DIRS.INFO The most relevant business & tech news

PORTLAND, Ore. (AP) — Federal regulators have approved the expansion of a natural gas pipeline in the Pacific Northwest over the protest of environmental groups and top officials in West Coast states. The Federal Energy Regulatory Commission gave it the green light in a vote on Thursday. The pipeline belongs to TC Energy of Calgary, Canada — the same company behind the now-abandoned Keystone XL crude oil pipeline. The agency’s final environmental assessment revised that number downward by roughly half in calculations contested by environmental groups. In a joint letter to the federal agency the day before its vote, Democratic U.S.

Persons: Senators Ron Wyden, Jeff Merkley, Patty Murray, Maria Cantwell, Washington, ”, Audrey Leonard, Leonard, fracking Organizations: —, Federal Energy Regulatory Commission, TC Energy, Keystone, Federal Energy Regulatory, Democratic U.S, Senators, Columbia Locations: PORTLAND, Pacific Northwest, West Coast, Idaho , Washington and Oregon, Calgary, Canada, Kootenai County , Idaho, Walla Walla County , Washington, Sherman County , Oregon, Idaho, Washington, Oregon, California, Washington , Oregon, California , Oregon

[1/3] Brett Isaac, founder and co-CEO of Navajo Power, attends the first annual Tribal Energy Equity Summit in Saint Paul, Minnesota, U.S., May 22, 2023. Tribes cannot access key incentives for larger clean energy projects until they secure an agreement to connect to the regional electrical grid. That could jeopardize a "once in a lifetime opportunity,” according to Cheri Smith, president of the Alliance for Tribal Clean Energy, a nonprofit that is helping tribes develop clean energy. The Standing Rock Sioux have so far spent $3 million on technical studies and fees to remain in the queue, with no guarantee of approval. A NEW DAYThe Standing Rock Sioux tribe's development authority, called SAGE, proposed the 235MW wind farm three years ago.

Persons: Brett Isaac, Sarah Arnoff Yeoman, Cheri Smith, Smith, Joe McNeil, McNeil, Eileen Briggs, Greg Anderson, Alliance's Smith, Jeremiah Baumann ,, Willie Phillips, Alliance’s Smith, Celeste Miller, It’s, ”, Valerie Volcovici, Richard Valdmanis, Suzanne Goldenberg Organizations: Navajo Power, Tribal Energy Equity Summit, REUTERS, Alliance for Tribal Clean Energy, Reuters, National Renewable Energy Laboratory, Energy Information Administration, SAGE, Dakota, Interior Department, Southwest, Sierra Club Foundation, Wallace Global Fund, Bush Foundation, Moapa, Tesla, Federal Energy Regulatory Commission, Energy, Interior, Infrastructure, DOE, FERC, Thomson Locations: Navajo, Saint Paul , Minnesota, U.S, Sioux, North, South Dakota, United States, Phoenix, Bismarck , North Dakota, philanthropies, Paiute, Nevada, Las Vegas, St, Paul , Minnesota

Hawaiian Electric CEO Shelee Kimura received a cash bonus in 2022 based on her performance against 10 measures including profit and customer satisfaction. Wildfire risk mitigation was not on the list, according to the utility’s pay disclosures. Wildfire risk had been a concern for several years before the blaze ripped through Lahaina, a historic resort town in Maui. Idacorp declined to comment on its pay practices and how they relate to wildfire mitigation. “You don’t want a wildfire disaster to be the catalyst for a change in public policy,” said Glazer, who supports linking executive pay to wildfire mitigation.

Persons: Mike Blake, ”, Alison Silverstein, Shelee Kimura, Kimura, “, Michael Cerasoli, Michael Underhill, Brian Buckham, ” Buckham, Idacorp, Larry Glazer, Glazer, Tim McLaughlin, Tom Hals, Peter Henderson, Noeleen Walder, Rich Valdmanis, Marguerita Choy Organizations: Workers, REUTERS, Hawaiian Electric, U.S . Federal Energy Regulatory, Electric, Hawaii Wildfire Management Organization, San Diego Gas &, Global Renewable Energy Income Fund, Reuters, Capital Innovations, SEC, Portland General Electric Co, Boston’s Mayflower Advisors, Thomson Locations: Lahaina, Maui, Hawaii, U.S, California, Honolulu, Maui ., Idaho , Oregon, Washington, Idaho

☆ Biden administration officials think that Joe Manchin, a key player in crafting the Inflation Reduction Act, has sometimes misinterpreted stipulations of the law, report says
▼ + stars: | 2023-08-20 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Biden admin officials feel that Joe Manchin has sometimes misinterpreted provisions of the IRA. Manchin sees the law as one focused on energy and says Biden wants it to be centered on climate. "This was about energy security and we have not heard a word about energy security out of their mouths since it was passed. His criticism of the White House can only serve to boost his standing in deep red West Virginia, as Biden remains unpopular in the state. But Manchin isn't pumping the brakes on his frustrations with Biden over the implementation of the law.

