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January 14, 2011
PSEG Power Selling Texas Gas-fired Assets PSEG Power has agreed to the sale of its Texas generating assets, consisting of two 1,000 megawatt gas-fired combined cycle generating units which will be sold in two separate transactions. The Odessa facility in West Texas will be sold, pursuant to an asset…
January 6, 2011
The New England Power Generators Association, Inc. alleged that the merger of Nstar and Northeast Utilities will harm competitive energy markets, in a motion for intervention at the Massachusetts DPU (Docket 10-170).
January 4, 2011
Constellation Energy has completed a $1.1 billion agreement to purchase the 2,950-megawatt Boston Generating fleet in New England.
December 31, 2010
Constellation Energy yesterday announced it has signed an agreement to sell the 550-megawatt Quail Run natural gas plant in west Texas to High Plains Diversified Energy Corporation (HPDEC) for $185.3 million. The agreement is contingent upon HPDEC obtaining financing through the sale of municipal…
December 23, 2010
FERC has approved Constellation Energy's acquisition of the portfolio of Boston Generating, dismissing conditions sought by Nstar and finding that the acquisition will have no adverse effect on competition (EC10-85).
December 21, 2010
An initial decision from two Pennsylvania ALJs would accept without modification a non-unanimous stipulation which would approve the merger of FirstEnergy Corp. and Allegheny Energy (A-2010-2176520 et. al.).
December 9, 2010
Algonquin Power & Utilities Corp. (APUC) today announced that Liberty Energy Utilities Co., APUC's regulated utility subsidiary, has entered into agreements to acquire all issued and outstanding shares of Granite State Electric Company and EnergyNorth Natural Gas Inc. from National Grid USA for…
December 8, 2010
AGL Resources has entered into an agreement to purchase Nicor Inc. for $2.4 billion, in a transaction that would create a combined firm with over 1 million unregulated retail customers.
December 2, 2010
FirstEnergy Corp., Allegheny Energy, and several intervenors have filed a non-unanimous stipulation in Maryland that would provide for the approval of the merger of FirstEnergy and Allegheny with several conditions (Case 9133).
November 24, 2010
Dynegy shareholders rejected a $605 million bid from The Blackstone Group to acquire the independent power producer, which also stops NRG Energy's planned acquisition, at least as originally envisioned, of what would have been several of the newly acquired plants from Blackstone.
November 10, 2010
Sempra Energy's commodity operations recorded a loss of $134 million in the third quarter of 2010, compared with earnings of $75 million in the third quarter of 2009.
November 8, 2010
Mirant reported adjusted net income of $86 million for the third quarter of 2010, versus $238 million a year ago, on lower realized value of hedges, lower energy gross margins from proprietary trading activities, lower contracted and capacity revenues, and higher operating costs primarily because of…
November 8, 2010
IDT Corporation's Board of Directors has directed management to pursue a spin-off of its Genie Energy division, which includes competitive retail supplier IDT Energy.
November 1, 2010
NextEra Energy Resources reported third quarter net income on a GAAP basis of $386 million, compared with $212 million in the prior-year quarter. On an adjusted basis, NextEra Energy Resources' earnings were $267 million, compared with $241 million a year ago.
October 29, 2010
PPL's Supply unit reported higher earnings from ongoing operations of $260 million in the third quarter, versus $124 million a year ago, on higher realized prices for its Eastern baseload generation.
October 28, 2010
Customer migration away from Basic Generation Service negatively impacted PSEG Power earnings by $5 million in the third quarter versus the year-ago period, parent PSEG reported yesterday.
October 27, 2010
EDF S.A. and Constellation Energy announced that the companies have reached a comprehensive agreement that restructures the companies' partnership, eliminates the outstanding put option, and establishes the full ownership of UniStar Nuclear Energy by EDF. The comprehensive agreement was approved by…
October 26, 2010
FirstEnergy Corp., Allegheny Energy, and a total of 18 parties have filed a non-unanimous stipulation that would resolve the companies' merger proceeding before the Pennsylvania PUC (A-2010-2176520). Signatories include the Office of Trial Staff, Office of Consumer Advocate, three industrial…
October 25, 2010
Exelon's Generation unit reported adjusted earnings of $499 million for the third quarter of 2010, versus $504 million a year ago, on lower energy gross margin largely due to lower energy prices under the power purchase agreement with PECO and higher nuclear fuel costs.
October 20, 2010
EDF Trading has purchased a minority interest in Champion Energy Services, LLC and has expanded its existing supply arrangement with Champion.
October 19, 2010
Northeast Utilities and Nstar yesterday announced that both companies' Boards of Trustees have unanimously approved a definitive stock for stock "merger of equals."
October 18, 2010
Constellation Energy has offered to sell its 50% stake in UniStar to EDF for $1, but refused to link the sale to Constellation waiving its ability to exercise a put option which would require EDF to purchase a dozen Constellation plants for $2 billion.
October 14, 2010
EDF has offered to buy Constellation Energy's 50% share of nuclear venture UniStar at "fair market value," but only if Constellation does not exercise a put option that would compel EDF to buy a dozen plants from Constellation for $2 billion. Most of the plants are coal-fired.
October 13, 2010
Pennsylvania Governor Edward Rendell yesterday called on the Pennsylvania Public Utility Commission to deny the merger application of FirstEnergy Corp. and Allegheny Energy, warning that the proposed transaction could harm competition in electricity markets at a time when prices are rising, while…
October 11, 2010
Constellation Energy on October 8 informed the U.S. Department of Energy that it cannot move forward with the loan guarantee process regarding UniStar Nuclear Energy's Calvert Cliffs 3 loan guarantee application because, "the proposed terms and conditions are unworkable."
