FERC

Evergy Announces Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Utilities, Energy, Adelaide Street, Brisbane, Sale, Security (finance), Weather, Kansas Corporation Commission, KCC, Cyprus Securities and Exchange Commission, GAAP, JEC, Growth, EPS, Webcast, FERC, Economic development, Depreciation, EVRG, Investment, COLI, Bank, Insurance, Cryptocurrency, Evergy

Evergy, Inc. (NASDAQ: EVRG) today announced third quarter 2023 GAAP earnings of $351.6 million, or $1.53 per share, compared to GAAP earnings of $428.2 million, or $1.86 per share, for third quarter 2022.

Key Points: 
  • Evergy, Inc. (NASDAQ: EVRG) today announced third quarter 2023 GAAP earnings of $351.6 million, or $1.53 per share, compared to GAAP earnings of $428.2 million, or $1.86 per share, for third quarter 2022.
  • Evergy’s third quarter 2023 adjusted earnings (non-GAAP) and adjusted earnings per share (non-GAAP) were $432.3 million and $1.88, respectively, compared to $460.8 million and $2.00 in 2022.
  • "We are narrowing our 2023 adjusted earnings per share guidance range to $3.55 to $3.65 from $3.55 to $3.75 and establishing a long-term growth target of 4% to 6% off the original 2023 midpoint of $3.65.
  • Adjusted earnings (non-GAAP) and adjusted EPS (non-GAAP) are used internally to measure performance against budget and in reports for management and the Evergy Board.

Edison International Reports Third Quarter 2023 Results

Retrieved on: 
Wednesday, November 1, 2023
Energy, Other Energy, Utilities, SCE, NYSE, International, Edison International, GAAP, Growth, EPS, Risk, Chart, FERC, Customer service, Table, Video game, Pharmaceutical industry, Risk management

Edison International Parent and Other’s third-quarter core loss per share increased year over year, primarily due to higher interest expense.

Key Points: 
  • Edison International Parent and Other’s third-quarter core loss per share increased year over year, primarily due to higher interest expense.
  • “We are pleased with our performance year to date and, combined with the outlook for the fourth quarter, we are confident in reaffirming our 2023 core EPS guidance range,” said Pedro J. Pizarro, president and CEO of Edison International.
  • Management’s third quarter 2023 review included a review of information obtained from settling claims in the 2017/2018 Wildfire/Mudslide Events litigations through the third quarter of 2023, including higher than expected costs to settle claims.
  • As a result of management's third quarter 2023 review, a $475 million increase in estimated losses for the 2017/2018 Wildfire/Mudslide Events as of September 30, 2023 was recorded.

Equitrans Midstream Announces Third Quarter 2023 Results

Retrieved on: 
Tuesday, October 31, 2023
Energy, Utilities, Oil, Gas, EQM, JV, Sale, Q&A, MVP, ETRN, OH, Water, Eureka, Pipeline and Hazardous Materials Safety Administration, Geology, EBITDA, Injection, GAAP, Root cause analysis, Bank statement, Internet, ID, Ohio River, Webcast, FERC, Natural borrowing limit, Google Chrome, Pipeline, PHMSA, Firefox, Rare-earth element, Management, Cryptocurrency, Broadcasting, Security (finance)

Following PHMSA's approval of ETRN's subsequent injection plan, on October 5, 2023, ETRN resumed injections at the storage field.

Key Points: 
  • Following PHMSA's approval of ETRN's subsequent injection plan, on October 5, 2023, ETRN resumed injections at the storage field.
  • For the full-year 2023, ETRN estimates that it will incur approximately $10 million of expenses related to post-incident response activities.
  • ETRN expects to invest a total of approximately $160 million in the project, including approximately $60 million in 2023.
  • ETRN will host a conference call with security analysts today, October 31, 2023, at 10:30 a.m. (ET) to discuss third quarter 2023 financial results, operating results, and other business matters.

Final Days to Register for the Latest United States Electric Power Industry Seminar: Renewable Energy, ISO Markets, and Power Transactions (New York City, United States - November 14-15, 2023)

Retrieved on: 
Friday, November 3, 2023
Renewable energy, Strategic planning, Monolithic kernel, FTR Moto, TAC, Wind, Comprehension, Electricity, OASIS, Carnegie Mellon University, DER, Appendix, Risk management, Risk, Marketing, Magic, Term sheet, Optical disc image, NERC, FERC, ICE, Professional, BESS, LMP, Mechanics, ISO, Natural gas, Cryptocurrency, Public utility, Electric power, Auction