Persons: Joe Manchin, Manchin, Chuck Schumer, Biden, Sen, Joe Biden's, —, Virginia lawmaker's, Janet Yellen, Hannity, Richard Glick Organizations: Service, West Virginia Democrat, Democratic, White House, Washington, Fox News, Federal Energy Regulatory Commission, Democratic officeholder, Democratic Party, West Locations: Wall, Silicon, Virginia, West Virginia

☆ Lindsey Graham and Elizabeth Warren: We Must Regulate Big Tech - The New York Times
▼ + stars: | 2023-07-27 | by ( Lindsey Graham | Elizabeth Warren | ) www.nytimes.com time to read: +3 min

Big Tech companies also prey on ordinary users. It’s time to rein in Big Tech. In 1975 the Nuclear Regulatory Commission took on nuclear power, and in 1977 the Federal Energy Regulatory Commission took on electric generation and transmission. We need a nimble, adaptable, new agency with expertise, resources and authority to do the same for Big Tech. Our legislation would guarantee common-sense safeguards for everyone who uses tech platforms.

Organizations: Big Tech, Big, Interstate Commerce, Federal Trade Commission, Federal Communications Commission, Regulatory, Energy Regulatory, Consumer Protection, Google Locations: China, Big Tech

☆ A Bottleneck on the Grid Threatens Clean Energy. New Rules Aim to Help.
▼ + stars: | 2023-07-27 | by ( Brad Plumer | More About Brad Plumer | ) www.nytimes.com time to read: +1 min

Federal regulators on Thursday approved new rules to speed up the process for connecting wind and solar projects to the electric grid, in an attempt to reduce the growing delays that have become one of the biggest obstacles to building renewable energy in the United States. Energy companies are investing hundreds of billions of dollars in wind farms, solar arrays and batteries, spurred on by federal tax breaks and falling costs. But these projects face a severe bottleneck: It is getting harder and taking longer to connect new power plants to the power lines that carry electricity to homes and businesses. More than 10,000 energy projects — mostly wind, solar and batteries — were seeking permission to connect to electric grids at the end of 2022, up from 5,600 two years earlier. The new rules by the Federal Energy Regulatory Commission, which oversees electricity markets, aim to streamline that approval process, known as the interconnection queue.

Organizations: United States . Energy, Federal Energy Regulatory Commission Locations: United States

☆ France to raise regulated household electricity prices by 10% from August
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

PARIS, July 18 (Reuters) - The French government has decided to raise regulated household electricity prices by 10% starting from August, a government official said on Tuesday, confirming a report from newspaper Les Echos. The 10% increase is much lower than the one proposed by the French Energy Regulatory Commission (CRE), which - based on current market prices - recommended an increase of 74.5%. In May, Finance Minister Bruno Le Maire said France's cap on electricity prices would be phased out and end at the end of next year. European electricity prices soared last year, mainly driven by the fallout from the war in Ukraine. France also saw record-low nuclear output as state-owned utility EDF (EDF.PA) repairs reactors affected by stress corrosion.

Persons: Les, ”, Bruno Le Maire, France's, Benjamin Mallet, Tassilo Hummel, Charlotte Van Campenhout, Jason Neely Organizations: French Energy Regulatory Commission, Finance, EDF, Thomson Locations: Europe, Ukraine, France

☆ BP settles US natgas market manipulation case for $10.75 million
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

The U.S. Federal Energy Regulatory Commission (FERC) alleged that BP violated the Natural Gas Act by manipulating the next-day gas market at Houston Ship Channel from mid-September through Nov. 30, 2008. BP paid a civil penalty of $24,356,686 in December 2020 and disgorgement of unjust profits of $250,295 in January 2021 in the case. FERC said under the settlement BP will not seek return of the $250,295 of disgorgement it has paid. The case related to actions by BP traders to take advantage of market dislocations around the time Hurricane Ike smashed into the Houston area in September 2008. FERC's Office of Enforcement alleged BP traders made uneconomic physical gas sales to suppress the Houston Ship Channel Gas Daily index and boost the value of BP's financial position.

