DIRS.INFO The most relevant business & tech news

☆ U.S. energy regulators questioned on oversight of Freeport, Texas, LNG plant
▼ + stars: | 2023-02-11 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

Companies Freeport LNG Development LP FollowFREEPORT, Texas, Feb 11 (Reuters) - U.S. energy regulators on Saturday assured Texas residents they are monitoring repairs and the eventual restart of the fire-idled Freeport LNG plant as a vessel this week began taking the first fuel out of its storage tanks in eight months. When fully operational, Freeport LNG processes about 2 billion cubic feet per day of natural gas and exports up to 15 million tonnes of LNG per year. Methane is the main component of natural gas and a potent greenhouse gas. Freeport LNG was invited to send a representative to Saturday's meeting, PHMSA said. Reporting by Arathy Somsekhar in Freeport, Texas Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ LNG developer NextDecade blasts inaction by U.S. energy regulator
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

HOUSTON, Feb 6 (Reuters) - U.S. liquefied natural gas developer NextDecade Corp (NEXT.O) on Monday criticized regulator the Federal Energy Regulatory Commission for what it called "inexcusable" delays in reviewing information that would allow it to move ahead with a $15.7 billion export project. The court asked FERC to revisit its environmental review but did not invalidate the original approval. He called on FERC Chairman Willie Phillips to put the project on the commission's meeting agenda this month. The inaction "far exceeds the length of time FERC has taken to respond to other federal appellate court remands," wrote Schatzman. Reporting by Gary McWilliams in Houston Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Skyrocketing natural gas prices should be investigated for market manipulation, California Governor Gavin Newsom says
▼ + stars: | 2023-02-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

California residents are paying nearly a 600% premium on natural gas prices, according to recent estimates. "It is clear that the root causes of these extraordinary prices warrant further examination," Governor Gavin Newsom said in a letter. While overall US gas prices have plunged to $2.80 per million British thermal units, down over 70% from their highs in August of last year, California's gas prices averaged $19.40 per million BTUs in early January, according to the Wall Street Journal. He added that natural gas prices affect the state's industrial, agricultural, and water utilities, and urged regulators to look into the market's price pressures in the west. I therefore ask that FERC immediately focus its investigatory resources on assessing whether market manipulation, anticompetitive behavior, or other anomalous activities are driving these ongoing elevated prices in Western gas markets," Newsom said.

There are "continued calls for violence directed at U.S. critical infrastructure," the agency warned last February, "as a means to create chaos and advance ideological goals." Law enforcement and utility companies, though, say they're working to resolve the open cases and prevent future attacks. Members of accelerationist groups have been charged with several plots in recent years to attack critical infrastructure. "The critical infrastructure element has become one of the core components of neo-fascist accelerationist movements in the US. "They don't really care who is doing the violence, who's doing the critical infrastructure attacks, Lewis said.

Jan 31 (Reuters) - Solar panels and home batteries have soared in popularity because they allow consumers to generate and store their own carbon-free power and save on their electricity bills. When used this way, they are called virtual power plants, or VPPs. "Virtual power plants are at the center of that." U.S. solar companies including Sunrun Inc (RUN.O) and SunPower Corp (SPWR.O) have pooled some of their customers' systems into virtual power plants in California, Hawaii and New England. Sunrun last year, for example, operated a virtual power plant with thousands of homes in New England that provided 1.8 gigawatt-hours to the grid during June through August.

☆ Biden names Phillips acting head of energy regulator
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +1 min

Companies Federal Energy Regulatory Commission FollowWASHINGTON, Jan 3 (Reuters) - President Joe Biden has named Willie Phillips, a Democrat, acting chairman of the Federal Energy Regulatory Commission, FERC said on Tuesday. Phillips joined the commission in December, 2021 after being appointed by Biden and approved by Congress. After Phillips joined FERC, that began to change as Democrats had a 3-2 majority and the Biden administration pursued policies to transition to low-carbon energy. But now Phillips is acting chairman, FERC will be locked at a 2-2 because the former head, Richard Glick, left FERC after Senator Joe Manchin, a conservative Democrat, did not hold a confirmation hearing to consider Biden's re-nomination of Glick. Phillips will serve as temporary chief of the commission as the Biden administration considers nominating a permanent chair.

