Utilities Electric Utilities

  • June 9- DONG Energy set its valuation at 98 billion Danish crowns ahead of its stock market debut in Copenhagen on Thursday, making it the largest company to list in Europe this year. The utility and offshore wind farm developer said it priced the shares at 235 DKK each when trading begins at 0700 GMT. The valuation will make DONG the sixth largest company in Denmark,...

  • June 9- In February of 2001, then California Governor Gray Davis stood at the site of Calpine Corp's new Sutter natural gas power plant and unveiled his plan to fast-track construction of similar stations to add 20,000 megawatts of modern, efficient generation to the state in three years. Natural gas, Davis said, was "the most environmentally friendly, clean,...

  • President Barack Obama and Indian Prime Minister Narendra Modi on Tuesday welcomed the start of preparatory work for six nuclear reactors in India, a key step in closing the first deal stemming from a U.S.- India civil nuclear accord struck more than a decade ago. A joint U.S.- India statement said India and the U.S. Export-Import Bank were working to complete a...

  • *Funding underlines focus on industrial CCS, shift to China. BRUSSELS, June 6- BHP Billiton on Monday announced a $7.4 million donation to Peking University to develop technology to capture carbon emissions from the iron and steel industries. BHP Billiton CEO Andrew Mackenzie said capturing carbon and finding industrial uses for it had the potential to be a...

  • ISTANBUL, June 4- Turkish energy company Unit International has reached a $4.2 billion deal with Iran's energy ministry to build seven natural gas power plants there, in what it said was the biggest investment in Iran since the lifting of sanctions. The United States, European Union and United Nations lifted most sanctions on Iran in January under a deal with...

  • June 2- Exelon Corp, the biggest U.S. nuclear power plant operator, said on Thursday it will shut reactors at the Clinton and Quad Cities nuclear stations in Illinois, given a lack of progress on state energy legislation that would have allowed the plants to operate economically. Exelon said Clinton will close on June 1, 2017, and Quad Cities will close on June 1,...

  • WASHINGTON, June 1- Toshiba Corp's Westinghouse Electric and India are in "advanced discussions" for the company to build six nuclear reactors there, the country's ambassador to the United States said on Wednesday, ahead of India Prime Minister Narendra Modi's planned visit to Washington next week. A deal with Westinghouse would be the first such contract...

  • MOSCOW, June 1- Russia's Rosatom, already challenging French and other rivals for nuclear plant sales around the world, is now targeting entry into the U.S. fuel rod market, a top executive with the company has told Reuters. Its fuel rod technology is not yet used in the United States, but the company sees potential for a breakthrough and a chance to take market share...

  • NUSA DUA, Indonesia, June 1- Something has changed in the coal industry. For the past 22 years Asia's coal producers, traders and buyers have gathered in the Indonesian resort island of Bali to discuss the state of the sector. The main reason for the collapse in prices was the switch from an under-supplied seaborne market to one that was massively over-supplied as...

  • Merge and Acquisition

    Great Plains Energy, the parent of regulated utility Kansas City Power & Light, said it would buy rival Westar Energy for $8.6 billion.

  • BERLIN, May 30- Germany plans to ensure that utility companies remain liable for the costs of shutting down the country's nuclear power plants even if they split up, government sources said on Monday. The move, which will be announced on Wednesday, is designed to close a loophole ahead of the annual general meeting of E.ON on June 8, when shareholders will vote on...

  • *Mozambique to pay out of gas revenues. TEMANE, Mozambique, May 30- Mozambique's debt crisis and lower oil prices will not affect Sasol's $1.4 billion gas project because costs will be covered by the South African energy company and recouped through gas revenues, the company said on Monday. Mozambique missed a loan repayment deadline this month, plunging one of...

  • TOKYO, May 27- Japan will cut reliance on nuclear power when it releases an updated energy plan as early as next year, reflecting public opposition and a recognition that current policy is unrealistic, three sources familiar with official thinking told Reuters. Cutting nuclear will likely mean higher targets for renewable energy, said Tomas Kaberger, energy...

  • PARIS, May 25- French utility Engie said on Wednesday it is considering the closure or sale of its giant Hazelwood coal-fired power plant in Australia as part of its move away from operating any coal-fired plants. Chief Executive Isabelle Kocher told a French Senate committee on Wednesday that the utility planned a gradual withdrawal from coal-fired power...

  • LONDON, May 24- EDF cannot give a definitive time for when the French utility will make an investment decision regarding the Hinkley C nuclear project in Britain, EDF Energy CEO Vincent de Rivaz told British lawmakers on Tuesday. It is expected to produce seven percent of Britain's electricity when built, but a final investment decision has been delayed as EDF...

  • *Britain among European leaders, other countries watch closely. LONDON, May 23- Britain is turning to a new way of making sure it doesn't run out of power, one that could turn the energy market on its head: rather than paying utilities to produce more electricity, it is paying firms that guarantee to cut industrial demand. Aggregators, like Flexitricity, Kiwi Power or...

  • leak at the giant Aliso Canyon storage facility will threaten electric reliability in the southern part of the state this summer. In April, several California agencies prepared a report on potential power shortages related to last year's gas leak at the Aliso Canyon storage facility in the Los Angeles area. That report found significant risks to electricity...

  • May 18- The operator of the California power grid. said on Wednesday that natural gas shortages related to a. leak at the giant Aliso Canyon storage facility will threaten electric reliability in the southern part of the state this summer.

  • CALGARY, Alberta, May 17- A massive wildfire raged near Fort McMurray, Alberta on Tuesday and threatened major oil sands production facilities, forcing the evacuation of thousands of workers and prolonging a shutdown that cut Canadian oil output by 1 million barrels a day. The fire jumped a critical firebreak late Monday where plants and trees had been removed...

  • BEIJING, May 14- China produced 268 million tonnes of coal in April, down 11 percent on the year, the National Bureau of Statistics said on Saturday, with producers cutting back in a concerted effort to shore up prices. China's coal sector has been struggling with a massive capacity glut and miners have been encouraged to cut production to shore up domestic prices,...