Persons: Ike, Scott DiSavino, Bill Berkrot Organizations: Bp, BP, U.S . Federal Energy Regulatory Commission, Houston Ship Channel, U.S ., Appeals, Fifth Circuit, FERC, U.S . Court, Federal, FERC's, Enforcement, Houston Ship Channel Gas, Thomson Locations: U.S, Houston

☆ Activist Starboard prepares the groundwork to reduce leverage and build value at Algonquin Power
▼ + stars: | 2023-07-08 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Algonquin Power is a renewable energy and utility company that provides energy and water solutions and services in North America and internationally. Algonquin Power is a utility company based in Canada with most of its assets in the United States. Instead, the acquisition would have added to an already over-leveraged balance sheet, putting Algonquin Power in an even less stable financial position. So, companies like Algonquin Power will close facilities and retire equipment and build new facilities and buy new equipment that can be added back into the rate base. Algonquin Power is a holding in the fund.

Persons: Arun Banskota, Ken Squire, Squire Organizations: Algonquin Power, Algonquin Power's, Kentucky Power, Federal Energy Regulatory, JPMorgan, 13D, Algonquin Locations: Algonquin, North America, Canada, United States, EBITDA

☆ Why the U.S. Electric Grid Isn’t Ready for the Energy Transition
▼ + stars: | 2023-06-12 | by ( Nadja Popovich | Brad Plumer | ) www.nytimes.com time to read: +13 min

Power lines 100KV 345kV 500kV Data reflects the contiguous U.S. Power lines 100KV 345kV 500kV Data reflects the contiguous U.S. Power lines 100KV 345kV 500kV Data reflects the contiguous U.S. Power lines 100KV 345kV Data reflects the contiguous U.S. Power lines 100KV 345kV 500kV Data reflects the contiguous U.S. That makes it hard to build the long-distance power lines needed to transport wind and solar nationwide. To make the plan work, the nation would need thousands of miles of new high-voltage transmission lines — large power lines that would span multiple grid regions. Utilities are sometimes wary of long-distance transmission lines that might undercut their local monopolies. “The grid is already a critical element of our energy system,” said Matteo Muratori, an analyst at the National Renewable Energy Laboratory.

☆ Exclusive: LNG developer Venture Global spars with customers over cargoes
▼ + stars: | 2023-06-09 | by ( Curtis Williams | ) www.reuters.com time to read: +5 min

Italian electric utility company, Edison SpA (EDNn.MI), in May brought an arbitration proceeding against Venture Global over its failure to supply cargoes, Edison's spokeswoman said. Venture Global described the complex at the time of its first cargo shipment last year as holding "the global record for the fastest large-scale greenfield LNG facility to ever be built." Edison and Repsol signed purchase contracts with Venture Global in 2017 and 2018, respectively. That volume irked contract customers who believe Venture Global took advantage of high spot LNG prices at their expense. In its reply to DOE, Venture Global chastised Repsol as an "impatient" customer.

Persons: Shaylyn Hynes, Hynes, Repsol, Portugal's, Edison, Venture Global's Hynes, Curtis Williams, Gary McWilliams, Paul Simao Organizations: HOUSTON, Venture Global LNG, U.S, LNG, Edison SpA, Venture Global, Repsol SA, U.S . Department of Energy, DOE, Venture, Reuters, Edison, Shell, Federal Energy Regulatory Commission, General Electric Co, Thomson Locations: Calcasieu, Spanish, Arlington , Virginia, Cameron Parish , Louisiana, Europe, Russia, Ukraine

☆ Opinion | Congress Is Turning Climate Gaslighting Into Law
▼ + stars: | 2023-06-01 | by ( Jonathan Mingle | ) www.nytimes.com time to read: +2 min

If completed, the Mountain Valley Pipeline will be a very large and long-lived methane delivery device. At the end of the line, the methane will be burned in power plants and furnaces, producing carbon dioxide. But now that wind, solar and battery storage are indeed quite ready and, in many places, cheaper than gas, the jig is up. Though the assertions that the pipeline is necessary and good for the climate defy logic, the political calculus is clear enough. Mr. Manchin was also a supporter of another large gas pipeline that would have originated in his state: the Atlantic Coast Pipeline, which I have been reporting on since 2019.

