Category: Power/energy, electricity, natural gas and pricing news

Electric Power News

SunPower Declares Bankruptcy

SunPower Declares Bankruptcy By Irina Slav – Aug 06, 2024, 2:30 AM CDT SunPower, the California-based solar developer and operator, has filed for bankruptcy protection after slashing jobs and saying it would restate its financial results for the last two years on cost misclassification. The company also said it had entered into a stalking horse deal with Complete Solaria, which would buy some of SunPower’s business for $45 million in cash. Solaria would buy the Blue Raven Solar project and SunPower’s New… Read More »

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Power/energy, electricity, natural gas and pricing news

California Power Bills Are Soaring

California Power Bills Are Soaring By Tsvetana Paraskova – Aug 08, 2024, 5:00 PM CDT California residents face the second-highest average electricity bills in the U.S., driven by investments in wildfire mitigation, grid upgrades, and renewable energy integration. The surge in electricity costs has left nearly 1 in 5 California households behind on their energy bills. California is transitioning to a new net billing tariff for residential solar and a flat monthly fee structure for electricity in an effort to make… Read More »

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Natural Gas News

Natural Gas: A Comprehensive Guide To The World’s Most Crucial Fuel

Natural Gas: A Comprehensive Guide To The World’s Most Crucial Fuel By Michael Kern – Aug 05, 2024, 10:30 AM CDT Natural gas is a fossil fuel made up of methane and other hydrocarbons formed from the decomposition of organic matter. It is extracted via various methods and used as an abundant and relatively inexpensive source of energy for heating, cooking, and electricity generation. While natural gas has its benefits, it also poses environmental concerns such as greenhouse gas emissions and… Read More »

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Natural Gas News

Big Oil Doubles Down on LNG as Renewables Falter

By Irina Slav – Aug 06, 2024, 7:00 PM CDT Supermajors are scaling back renewables projects and investments due to poor returns compared to LNG. Big Oil prioritizes growing its LNG business, seeing strong demand for natural gas in the medium to long term. Renewables commitments falter as European oil and gas firms focus on energy security amid the energy crisis and skyrocketing prices. Read more From: oilprice.com

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Electric Power News

Significant Surge in Capacity Costs for PJM Electric Grid: What You Need to Know

FOR IMMEDIATE RELEASE Significant Surge in Capacity Costs for PJM Electric Grid: What You Need to Know [Dublin, OH, 8/14/2024] – PJM Interconnection, which manages the electric grid covering Pennsylvania, New Jersey, Illinois, and other regions, has announced a dramatic increase in capacity costs following its latest auction. The new capacity cost has surged from $29/MW-Day to $269/MW-Day, representing a 9-10x increase. This significant rise, set to begin in June 2025 and last for 12 months, will affect every… Read More »

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Power/Energy Price News

Rising US power prices reflect new reality for utilities in warming world

Halfway through a US summer of punishing heat domes and record-high temperatures, air conditioners are churning and energy bills are soaring. But a closer look at how such costs play out reveals vast disparities among states and demographic groups — suggesting a complex American energy reality that goes beyond partisan talking points and shows the challenges utilities face in a warming world, industry experts said. Between 2018 and 2023, average US household electricity prices rose 21.9%, data from S&P… Read More »

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Electric Power News

Outlook for Pending Generation in the PJM Interconnection Queue

Outlook for Pending Generation in the PJM Interconnection Queue Executive Summary The United States is witnessing rapidly growing interest in clean electricity generation, driven by soaring consumer demand for clean energy and the country’s goal to reduce greenhouse gas emissions. In parallel, the time it takes for new, clean generation projects to move from design to execution in the US has lengthened, meaning that the rising interest has not been matched by supply. The country’s largest grid operator, PJM… Read More »

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