Top Northern Appalachia coal mines boosted production nearly 2% over 2018 levels
Despite a pullback in export demand rippling through the broader U.S. coal market, top producers in the Northern Appalachia Basin cumulatively held production levels pretty flat year over year in 2019. The top 25 coal mines in the region produced about 94.5 million tons of coal, a 1.7% increase compared to 2018 levels at the same mines, according to an S&P Global Market Intelligence analysis.
Enbridge targets Gulf Coast with LNG, oil pipeline projects
Enbridge Inc. has its sights set on the U.S. Gulf Coast as it seeks to bolster its natural gas and oil-hauling business. The Calgary, Alberta-based company had very little presence in the Gulf Coast a decade ago, but it has a new strategy to leverage its footprint for options to capitalize on the future of LNG in a region that hosts some of the most competitive refiners in the world.
Financiers warming to battery storage despite concerns with stand-alone projects
Battery storage is suffering from growing pains as the industry matures, according to panelists at S&P Global Market Intelligence's 33rd Annual Power and Gas M&A Symposium. But the technology's attractiveness seems likely to ultimately outweigh any pitfalls, and banks are slowly warming to backing stand-alone battery assets.
Merchant tails on renewable assets a growing concern for power finance sector
Power finance dealmakers are finding that power purchase agreements that last for the life of a renewable asset are increasingly rare and difficult to line up as banks continue to show an aversion to merchant tails on contracted projects, speakers at the S&P Global Market Intelligence 33rd Annual Power and Gas M&A Symposium said.
Other energy headlines
* Uinta Basin coal production was down 1.0% in 2019 compared to output from the same mines in 2018, an S&P Global Market Intelligence analysis shows.
* Hydro One Ltd. and Ontario Power Generation Inc. established a new company that would create Ontario's "largest and most connected" electric vehicle fast-charger network.
* Integrated oil and gas company Eni SpA and Italian investment bank Cassa depositi e prestiti SpA-controlled private equity firm CDP Equity received the approval of the European Commission to create a joint venture named GreenIT.
* The European Investment Bank and Public Power Corp. SA signed a second 20-year loan agreement totaling €100 million for the reinforcement and modernization of Greece's power grid.
The first month of 2020 saw the oil and gas sector announce 16 fewer whole-company and minority-stake deals compared to January 2019 — 28 deals compared to 44. The combined publicly disclosed value of those deals also fell from nearly $12.6 billion to about $570 million.
Research and data
* RRA Regulatory Focus: Texas PUC OKs CenterPoint rate case settlement, adds no dividend restrictions
* Financial Focus: Duke shares up on earnings, capex and ESG; utilities keep pace with market
Top pick of the day
Green groups hail 'end for new coal' as Polish utilities put 1-GW project on ice
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