Persons: Biden, Manchin Organizations: U.S . Energy, Administration, Congressional, Atlantic Coast Pipeline, Federal Energy Regulatory Commission

☆ Opinion | The New Climate Law Is Working. Clean Energy Investments Are Soaring.
▼ + stars: | 2023-05-30 | by ( Brian Deese | ) www.nytimes.com time to read: +4 min

The largest increase is projected to be in industrial and manufacturing activity for hydrogen, carbon capture, energy storage and critical minerals — areas key to long-term energy security. The law did not provide all the necessary tools to achieve national goals for expanding our supply of clean energy. First, lawmakers must make it easier to build clean energy infrastructure in America. The Federal Energy Regulatory Commission should more aggressively clear backlogs preventing clean energy projects from connecting to the grid. Policymakers should consider new incentives to expand energy capacity, like conditioning federal assistance to states and localities that reform land-use policies to allow clean energy development.

☆ Opinion | Speeding Up the Update of Our Electrical Grid
▼ + stars: | 2023-05-14 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “We Desperately Need a New Electrical Grid. Otherwise, America will not be able to decarbonize our grid or our economy. Fortunately, the proposed Streamlining Interstate Transmission of Electricity (SITE) Act would provide F.E.R.C. has decades of experience approving interstate natural gas pipelines. has been more responsive to the legitimate needs of states and other stakeholders when siting pipelines.

May 8 (Reuters) - Vanguard Group, the largest provider of mutual funds, has secured regulatory approval to continue to own big stakes in U.S. power utilities, overcoming Republican concerns over its environmental, social and governance (ESG) policies. Regulators had previously allowed Vanguard to exceed that antitrust limit on the basis that this would not interfere with the utilities' operations. Vanguard countered that its funds do not exert control over the decisions of the utilities. Vanguard reiterated in a statement on Monday that it leaves "management decisions to companies and policy decisions to policymakers." A representative for Indiana Attorney General Todd Rokita, one of the leaders of the group challenging the FERC extension, said he would comment in coming days.

OMAHA, Nebraska, May 6 (Reuters) - Warren Buffett said on Saturday that Berkshire Hathaway Inc (BRKa.N) is not planning to acquire Occidental Petroleum Corp (OXY.N) but remains happy with its large investment in the oil company. Speaking at Berkshire's annual shareholder meeting, Buffett rejected speculation that Berkshire would buy Occidental after having accumulated a 23.6% stake. "We will not be making any offer for Occidental," Buffett said. "Hollub is an extraordinary manager at Occidental," Buffett said. Last August, Berkshire won U.S. Federal Energy Regulatory Commission permission to buy up to 50% of Occidental's common stock.

☆ Amazon is the 500-pound gorilla in a room full of puppies when it comes to corporate buying of wind and solar power
▼ + stars: | 2023-05-06 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

In 2022, Amazon bought 10.9 gigawatts of clean power, making it the largest corporate buyer of renewable power in the world, according to data from the market research company BloombergNEF. It's also more than four times the amount of clean energy that the second-largest purchaser of clean power, Facebook parent company Meta , bought in 2022. Since 2019, Amazon has scaled from having one gigawatt of renewable energy to more than 20 gigawatts of publicly announced renewable power. Amazon is focused on building new wind and solar projects, Daitch told CNBC. But that's really more of a bridging solution and not our core strategy, which is around enabling new wind and solar projects," Daitch said.

☆ Wind and solar power generators wait in yearslong lines to put clean electricity on the grid, then face huge interconnection fees they can't afford
▼ + stars: | 2023-04-06 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +18 min

The local utility in charge of overseeing the interconnection process told Pine Gate it would be more than $30 million. Pine Gate had to terminate the project because it couldn't afford the new fees, its vice president of regulatory affairs, Brett White, told CNBC. "Those projects ended up withdrawing from the queue or terminating, because they don't pencil anymore," White told CNBC. "There is Texas, and then there's the rest of the country with respects to interconnection," White of Pine Gate told CNBC. And that means getting those engineers out of some of the rote manual data entry and into the actual analysis," White told CNBC.

☆ Berkshire Hathaway stake in Occidental Petroleum rises to 23.6%
▼ + stars: | 2023-03-27 | by ( Jonathan Stempel | ) www.reuters.com time to read: +1 min

March 27 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) boosted its ownership stake in Occidental Petroleum Corp (OXY.N) to about 23.6% after buying nearly 3.7 million additional shares. It now owns about 211.7 million Occidental shares worth $12.6 billion based on the oil company's closing price of $59.65 on Monday. In August, Berkshire won U.S. Federal Energy Regulatory Commission permission to buy up to 50% of Occidental's common stock. It also owns $10 billion of Occidental preferred stock with an 8% dividend, plus warrants to buy another $5 billion of common shares at $59.62 each. Berkshire built a 22.6% stake in BNSF before paying $26.5 billion for the remainder in 2010.

