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PM Edition: NextEra joins $100B market cap club; Marathon posts widest pay ratio

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PM Edition: NextEra joins $100B market cap club; Marathon posts widest pay ratio

Top News

NextEra becomes 1st US power company to join the $100B market cap club

NextEra Energy Inc. became the first U.S.-headquartered power company to surpass $100 billion in market capitalization during the third quarter. The company recorded a 13.8% quarter-over-quarter increase in market cap to $111.63 billion, cementing its first-place spot on the list of the top 20 U.S. electric and multiutility companies by market cap as of Sept. 30, according to data compiled by S&P Global Market Intelligence.

NextEra, Duke Energy, Emera confirm participation in JEA solicitation

NextEra, Duke Energy Corp. and Emera Inc. are participating in Florida municipal utility JEA's request for proposals for new ownership structures, including privatization, the utilities confirmed.

Marathon, oilfield service giants report largest pay ratios in oil, gas for 2018

Worker salaries increased at 16 of the top 20 publicly traded U.S. oil and gas companies in 2018 as the compensation gap between top executives and median employees narrowed for several oil and gas companies. Marathon Petroleum Corp. had the largest reported CEO-to-median-employee pay ratio of 714-to-1 and the lowest median pay.

Investor lawsuit over alleged MLP price manipulation can proceed

A lawsuit accusing Loews Corp. of tanking Boardwalk Pipeline Partners LP stock price to buy it out at a discount is getting a second chance after a Delaware judge denied the companies' request to throw out claims that they acted in bad faith and breached a key agreement.

Other energy headlines

* PG&E Corp. utility Pacific Gas and Electric Co. on Oct. 7 warned that preemptive power cuts could affect more than 600,000 customer accounts in 30 northern and central California counties. Edison International's Southern California Edison Co. on Oct. 7 also warned of precautionary outages, affecting possibly more than 106,200 customer accounts in eight counties.

* U.S. Department of Energy officials' attempts to prop up coal-fired power plants have yet to materialize in any policy form, but the agency continues to push for innovations in technology that could support building a new coal-fired power plant in the U.S.

* The U.S. needs to deploy all available low- and zero-carbon resources "in the toolbox" to lower emissions and fight climate change, Entergy Corp. CEO Leo Denault and former U.S. Energy Secretary Ernest Moniz said Oct. 7.

* Occidental Petroleum Corp.'s determination to acquire Anadarko Petroleum Corp. has done enough damage to the company's balance sheet and reputation that it could take years to recover, Houston-based investment bank Tudor Pickering Holt & Co. said Oct. 8.

ChartWatch

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While Pennsylvania issued 27% more permits for new shale wells in September than it did in August, September permitting was 5% below the same month last year, according to Department of Environmental Protection data Oct. 6.

Research and data

Financial Focus: Southern, FirstEnergy, NextEra, Duke utilities have among highest weighted ROEs

Data Dispatch: Northwest hydro generation ends water year 2019 below average

Top pick of the day

Climate concerns drive interest in pairing hydrogen, carbon capture technologies

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