Comverge To Record Non-Cash Impairment Charge
Comverge, Inc. a leading provider of clean energy through demand response and energy efficiency announced today that it expects to record a non-cash impairment charge of goodwill and certain intangible assets in the range of $65 million to $79 million for the three months ended September 30, 2008. The net non-cash impairment charge is estimated to increase diluted net loss per share by $3.05 to $3.71...
Green Mountain Power Files for Rate Adjustment of Less Than Two Percent
Green Mountain Power today asked the Vermont Public Service Board to authorize a 1.58 percent rate adjustment to go into effect on January 1, 2009, as part of its alternative regulation plan. The increase is largely due to increases in regional transmission costs. “While we know any increase in rates can be difficult for our customers, we are pleased to have been able to keep our adjustment extremely...
Constellation Energy Provides Update on Liquidity and Strategic Initiatives
Constellation Energy provided an update on its previously announced plans to increase available liquidity and reduce risk in its commodities businesses. Constellation Energy announced that the closing of the previously announced credit facility has been extended to no later than Nov. 26 and currently expects to receive total commitments from the banks of approximately $1.0 billion to $1.25 billion....
NorthWestern Energy Responds to Montana Public Service Commission Proceedings Regarding Colstrip Unit 4
NorthWestern issued a statement in reaction to initial votes to draft orders regarding dockets related to Colstrip Unit 4. “We disagree and we’re disappointed with the decision related to the bankruptcy tipulation, but we will reserve further comment on the matter until we see the language in the final order,” said Claudia Rapkoch, Director – Corporate...
SYLVANIA Lighting Services Completes Amtech Lighting Acquisition
SYLVANIA Lighting Services (SLS), a subsidiary of lighting manufacturer OSRAM SYLVANIA, has completed its previously announced acquisition of Amtech Lighting Services from ABM Industries, Inc. The transaction closed today. “SYLVANIA Lighting Services is now the largest lighting service organization in the country,” said Graham Wark, OSRAM SYLVANIA vice president of SYLVANIA Lighting Services....
China Energy Corporation Continues Expansion Strategy
China Energy Corporation, a leading producer of coal, heat, and electricity in Inner Mongolia, China, is pleased to provide this corporate update regarding its operations. “Our persistent focus on expanding our production of coal, heat, and electricity has positioned the Company to take full advantage of the major economic transformation and urban migration now taking place within Inner Mongolia,”...
Reliant Energy, Merrill Lynch Agree to Extension
On September 29, Reliant Energy announced that it had entered into a letter agreement with Merrill Lynch to take steps to end the credit-enhanced retail structure with Merrill Lynch. The letter agreement also waived compliance with the minimum adjusted EBITDA covenant in the $300 million retail working capital facility with Merrill Lynch through October 31. Reliant and Merrill have agreed to extend...
Titan Energy Worldwide Awarded $130,000 Service Contract for Iowa Telecommunications Company’s Backup Power Generators
Titan Energy Worldwide announced that its subsidiary, Titan Energy Systems, has secured a $130,000 annual contract to provide maintenance service to more than 140 portable standby power generators for a large telecommunications provider in Iowa. To date, Titan Energy has booked $791,000 in service contracts compared to $315,000 in all of 2007, a more than 150% increase with two months remaining in...
Lime Energy Saves 2 Million Kilowatt-Hours at Harrah’s in San Diego
Lime Energy and Harrah’s Rincon Resort and Casino today announced they have completed an energy efficiency retrofit project that produces significant benefits to the resort and to the environment. The project includes new light emitting diode (LED) technology in elevators, recessed downlights and outdoor signage. Lighting with LED uses about 1/7th to 1/10th the energy of standard lighting and...
GE Energy to Provide Distribution Management System for EDF Energy Networks in London
GE Energy announced today that EDF Energy Networks is installing GE’s power distribution management software system to help manage EDF’s London electricity distribution network. The new distribution system completes the final phase in EDF’s integration strategy that will benefit eight million customers in the United Kingdom. Since privatization and regulation of the electricity networks in the...
Recent Energy News
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Innergex increases its net installed capacity by 53 % as Ashlu Creek starts commercial operation
Innergex Renewable Energy Inc. announces that the Ashlu Creek run-of-river hydroelectric power...
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