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☆ Bank of America sees opportunity in dividend stocks. Here are a few names it's highlighting
▼ + stars: | 2024-03-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Select dividend stocks could help boost investors' portfolio returns as the U.S. economy continues to improve, according to Bank of America. Investors should seek out companies with above-market dividend yields that are secure, not stretched, Subramanian advised. Among the energy names on the list is Chevron , which has a 4.2% dividend yield. The stock has an average rating of overweight and 14% upside to the average analyst price target, according to FactSet. Meanwhile, with Fifth Third Bancorp , investors can enjoy a 3.8% dividend yield.

Persons: Savita Subramanian, Subramanian, Russell, Michael Wirth, CNBC's Organizations: Bank of America, Investors, Chevron, American Electric Power, Consolidated Edison, Utilities, Fifth Third Bancorp, Bancorp, Essex, Hotels, Resorts Locations: U.S

Analysts are boosting earnings estimates on a collection of stocks set to report quarterly results next week, which could signal strong momentum ahead. Fourth-quarter earnings have so far been better-than-expected, with technology stocks including Meta Platforms and Amazon outperforming analyst estimates and helping lift the S & P 500 to a new all-time highs. Still, some companies set to report quarterly results next week are also seeing analysts increase their profit forecasts, adding potential momentum to those companies' stock performance. EPS estimates have increased by about 4% on average over the same time period. Akamai stock hit a new 52-week high on Thursday.

Persons: Raymond James, Srini, Piper Sandler, Akamai, James Fish Organizations: Meta, Amazon, CNBC, Applied, Akamai Technologies, Howmet Aerospace, New, Consolidated Edison Locations: New York

☆ Natural-Gas Pipelines Are Old. Will Regulators Let Utilities Invest in Them?
▼ + stars: | 2023-11-25 | by ( Katherine Blunt | ) www.wsj.com time to read: 1 min

ConEd is evaluating how much it needs to spend to safely maintain parts of its gas system amid an expected decrease in usage over time. Photo: Jeenah Moon/Bloomberg NewsUtilities across the country are trying to boost spending to maintain aging natural-gas pipelines. Regulators in some Democratic states seeking to limit gas use are saying not so fast. Companies including PG&E , Consolidated Edison and Public Service Enterprise Group have proposed investing billions of dollars to bolster their pipeline networks, which will remain in use for years even as more customers use electricity to cook and heat their homes. They say such spending is necessary in part to maintain safety and reliability as they work to shrink their gas systems over time.

Organizations: Bloomberg News Utilities, Consolidated Edison, Public Service Enterprise Group

☆ Two-thirds of North America could face power shortages this winter -NERC
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

In its 2023-24 winter outlook, the regulatory authority warned that prolonged, wide-area cold snaps threaten the reliability of bulk power generation and availability of fuel supplies for natural gas-fired generation. "Recent extreme cold weather events have shown that energy delivery disruptions can have devastating consequences for electric and gas consumers in impacted areas," NERC said. It put the U.S. Midwest, Northeast, Mid-Atlantic, and South, along with some Canadian provinces, at the highest risk for electricity supply shortages this winter. NERC also found that load forecasting in winter is growing in complexity, and underestimating demand is a risk to reliability in extreme cold temperatures. Flows of gas into pipelines were reduced during Elliott, while demand for the fuel for heating and power generation increased, dramatically lowering line pressures.

Persons: Greenlee Beal, NERC, John Moura, Storm Elliott, Elliott, Anjana Anil, Scott DiSavino, Leslie Adler, Marguerita Choy Organizations: PIKE Energy, REUTERS, North American Electric Reliability Corp, U.S ., PJM, Reliability Corp, Texas, Federal Energy Regulatory, Storm, Consolidated Edison, Thomson Locations: Texas, San Antonio , Texas, U.S, Canada, U.S . Midwest, Northeast, South, New England, MISO , New York, New York City, Bengaluru, New York

☆ These utilities can withstand the pain as higher interest rates weigh on the sector, says Bank of America
▼ + stars: | 2023-10-24 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Utilities, beloved for their dividend payments, are under pressure in today's high rate environment, but a few gems stand out in the tarnished sector, according to Bank of America. The sector has suffered through 2023, shedding 16%, as the Federal Reserve continues to roll out its policy-tightening campaign. But there are a few opportunities in the sector, even as Bank of America says utilities aren't particularly compelling now. Both are also deemed top buys by Bank of America. PG & E has a California rate case development coming on Nov. 2, when the California Public Utilities Commission will be meeting.

