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PM Edition: Utility M&A muted in Q3; fallout over fired auditor spreads

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PM Edition: Utility M&A muted in Q3; fallout over fired auditor spreads

Top News

Minimal deal activity barely budges utility M&A adviser rankings in Q3'19

The third quarter's quiet deal activity only slightly changed M&A league table rankings for the U.S. utility sector's top financial and legal advisers, according to data from S&P Global Market Intelligence, which also released third-quarter capital markets league tables for the utility and oil and gas sectors.

Fallout over fired National Grid auditor spreads from New York to Connecticut

Plagiarism allegations tied to utility audits in New York have driven the Connecticut Public Utilities Regulatory Authority to take steps to see if similar problems cropped up in its own state. The regulator asked a consulting firm that has audited natural gas utilities in the state to review work by the subcontractor that was recently fired in New York related to a study of National Grid USA operations.

'Tip of the iceberg': Enel eyes growth of corporate green power deals in Europe

Javier Vaquerizo Alonso, head of the commercial office at Italian utility Enel SpA's global renewable subsidiary Enel Green Power, spoke to S&P Global Market Intelligence about the state of the market and what is needed to spur further growth in corporate power purchase agreements.

Other energy headlines

* The International Maritime Organization will lower the marine fuel sulfur cap from 3.5% to 0.5% on Jan. 1, 2020, a move that could strain already tight supplies of middle distillates in the U.S. and boost margins for manufacturers of the fuel this winter, according to experts.

* Pipeline and property rights advocates on Oct. 9 offered competing visions of changes needed to ease tensions over landowner interests as a major U.S. natural gas pipeline buildout continues linking production to domestic and international demand.

* Teck Resources Ltd. has yet to nail down plans for possible cost controls such as job cuts amid "challenging conditions," a company spokesperson told S&P Global Market Intelligence in response to inquiries about a media report that said the natural resources company plans to cut jobs at Canadian metallurgical coal operations.

ChartWatch

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Xcel Energy Inc., one of the first major investor-owned utilities in the U.S. to announce a goal to decarbonize its power fleet, plans to cut emissions from its generation facilities 80% from 2005 levels by 2030 and to deliver carbon-free power by 2050.

Research and data

RRA Regulatory Focus: Consumers Energy gets constructive outcome in latest Mich. gas rate case

RRA Regulatory Focus: After minor hiccup, UGI's gas rate order to become final

Top pick of the day

Nuclear is too slow, costly to stop climate change, says status report

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