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PM Edition: FirstEnergy Solutions bankruptcy plan gets nod; Peabody to shut mine


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PM Edition: FirstEnergy Solutions bankruptcy plan gets nod; Peabody to shut mine

Top News

Judge confirms FirstEnergy Solutions' bankruptcy plan

U.S. Bankruptcy Judge Alan Koschik on Oct. 16 confirmed the Chapter 11 reorganization plan of FirstEnergy Solutions Corp., its subsidiaries and FirstEnergy Nuclear Operating Co. The approved plan calls for the separation of FirstEnergy Solutions from FirstEnergy Corp. upon the effective date and incorporates a court-approved agreement between the two entities.

Another Peabody mine to shut down amid need for Illinois Basin consolidation

Peabody Energy Corp. announced another mine closure in the Illinois Basin, further evidence of what experts have called the start of much-needed consolidation in the region. The Wildcat Hills underground mine produced about 1.4 million tons of coal in 2018 and will go offline in December.

Federal safety agency struggling to meet goals for inspecting gas storage sites

The U.S. Pipeline and Hazardous Materials Safety Administration appears to lack the resources necessary to conduct inspections at about 400 natural gas storage sites by early 2023, a target it set after a massive 2015 gas leak, according to the U.S. Government Accountability Office.

Other energy headlines

* Several European utilities analyzed by S&P Global Market Intelligence, including six of the 15 largest by market capitalization, are expected to beat their earnings performance from the third quarter of 2018, although analysts estimated that many could fare worse than during the second quarter this year.

* S&P Global Ratings assigned a negative outlook to Western Midstream Operating LP's BBB- corporate-level credit rating because the pipeline operator is no longer a "strategic" component of independent driller Occidental Petroleum Corp.'s business.

* Fast-growing demand for electricity in the Permian Basin in West Texas is creating challenges for electric generation and transmission projects, industry officials said, but grid planners, regulators and industry officials are working to expedite planning and construction, aiming to reduce large grid congestion costs.

* Japan will run its first methane hydrate production test jointly with the U.S. on the Alaska North Slope following drilling work in 2020-2021, as the resource-poor country accelerates technological developments to commercialize output at home, Japan's Ministry of Economy, Trade and Industry said.


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U.S. solar panel imports continued climbing during the third quarter as project developers rushed to cash in on an expiring tax incentive, pushing up deliveries close to where they were in late 2017 before President Donald Trump imposed tariffs on most foreign-made equipment.

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