Rising Costs Threaten Utility Sector’s Large Dividends

To combat rising costs, companies in the Electric Utilities Sector have been looking to mergers and acquisitions to keep profits steady and maintain their healthy dividends. Stricter environmental regulations require that any new power plants built that are large enough to produce 75,000 tons of carbon dioxide a year must use the best available control... 

Constellation Energy to Sell Downstream Gas Business

Constellation Energy announced it has reached a definitive agreement to sell its Houston-based downstream natural gas unit to Macquarie Group. Terms were not disclosed. The pending divestiture is one of several strategic initiatives the company has undertaken in recent months to reduce risk in its merchant businesses and improve liquidity through the... 

Constellation Energy Receives Unsolicited Proposal From Électricité de France

Constellation Energy confirmed that it has received an unsolicited proposal from Électricité de France (EDF). The main components of EDF’s proposal are: * EDF would purchase a 50% ownership interest in the nuclear generation and operation business of Constellation Energy (excluding Constellation Energy’s existing interest in the UniStar joint... 

Constellation Energy Receives Unsolicited Proposal From Électricité de France

Constellation Energy confirmed that it has received an unsolicited proposal from Électricité de France (EDF). The main components of EDF’s proposal are: * EDF would purchase a 50% ownership interest in the nuclear generation and operation business of Constellation Energy (excluding Constellation Energy’s existing interest in the UniStar joint... 

MidAmerican and Constellation Energy Receive Early Termination of Hart-Scott-Rodino Act Waiting Period

MidAmerican Energy Holdings Company and Constellation Energy announced early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, related to MidAmerican’s proposed merger with Constellation Energy. “The clearance of the Hart-Scott-Rodino Act is another step forward in achieving the necessary... 

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... 

NovusEdge, Inc. Signs on as Member of the NewEnergy Alliance(SM)

NovusEdge, Inc. announced today that it has officially joined the NewEnergy Alliance(SM), a group committed to driving innovation in the building automation industry that will create smarter, more Energy Responsive Buildings(SM). Together, Alliance participants are working to forge a new electricity load response model that will surpass the current... 

Duke Energy Ohio Reaches Agreement on Electric Security Plan

Duke Energy Ohio announced today that a settlement agreement has been reached with most intervening parties, the Staff of the Public Utilities Commission of Ohio (PUCO) and the Ohio Consumers’ Counsel on its electric security plan under Ohio’s new energy law. The agreement, which establishes generation rates for 2009 through 2011, must be... 

Fellon-McCord Initiates Power Supply Dispatching via Acquisition of DaCott Power & Transmission Solutions LLC

Energy consulting and management company Fellon-McCord & Associates announced the acquisition of the assets of DaCott Power & Transmission Solutions LLC (DP&T) from DaCott Energy Services Ltd. of Houston, TX. The acquisition gives Fellon-McCord a valuable new slate of power supply consulting services including a 24/7 power dispatch capability... 

Constellation Energy Announces Key Executive Appointments

Constellation Energy announced two new management appointments – Jonathan (Jack) W. Thayer as chief financial officer and Charles A. Berardesco as general counsel – as the Company progresses toward closing its merger with MidAmerican Energy Holdings Company. The appointments are effective immediately. “Jack and Charlie are talented and experienced...