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Utilities Electric Utilities

  • PARIS, Feb 9- A fire caused an explosion at EDF's Flamanville nuclear power plant in northern France on Thursday, leading the utility to take a reactor offline, but there was no associated nuclear risk, EDF and a local government official said on Thursday. State-owned EDF said in a statement a fire in a machine room caused the explosion in a "non-nuclear" part of the...

  • The coal miner also said revenue rose 4.6 percent to $575.7 million in the fourth quarter ended Dec. 31 from the third, helped by higher prices for metallurgical coal, which is used in steel making. Demand for thermal coal, used for power generation, has sharply declined in recent years, hurt by cheap prices for competing fuel natural gas and environment-friendly...

  • *Toshiba withdraw from lead role in India negotiations- sources. LONDON/ TOKYO, Feb 3- Toshiba Corp plans to withdraw from its lead role in projects to build nuclear plants in Britain and India, sources with direct knowledge of the matter said, marking a retreat as it wrestles with an imminent multi-billion dollar writedown. But it would throw into question the...

  • COPENHAGEN, Feb 2- DONG Energy, the world's biggest offshore wind farm developer, on Thursday reported its first full-year net profit since 2011, but will face tough competition for projects in Europe and the United States from new players that are pushing down margins. Some 18.2 billion euros were committed to offshore wind projects in Europe in 2016, a 39...

  • TORONTO, Feb 2- Canada's main stock index inched higher on Thursday as gold miners gained and insurers slipped with uncertainty around when the U.S. At 10:25 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was up 10.17 points, or 0.07 percent, at 15,412.56. Canadian Natural Resources Ltd advanced 2 percent to C $40.09, with oil prices holding near...

  • Allianz said Great Western was projected to generate more than $25 million in property taxes for Ellis and Woodward Counties, where the wind farm is based. "It is a valuable addition to our renewable energy portfolio, which now exceeds 3.5 billion euros and offers a stable and uncorrelated return to Allianz," said David Jones, Head of Renewables at Allianz Capital...

  • Allianz said Great Western was projected to generate more than $25 million in property taxes for Ellis and Woodward Counties, where the wind farm is based. "It is a valuable addition to our renewable energy portfolio, which now exceeds 3.5 billion euros and offers a stable and uncorrelated return to Allianz," said David Jones, Head of Renewables at Allianz Capital...

  • Feb 1- Japan's Kansai Electric Power has canceled plans to switch a 1,200 megawatt oil-fired power station to coal as demand for electricity fell amid a push to cut the country's emissions after it signed up to a global climate change accord. Based in western Japan, Japan's second-biggest utility had said in March 2015 it would convert its Ako power station,...

  • ISLAMABAD, Jan 31- Pakistan aims to raise $350 million from the sale of a stake in Kot Addu Power Company and will also relaunch a share sale in Oil and Gas Development Company but only to domestic investors, its privatisation chief said. Chinese companies showed the most interest "by far" in the planned sale of a 40 percent stake in KAPCO during roadshows in Istanbul,...

  • ISLAMABAD, Jan 31- Pakistan aims to raise $350 million from the sale of a stake in Kot Addu Power Company and will also relaunch a share sale in Oil and Gas Development Company but only to domestic investors, its privatization chief said. Chinese companies showed the most interest "by far" in the planned sale of a 40 percent stake in KAPCO during roadshows in Istanbul,...

  • LAUNCESTON, Australia, Jan 30- India has surrendered its status as the world's top importer of coal back to China, with its overseas purchases in 2016 falling to less than 200 million tonnes. India's coal imports last year totalled 194.93 million tonnes, according to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity...

  • TOKYO, Jan 27- Toshiba Corp said it will sell a minority stake in its memory chip business as it urgently seeks funds to offset an imminent multi-billion dollar writedown, adding that its overseas nuclear division- the cause of its woes- was now under review. The drastic measures are set to be just some of the tough choices the Japanese conglomerate will have to take...

  • TOKYO, Jan 27- Toshiba Corp said it will sell a minority stake in its memory chip business as it urgently seeks funds to offset an imminent multi-billion dollar writedown, adding that its overseas nuclear division- the cause of its woes- was now under review. The drastic measures are set to be just some of the tough choices the Japanese conglomerate will have to take...

  • Buy the dip on 'false negative' read on utilities: Pro

    Greg Gordon, Evercore ISI, talks about the poor performance in utilities after the election as well as where he sees opportunities in the sector and what to avoid.

  • TOKYO, Jan 25- Japan's coal imports for power generation fell in 2016 from four years of successive record highs and liquefied natural gas purchases dropped for a second year as an energy crisis brought on by the 2011 Fukushima disaster eased, official data showed. Rising supplies of homegrown renewable energy and the return of some nuclear power, amid falling...

  • Jan 24- U.S. liquefied natural gas exporters have shifted their focus to Southern Europe from Asia as cold weather and problems with Algerian gas supply have driven Europe's gas prices higher. Gas prices in Europe are at their highest premiums to U.S. gas prices for three years. Spain, Greece and Turkey would be other possible destinations for the LNG cargoes, said...

  • PARIS, Jan 24- The board of French state-controlled utility EDF has approved compensation for the planned closure of EDF's Fessenheim nuclear plant, two sources with knowledge of the matter said on Tuesday. The deciding ballot was then cast by EDF's Chief Executive Officer Jean-Bernard Levy, the source said. Some candidates in France's April and May...

  • SARAJEVO, Jan 23- A Chinese company began work on Monday on a $715 million expansion of a Serbian coal mine and a new power plant, part of a wave of investment in new coal-fired plants in the Balkans that is at odds with EU policy of reducing coal use. China Machinery and Engineering Corp's project to expand Kostolac, Serbia's second biggest coal mine, and build a new...

  • Its creation follows a series of controversial foreign investment rulings last year, when the government blocked Hong Kong and Chinese firms bidding for Ausgrid, the biggest power grid in the nation's most populous state, New South Wales, on national security grounds. The Chinese government subsequently labeled Australia "protectionist."

  • TORONTO, Jan 19- Canadian underwater energy storage company Hydrostor is eyeing $1 billion of contracts to replace decommissioned U.S. peak power plants in the next two or three years, its chief executive said. "We are now by far the lowest cost storage solution, we can be built at scale, we've got our partnerships in place and we're going to start marketing it here in...