trending Market Intelligence /marketintelligence/en/news-insights/trending/DqwArk3QSZpqo2SFCg32AA2 content esgSubNav
In This List

US states face uneven paths to 100% clean energy; S&P downgrades Gulfport Energy

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


US states face uneven paths to 100% clean energy; S&P downgrades Gulfport Energy

Top News

US states face uneven paths in movement for 100% 'clean energy'

A push from some U.S. lawmakers and presidential candidates to transition the U.S. entirely to renewable or zero-emission electric power poses a bigger challenge for some states than others. But proposals in Congress for utilities to gradually raise sales from renewable or carbon-free sources may offer a more measured path for states to boost clean generation, supporters say.

S&P downgrades shale gas driller Gulfport Energy on low natural gas prices

In what may be the first of several shale gas producers to be downgraded, S&P Global Ratings cut Gulfport Energy Corp.'s credit rating one notch to B+ from BB- Aug. 20 but maintained the company's stable outlook going forward.

Weak coal exports tilt Moody's outlook on sector from stable to negative

Coal producers in North America will see a decline in EBITDA of more than 3% over the next year, triggering Moody's Investors Service to change its outlook on a sector facing an export market showing signs of weakness.

Kinder Morgan assets help Pembina build base, weather market downturn, CEO says

Pembina Pipeline Corp.'s leaders see limited opportunity for immediate, blockbuster profit growth in the company's planned C$4.35 billion acquisition of Kinder Morgan Canada Ltd. and the U.S. stretch of the Cochin pipeline system. However, they said the deal would add high-quality assets to Pembina's portfolio that would help the company thrive in the long-term and continue shareholder payouts even through economic downturns.

Quoted

"This RFP aims to substitute renewables in whatever form we can get online to replace what we are getting from the coal-fired plant, so we won't generate with coal any more in Hawaii," Hawaiian Electric Companies spokesperson Jim Kelly said on the utility's solicitation for proposals for up to 932 MW of renewable energy, as well as energy storage, to replace baseload units, including the 180-MW AES Hawaii coal-fired plant.

Power

* The Supreme Court of Ohio will not reconsider its earlier decision to overturn state regulators' approval of a distribution rider that allowed FirstEnergy Corp.'s Ohio utilities to collect up to $204 million per year from customers.

* Private power plant developer Clean Energy Future is canceling its planned 940-MW Trumbull Energy Center in Trumbull County, Ohio, because of recently approved state legislation that subsidizes two in-state nuclear plants.

* Presidential hopeful Bernie Sanders unveiled a $16.3 trillion Green New Deal plan, which calls for the complete decarbonization of the U.S economy by at least 2050.

* The U.S. Justice Department will no longer use "supplemental environmental projects" in federal settlements with state and local government polluters, The Hill reported, citing a memo by Assistant Attorney General Jeffrey Bossert Clark.

Natural gas

* A federal judge dismissed a lawsuit by Columbia Gas Transmission LLC challenging the decision by Maryland officials to block its proposed gas pipeline project in the state, according to The Associated Press.

* Privately held Commonwealth LNG LLC filed with U.S. regulators a formal application for a permit to build an 8.4-million-tonnes-per-annum LNG export terminal and affiliated feedgas pipeline interconnect in Cameron Parish, La.

* Houston-based Stabilis Energy LLC has entered into two strategic transactions to expand its presence in the distributed LNG and compressed natural gas markets in Mexico.

* Permian Global Access Pipeline LLC asked the Federal Energy Regulatory Commission to take an early look at a proposed pipeline that would run from the Waha gas hub in Texas to a point near Lake Charles, La.

* The Oklahoma Corporation Commission approved the long-running limit on natural gas production from prolific wells, but will revisit the issue after six months instead of after a year, The Oklahoman reported.

* Kansas regulators are analyzing recent injection well activity in Reno County to uncover the cause of a series of earthquakes in the Hutchinson area.

* Exxon Mobil Corp. told the U.S. Environmental Protection Agency that it is against the weakening of the methane gas emission rules introduced by the Obama administration, Reuters reported.

Oil

* Bidders in U.S. Gulf of Mexico Lease Sale 253 on Aug. 21 appeared interested in what may be a new play area in that region's midsection while keeping leasing momentum in a separate potential new play concept they began pursuing in March 2018.

* Royal Dutch Shell PLC's Australian unit is proposing to acquire commercial and industrial electricity retailer ERM Power Ltd. for a cash price of A$617 million less dividend adjustments payable by ERM Power.

* Alberta's government has extended a cap on crude output by a year amid dismal prospects for the easing of pipeline bottlenecks.

* The U.K.'s emergency petroleum stocks will more than halve in the event of a no-deal exit from the EU, the Financial Times reported.

* Russia's Rosneft Oil Co. PJSC has decided to switch from dollars to euros as the default currency of its future tender contracts for oil products, Reuters reported, citing five trading sources.

* Brazilian President Jair Bolsonaro's economic team is seeking to privatize Petróleo Brasileiro SA - Petrobras before the end of Bolsonaro's term in 2022, Reuters reported, citing Brazilian newspaper Valor Economico.

* Horizon Petroleum Ltd. has reached initial close of its acquisition of operated concessions containing a number of undeveloped natural gas discoveries in proven basins in Poland.

Coal

* The Uinta Basin's production sank by 11.5% from the first to the second quarter of the year, though the Western region's coal production was largely stable from the year-ago period, declining just 1.2%.

* The Washington State Court of Appeals sided with the state and environmental groups over a proposed West Coast coal export terminal sublease, reversing and vacating a superior court's orders.

ChartWatch

SNL Image

Ethanol interests are renewing their focus on legal avenues after the apparent failure of their appeals to the Trump administration to curb the granting of biofuel blending waivers.

New from RRA

* If the recommendations put forth recently by the Indiana Office of Utility Consumer Counselor were to be adopted in American Electric Power Co. Inc. subsidiary Indiana Michigan Power Co.'s electric base rate proceeding, Cause No. 45235, the company would barely see any rate increase.

The day ahead

* The U.S. Energy Information Administration natural gas report is due out 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.

SNL Image

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

The Daily Dose has an editorial deadline of 7:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later. S&P Global Ratings and S&P Global Market Intelligence and owned by S&P Global Inc.