Top News
On new energy frontier, solar-plus-storage plants proliferate
The solar energy industry has achieved its long-time quest to become cost-competitive with conventional power across wide swaths of the United States. Now it is on to a new mission: saving that energy for later.
Much of US energy industry recoils at Trump plan to prop up at-risk power plants
A plan to force grid operators to buy power from at-risk coal and nuclear power plants went over well with some connected to those industries but prompted a swift backlash from a larger group of energy stakeholders.
Wall Street warns worst may be yet to come for PG&E exposure to wildfires
The four wildfires tied to Pacific Gas and Electric Co. power lines are "small potatoes" compared to the larger investigation into several deadly October 2017 blazes that engulfed Northern California, Wall Street analysts warn.
Petronas' involvement with Canadian LNG export project a win for stranded shale
Petroliam Nasional Berhad's deal for 25% of a planned LNG export megaproject in British Columbia will provide an outlet for displaced western Canadian shale supplies while supporting a potential expansion of liquefaction facilities, according to experts.
Quoted
"There is no national emergency justifying the use of these powers. Independent experts, regional grid operators, and even the government's own data show that competitive electricity markets keep the lights on and prices affordable," Michael Steel, a spokesperson for the Affordable Energy Coalition, said in response to the Trump administration's plan to force grid operators to buy power from at-risk coal and nuclear power plants.
Power
* Northeastern U.S. power markets are straining to deal
* Exelon Corp. is challenging a requirement by the state of Maryland to clean pollutants that gather at its Conowingo Dam, The Baltimore Sun reported.
* The planned closure of Exelon's Oyster Creek
* Public Service Enterprise Group Inc. executives said they believe two nuclear plants they own and operate in their home state of New Jersey have an advantage over other regional nuclear facilities in complying with a new state law.
* A bill to extend renewable energy incentives for biomass in Rhode Island will not advance, amid opposition from environmental groups and a veto threat by Gov. Gina Raimondo, the Providence (R.I.) Journal reported.
* The U.S. Environmental Protection Agency will deny petitions by Delaware and Maryland to reduce emissions from power plants in five upwind states, according to The Associated Press.
* Tesla Inc. shareholders are set to decide tomorrow whether to oust three directors and remove Elon Musk as board chairman, The Los Angeles Times reported.
Natural gas
* As pipeline opposition groups challenge the concept of tolling orders, the Federal Energy Regulatory Commission denied requests that it reconsider such an order giving it more time to decide whether to hold a rehearing of its approval of PennEast Pipeline Co. LLC's 1.1-Bcf/d natural gas pipeline.
* The Maryland Public Service Commission approved South Jersey Industries Inc.'s proposed acquisition of Elkton Gas Co. from a Southern Co. Gas subsidiary. The acquisition is part of a larger transaction that also includes the purchase of New Jersey-based Elizabethtown Gas Co. Inc.
* Permian Basin producers with limited oil transportation options might find themselves facing a second and greater dilemma in the near future: associated natural gas production that continues to surge with few major pipeline projects on the horizon to move it.
* S&P Global Ratings recently placed all ratings of Enbridge Energy Partners LP on CreditWatch with positive implications, after the proposed buy-in of the partnership's outstanding equity securities by Enbridge Inc.
Oil
* The board of directors of Petroleo Brasileiro SA named interim CEO Ivan de Souza Monteiro as the company's new CEO following the June 1 resignation of Pedro Parente from the role.
* Qatar Petroleum has agreed to acquire a 30% interest in two of Exxon Mobil Corp. affiliates in Argentina. The affiliates hold interests in hydrocarbon licenses for seven blocks in the Vaca Muerta play in the Neuquén Basin in Argentina.
* Production of crude oil and natural gas across the U.S. continued to soar in March as natural gas production stands almost 10% higher year on year and crude oil output remains on pace to break all-time highs this year.
* A group of 28 subcontractors is seeking as much as $100 million in damages from Valero Energy Corp. following a fire and explosion that occurred April 19 at a 12,000-barrel-per-day alkylation unit at the company's Texas City oil refinery.
* The U.S. Fish and Wildlife Service has deemed the seismic application for work in the Arctic National Wildlife Refuge by two Alaska Native corporation and an oil services firm as inadequate, the Anchorage (Alaska) Daily News reported.
Coal
* A tax proposed by the Turkish government on a range of imported products from the U.S., including thermal coal, could potentially price U.S. coal out of Turkey, which could be bullish for Colombian sellers, market sources said May 31.
* Institutional investors, including some of major U.S. pension funds, are calling on the Group of Seven leaders to "phase out terminal coal power worldwide by set deadlines" ahead of G7 summit in Canada, Reuters reported.
* The U.S. Government Accountability Office plans to release a report that would show the risk of insolvency of The Black Lung Disability Trust Fund due to increasing debt and a scheduled tax cut, according to Reuters.
ChartWatch
Natural gas flows to Cheniere Energy Inc.'s Sabine Pass LNG export terminal fell off from April to May, continuing a downward trend since they hit a record high of nearly 100 Bcf in March.

The day ahead
* Early morning futures indicators pointed to a higher 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.

The Daily Dose is updated as of 7:30 a.m. ET. S&P Global Market Intelligence provides links to external sites where these offer further, relevant information to our readers. While we ensure that such links are functional at the time of publication, we are not responsible in instances where those links are unavailable later.
