Top News

Glutted solar industry looks to China's budding rooftop market for growth

China's decision to slow the pace of solar-power development and cut financial aid to the industry has plunged the global solar market into uncertainty. But some industry insiders see bright spots in China's domestic solar industry in 2018.

Court decision could delay Atlantic Coast in regulatory 'ripple effect'

Energy analysts were wary that the Federal Energy Regulatory Commission might halt construction on the Dominion Energy Inc.-led 1.5-Bcf/d Atlantic Coast natural gas pipeline after a federal appeals court vacated a permit, but developers insisted the project will still meet a late 2019 in-service date.

EIA hikes Brent, WTI crude price forecasts for 2019

The U.S. Energy Information Administration has increased its forecasts for the spot price of crude oil in 2019.

As federal climate action stalls, Md. governor charts own course

Extreme weather along the coast highlights the need for Maryland Gov. Larry Hogan to take action on climate change — even when it means breaking with the Republican party.

Illinois Basin coal production up year over year on strong export demand

Coal production from the top producers in the Illinois Basin was 4.9% higher in the second quarter compared to a year ago, but declined 1.3% compared to the first quarter of the year.

Quoted

"Am considering taking Tesla private at $420. Funding secured," Tesla Inc. CEO Elon Musk said in a tweet that was later confirmed in an email to employees.

Power

* AES Corp. executives have laid out an ambitious plan to add nearly 12,000 MW of new capacity to the company's portfolio by 2022, fueled in large part by the rapid development of the sPower renewables pipeline.

* Southern Co. subsidiary Georgia Power Co. has increased its share of the projected capital and construction costs for the Alvin W. Vogtle Nuclear Plant to $8.4 billion from $7.3 billion. The revised forecast includes approximately $700 million in additional projected costs, which will be absorbed by the company and have no impact on customer bills.

* The Puerto Rico Electric Power Authority said power has been restored to nearly all of the island after the grid was damaged 11 months ago by Hurricane Maria, according to The Hill in Washington, D.C.

* Bay State Wind LLC is changing the turbine layout of its 800-MW Bay State Offshore Wind Project to accommodate the U.S. commercial fishing industry's ability to work between turbines. But fisheries say the changes are too little, too late and underscore their growing frustration with the offshore wind sector.

* Cypress Creek Renewables LLC secured a $200 million preferred equity investment from Temasek, a Singapore-headquartered investment company.

* Consumer group Citizens Action Coalition said Duke Energy Corp. has overcharged Indiana ratepayers by $1.4 billion in connection with its coal gasification plant in Edwardsport, Ind., Midwest Energy News reported.

* The City Council of Knoxville, Iowa, approved a plan to purchase electricity from Red Lion Renewables, amid a challenge by MidAmerican Energy Co., The Knoxville Journal-Express reported.

Natural gas

* The Federal Energy Regulatory Commission allowed Florida Southeast Connection LLC to pick up a natural gas lateral from affiliate Florida Power & Light Co. and add it to its interstate pipeline system.

* A class-action suit filed against Anadarko Petroleum Corp. claims that the fatal Firestone, Colo., explosion was due to disregard for safety and overworked inspectors, The Denver Post reported.

* The Western Organization of Resource Councils sued the Trump administration for "unlawfully creating" the Interior Department's Royalty Policy Committee, which the group said was stacked with representatives of oil, gas and coal companies.

* The U.S. Energy Information Administration expects natural gas to provide the lion's share of the nation's electricity through 2019.

* Chinese buyers are already seeking alternatives to U.S. LNG, amid the escalating trade dispute between the two countries, Reuters reported.

Oil

* Carrizo Oil & Gas Inc. is reacting to the pipeline shortage in the Permian Basin by diverting capital to the Eagle Ford Shale for at least the remainder of 2018. Investors greeted the news with concern, sending shares down sharply in trading Aug. 7.

* The Canadian federal government may need an additional C$1.9 billion to complete the Trans Mountain pipeline, The Canadian Press reported, citing documents filed by Kinder Morgan Canada Ltd. with the U.S. Security and Exchange Commission.

* The board of directors of state-run oil company Petróleo Brasileiro S.A. - Petrobras approved the distribution of 652.2 million Brazilian reais, equivalent to 5 centavos per share, in early remuneration to shareholders as interest on capital.

* The U.S. Bureau of Land Management is seeking public input on ConocoPhillips Alaska's proposed development of the Willow prospect in the National Petroleum Reserve in Alaska.

Coal

* Despite fierce support for coal from the Trump administration, industry representatives indicated at a recent gathering that they are still seeking strategies to address the challenges facing the sector.

* Coal exports from the Hampton Roads port facilities in Virginia increased 23.8% year over year to 3.4 million tons in July but declined 3.6% from June's total, according to data obtained Aug. 7 from the Virginia Maritime Association.

ChartWatch

Permitting activity in Ohio's Utica Shale slowed by more than half in July as two of the state's top three producers stopped pulling permits for new shale gas wells, according to state data Aug. 7.

New from RRA

* There was a modest amount of rate case activity in July, with a handful of rate case filings and decisions occurring throughout the month. Merger developments continued to be significantly prevalent within the regulatory sphere.

The day ahead

* The EIA Petroleum status report is due out today.

* Early morning futures indicators pointed to a mixed opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.

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