Utility companies face a variety of unique accounting and financial reporting challenges. Whether you're a financial professional in the industry, or an analyst following the sector from the outside, this program will give you a more nuanced perspective.
Carbon dioxide is filling up courtrooms and boardrooms - even as the Environmental Protection Agency seeks to cut its release into the atmosphere. The debate centers on the EPA's Clean Power Plan, set to be finalized this summer.
GE will supply Con Edison Development (CED) with an 8-MWh battery energy storage system in Central Valley, CA. The new storage solution will utilize GE's Mark VIe-based plant control system, Brilliance MW Inverters, and packaged lithium ion battery modules. The system will provide two MW of power over a four-hour period, and the deal includes delivery of a complete energy storage system, with associated long-term service agreements.
The California Public Utilities Commission (CPUC) imposed the largest penalty it has ever assessed by ordering Pacific Gas and Electric (PG&E) shareholders to pay $1.6 billion for the unsafe operation of its gas transmission system, including the pipeline rupture in San Bruno, Calif., in 2010.
Alstom Grid was awarded a $23 million contract to supply the first 500 kV substation for Empresa de Energía de Bogotá (EEB). The substation will be located at Gachanzipa, 30 km north from Bogota, capital city of Colombia. It will connect the Hydro Sogamoso power plant to Bogota, improving and increasing the reliability of the city's energy system. The project is due to be completed by mid-2017. Alstom will deliver the 500-kV turnkey substation, inclusive of design, civil works construction, erection and commissioning.
Phoenix Energy's joint venture, North Fork Community Power's project was awarded a $4.9 million grant. The award will be used to construct one of the first forest-sourced biomass gasification plants, as well as research into the field of forest biomass utilization. The plant will utilize local forest biomass sustainably sourced from restoration and fuel reduction activities on local forest lands, including the Sierra National Forest.
SunEdison signed agreements to construct and install three new utility-scale solar power plants in southern Utah with a total capacity of 262 MW. PacifiCorp will purchase the electricity through three 20-year PPA according to its obligation under the federal Public Utilities Regulatory Policies Act. The three solar power plants are located in Iron County in southern Utah, and include the 63-MW Granite Mountain Solar West plant, the 100-MW Granite Mountain Solar East plant and the 99-MW Iron Springs Solar plant.
Duke Energy completed the sale of its non-regulated Midwest Commercial Generation Business to Dynegy for $2.8 billion in cash. The transaction includes ownership interests in 11 power plants and Duke Energy Retail Sales, the company's retail business in Ohio. The non-regulated Midwest generation business sold to Dynegy includes 11 merchant power plants in Ohio, Illinois and Pennsylvania with a capacity of approximately 6,100 MW. The company began the process to exit its non-regulated Midwest Commercial Generation Business in February 2014.