☆ U.S. regulators to probe power outages during historic winter storm
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +2 min

Dec 28 (Reuters) - An inquiry will be opened into the power outages caused by extreme weather during historic winter storm Elliott, the U.S. Federal Energy Regulatory Commission (FERC) and other North American regulatory authorities said on Wednesday. FERC will probe operations of the bulk power system to identify performance issues and recommend solutions alongside the North American Electric Reliability Corporation (NERC) and its six regional entities which encompass nearly 400 million customers, mainly in the U.S. and Canada. "This storm underscores the increasing frequency of significant extreme weather events and underscores the need for the electric sector to change its planning scenarios and preparations for extreme events,” said NERC CEO and President Jim Robb. And this was in the early weeks of a projected 'mild' winter," Robb said. Reporting by Deep Vakil in Bengaluru; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Here's why the U.S. electric grid isn't running on 100% renewable energy yet
▼ + stars: | 2022-12-29 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +15 min

Intermittency and transmissionOne of the biggest barriers to a 100% renewable grid is the intermittency of many renewable power sources. Wind resources in the United States, according to the the National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy. National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy. Solar resources in the United States, according to the the National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy. National Renewable Energy Laboratory, a national laboratory of the U.S. Department of Energy.

☆ Thai power price hike to hurt business, competitiveness - business group
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

BANGKOK, Dec 23 (Reuters) - Thailand's decision to hike electricity prices by 20% in early 2023 will push up inflation and undermine the country's competitiveness as the economy recovers gradually from the pandemic, a leading joint business group said on Friday. The business group urged the government to delay the price hike as manufacturers would be forced to increase the price of goods, said the group, which includes representatives from industry, banking and commerce. Surong Bulakul, vice chairman of the Thai Chamber of Commerce, said higher power prices could increase inflation to 3.5% next year, from 3% currently forecast, with interest rates on the rise. On Monday, the central bank said it would continue to raise rates for a while to help the economy and curb inflation. ($1 = 34.70 baht)Reporting by Orathai Sriring, Kitiphong Thaichareon Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ California and the Midwest face 'high risk' of electricity shortages in next five years
▼ + stars: | 2022-12-15 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +5 min

Projected energy shortfalls have been projected in that region since 2018, Olson said. The Southwest could also suffer when demand is high and wind energy generation is low in the region. For its annual long-term electricity security assessment, NERC looks at the coming decade, but energy and capacity risk assessment goes out for the coming five years, from 2023 to 2027. There are too many moving parts and uncertainties for a risk assessment past the next five years to be worthwhile, according to NERC. The Federal Energy Regulatory Commission certified NERC to measure and enforce safety standards for the energy grid in the United States in 2006.

The recent attack on two North Carolina substations that cut power to thousands of people has raised concerns about security standards for the country’s electric grid and its numerous power stations, which have faced greater threats in recent years. Nearly 600 electric emergency incidents and disturbances were caused by suspected and confirmed physical attacks and vandalism on the electric grid in those nine years, the reports show. The incidents, which are self-reported by power companies to the federal government, provide little to no detail about what occurred. Paths forward for a new standardThose who want a new security standard said there remain significant bureaucratic headwinds against such a proposal. The North American Electric Reliability Corporation, a nonprofit originally created by the electricity industry, said it created security requirements based on risk, rather than a one-size-fits-all approach.

☆ Philippine leader hopes court will reconsider Manila power deal
▼ + stars: | 2022-11-27 | by ( ) www.reuters.com time to read: +2 min

The court allowed South Premiere Power Corp., a unit of San Miguel Corp (SMC.PS) to suspend a power supply agreement with Manila Electric Company (Meralco) (MER.PS) after the companies were prevented from raising tariffs by the regulator. "We hope that the CA (Court of Appeals) will reconsider and include in their deliberations the extremely deleterious effect this will have on power prices for ordinary Filipinos," Marcos was quoted as saying, describing the decision as "unfortunate". South Premiere and Meralco had sought to raise prices amid higher costs of coal, which the Energy Regulatory Commission rejected in September citing fixed prices set under power supply agreements. Marcos, who began his six-year term in June, has promised lower electricity rates, which are among the highest in Asia. Higher electricity prices would put further pressure on Philippine inflation, which hit the fastest pace in nearly 14 years last month.

☆ To save salmon, U.S. approves largest dam removal in history
▼ + stars: | 2022-11-17 | by ( Daniel Trotta | ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - A U.S. agency seeking to restore habitat for endangered fish gave final approval on Thursday to decommission four dams straddling the California-Oregon border, the largest dam removal undertaking in U.S. history. Dam removal is expected to improve the health of the Klamath River, the route that Chinook salmon and endangered coho salmon take from the Pacific Ocean to their upstream spawning grounds, and from where the young fish return to the sea. The U.S. Federal Energy Regulatory Commission issued an order surrendering the dam licenses and approving removal of the dams. "The Klamath salmon are coming home," Joseph James, chairman of the Yurok Tribe, said in a statement. Climate change and drought have also stressed the salmon habitat; the river has become too warm and too full of parasites for many fish to survive.