Persons: Julien Dumoulin, Smith, ConEd, Michael Bloom Organizations: Bank of America, Federal Reserve, Consolidated Edison, E Corporation, PPL Corporation, California Public Utilities Commission, Kentucky Public Service Commission, PPL Locations: California, Kentucky

☆ Higher rates are killing the clean energy stocks — BofA says these are worth buying
▼ + stars: | 2023-10-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

There's still value to be found among renewable energy stocks despite a rout, according to Bank of America. Leading renewable stock NextEra Energy Partners trimmed its growth forecast earlier this week, sparking a sell-off in the cleantech sector that has lasted for several days. Its stock tumbled about 27% so far this week, while its parent NextEra Energy is down 15% during the same period. BofA analyst Julien Dumoulin-Smith said the event has caused a "collapse in confidence" in NextEra and stoked fears that higher rates will dampen demand for renewable energy projects. ConEd stock has slipped about 12% from the start of the year, while shares of Array are down nearly 2%.

Persons: Julien Dumoulin, Smith, BofA, ConEd, — CNBC's Michael Bloom Organizations: Bank of America, Energy Partners, Energy, PPA, Utilities, NextEra Energy, Technologies, Consolidated Edison, NXT, ConEd Locations: NextEra, Dumoulin

☆ Climate change turns US utilities grimly exciting
▼ + stars: | 2023-08-31 | by ( Robert Cyran | ) www.reuters.com time to read: +6 min

A hotter and stormier world is making life unpleasantly exciting for shareholders, as Hawaiian Electric Industries (HE.N) shows. Yet while European firms have buried power lines underground to avoid damage from storm and fires, American utilities have generally balked. The firm said a second fire began in the same area several hours later, after the utility had turned off local power lines. Separately, Hawaiian Electric Industries, the parent company of Hawaiian Electric, said on Aug. 24 it had suspended its dividend. The company said HEI had withdrawn $170 million and Hawaiian Electric had withdrawn $200 million from their existing revolving unsecured credit facilities to strengthen their balance sheets.

Persons: Joe Biden, Jill Biden, Josh Green, Jaime Green ,, Lady of, Kevin Lamarque, HEI, Fitch, Lawrence, Peter Thal Larsen, Sharon Lam, Aditya Sriwatsav Organizations: Hawaii, REUTERS, Reuters, Hawaiian Electric Industries, United, Utilities, Hurricanes, Lawrence Berkeley National, Edison International, Consolidated Edison, Dow, Maui, Hawaiian Electric, Electric, Thomson Locations: Lady of Hawaii, Lahaina, Maui, Hawaii, U.S, United States, Americas, Europe, Alaska, California, New York, Arkansas , Louisiana, Texas

☆ Equitrans US Mountain Valley natgas pipe on track for end 2023 completion
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Lengths of pipe wait to be laid in the ground along the under-construction Mountain Valley Pipeline near Elliston, Virginia, U.S. September 29, 2019. REUTERS/Charles Mostoller/File PhotoAug 1 (Reuters) - U.S. energy company Equitrans Midstream (ETRN.N) on Tuesday said it still expects to complete the Mountain Valley natural gas pipeline by the end of the year despite being tangled in numerous court fights since construction began in 2018. Mountain Valley is key to unlocking gas supplies from Appalachia, the nation's biggest shale gas-producing basin in Pennsylvania, Ohio and West Virginia. When Mountain Valley started construction in February 2018, Equitrans estimated the 2.0-billion cubic feet per day project would cost about $3.5 billion and enter service by late 2018. The 303-mile (488-kilometer) Mountain Valley project is owned by units of Equitrans, the lead partner building the pipe with a roughly 48.3% interest, NextEra Energy (NEE.N), Consolidated Edison (ED.N), AltaGas (ALA.TO) and RGC Resources (RGCO.O).

Persons: Charles Mostoller, Thomas Karam, Scott DiSavino, Marguerita Choy Organizations: REUTERS, U.S, Supreme, U.S ., Equitrans, NextEra Energy, Consolidated Edison, RGC Resources, Thomson Locations: Elliston , Virginia, U.S, West Virginia, Virginia, Appalachia, Pennsylvania , Ohio, U.S . Congress

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ Here are Friday's biggest analyst calls: Nvidia, Amazon, Carvana, Roku, Microsoft, Eli Lilly and more
▼ + stars: | 2023-07-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Truist reiterates Amazon as buy Truist said it's bullish heading into Amazon earnings Aug. 3. Piper Sandler upgrades SL Green to overweight from neutral Piper Sandler said in its upgrade of SL Green that the real estate investment trust has "favorable tailwinds." Piper Sandler downgrades Discover to neutral from overweight Piper Sandler said in its downgrade of the credit card company that it sees too many negative catalysts. Piper Sandler downgrades Carvana to neutral from overweight Piper Sandler downgraded the online used-car company mainly on valuation. Sirius' stock price has more than doubled over the past month and increased 42% yesterday alone.

