, respectively. Approval would create the Mid-Atlantic’s largest electric and gas utility.
Opposition in D.C. continues to mount, with two more of the District’s Advisory Neighborhood Commissions last week signing resolutions against the merger, tipping the resistance among those 40 groups to more than half. None of the ANCs have come out in support of the takeover, despite being approached by Exelon. The District’s Office of People’s Counsel and three members of the D.C. Council also oppose the deal. (See Deadline Looms in Exelon-Pepco Deal.)
Meanwhile, Exelon has pulled its advertising supporting the merger in Maryland and D.C., prompting some to wonder if that means the company has concluded the acquisition is a done deal. “The decision to discontinue ads in Maryland and D.C. is completely unrelated to any anticipated action the Maryland PSC may or may not take in coming weeks with regard to the merger,” Exelon spokesman Paul Adams said. “The ads have run for several weeks, and we believe they have been effective in educating people about the benefits of the merger.”
More: The Sentinel
Half of U.S. Fracking Companies Will be Gone By End of Year
The slumping price of U.S. oil and gas will halve the number of hydraulic fracturing companies, according to an industry executive’s prediction. Rob Fulks with Weatherford International, one of the larger fracking-service companies, predicts that the number of fracking companies will fall from 41 to just 20 by the end of the year, either through acquisitions or closures.
Speaking at the IHS Cera Week conference in Houston, Fulks said low energy prices are causing a decline in demand for drilling services. Some consolidation moves are already apparent, he said, pointing at Halliburton Co.’s acquisition of Baker Hughes Inc. in a $34.6 billion deal announced in November.
More: Bloomberg News
Dominion Backing Away From Offshore Wind Pilot Program
Unexpectedly high costs have Dominion Virginia Power rethinking its offshore wind pilot program.
The company obtained the permits, did the site test work, drew up plans and sent out bid requests. It figured it would cost about $230 million to erect two wind turbines off Virginia Beach. But the bids came back at between $375 million and $400 million. Now, a Dominion spokesman said the pilot program is on hold, while the company and its partners research other ways of building the project.
More: Virginian-Pilot
Alliant Taking Steps to Prevent More Eagle Deaths
A month after an eagle was electrocuted on one of its power lines, Alliant Energy is installing equipment aimed at preventing more avian injuries. In March, the body of a dead eagle was found beneath one of its lines near the town of Harper, Iowa.
While birds can perch on one charged wire without risk, Alliant is installing plastic insulation on some wires to decrease the likelihood of a bird contacting two charged wires at once. Work crews are also installing triangular plastic devices on the crossarms to discourage birds from perching.
Birdwatcher say hundreds of eagles congregate in the area, where there is a proliferation of hog farms.
More: The Gazette
Alevo Makes First Sale of 2-MW GridBank Battery System
Alevo Group says it signed its first sales contract on its 2-MW GridBank battery system. The company said it will sell three units to an unidentified buyer. In February, the company and Customized Energy Solutions announced they would provide 200 MWs of merchant storage capacity to regional transmission operators, half of it to PJM.
More: Charlotte Business Journal
RGGI Auctions Provided $2.9 Billion Returns
The nine states of the Regional Greenhouse Gas Initiative (RGGI) say they generated $2.9 billion in savings through 2013. A report by RGGI shows the CO2 allowances auctions provided lifetime energy bill savings to more than 3.7 million participating households and 17,800 businesses.
More than $1 billion in RGGI auction proceeds were invested in programs including energy efficiency, clean and renewable energy, greenhouse gas abatement and direct bill assistance. Energy efficiency continued to receive the largest share of investments.
Over their lifetime, the investments are projected to save more than 48.7 million BTU of fossil fuels and 11.5 million MWh of electricity, avoiding the release of about 10 million short tons of carbon pollution.
More: RGGI
TVA Shutting Coal Units, But Wants to Stay in Steam Business
The Tennessee Valley Authority said it wants to install a heat recovery steam generator on one of the 20 gas-fired combustion turbines at the Johnsonville Fossil Plant in Tennessee to provide steam to an adjacent titanium dioxide manufacturer. TVA is retiring the coal-fired units at the Johnsonville plants by the end of 2017, but wants to continue selling steam to the factory. It has prepared a draft environmental study supporting the plan.