Utilities Electric Utilities

  • COPENHAGEN, Aug 18- Wind turbine maker Vestas posted much higher than expected second-quarter results and lifted its 2016 revenue and profitability forecasts, showing it can exploit growing demand for renewable energy. Wind turbine makers are benefiting from a new focus on renewables, encouraged by the Paris global climate summit last year and the...

  • WILMINGTON, Del., Aug 17- Energy Future Holdings Corp, Texas' biggest power company, urged a U.S. bankruptcy court on Wednesday to allow the bulk of its operations to exit Chapter 11, in the largest U.S. bankruptcy since the financial crisis. Energy Future filed for Chapter 11 in April 2014 with $42 billion in debt, the largest bankruptcy since General Motors Corp's in...

  • SINGAPORE, Aug 18- Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities. "Reasons for the increase in prices include mine closures in Indonesia, United States and Australia and policy change by Chinese authorities,"...

  • WILMINGTON, Del., Aug 17- Energy Future Holdings Corp, Texas' biggest power company, urged a U.S. bankruptcy court on Wednesday to allow the bulk of its operations to exit Chapter 11, in its latest bid to reorganize after two years of battling creditors in the largest U.S. bankruptcy since the financial crisis. "The time has come to... confirm a plan and actually emerge...

  • SYDNEY, Aug 18- Australia's Whitehaven Coal Ltd on Thursday reported a bigger-than-expected annual profit on the back of higher coal sales in Asia. Net profit by the producer of coal used in power generation and to make steel, whose customers are predominantly in Japan and India, reached A $20.5 million in fiscal 2016 against forecasts by analysts of around A...

  • Australia China

    The blocking of Ausgrid's sale could dampen Chinese investors' enthusiasm for Australian assets, says UTS' James Laurenceson.

  • SINGAPORE, Aug 17- Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities. Global mining majors like Glencore and Anglo American, but also regional Asian players like Thailand's Banpu, are reaping the benefits.

  • SANTIAGO, Aug 16- The cost of energy in Chile is likely to fall in the next decade, as an auction aimed at providing around a third of the copper exporter's energy needs had attracted bids priced more competitively than forecast, the energy minister said. But the offers ensured that energy prices would be "well below" $60 per megawatt-hour, less than half the cost of...

  • LONDON, Aug 16- Britain on Tuesday approved plans to expand an offshore wind farm project that could ultimately have more than 600 turbines spread across an area of the North Sea more than twice the size of London. The Hornsea Two windfarm project, to be built by DONG Energy, is part of Britain's push to invest in new electricity generation capacity needed to...

  • NEW YORK, Aug 15- U.S. water technology company Xylem Inc said on Monday it would buy Sensus USA Inc, a provider of advanced metering technologies to utilities, for around $1.7 billion in cash. Xylem said the purchase price was 10.7 times Sensus's adjusted earnings before interest, taxes, depreciation and amortization in fiscal 2016. Rye Brook, New York- based Xylem...

  • NEW YORK, Aug 15- U.S. water technology company Xylem Inc is nearing a deal to acquire Sensus USA Inc, a provider of advanced metering technologies to utilities, for around $1.7 billion, including debt, according to people familiar with the matter. Buyout firm Jordan Company, in partnership with Goldman Sachs Group Inc's private equity arm, acquired the company for...

  • *Australia halted A $10 bln grid sale to State Grid Corp of China. SYDNEY, Aug 12- Australia blocked the sale of a major power grid company to Chinese interests in part over concerns that China, its biggest trading partner, is becoming a geo-political threat, a senior member of Australia's government said. Treasurer Scott Morrison, from the country's pro-business...

  • The logo for Australia's biggest electricity network Ausgrid adorns its headquarters building in central Sydney, Australia.

    Australia on Thursday blocked the sale of the country's biggest electricity network, Ausgrid, to foreign companies, citing national interest grounds.

  • WASHINGTON, Aug 10- A federal appeals court said on Wednesday the U.S. Federal Communications Commission could not block two states from setting limits on municipal broadband expansion, a decision seen as a win for private-sector providers of broadband internet and a setback for FCC Chairman Tom Wheeler. The FCC voted 3-2 in 2015 to issue an order seeking to...

  • JOHANNESBURG, Aug 10- South Africa's state-run power utility Eskom said on Wednesday it had suspended two senior managers as part of an investigation into the leaking of documents in a court case involving Koeberg, Africa's only nuclear power plant. The utility said the leaked information could affect a court case between Eskom and Westinghouse Electric...

  • The Pacific Gas and Electric Co. (PG&E) Diablo Canyon nuclear power plant stands in Avila Beach, California.

    Pacific Gas & Electric was found guilty of federal charges stemming from a natural gas pipeline explosion in California that killed eight people.

  • Aug 9- Solar panel installer SolarCity Corp, which recently accepted Tesla Motors Inc's $2.6 billion takeover offer, said it experienced greater-than-usual delays in closing new project financing commitments due to the takeover talks. Tesla first made an offer for SolarCity, which is backed by Tesla founder Elon Musk, on June 21 as part of Musk's ambitious...

  • CAIRO, Aug 8- Egypt will increase electricity prices by up to 40 percent for households as part of its plan to repair its finances by eliminating power subsidies entirely over the next few years, the government said on Monday. Egypt began a five-year program of price increases in 2014 to gradually eliminate domestic electricity subsidies.

  • LONDON, Aug 5- Turkey imposed a tax this week on imports of thermal coal from Colombia, Russia and other major exporters, for use in power generation, to support domestic coal production. The Turkish cabinet decided to impose the tax of $15/ tonne on imports from the United States, Colombia, Russia and South Africa on July 18 and announced it in the Official Gazette...

  • Two years on, many projects have stalled, hitting confidence among foreign investors Egypt sorely needs. Some foreign firms now say they will shelve projects at a time when Egypt is seeking to boost foreign investment to ease a hard currency shortage that is choking the economy and to diversify after gas shortages caused blackouts in 2013 and 2014..