DUBLIN, Nov. 3, 2023 /PRNewswire/ -- The "In-Depth Seminar: Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets, and Power Transactions" training has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • DUBLIN, Nov. 3, 2023 /PRNewswire/ -- The "In-Depth Seminar: Today's U.S. Electric Power Industry, Renewable Energy, ISO Markets, and Power Transactions" training has been added to ResearchAndMarkets.com's offering.
  • If you're seeking a comprehensive understanding of the U.S. electric power industry, including the intricacies of power transactions, this extensive seminar is tailored for you.
  • This program offers a thorough and lucid overview of the U.S. electric power industry's structure, operations, and its current status.
  • Federal vs state regulatory conflicts, and why restructuring today's power industry and the building new power lines is such a complicated task.

Milbank Deepens Global Project, Energy and Infrastructure Finance Regulatory Bench with Addition of Jenna McGrath

Retrieved on: 
Wednesday, November 1, 2023
Milbank, Boston University School of Law, Jenna Arnold, Federal Energy Regulatory Commission, Trans Global Projects Group, Jenna, Electricity, Biophysical environment, Lawyer, Private practice, FERC, Natural Resources, Investment, General counsel, Office of the General Counsel for the Department of the Treasury, Public utility

"Her significant energy regulatory experience will be a tremendous asset to our clients, especially in the domestic energy and power space."

Key Points: 
  • "Her significant energy regulatory experience will be a tremendous asset to our clients, especially in the domestic energy and power space."
  • Ms. McGrath focuses her practice on both transactional and litigation work in the energy regulatory space.
  • "Jenna is market-recognized for her regulatory and litigation work in the energy sector, and she will be an important addition to our team," said Dan Bartfeld , chair of the firm's Global Project, Energy and Infrastructure Finance Group .
  • "Milbank has one of the largest and most successful project, energy and infrastructure finance groups globally," said Ms. McGrath.

CALICHE TO CONSTRUCT WORLD'S LARGEST HELIUM SALT STORAGE CAVERN AT SPINDLETOP COMPLEX

Retrieved on: 
Tuesday, October 31, 2023
Sale, MRI, Federal Energy Regulatory Commission, Helium, GTS, Cave, Growth, FERC, CO2, Magnetic resonance imaging, Class

HOUSTON, Oct. 31, 2023 /PRNewswire/ -- Caliche Development Partners II (Caliche) recently announced plans to construct the world's largest helium salt storage cavern at Golden Triangle Storage (GTS) in Beaumont, TX.

Key Points: 
  • HOUSTON, Oct. 31, 2023 /PRNewswire/ -- Caliche Development Partners II (Caliche) recently announced plans to construct the world's largest helium salt storage cavern at Golden Triangle Storage (GTS) in Beaumont, TX.
  • The project will create the second helium cavern in North America, following Caliche's development and operation of the first such cavern at Coastal Caverns.
  • Caliche is honored to be trusted with the stewardship of this valuable natural resource, especially with the recent changes and possible closure of the US Bureau of Land Management's Strategic Helium reserve.
  • The helium project will be the company's first of five phases of growth at GTS, made possible under its newly received tax abatement agreements.

FlexGen Streamlines Energy Storage Site Upgrade Process

Retrieved on: 
Tuesday, October 31, 2023
FlexGen, Wind, FlexGen Power Systems, Reliability, The Company, NERC, FERC, Safety, BESS, Renewable energy, ERCOT

DURHAM, N.C., Oct. 31, 2023 /PRNewswire/ -- FlexGen Power Systems, Inc. ("FlexGen", or the "Company"), a leading battery energy storage solution and software technology provider, has streamlined its process for upgrading its energy management system to meet the latest utility standards and power market regulations. The company's cutting-edge technology, innovation lab, and efficient processes make the successful installation of upgrades significantly easier for energy storage owners, and sets a new industry benchmark by reducing the average upgrade time by a staggering 75%. The upgrades were completed on BESS projects in ERCOT, known for its stringent standards, and similar updates are achievable in each energy market across the United States.

Key Points: 
  • DURHAM, N.C., Oct. 31, 2023 /PRNewswire/ -- FlexGen Power Systems, Inc. ("FlexGen", or the "Company"), a leading battery energy storage solution and software technology provider, has streamlined its process for upgrading its energy management system to meet the latest utility standards and power market regulations.
  • Providing system upgrades quickly has risen in importance as grids across the country come to rely on energy storage for energy deployment, grid reliability, and other ancillary services.
  • Our team is dedicated to driving innovation and delivering the best energy storage solutions to our customers," said Hugh Scott, Chief Technology Officer at FlexGen.
  • FlexGen's industry-leading HybridOS energy management system delivers the full stack of energy storage value, including ancillary services, capacity, and energy market trading.

