Federal Regulators Delay Decision and Request More Information on Utilities’ Proposal for New Energy Market
WASHINGTON, DC Today the Federal Energy Regulatory Commission requested more information before ruling on a proposal by Southeastern utilities to alter the existing wholesale energy market, citing questions on price impacts, transparency, and market manipulation.
In February, a number of utilities in the US Southeast filed a proposal with the Federal Energy Regulatory Commission (FERC) to create the Southeast Energy Exchange Market (SEEM), a proposal that was challenged by SELC representing several public interest organizations throughout the region.
In response,
SELC Attorney Maia Hutt released the following statement:
The natural gas storage report from the EIA for the week ending April 23rd indicated that the amount of natural gas held in underground storage in the US rose by 15 billion cubic feet to 1,898 billion cubic feet by the end of the week, which left our gas supplies 302 billion cubic feet, or 13.7% below the 2,200 billion cubic feet that were in storage on April 23rd of last year, and 40 billion cubic feet, or 2.1% below the five-year average of 1,938 billion cubic feet of natural gas that have been in storage as of the 23rd of April in recent years..the 15 billion cubic feet that were added to US natural gas storage this week was more than the average forecast of a 9 billion cubic foot addition from an S&P Global Platts survey of analysts, but measured well below the average addition of 67 billion cubic feet of natural gas that have typically been injected into natural gas storage during the same week over the past 5 years, as well as well below the 66 billion cubic feet added to natur
Emera to buy Teco Energy for $10.4bn
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6 September 2015
Canadian energy utility Emera has signed a definite agreement to acquire US based energy utility Teco Energy in a $10.4bn transaction aiming to increase it portfolio in the US.
Teco Energy owns and operates utilities including Tampa Electric, Peoples Gas and New Mexico Gas.
The transaction includes assumption of about $3.9bn in debt.
Majority of the assets under Teco Energy is in Florida, where the firm operates Tampa Electric and the regulated natural gas utility Peoples Gas.
While 56% of Teco’s assets are based in the US state, 23% is in Canada, 10% in New England, 6% in New Mexico and 5% in the Caribbean.
The Rundown
water infrastructure package. FERC commissioners discuss incorporating
environmental justice into their evaluation of energy infrastructure. The EPA announces a new round of
WIFIA funds and approves grant funding for water systems in two
Alaska Native villages. President Biden nominates a government veteran to lead the
Army Corps of Engineers. And lastly, the GAO recommends that the EPA updated its database with more accurate information on
drinking water utility ownership.
“This legislation represents, I think, a fantastic first effort for our ongoing work together to address the major concerns of the American people when it comes to infrastructure and the environment, and in a thoughtful and fiscally responsible fashion.” Sen. Shelley Moore Capito (R-WV) speaking on the Senate floor in support of a drinking water and wastewater infrastructure bill. The bill passed by an 89 to 2 margin.
The electrification of transportation, heating and other end uses necessary for the United States to meet its decarbonization goals will require the country to double its electricity load by 2050, panelists said Thursday at a Federal Energy Regulatory Commission technical conference. With that additional load will come opportunities, responsibilities and challenges, they said.
The panelists frequently acknowledged the need to consider issues of equity, affordability and environmental justice throughout the energy transition. If we don t address those issues, what are we doing? We re not accomplishing anything, said FERC Chairman Richard Glick.
They also raised cybersecurity concerns. It will be a constant battle to secure the grid, said Carlos Casablanca, managing director of distribution planning and analysis at American Electric Power Service Corp. But he added that AEP does not believe that these risks are brought upon by electrification efforts alone, as these risks alre