Eversource Credit Ratings Downgraded

S&P Global Ratings downgraded the credit ratings of a pair of Eversource Energy subsidiaries. 

Eversource’s electric distribution company, Connecticut Light & Power, was downgraded from an “A” to an “A-” while the company’s natural gas subsidiary, Yankee Gas, saw its rating drop from an “A-” to “BBB.” 

With the credit ratings, S&P cited a negative regulatory environment for Connecticut utilities because of PURA rulings that have either dramatically reduced or eliminated requested rate increases. 

More: CT Insider 

BP Forms OSW Joint Venture with Japan’s JERA

BP and Japanese power generator JERA announced that they have agreed to a 50-50 joint venture called JERA Nex bp. 

The companies said they will pool together almost all their operating assets and development projects with a potential capacity of 13 GW. The partners have agreed to provide up to $5.8 billion in funding for projects approved by the joint venture by 2030, with BP contributing up to $3.25 billion and JERA paying up to $2.55 billion. 

More: Business Standard 

CenterPoint Energy Announces Senior Leadership Changes

CenterPoint Energy last week announced several senior leadership changes that will take effect on Jan. 1, 2025. 

The changes include the appointments of Richard C. Leger as senior vice president of CenterPoint’s multi-state gas business and Bertha Villatoro as senior vice president and chief human resources officer. Leger has served in his current role on an interim basis since July 2024. 

Lynne Harkel-Rumford, who currently serves as executive vice president and chief human resources officer, will retire Feb. 3, 2025. 

More: CenterPoint Energy