Persons: . Bank of America downgrades Herc, Herc, Underperform, KeyBanc, it's, Truist, Piper Sandler, Piper Sandler downgrades Carvana, JPMorgan downgrades Blackstone, Morgan Stanley, Eli Lilly, Davidson, Davison, Oppenheimer, Baird, Wedbush, Goldman Sachs Organizations: . Bank of America, . Bank of America downgrades Herc Holdings, Bank of America, Hollywood, NA, Green, DFS, JPMorgan, Novo Nordisk, BMO, Consolidated Edison, of America, Deutsche Bank, Sirius, Nvidia, Microsoft Locations: 2Q23

☆ Biden, McCarthy debt deal would speed up Mountain Valley gas pipeline
▼ + stars: | 2023-05-29 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. REUTERS/Leah MillisWASHINGTON, May 28 (Reuters) - U.S. energy company Equitrans Midstream Corp's (ETRN.N) long-delayed $6.6 billion Mountain Valley natural gas pipeline could win federal approval as part of Washington's debt limit deal. The pipeline is backed by Democratic West Virginia Senator Joe Manchin, whose vote is often needed since the Democrats hold a thin majority in that body. The pipeline, which would unlock gas supplies from Appalachia, the country's biggest shale gas basin, still needs review and permitting including in West Virginia. Mountain Valley is owned by units of Equitrans, NextEra Energy Inc (NEE.N), Consolidated Edison Inc (ED.N), AltaGas Ltd (ALA.TO) and RGC Resources Inc (RGCO.O).

☆ Morning Bid: Hike and hold, bank angst and Apple
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +5 min

As the Fed delivered what markets assume will be the last rate hike of a brutal 13-month, 500-basis-point tightening cycle, further aftershocks from the March bank blowups reverberated in the background. And given they had advance knowledge of next week's quarterly loan survey before Wednesday's rate decision, it suggests the bigger picture they see remains somewhat equivocal. Norway's central bank raised interest rates as expected and signalled more to come. Events to watch for on Thursday:* European Central Bank policy decision, statement and news conference* U.S. first quarter unit labor costs and productivity, April layoffs, March trade balance, weekly jobless claims. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Roll the Dice, Save Gotham From Climate Catastrophe!
▼ + stars: | 2023-04-21 | by ( Alyson Krueger | ) www.nytimes.com time to read: +1 min

A race against time — or, rather, global warming wrought by fossil fuels — the game invites four players to work together to decarbonize New York City by 2035. The challenge is rooted in reality, said Stephen Wemple, general manager of the Utility of the Future team at Con Ed, the city’s largest utility company. Kathy Hochul has mandated that 70 percent of New York State’s energy must be renewable by 2030, and 100 percent by 2040. Currently, renewable energy percentages are in the “high 20s,” he said. Energetic is the brainchild of Richard Reiss, a fellow at the Institute for Sustainable Cities at Hunter College and the founder of City Atlas, an online resource about New York City’s transition to green energy.

☆ Beware of these S&P 500 stocks expected to struggle
▼ + stars: | 2023-03-19 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

Investors may want to consider dumping some stocks expected to underperform going forward, especially as market volatility remains elevated. Bleach maker Clorox made the list with an average analyst rating of underweight. The transportation stock has an average rating of hold, and 25% of analysts covering it rate it as sell. The average analyst price target on C.H. Other stocks that made our list are Pinnacle West Capital , Expeditors International of Washington , Consolidated Edison and T. Rowe Price .

REUTERS/Nathan Frandino//File PhotoNEW YORK/HOUSTON, March 10 (Reuters) - Corporations and investors have been pouring money into renewable energy projects, seeing an opportunity to grasp the Holy Grail of socially conscious investing: do good while doing well. But sharply higher interest rates have further stressed a model strained by soaring prices for steel and silicon, vital for wind turbines and solar panels. Higher costs have buyers and sellers of renewable power projects recalculating potential returns, hampering fundraising and mergers and acquisitions (M&A). A decade of low interest rates meant borrowers could raise cheap debt to build projects and juice returns. Financial investors traditionally took stakes in operating renewables projects to avoid risks of construction delays and ensure stable returns.

