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Three More Nuclear Plant Owners Will Demonstrate Hydrogen Production

September 12, 2019

The post Three More Nuclear Plant Owners Will Demonstrate Hydrogen Production appeared first on POWER Magazine.

FirstEnergy Solutions (FES), Xcel Energy, and Arizona Public Service (APS) will demonstrate hydrogen production at three nuclear plants they own starting in 2020 and 2021. The projects, selected as part of the Department of Energy’s (DOE’s) Office of Nuclear Energy’s Advanced Reactor Development Project funding pathway, aim to improve long-term competitiveness of the nuclear sector as more cheap natural gas and renewable power resources flood power markets.

Funded by the DOE, the demonstrations will take place at FES’ Davis-Besse plant in Ohio, APS’ Palo Verde plant in Arizona, and an Xcel nuclear plant in Minnesota.

The three utility awards, which the DOE announced on Sept. 10 as part of the sixth round of funding under the December 2017-issued U.S. Industry Opportunities for Advanced Nuclear Technology Development funding opportunity announcement (FOA), follow a similar selection of a first-of-its-kind project spearheaded by Exelon at a still-to-be determined existing nuclear site in an organized power market under the DOE’s H2@Scale concept.…

PG&E’s Reorganization Plan—Cap Wildfire Liabilities at $18 Billion

September 10, 2019

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The post PG&E’s Reorganization Plan—Cap Wildfire Liabilities at $ 18 Billion appeared first on POWER Magazine.

Pacific Gas & Electric (PG&E) wants to cap its liabilities from damages caused by California wildfires at about $ 18 billion, according to the reorganization plan filed by the bankrupt utility September 9 in federal court in San Francisco. The amount is less than half what creditors, including insurance companies and wildfire victims, say they are owed.

PG&E said it plans to raise a combination of debt and equity to cover its liabilities after the company’s equipment was blamed for starting wildfires in 2017 and 2018 that left more than 100 people dead and caused billions of dollars in property damage. PG&E, the state’s largest utility, filed for Chapter 11 bankruptcy protection in January.

Jason Wells, the company’s chief financial officer, told Bloomberg on Monday, “We currently believe that the caps being outlined in our plan of reorganization are sufficient to satisfy the claims against the company.”…

PG&E Seeking $14 Billion in Restructuring Plan

September 6, 2019

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The post PG&E Seeking $ 14 Billion in Restructuring Plan appeared first on POWER Magazine.

Pacific Gas & Electric (PG&E) reportedly will soon file a restructuring plan that includes more than $ 14 billion in equity commitments, as the utility looks to recover from billions of dollars in liabilities tied to its role in California wildfires that caused the company to file the largest utility bankruptcy in U.S. history.

Bloomberg on September 5 reported that PG&E’s plan, due to be filed September 9, will use a combination of debt and equity to cover the claims from wildfires that state officials determined were caused by the utility’s equipment. PG&E has not provided an estimate for those claims, though Bloomberg reported that the company has assurances from financial groups that it could raise as much as $ 40 billion in debt and equity to cover the wildfire claims and other bankruptcy-related costs.

The report said PG&E’s plan will commit to settling fire claims, continuing current power purchase agreements (PPAs), and exiting bankruptcy without increasing electricity rates.…

Large Public Power Systems Are Evolving [PODCAST]

September 2, 2019

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The power grid is changing across the U.S. More distributed energy resources are being added every day. That brings challenges for power utilities, but also opportunities.

John Di Stasio, president of the Large Public Power Council (LPPC), which represents 27 of the largest locally governed and operated not-for-profit electric systems in the U.S., was a guest on The POWER Podcast and discussed how the changes are affecting his organization’s members.

As large infrastructure developers and asset owners, the LPPC’s members are uniquely affected by certain policies in Washington, D.C. Di Stasio, who previously served as general manager and CEO of the Sacramento Municipal Utility District (SMUD) from June 2008 through April 2014, said his group has been focused on tax, infrastructure, cybersecurity, environmental regulation, electrification, and grid modernization initiatives.

Di Stasio noted that the U.S. power grid was originally designed as a central station system with one-way power flow from generators to consumers. “Now, we’re looking at much more distributed generation potentially, and also the fact that two-way power flow provides some additional opportunities and capabilities for consumers, also some additional complexity,” Di Stasio said.…

Pipeline Deal Means More U.S. Natural Gas for Mexico Power Plants

August 29, 2019

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Mexico is preparing to import more U.S. natural gas to supply the country’s gas-fired power plants and industrial facilities after the Mexican government reached a deal that will allow several stalled pipeline projects to be completed.

Mexican President Andres Manuel Lopez-Obrador on Aug. 27 said his administration’s deal with Canadian pipeline operator TC Energy; IEnova, a Mexican subsidiary of San Diego, California–based utility company Sempra Energy; and Mexican construction firm Grupo Carso ends a $ 3 billion stalemate over contracts for a handful of pipelines that will bring natural gas to Mexico from the Eagle Ford Shale of South Texas and the Permian Basin of West Texas.

Grupo Carso is owned by Mexican billionaire Carlos Slim. He said Tuesday that the agreement will give Mexico access to cheap natural gas, some of which can be used to further the development of natural gas-fueled vehicles in Mexico.

“This will allow us to substitute diesel and gasoline, which are not only more expensive but more polluting,” Slim said.…

Power Sector CEOs Join Top Execs in Redefining Corporate Purpose

August 25, 2019

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The list of 181 CEOs who earlier this week moved to publicly degrade shareholder value in a bid to redefine the “purpose of a corporation” includes several chief executives from power companies.

The Aug. 19 statement issued by the Business Roundtable, an association of CEOs “to promote a thriving U.S. economy and expanded opportunity for all Americans through sound public policy,” moves away from the primacy of shareholder interests. That notion—that corporations exist principally to serve shareholders—has belied principles endorsed by the group since 1997.

Instead, the group sought to outline a “modern standard for corporate responsibility.” While it still emphasizes a commitment to generate “long-term value” to shareholders, who provide capital that allow companies to “invest, grow, and innovate,” the group’s new statement prioritizes delivering value to customers, investing in employees, dealing fairly and ethically with suppliers, and community support.

The shift comes as large corporations face increasing public pressure over their societal impacts, including over working conditions, wages, and product safety.…