Electric utilities
TECO Energy, Inc. announced a 17% increase in third-quarter earnings, up from 47 cents in 1994 to 55 cents per share in 1995. Chairman and Chief Executive Officer Timothy L. Guzzle attributed the success to strong cash flows supporting business growth, including a large construction project in Polk County. The
Electric utilities
Shareholders of Pennsylvania Enterprises, Inc. and its principal subsidiary, Pennsylvania Gas and Water Company, have approved the sale of PG&W's water operations to Pennsylvania-American Water Company, a wholly owned subsidiary of American Water Works Company, Inc. This approval marks a significant step towards finalizing the transaction,
Electric utilities
Itron, a leading supplier of energy information and communications solutions, has announced a $62 million contract with Public Service Co. of Colorado (PSCo) to expand its automatic meter reading (AMR) system. This expansion will include the installation of an additional 1 million ERT(R) radio meter modules, bringing the total
Electric utilities
The deregulation of electricity markets is gaining momentum, with policymakers facing a choice between facilitating this change or being overtaken by the market. Richard C. Green, Jr., chairman and president of UtiliCorp United, pointed out that consumers in California are paying high rates for electricity, while cheaper power is available
Electric utilities
The proposed merger of Baltimore Gas & Electric Company (BGE) and Potomac Electric Power Company (PEPCO) is expected to result in some modest credit strengthening within existing rating categories for both companies, according to Duff & Phelps Credit Rating Co. The merger would create a new electric and gas utility,
Electric utilities
The Montana Power Company (NYSE: MTP) has elected two out-of-state business persons to its Board of Directors, marking a departure from its long-standing tradition of having only Montanans serve on the board. Daniel T. Berube, chairman and CEO of MPC, stated that the decision is aimed at broadening the board&
Electric utilities
Atlanta Gas Light Company has received final approval from the Georgia Public Service Commission to proceed with its proposed $41 million refund to customers in Georgia, marking a significant benefit for the average residential customer, who will receive an amount of just over $23 as a credit on their September
Electric utilities
PECO Energy Company, a leading energy provider in Philadelphia, has proposed a merger with PP&L Resources, Inc., in a stock-for-stock transaction valued at $24 per PP&L Resources share, according to a letter sent to the Chairman of PP&L Resources. The proposed merger, which would
Electric utilities
MidAmerican Energy Company, the largest utility in Iowa, announced a significant increase in its second-quarter earnings, driven by increased electric and natural gas sales, lower nuclear generation costs, and the sale of nonregulated investments. The company's earnings for the three months ended June 30, 1995, were $24.9
Electric utilities
PacifiCorp, a Portland-based energy company, reported its second quarter 1995 earnings, highlighting the challenges it faces in the dynamic energy market. Despite a decline in wholesale revenues due to increased competition, surplus hydro generation, and low natural gas prices, the company was able to reduce its fuel expense and maintain
Electric utilities
The New York State Public Service Commission approved a stipulated agreement that enables Orange and Rockland Utilities (O&R) to implement an immediate 1.8 percent electric rate reduction, eight months ahead of its originally proposed timeline. This decision marks a significant milestone in O&R's
Electric utilities
Minnesota Power, a diversified energy company headquartered in Duluth, Minnesota, has declared regular quarterly dividends on its outstanding common and preferred stock. The company's board of directors has maintained the dividend on common stock at 51 cents per share, unchanged from the previous quarter. This annual dividend translates