☆ Why Blackouts, Power Outages Are Becoming More Common
▼ + stars: | 2023-03-23 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +14 min

Power outages have increased 64% from the early 2000s, and weather-related outages — many driven by the worsening climate crisis — have increased 78%. A record-breaking blizzard in Buffalo, New York, this winter caused power outages throughout the city, resulting in the deaths of 47 residents. In 2021, a heat wave led to power outages and the deaths of hundreds in the Pacific Northwest. While regional organizations might use fees to penalize companies for power outages, it's now much harder to pinpoint and hold a person or entity responsible. In the meantime, the climate crisis will continue to wreak havoc on an aging grid system that puts profits over reliability.

☆ Berkshire Hathaway resumes Occidental purchases, stake reaches 22.2%
▼ + stars: | 2023-03-08 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Berkshire paid about $355 million for 5.8 million Occidental shares between March 3 and March 7, according to the filing. Buffett's company now owns about 200.2 million Occidental shares worth $12.2 billion, based on Tuesday's closing price of $60.85. Berkshire also owns $10 billion of Occidental preferred stock that throws off $800 million of annual dividends, plus warrants to buy another $5 billion of common stock. Occidental ended January with about 900 million shares outstanding. Berkshire ended 2022 with $128.6 billion of cash and equivalents.

☆ U.S. regulators seek more answers from Freeport LNG to weigh restart request
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

Companies Freeport LNG Development LP FollowMarch 6 (Reuters) - U.S. regulators sent another list of questions seeking information to Freeport LNG on Monday, as they evaluate its request to restart full commercial operations of its export facility in Texas. Last month, the privately held LNG export facility, the second-biggest in the U.S., started to exit an eight-month outage that was caused by a fire in June 2022. FERC and the Pipeline and Hazardous Materials Safety Administration (PHMSA) sought answers on operating conditions and steps taken to improve safety. The request asked for "a status update on Freeport LNG’s hiring efforts to address operator fatigue and training status of the new hires," according to FERC's letter to Freeport. The fiery blast that knocked the facility offline last June resulted from inadequate operating and testing procedures, operator fatigue and other shortcomings, a review found.

MADRID/PARIS/STOCKHOLM, March 2 (Reuters) - France and Spain are poised to announce a breakthrough this week in a long-running impasse over hefty costs of what would be their first undersea electricity link, a minister and sources in both countries told Reuters. That was due to unforeseen seabed instability on the French side that required costly re-routing, and rising costs of raw materials. Spain is a growing producer of renewable energy that it exports to France and it wants its neighbour to pay most of the extra costs. That had led to disagreement amid wider tensions between them about pipeline connections and protectionism. Spanish sources said the go-ahead would likely mean that France, whose nuclear power industry has been beset by problems, finally agreed to pay more.

☆ Why it's so hard to build new electrical transmission lines in the U.S.
▼ + stars: | 2023-02-21 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +14 min

Building new transmission lines in the U.S. takes so long — if they are built at all — that electrical transmission has become a roadblock for deploying clean energy. Energy companies that build new transmission lines need to get a return on their investment, explains James McCalley, an electrical engineering professor at Iowa State University. "Someone that benefits more frequent transmission line will pay more than someone who benefits less from a transmission line." transmission lines, energy grid, clean energyGreat River Energy and Minnesota Power are in the early stages of building a 150-mile, 345 kilovolt transmission line from northern to central Minnesota. Engaging with all members of the respective community is a necessary part of any successful transmission line build out, Patel and Johnson both say.

☆ Natural gas prices fall to 25-month low as key Texas LNG facility looks to restart exports
▼ + stars: | 2023-02-13 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Natural gas prices declined to a 25-month low on Monday, falling as much as 5%. The fall came despite news that a key LNG export hub in Texas looks to restart operations. The Freeport liquefied natural gas plant first went offline in June of last year due to a fire. Meanwhile, forecasts for mild winter weather continued to weigh on natural gas prices as demand for the heating fuel lags. For now, natural gas is flowing to the Freeport plant even as exports have yet to resume.

Search resuls for: "Energy Regulatory"

25 mentions found