Overpowered: Eyeing zero-carbon grid, California seeks a gas exit strategy
California, the world's fifth largest economy, is making headway in its goal to boost its renewable energy purchases to 60% of retail electric sales by 2030, almost twice as much as in 2018. But questions remain about how the state can turn off natural gas generation that remains essential to keeping lights on.
This is the fifth story in a five-part series exploring oversupply in the power sector and the factors driving a glut of natural gas-fired power plants.
FERC probes ties between potential El Paso Electric buyers and JPMorgan
The buyers behind the proposed sale of El Paso Electric Co. will need to provide the Federal Energy Regulatory Commission with more details concerning an investment fund's relationship with a JPMorgan Chase & Co. subsidiary before the agency signs off on the deal.
Ga. PSC staff, analysts play waiting game with potential Vogtle delays
The expansion project for the Alvin W. Vogtle Nuclear Plant could see more delays and cost overruns, according to Georgia regulators. Analysts, though, said it remains a waiting game to see how Georgia Power Co. and its partners proceed with the remaining construction.
Gas gathering contracts safe from customer credit woes, Williams CEO says
Alan Armstrong, Williams Cos. Inc.'s president and CEO, blasted investors' concerns that potential producer customer bankruptcies could imperil natural gas gathering contracts.
Other energy headlines
* Spanish oil and gas company Repsol SA's plan to reduce carbon emissions to net zero by 2050 is attainable and likely to prompt other oil majors to follow its lead, market sources said.
* A bankruptcy court approved Cloud Peak Energy Inc.'s disclosure statement and confirmed its bankruptcy reorganization plan, nearly seven months after the Powder River Basin producer filed for bankruptcy protection.
* Connecticut regulators selected Vineyard Wind LLC to provide 804 MW of offshore wind power through the company's proposed Park City Wind Offshore project.
* The Electric Reliability Council Of Texas Inc. increased its forecast planning reserve margin for next summer, reflecting a lower forecast peak load and an increase in renewable capacity expectations.
With Marcellus and Utica shale volumes shrinking amid struggling commodity prices, analysts and credit rating agencies have warned that gathering and processing credit profiles could take a hit in 2020. Williams has responded to Appalachian growth forecasts by lowering its expected Northeast gathering and processing spending for 2019 from $1.1 billion to $730 million.
Research and data
* Financial Focus: PG&E soars on rumored $13.5B wildfire liability settlement, utilities outperform
* RRA Regulatory Focus: Merger activity, election results take over regulatory sphere during November
Top pick of the day
Overpowered: Hailing renewables, NextEra bet big on gas in Florida
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