Electric Utilities
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* "All hell breaks loose" if IRS loses- professor. WASHINGTON, Feb 19- The Supreme Court on Wednesday will hear arguments in a dispute between U.S. tax authorities and PPL Corp over a British tax imposed on the power utility after it bought one of many businesses privatized by former British Prime Minister Margaret Thatcher.
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Feb 19- U.S. power company Energy Future Holdings, formerly TXU Corp, said it could go into bankruptcy, liquidation or insolvency if lenders or noteholders accelerate repayment of all borrowings.
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ANKARA/ ISTANBUL, Feb 18- Turkey is hoping to find shale gas reserves big enough to help reduce its energy import dependency and is in talks with foreign firms about widening exploration after encouraging early signs, industry officials said on Monday.
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Feb 15- U.S. power company American Electric Power Co Inc said Friday it expects to spend $4 billion to $5 billion between now and 2020 to make its remaining coal plants compliant with current and proposed federal environmental regulations.
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HOUSTON, Feb 15- The Texas power grid, already struggling to attract new generation to avoid rolling outages as demand grows, now may have to cope with a potential restructuring of the largest owner of power plants and transmission lines in the state.
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*Iberdrola fall hits European utility sector. LONDON, Feb 15- Weak utility stocks held back European equities on Friday and traders said share markets in the region would be vulnerable to profit taking in the next month after a January rally.
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SANTIAGO, Feb 14- A U.S. shale gas boom could help Chile avert a power crunch by lowering liquefied natural gas prices, as the government is worried that troubled hydropower projects may never come on line, the deputy energy minister told Reuters on Thursday.
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LONDON, Feb 13- Coal could join gas in making losses in Germany's struggling power market, as a continuing renewable energy boom and slumping power demand force utilities to rethink their strategy.
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Feb 13- Duke Energy Corp reported its second consecutive quarterly rise in profit on Wednesday following its acquisition of rival Progress Energy last summer. The largest power company in the United States said net income for the fourth quarter was $586 million, or 62 cents per share, compared with $333 million, or 65 cents per share, a year earlier.
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Feb 13- Duke Energy Corp, the largest power company in the United States, posted an increase in quarterly net income on Wednesday in its second quarterly report since its merger with Progress Energy. For the fourth quarter, the company posted net income of $586 million, or 62 cents per share, compared with $333 million, or 65 cents per share, a year earlier.
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WASHINGTON, Feb 11- President Barack Obama is expected to offer more details in Tuesday's State of the Union address on how the administration will fulfill his inaugural pledge to respond to the threat of climate change, according to energy policy analysts.
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Feb 8- Almost 150,000 homes and businesses mostly in the Boston area were still without power midday Monday after a major snowstorm hit the U.S. The following is a list of some of the hardest hit utilities.
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Feb 9- A nuclear power plant in Massachusetts lost power and automatically shut down late on Friday during a massive blizzard across the northeastern United States, the nuclear regulator said.
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Feb 8- Pepco, a unit of Pepco Holdings Inc, has restored service to about 50,000 Washington, D.C. homes and businesses that lost power earlier on Friday after a tree hit a transmission line, according to the power company's website. With the return of the Pepco customers, utilities in the U.S.
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Feb 8- Almost 60,000 homes and businesses were without power in the U.S. Northeast with most outages in the Washington, D.C., area Friday due to a major snowstorm that could drop up to three feet of snow in parts of New England. The following is a list of some of the hardest hit utilities.
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*Urenco chief urges Europe to develop prototype micro reactor. LONDON, Feb 8- Europe should seize the chance to develop a new generation of "plug and play" micro nuclear reactors that could compete with wind farms as a safe, low-carbon energy source, the head of nuclear fuel firm Urenco said.
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Feb 7- Low natural gas prices and slow economic growth forced U.S. power company Exelon Corp to cancel plans to spend $2.3 billion on capacity expansion at its nuclear power plants and other projects, Chief Executive Chris Crane said Thursday.
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Feb 7- Low natural gas prices and slow economic growth forced U.S. power company Exelon Corp to cancel plans to spend $2.3 billion to expand capacity at its nuclear power plants and other projects, Chief Executive Chris Crane said Thursday.
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"Most of the coal companies are' buys' at these levels," said Eric Green, a senior portfolio manager at Penn Capital in Philadelphia. " Green said he expected Alpha Natural Resources Inc, which closed on Wednesday at $8.67, and Walter Energy Inc, which ended at $36.88, ultimately to rise 50 percent from current levels.
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LOS ANGELES, Feb 6- The owner of a shuttered Southern California nuclear power plant was aware of problems with its new steam generators before they were installed, two lawmakers said on Wednesday, citing a report by the maker of the equipment.