☆ Berkshire Hathaway could boost earnings after Occidental accounting change
▼ + stars: | 2022-11-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Nov 5 (Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) could soon see a boost to its bottom line after changing its accounting for its big stake in Occidental Petroleum Corp (OXY.N). In its quarterly report on Saturday, Berkshire said it adopted the equity method of accounting for its 20.9% stake in Occidental, which is worth more than $14 billion. Accounting rules normally require the equity method when one company's stake in another reaches 20%, reflecting an assumption that the first company might exert significant influence. Kraft Heinz is controlled by Berkshire and Brazil's 3G Capital, and its board includes three directors from Berkshire. Some investors and analysts have said Berkshire could eventually buy Occidental, diversifying its energy portfolio.

☆ U.S. regulators want more data on Texas Freeport LNG plant before restart
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - U.S. federal regulators have told Freeport LNG to provide information needed for the planned restart of its liquefied natural gas (LNG) export plant in Texas, the second-largest U.S. LNG export plant, as soon as possible to allow sufficient time for review. Freeport cannot restart without regulatory approval. At least four vessels were already lined up to pick up LNG at Freeport, according to Refinitiv data. Prism Brilliance and Prism Diversity were waiting off the coast from the plant, while Prism Courage was expected to arrive on Nov. 1 and Grace Freesia on Nov. 27. The plant's restart will provide needed fuel for heating and power as winter descends on the Northern Hemisphere.

☆ U.S. natgas languishes near 7-month low after big storage build
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +3 min

Oct 20 (Reuters) - U.S. natural gas futures fell to their lowest since March on Thursday, after a federal report showed a larger-than-expected storage build last week and as the market is expected to see increases in output. Front-month gas futures fell 1.9% to settle at $5.358 per million British thermal units, after sliding to $5.253 per mmBtu earlier in the session. It was also the fifth week in a row that stockpiles increased by over 100 bcf. With milder weather coming, Refinitiv projected average U.S. gas demand, including exports, would fall from 100.6 bcf per day this week to 95.5 bcf per day next week. Even though natural gas production growth will likely outpace domestic natural gas demand growth in winter 2022-2023, the continued growth in net exports and reduced natural gas storage inventories are expected to place additional upward pressure on natural gas prices this winter, the Federal Energy Regulatory Commission (FERC) said on Thursday.

☆ U.S. FERC says winter natgas prices will be up from recent years
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Oct 20 (Reuters) - Natural gas prices at major U.S. trading hubs for the upcoming winter are expected to remain higher than in recent years, the Federal Energy Regulatory Commission (FERC) said on Thursday. Even if domestic gas production grows faster than domestic demand, "forecasts anticipate that continued growth in net exports, including from liquefied natural gas (LNG) export facilities, will place additional pressure on natural gas prices this winter," the agency said. "In total, the U.S. will add 43 gigawatts(GW)of net winter capacity between March 2022 and February 2023, mostly from solar and wind generation." "Natural gas pipelines in California may also face constraints this winter due to ongoing pipeline outages." The FERC warned that this winter, international markets will likely also affect the U.S. market, as they did at times last winter.

☆ PG&E files to separate non-nuclear generation assets into standalone unit
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Sept 28 (Reuters) - PG&E Corp has moved to separate its non-nuclear generation assets into a standalone unit by filing an application with the California Public Utilities Commission (CPUC), the utility said on Wednesday. The company is seeking regulatory approval to sell a stake of up to 49.9% in the new non-nuclear generation unit called Pacific Generation LLC, which would provide a source of equity financing to help PG&E fund wildfire risk mitigation and clean energy investments, it added. PG&E would maintain majority ownership in the unit. The power company has been blamed for sparking numerous wildfires, including some of the state's most deadly and destructive. The company expects to launch the minority stake sale process in first-quarter 2023 and said the deal would have no impact on PG&E customer bills.

Senator Joe Manchin's bill to speed energy permitting as a handout to fossil fuel companies, but clean energy advocates said the bill's failure would hinder the rapid expansion renewable power needs to combat climate change. Democratic Majority Leader Chuck Schumer pulled Manchin's bill from temporary government funding legislation on Tuesday after it did not gain enough support. Clean energy backers said the permitting provision could still be attached to other bills later this year that must be passed, such as a big appropriations legislation. Jesse Jenkins, a clean energy expert at Princeton University, tweeted on Tuesday that the permitting bill had been "a big mixed back for climate & the environment." "We still need to build new clean energy & transmission at unprecedented pace!"

☆ Manchin’s Permitting Bill Has a Poison Pill
▼ + stars: | 2022-09-27 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

The Senate may vote as early as Tuesday on Joe Manchin ’s permitting reform bill, and the West Virginian says Republicans should accept incremental progress rather than nothing. But the main problem isn’t that his changes are too modest, though they are. Some of them would do tangible harm to U.S. energy security and constitutional federalism. Though it’s received little attention, one section would rewrite how transmission lines are permitted, and not for the better. The 1935 Federal Power Act preserved state authority over transmission-line permits while the Federal Energy Regulatory Commission (FERC) decides how to allocate costs.

Search resuls for: "Energy Regulatory"

20 mentions found