Low natural gas prices make the competitive electricity industry’s future look bleak in the near them, according Moody’s Investors Service’s yearly outlook report.
Moody’s identified Illinois Power Generating and FirstEnergy Solutions as utilities with negative credit ratings because of gas’ displacement of coal-fired and nuclear generation, leaving the utilities exposed.
The credit agency also anticipates anemic demand because of slow economic growth, advances in energy efficiency and growth in distributed generation. It noted that both PJM and ERCOT have cut their load growth forecasts.
More: Moody’s Investors Service
PSEG Solar Source Purchases 16.8-MW Facility from Ecoplexus
PSEG Solar Source purchased a 16.8-MW solar energy facility in Martin County, N.C., from Ecoplexus — marking the second project the two companies have collaborated on.
Ecoplexus will operate the facility, which will use about 50,000 mono-crystalline Trina solar panels with power electronics inverters. The facility has a power purchase agreement with Virginia Electric and Power.
The two companies also worked together on the PSEG Meadows Solar Center, also in Martin County, which went online in June.
More: Product Design and Development
NIPSCO Looking to Do $399M Coal Ash Containment Projects
Northern Indiana Public Service Co. wants to take on $399 million in environmental protection projects aimed at containing coal ash.
The utility has submitted its request to Indiana regulators to undertake the work, which is needed to comply with new federal mandates designed to prevent groundwater and other pollution from coal ash. The utility wants to bill customers for 80% of the cost.
Much of the work would be done at the Schahfer Generating Station, where NIPSCO has transported coal ash from other power plants for more than a decade, spokesman Nick Meyer said.
More: The Times of Northwest Indiana
DTE Energy’s Fermi 2 Shut Down for Maintenance Again
DTE Energy’s Fermi 2 nuclear power plant was shut down last week for repair of a main unit transformer — marking the second time in 2016 that the Newport, Mich., plant was closed for maintenance.
Last week’s closure was not related to the plant’s change in the sodium pentaborate concentration in October when DTE officials had to notify the Nuclear Regulatory Commission, spokesman Stephen Tait said.
The company has not said when the reactor will return to full capacity.
More: The Monroe News
AEP Names Satterwhite President, COO of Kentucky Power
American Electric Power has named Matthew J. Satterwhite president and chief operating officer of Kentucky Power, effective Dec. 9. He replaces Gregory G. Pauley, who is retiring after 42 years of service at AEP.
Satterwhite, who previously served as senior counsel since 2008, will be responsible for distribution operations serving 169,000 customers in eastern Kentucky, as well as the operating unit’s safety, customer service, marketing, communications, community affairs, governmental affairs and regulatory functions.
More: American Electric Power
University Groups Challenge Duke’s Natural Gas Plant
A 21-MW natural gas plant that Duke Energy has proposed for Duke University’s campus has sparked opposition by students, faculty and other environmentalists.
The company and the university are trumpeting the $55 million combined heat-and-power project as a means to reduce carbon emissions while providing steam power for the school.
Claire Wang, student organization officer for the two-year-old Duke Climate Coalition, said faculty at the university’s Nicholas School of the Environment calculated that emissions would only be reduced by 2 to 4% — not the 24% claimed by the university.
More: Charlotte Business Journal
Rocky Mountain Power Seeks Rate Hike for Solar Customers
Rocky Mountain Power has filed a proposal with the Utah Public Service Commission that would raise a typical net-metering customer’s electric bill from $55/month to $74.
Ratepayers who do not have solar panels currently subsidize net-metering customers by $400 annually — and the new rate schedule seeks to have net-metering customers pay their fair share, said Gary Hoogeveen, senior vice president of Rocky Mountain.
Solar advocates fear a rate increase will impede development of rooftop solar in Utah.
More: The Salt Lake Tribune
Tony Clark Joins Telecom, Energy Law Firm as Senior Advisor
Former FERC Commissioner Tony Clark has agreed to join law firm Wilkinson Barker Knauer as a senior advisor on Jan. 3.
Clark, who served on the commission for four years before leaving at the end of September, will split his time between the firm’s D.C. and Denver offices. The firm specializes in telecommunications, media and energy law.
Clark’s “expertise, along with his sharp intellect and warm collegiality, makes him a perfect fit for our firm.,” said Bryan Tramont, WBK managing partner.
More: Wilkinson Barker Knauer