☆ Morning Bid: Growth trumps rates
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +6 min

While there were some questions about seasonal adjustments in the data, economists were impressed that sales growth was pretty broad based and have scrambled to re-crunch first quarter U.S. output forecasts as a result. There may be a more mixed picture from Thursday's data slate on producer prices, housing starts and weekly jobless claims. Even though rates futures and Treasury yields ticked back a bit today, pricing now has Fed policy rates moving as high as 5.25% and staying above 5% all year. And while full-year earnings growth estimates for S&P500 companies have sunk to zero, consensus forecasts are now pencilling in a rebound of almost 12% next year. Uncertainty about the pace of growth and annual tax receipts in April makes it difficult for government officials to predict the exact "X-date", it said.

☆ Defensive Stocks Become Hideout for Investors in a Rocky Market
▼ + stars: | 2022-12-29 | by ( Hannah Miao | ) www.wsj.com time to read: 1 min

Defensive sectors such as consumer staples have been resilient amid this year’s turmoil in the stock market, easily outperforming the S&P 500. In a year of stock market turmoil, investors have flocked to trusted safety plays. Shares of utility, consumer-staples and healthcare companies have weathered the storm better than most of the market this year. Consolidated Edison Inc., Campbell Soup Co. and Merck & Co. Inc. are among the standouts, each rallying double-digit percentage points in 2022.

☆ Beware these stocks: Analysts see a rough year ahead for these companies
▼ + stars: | 2022-12-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

CNBC Pro looked at stocks that are poised to lose the most in 2023 based on the average analyst price target, according to FactSet. Asset manager Franklin Resources has the most downside next year, set to lose 12%, according to the average analyst price target on FactSet. Also making the list is food giant General Mills , which has nearly 8% downside to the average analyst price target. The stock has nearly 7% downside to the average analyst price target, per FactSet. Lastly, Etsy has nearly 4% downside to the average analyst price target.

☆ Morning Bid: Slower, higher, longer
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in U.S. and global markets from Mike Dolan. U.S. Treasury yields are on the rise again as Fed rate futures now expect a terminal rate as high as 5.15% by May, with pricing for end-2023 rates just shy of 5% too - half a point higher than where futures had priced the terminal rate just one month ago. European Central Bank President Christine Lagarde said the ECB must be "attentive" to Fed policy decisions as it influences global markets - but it cannot just mirror moves in Washington. In banking, Morgan Stanley is expected to start a new round of layoffs around the world over the coming weeks. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ These 13 sell-rated global stocks have serious downside risk, Wall Street analysts say
▼ + stars: | 2022-10-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Equity analysts have slashed estimates and price targets over recent days as companies continue to report disappointing third-quarter results. Thirteen of these stocks — all part of the MSCI World Index — have median analyst price targets below their current share price, according to FactSet data. Global stocks Other stocks with price targets below current trading levels include Japanese multinational retailer AEON , U.S.-listed Clorox , and U.K. financial services company Abrdn plc. Equity analysts have slashed estimates and price targets over recent days as companies continue to report disappointing third-quarter results. Thirteen of these stocks — all part of the MSCI World Index — have median analyst price targets below their current share price, according to FactSet data.

☆ Sierra Club says Mountain Valley Pipeline to give up on N. Carolina extension
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

Oct 21 (Reuters) - U.S. environmental group the Sierra Club said on Friday that the Mountain Valley Pipeline (MVP) is abandoning legal efforts in North Carolina to secure land necessary for its proposed Southgate extension. Were it completed, the Southgate project would have added 75 miles (121 km) of pipeline from Southern Virginia into central North Carolina, the statement by Sierra Club read, adding that without the land, the extension is unlikely to ever be built. Mountain Valley - owned by units of Equitrans (ETRN.N), NextEra Energy Inc (NEE.N), Consolidated Edison Inc (ED.N), AltaGas Ltd (ALA.TO) and RGC Resources (RGCO.O) - is one of several U.S. pipeline projects delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits issued during President Donald Trump's administration. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Seher Dareen in Bengaluru; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Electric bills hit $50,000 for California mansion owners amid heat waves and high supply costs for power companies
▼ + stars: | 2022-09-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Mega mansions cost their owners between $10,000 and $50,000 in electric bills, reports say. A record-breaking $141 million mansion known as "the costliest house sold at auction," has monthly electric bills estimated at around $50,000. California's San Diego Gas & Electric raised its rates due to higher supply costs, and the new bills cost residents nearly 12% more than last year on average, the Wall Street Journal reported. Castillo said those hoping to cut down on electricity bills should focus more on their A/C units instead of turning off lights and appliances. In the LA Times report, he said that makes up 70% of electric bills during the summer.

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