Ampacimon Welcomes Former Federal Energy Regulatory Commission Chairman, Neil Chatterjee, to the Company’s Board of Directors 

Retrieved on: 
Wednesday, October 25, 2023
Knowledge, Policy, Heart, Federal Energy Regulatory Commission, Government, Legislation, Carbon, National Rural Electric Cooperative Association, FERC, Senate, Public utility, Renewable energy

GRÂCE-HOLLOGNE, Belgium and ATLANTA, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Ampacimon , the leading provider of grid monitoring and analytics solutions for optimal operation of the world’s critical energy infrastructure, today announces the appointment of Neil Chatterjee, former commissioner and chairman of the Federal Energy Regulatory Commission (FERC) of the United States, to the company’s Board of Directors.

Key Points: 
  • GRÂCE-HOLLOGNE, Belgium and ATLANTA, Oct. 25, 2023 (GLOBE NEWSWIRE) -- Ampacimon , the leading provider of grid monitoring and analytics solutions for optimal operation of the world’s critical energy infrastructure, today announces the appointment of Neil Chatterjee, former commissioner and chairman of the Federal Energy Regulatory Commission (FERC) of the United States, to the company’s Board of Directors.
  • “Improving our energy infrastructure and promoting the wider adoption of clean energy is a national imperative,” said Mr. Chatterjee.
  • “As an active advocate for America’s transition to clean energy, I look forward to lending my experience as Ampacimon expands its U.S. footprint.
  • Previously he served as FERC chairman from August 2017 to December 2017, and again from October 2018 to November 2020.

NiSource Inc. announces Federal Energy Regulatory Commission approval of sale of 19.9% equity interest in NIPSCO

Retrieved on: 
Thursday, October 19, 2023
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, NIPSCO, Public service company, NiSource, NYSE, Federal Energy Regulatory Commission, Acquisition, BX, Partnership, FERC, CFO, Safety, Blackstone

NiSource Inc. (NYSE: NI) (“NiSource”) announced today the Federal Energy Regulatory Commission (FERC) granted approval of the acquisition of a 19.9% equity interest in the company’s Northern Indiana Public Service Company LLC (NIPSCO) subsidiary by an affiliate of Blackstone Infrastructure Partners (NYSE: BX).

Key Points: 
  • NiSource Inc. (NYSE: NI) (“NiSource”) announced today the Federal Energy Regulatory Commission (FERC) granted approval of the acquisition of a 19.9% equity interest in the company’s Northern Indiana Public Service Company LLC (NIPSCO) subsidiary by an affiliate of Blackstone Infrastructure Partners (NYSE: BX).
  • As previously announced, upon closing of the transaction, the Blackstone affiliate will acquire a 19.9% equity interest in NIPSCO Holdings II LLC, which owns all of the equity interests of NIPSCO, and NiSource will own the remaining 80.1% of NIPSCO Holdings II LLC.
  • “We are pleased to have received FERC’s approval of the proposed transaction with Blackstone Infrastructure Partners,” said Shawn Anderson, NiSource's executive vice president and CFO.
  • “Following the transaction close, NiSource’s balance sheet will be strengthened and positioned to support an ongoing robust capital expenditures program.

Voltus Drives Energy Transition Victory as Missouri Commission Votes Unanimously to Support Consumer Access to Wholesale Power Markets

Retrieved on: 
Monday, October 16, 2023
Storm, DER, Michigan Public Service Commission, DTE Energy, Missouri Public Service Commission, SPP, VPP, Weather, MPSC, February 13–17, 2021 North American winter storm, Electricity, GW, Midcontinent Independent System Operator, MISO, Walmart, SAN, Consumers Energy, Bundesverband der Energie- und Wasserwirtschaft, Monolithic kernel, FERC, Electric power, Renewable energy

On October 12, 2023, the Missouri Public Service Commission (MPSC) unanimously ruled to reverse their FERC Order 719 opt-out .

Key Points: 
  • On October 12, 2023, the Missouri Public Service Commission (MPSC) unanimously ruled to reverse their FERC Order 719 opt-out .
  • Missouri’s Public Service Commission opted out of FERC Order 745 in 2010 ( Order Temporarily Prohibiting the Operation of Aggregators of Retail Customers ).
  • In February of 2021, the MPSC invited comments on how the commission should respond to FERC Order 2222.
  • Voltus, Walmart, and other parties participated in workshops and submitted briefs in support of reversing the opt-out.