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September 7, 2024

Company News

Eversource Sees Conn. Rate Increase Suspended
Eversource Energy reported how well it is managing the pandemic just as state regulators suspended a July 1 rate increase set to boost its bottom line.
PSEG Seeking to Sell Fossil, Solar Generation
PSEG is putting its solar and fossil fuel generation on the block as it seeks to transform into a primarily regulated electric and gas utility.
Dominion Names Blue as CEO in Earnings Call
Dominion Energy announced Friday that executive vice president and co-COO Robert Blue will become president and CEO by Oct. 1.
Xcel Earnings Overcome COVID-19 Sales Drop
Xcel Energy reported improved second quarter earnings despite a drop in sales due to the COVID-19 pandemic, citing lower expenses and favorable weather.
PG&E Reports Steep Q2 Loss on Bankruptcy, Fire Costs
PG&E reported a loss of $3.73/share in the second quarter, driven mainly by $2.5 billion in costs to exit bankruptcy and help pay for the 2019 Kincade Fire.
UPDATE: IIF Closes El Paso Electric Purchase
The privately held Infrastructure Investments Fund completed its acquisition of El Paso Electric after a final regulatory check by the NRC.
ComEd on Hot Seat at ICC Hearing
The Illinois Commerce Commission questioned ComEd officials over the company’s agreement to pay a $200 million fine to settle bribery allegations.
Entergy Beats Expectations with Strong Quarter
Entergy reported second-quarter earnings of $361 million ($1.79/share), bettering 2019’s second-quarter performance of $236 million ($1.22/share).
UPDATE: FirstEnergy, AEP CEOs Deny Wrongdoing
AEP CEO Nick Akins said that his company is innocent of wrongdoing in the alleged bribery scheme that resulted in the passage of Ohio H.B. 6, echoing a similar protestation by FirstEnergy CEO Charles Jones.
NRG Energy
NRG Announces $3.6B Cash Deal to Acquire Direct Energy
NRG Energy said it will acquire competitive retailer Direct Energy from U.K.-based Centrica for $3.63 billion in an all-cash transaction.

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