Restructuring eliminates $5 billion in debt Peabody Energy emerged from bankruptcy today, ending a year-long Chapter 11 process. The company trades under the stock ticker: BTU. Peabody entered bankruptcy just under one year ago, on April 13, 2016. Declining demand certainly squeezed coal producers, but other factors were also important. Several regulations introduced by the Obama administration provided major pressure
With a proposed ~$4 billion investment in wind generation starting now, Xcel Energy wants to make wind 35% of its total energy mix by 2021 Xcel Energy (ticker: XEL) announced what it called the largest multi-state investment in wind capacity in the country—$3.5-$4.4 billion worth. This week the company said it has proposed 11 new wind farms in seven states,
Australian battery firm says no you can’t From Utility Dive Tesla is in talks with officials in South Australia to install battery storage systems that could serve as protection against the blackouts that have been plaguing the Australian state, according to multiple media reports. At a launch for Tesla’s second generation, commercial scale Powerpack 2, Lyndon Rive, who now heads the
From The Pittsburgh Business Times Cranberry Township-based Westinghouse Electric Co. could be sold by Toshiba Corp. after a $6 billion loss from its nuclear business following an acquisition has shaken its parent company. The Japan Times reported on comments from a news conference Tuesday where Toshiba President Satoshi Tsunakawa said the Tokyo-based company has potential buyers for its controlling stake in Westinghouse. That could include Chinese- or South
Duke Energy’s Proposed Duke University NatGas Plant Finds Opposition Four former Duke environmental deans say new Duke gas plant sends a ‘dangerous signal’, say they prefer a solar farm; trustees May meeting will consider the issue From the Herald-Sun DURHAM — Nearly two dozen environmental and community groups have voiced their opposition to a proposed Duke Energy natural gas plant at
Residential and commercial power deliveries up >30% from last year In its Natural Gas Monthly released today, the EIA outlined U.S. natural gas production and consumption for December 2016. Natural gas production in December decreased slightly compared to November 2016, and represented a 3.7% decrease from production levels for December 2015. Consumption was the second highest in December in the last 15
Additions split between natural gas, wind, solar The EIA reported yesterday that the U.S. net electric generating capacity in 2016 increased by the largest amount since 2011. 27 gigawatts of generating capacity was added in 2016, the largest amount of added capacity since 2012. This addition offset the retirement of 12 GW of capacity, resulting in a net gain of
Re-Regulation, Diverse Portfolio Standards Possible Solutions A study released today found states around the country are continuing to advance innovative strategies aimed at keeping coal and nuclear power plants online in organized markets despite stiff challenges in federal court and at the Federal Energy Regulatory Commission. Natural gas-fired power plants are also at risk of closure and bankruptcy in organized markets, the
From Forbes The largest coal power plant in the western United States, the Navajo Generating Station near Page, Arizona, may shut down soon due to low natural gas prices, the plant’s operators report. The struggles of the power plant illustrate the changing economics of power generation and new opportunities provided by affordable, low-emissions natural gas. According to the Salt River
November electric power deliveries 2nd highest since EIA began tracking them In its Natural Gas Monthly released today, the EIA outlined U.S. natural gas production and consumption for November 2016. Natural gas production increased 2.2% over October 2016 levels, but represented a decrease of 3.1% from production levels for November 2015. Additionally, consumption for November was down to the lowest
From Albawaba Business GE has further strengthened its collaborations in Iraq to support the country’s power infrastructure, and to meet the growing need for electricity from people and industry. GE signed agreements that will add over 2 gigawatts (GW) of power, and secure the delivery of 1.75 GW of existing power to the national grid, to strengthen the nation’s power infrastructure.
A boost for clean coal from the Trump administration, more expensive natural gas, or both – what’s coming coal’s way in 2017? A few minutes after President Trump’s inauguration last Friday, the White House posted a memo that outlined the new president’s intentions as to the direction his administration would take regarding energy policy. The new administration’s energy memo called for
