Electric utilities
Assemblyman Michael N. Gianaris has been left steamed after experiencing a week of taking ice-cold showers during the Queens blackout, a disappointing situation exacerbated by his baseball game being interrupted by the power failure. Meanwhile, he was also faced with a generic recording from Consolidated Edison that seemed to dismiss
Electric utilities
Mayor Michael R. Bloomberg's decision to cancel a trip to Ireland and pressure Consolidated Edison into granting instant reimbursements to those affected by the power failure in Queens has done little to soothe the mounting hostility of residents and businesses. As the crisis continues, Bloomberg has hinted that
Electric utilities
As consumers in the United States face high gas prices near $3 a gallon and looming summer air-conditioning bills, energy companies are poised to spend lavishly on acquisitions. President Bush has nominated Henry M. Paulson Jr., a Wall Street banker, to succeed John W. Snow as Treasury secretary, citing Paulson&
Electric utilities
In the midst of skyrocketing fuel costs and environmental concerns, the solar energy sector is witnessing a surge in demand. With a growth rate of 20-25% per year over the past 20 years, the photovoltaic (PV) solar industry has expanded globally, generating over $3-4 billion in revenue. Solar EnerTech Corp.
Electric utilities
As part of the £4.2 billion deal for National Grid to acquire Brooklyn-based gas supplier KeySpan, Robert Catell, the chairman and founder of KeySpan, is set to receive a handsome payout of $27 million in cash. This amount is in addition to the $82 million in stock value that
Electric utilities
Britain's National Grid, the owner of the country's gas and electricity transmission networks, has made a significant move in the US energy market with its acquisition of KeySpan, a leading gas distributor in the north-eastern US. The move marks National Grid's fifth US takeover
Electric utilities
Rising profits and shrinking loan losses have left European and U.S. banks with a surge in lending opportunities, contributing to record-low borrowing costs for utilities. German energy giant E.ON is among the beneficiaries, with plans to pay for the acquisition of Spanish utility Endesa using debt. The deal,
Electric utilities
German utility company E.ON has offered to purchase Spanish energy firm Endesa for €29.1 billion, surpassing a hostile bid from Gas Natural. The offer, which is worth $34.7 billion, represents a cash payment of €27.50 per share, a significant increase from Endesa's closing price
Electric utilities
China's top five power generators, Datang, Huaneng, Huadian, Guodian, and China Power, have finally reached an agreement to contract power coal deals with domestic coal-mining companies for a total of 103 million tons. The negotiations, held in Jinan, Shandong province, lasted for eight days, from January 1-10, but
Electric utilities
As Japan moves to streamline its nuclear fuel cycle, major power companies have announced plans to use the plutonium that will be recovered from spent nuclear fuel at a reprocessing plant in Aomori Prefecture. The power companies aim to start using the reprocessed fuel in 16 to 18 nuclear power
Electric utilities
As the largest owner of natural gas-fired power plants in the US, Calpine Corp. has filed for Chapter 11 bankruptcy protection, effectively ending its major ambitions to expand in Florida and other states. The San Jose-based company is the latest in a string of independent power producers to go bankrupt,
Electric utilities
Calpine Corporation, a major player in the energy sector, has filed for Chapter 11 bankruptcy protection in the United States, and its Canadian subsidiaries will follow suit by filing under the Canadian Companies' Creditors Arrangement Act. This move affects Calpine Power Income Fund, an unincorporated open-ended trust that invests
