Top News
Calif. regulators deny SDG&E's recovery of litigation costs of 2007 wildfires
Despite protests by California's major investor-owned utilities, regulators denied San Diego Gas & Electric Co.'s request to recover $379 million in 2007 wildfire litigation costs.
Enbridge's plan to lower leverage, refine focus earns quick praise
Enbridge Inc.'s strategic plan earned positive reviews from Wall Street as stock rose and analysts lauded the North American midstream giant's tighter focus as it maps out a C$22 billion capital program and dividend increases.
Bill banning social cost of carbon in policymaking gets House panel's OK
A U.S. House committee has voted to pass a bill that would ban federal agencies from taking into account the social cost of greenhouse gas releases in policymaking.
Power
* Targeting the nearly four-decade-old Public Utility Regulatory Policies Act, U.S. Rep. Tim Walberg, R-Mich., introduced the PURPA Modernization Act of 2017 in a bid to rewrite the landmark 1978 law with "new realities in mind," the congressman announced Nov. 29.
* After three years of contention, Dakota Plains Energy terminated its easements with 122 property owners for the planned 1,000-MW Dakota Power Community wind project in Lincoln County, S.D., a move that could derail the long-planned project, the Sioux Falls (S.D.) Argus Leader reported.
* Gulf Pacific Power agreed to acquire an 80% cash equity stake in Rocky Caney Wind LLC from Enel Green Power North America for an undisclosed sum. Rocky Caney owns the 200-MW Caney River facility in Elk County, Kan., and the 150-MW Rocky Ridge facility in Kiowa and Washita counties, Okla. Gulf Pacific Power is backed by California Public Employees' Retirement System and affiliates of Harbert Management Corp.
* The U.S. Department of Energy's grid resiliency proposal was the product of an indecisive conservative energy agenda that has pulled the Trump administration in different directions, some of which are incompatible, an executive at competitive power generator NRG Energy Inc. said.
* EDF Renewable Energy signed a contract to supply Alphabet Inc. subsidiary Google Inc. with 200 MW of electricity from the planned Glaciers Edge wind project in Cherokee County, Iowa. The project is expected to go online in December 2019, and will bring the EDF Renewable's wind portfolio in Iowa to 1.1 GW.
* New England's grid operator expects to have adequate resources to meet consumer demand for electricity for the 2017-2018 winter season, but it warned once again that the region's growing dependency on a constrained supply of natural gas presents risks for the future.
* The U.S. Environmental Protection Agency finalized a rule that establishes the required renewable fuel volumes under the Renewable Fuels Standard program for 2018, and biomass-based diesel for 2019. "Maintaining the renewable fuel standard at current levels ensures stability in the marketplace and follows through with my commitment to ... upholding the rule of law," EPA Administrator Scott Pruitt said in a news release.
* Wataynikaneyap Power has commenced construction of the 117-kilometer Pikangikum transmission line that will connect Pikangikum First Nation to Ontario's power grid in Red Lake, as part of a program to cut emissions through the elimination of diesel generation. The project is the first phase of the larger 1,800-kilometer Wataynikaneyap Power transmission project to connect 17 First Nations to the Ontario power grid.
* More than 100 mayors and municipal officials from U.S. and Canada have come out in opposition to Ontario Power Generation Inc.'s proposed nuclear waste facility near Lake Huron, The Canadian Press reported. In a letter to Canada's Minister of Environment and Climate Change Catherine McKenna, the officials said they "are deeply concerned that Ontario Power Generation (OPG) is proposing to bury nuclear waste in close proximity to the Great Lakes."
* Utah-based Blue Castle Holdings Inc. plans to provide 500 MW of electricity through a new exchange, dubbed Power Block Exchange, to help meet the needs of blockchain miners, according to a news release.
* Texas Electric Cooperatives Inc. formed an alliance with Comanche Electric Cooperative Association, a move that brings approximately 5,000 miles of line and more than 16,000 meters in seven counties into areas already served by Texas Electric alliance partnerships, according to a news release
* Westinghouse Electric Co. LLC appointed Ken Canavan as chief technology officer, effective Jan. 2, 2018. Canavan most recently served as director of engineering for the Electric Power Research Institute.
* Jersey City, N.J.-based data analytics provider Verisk Analytics Inc. agreed to acquire Boston-based PowerAdvocate for $200 million in cash. The deal also includes an earnout of up to $80 million, subject to the achievement of specific return goals. "The acquisition will expand Verisk's existing offerings to the energy sector by adding PowerAdvocate's proprietary spend data and cost models," said Scott Stephenson, Verisk chairman, president and CEO. Its solutions are targeted at our existing customers, and will grow more rapidly by being on our platform."
Natural gas/Oil
* CenterPoint Energy Inc. disclosed in a SEC filing that the late-stage discussions regarding a transaction involving CenterPoint Energy Resources Corp.'s stake in Enable Midstream Partners have terminated "because the parties could not reach agreement on a mutually acceptable transaction."
* Billionaire investor Carl Icahn blasted the board of SandRidge Energy Inc. for adopting a "poison pill" measure he said is designed to stifle shareholders who want to block a pending $746 million merger with fellow driller Bonanza Creek Energy Inc.
