PJM Moves Toward Pay-for-Performance Pricing

Beacon Power Corporation a leading provider of fast-response energy storage systems and services to support a more stable, reliable and efficient electricity grid, announced that the PJM Interconnection recently began the formal process to implement pay-for-performance regulation pricing in its geographic area, the largest electricity market in the United States. With pay-for-performance pricing, Beacon would be eligible to earn increased revenue... Read more..

FirstEnergy-Allegheny Energy Merger Filing Clears U.S. Department of Justice Review

FirstEnergy Corp. and Allegheny Energy, Inc.today were notified that the U.S. Department of Justice (DOJ) completed its review of the companies’ proposed merger and has closed its investigation. “We are pleased to have completed the DOJ review process — another important step in our merger with Allegheny Energy,” said Anthony J. Alexander, President and Chief Executive Officer of FirstEnergy. “With both key federal clearances... Read more..

Spectra Energy Files FERC Application for New Jersey-New York Expansion

Spectra Energy Corp today filed an application with the Federal Energy Regulatory Commission (FERC) for the expansion of its Texas Eastern Transmission and Algonquin Gas Transmission interstate pipeline systems to transport new, critically needed natural gas supplies to high demand markets in northern New Jersey and New York City.The New Jersey-New York Expansion Project, which will eliminate existing bottlenecks in the region’s interstate transmission... Read more..

OPUC Rules on PGE 2011 General Rate Case

The Oregon Public Utility Commission (OPUC) today announced its decision regarding Portland General Electric Company’s 2011 general rate case, ending a public review process that began in February 2010. The commission approved an overall price increase of approximately 3.9 percent, which will be allocated across all PGE customer classes. Together with other pending adjustments reflecting various credits and amortization of deferred 2010 costs, customers... Read more..

OPUC Rules on PGE 2011 General Rate Case

The Oregon Public Utility Commission (OPUC) today announced its decision regarding Portland General Electric Company’s 2011 general rate case, ending a public review process that began in February 2010. The commission approved an overall price increase of approximately 3.9 percent, which will be allocated across all PGE customer classes. Together with other pending adjustments reflecting various credits and amortization of deferred 2010 costs, customers... Read more..

ENER1 Shareholders Appoint Four New Directors to Board

ENER1, Inc. a leading manufacturer of lithium-ion energy storage systems for transportation, utility grid and consumer electronics applications, today announced that its shareholders have approved the appointment of four new members to its board of directors. The new directors are Nora Brownwell, Wilber James, Greg Kasagawa and Stanislav Shekshnia. The appointments were made yesterday during the company’s annual shareholders meeting and are... Read more..

Puget Sound Energy Purchases Mint Farm Power Plant

Puget Sound Energy last week completed the $240 million purchase of a 310-megawatt natural gas-fired power plant in Longview, Wash., the latest step in the utility’s long-range effort to ensure a reliable, cost-effective energy supply for its growing customer base in Western Washington. PSE signed an agreement in September to buy the 11-month-old “Mint Farm” power-generating facility from Minnesota-based Wayzata Opportunities Fund, LLC. A November... Read more..

Leaf River Energy Center LLC Receives FERC’s Certificate of Necessity for Natural Gas Storage Facility

Leaf River Energy Center LLC, a wholly owned subsidiary of Westport, CT based NGS Energy LP announced today the Federal Energy Regulatory Commission (FERC) has issued a Certificate of Public Convenience and Necessity authorizing Leaf River to develop and operate a salt dome natural gas storage facility and the associated pipeline infrastructure. Leaf River is expecting to file for Authorization to Commence Construction with the FERC next week and... Read more..

Commerce Energy Sells Texas Retail Electric Business for $14.8 Million

Commerce Energy Group, Inc. said that its principal operating subsidiary, Commerce Energy, Inc., sold all of its retail electric service contracts in Texas to Ambit Energy, LP (Ambit), for an estimated $14.8 million. The purchase price includes $8.5 million in cash received on closing, a second payment of $2.7 million, reduced by customer deposits and adjusted for final customer count, to be received on or before November 24, 2008 and deferred payments... Read more..

Ocean Power Technologies Wins New $2M Award from US Department of Energy

Ocean Power Technologies, Inc. announces that it has received a US$2.0 million award from the US Department of Energy (DoE), in support of OPT’s wave power project in Reedsport, Oregon. The DoE grant will be used to help fund the fabrication, assembly and factory testing of the first PowerBuoy® to be installed at the Reedsport site. This system will be a 150 kilowatt-rated PB150 PowerBuoy, major portions of which will be fabricated and integrated... Read more..