* Of 1,200 required permits, the planned C$7.4 billion Trans Mountain pipeline project only has 66 permits to be able to pass through British Columbia to the tidewater, The Canadian Press reported. Kinder Morgan Canada Ltd. President Ian Anderson said the pipeline "is in danger of getting bogged down because of persistent permitting delays."
* The U.S. Bureau of Land Management plans to offer 170 parcels, totaling about 170.5 acres, in the High Plains District and Wind River/Bighorn District in Wyoming during its March 2018 quarterly oil and gas lease sale, according to a news release. Bidding will start March 21, 2018, and will conclude March 22, 2018.
* Rimrock Energy Partners LLC started construction of an up to 200-MMcf/d natural gas processing facility and gas gathering system in Weld County, Colo. The new system will serve producers in the northwest portion of the DJ Basin's Wattenberg Field.
* The Delaware River Basin Commission posted draft regulations that would ban hydraulic fracturing, or fracking, in the region surrounding the river. The commission, which is made up of the governors of New York, New Jersey, Pennsylvania and Delaware along with representatives from the federal government, posted draft rules that include the fracking ban on its website Nov. 30.
* The U.S. Interior Department's Office of Natural Resources Revenue disbursements from energy and minerals production on Federal and American Indian lands and offshore areas increased nearly $1 billion year over year to $7.11 billion in fiscal year 2017, according to a press release. Of that amount, states received $1.44 billion, tribal governments and individual mineral rights owners received approximately $676 million, and $950 million were given to the Land and Water Conservation Fund.
* Colorado's Dacono City Council implemented a six-month moratorium on allowing new oil and natural gas operations, as the city looks to examine its outdated oil and gas development regulations on an emergency basis, the Times-Call of Longmont, Colo., reported.
* ArcLight Capital Partners LLC-backed Greylock Energy has acquired substantially all of the gas production and midstream assets of Energy Corp. of America. Concurrently, Greylock Energy acquired membership interests in First ECA Midstream LLC, which owns several gathering and transmission pipeline systems in a joint venture with ECA. The acquired assets include more than 4,400 operated wells, about 713,000 net deep acres and 2,600 miles of gathering assets.
* Vectren Corp. utility Vectren Energy Delivery and an excavating company are facing a $19,500 fine for rupturing underground natural gas pipelines while installing cable lines for MetroNet in Carmel and Fishers, Ind., earlier this year, the Indianapolis Star reported. The fine was imposed by the Indiana Utility Regulatory Commission, which also issued warnings letters four other companies for damaging gas lines.
Coal
* A U.S. House committee has voted to pass a bill to ban future federal coal lease moratoriums without congressional approval. On Nov. 30, the House Committee on Natural Resources voted 17-12 to pass H.R. 1778, introduced in March by Rep. Liz Cheney, R-Wyo., without amendments.
* CNX Resources Corp., formerly known as Consol Energy Inc., amended its credit agreement to reduce the maximum facility amount under the agreement to $2.0 billion from $2.5 billion, to reduce the letter of credit sublimit available to the company, and to cap the revolving credit commitments at $1.5 billion, according to a filing.
* Dominion Energy Inc. subsidiary Dominion Energy Virginia has an option to recycle the approximately 30 million tons of coal ash it is storing at four of its Virginia power facilities, according to a new study from the University of New Hampshire. The study further states the recycling of coal-ash is feasible and cost effective to handle the toxic material.
* The Pennsylvania Department of Environmental Protection will be accepting public comments on Corsa Coal Corp. subsidiary Wilson Creek Energy, LLC's proposed Keyser deep mine in Somerset County, Pa.
* Foresight Energy LP issued a notice to holders of warrants to acquire newly issued common units of the company. Foresight lowered the exercise price and increased the number issuable due to the payment of a cash dividend of 6.05 cents per share, according to a company filing.
Commodities
* Indicative of the turning tides in oil prices and its balance sheet, Royal Dutch Shell plc will restart its share buyback program, as the company hiked its forecast for cash generation.
* OPEC ministers on Nov. 30 agreed to a nine-month extension of their production cut agreement through the end of 2018 and will call on Libya and Nigeria not to exceed a combined output of 2.8 million barrels per day, Iranian oil minister Bijan Zanganeh told reporters.
* After ending the prior session down 15.4 cents at $3.025/MMBtu, NYMEX January 2018 natural gas futures were higher overnight ahead of the Friday, Dec. 1, open, as the market advanced amid colder weather outlooks.
* Power dailies could end the workweek biased higher Friday, Dec. 1, as forecasts for generally elevated demand coming off the weekend combine with renewed gains in natural gas futures trading.

New from RRA
* The Virginia State Corporation Commission has for the second time this year lowered the base return on equity used to calculate the annual revenue requirement adjustments under Virginia Electric and Power Co.'s various rider mechanisms.
Quote
"In 2017, the conversations have really changed, where there is a lot of interest in true [environmental, social and governance standards] integration at the portfolio level. There are certain regions around the world where ESG integration is table stakes ... and the U.S. is probably the laggard in these conversations," State Street Global Advisors Executive Vice President and Chief Investment Officer of Global Equity Beta Solutions Lynn Blake said while speaking at the Sustainability Accounting Standards Board symposium in New York.
The day ahead
* Dominion Energy Inc. will release its assessment on its coal ash pits today.
* Early morning futures indicators pointed to a lower 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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