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THE BIG PICTURE: World’s Biggest Power Companies

February 1, 2019

In 2017, the 10 largest power companies, ranked by their installed generation capacity, owned 18% of total global installed capacity, while the next-largest 15 owned around 10%—meaning that the top 25 companies own nearly 30% of global installed power generation capacity, according to the International Energy Agency (IEA). Chinese companies account for more than one-eighth of global installed capacity, owing to that country’s expansion of its generation fleet
to 1,750 GW, from about 400 GW in 2003. By comparison, in 2003, European-owned utilities dominated the list, accounting for almost 13% of installed capacity worldwide. Source: © OECD/IEA 2018 World Energy Outlook.
—Copy and artwork by Sonal Patel, a POWER associate editor.

The post THE BIG PICTURE: World’s Biggest Power Companies appeared first on POWER Magazine.

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PG&E Files for Bankruptcy, Prepares to Reorganize

January 30, 2019

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California utility Pacific Gas and Electric (PG&E) filed for Chapter 11 bankruptcy on Jan. 29, as the company faces as much as $ 30 billion in potential liabilities for its role in a series of wildfires in the state. The filing was expected after the company notified its workers two weeks ago it was preparing a reorganization plan.

PG&E is working on a multibillion-dollar debtor-in-possession financing deal with several banks to provide the company funding to continue operations during its reorganization. The California Public Utilities Commission approved the company’s plans to tap up to $ 6 billion in financing to help it operate while under bankruptcy protection, and the company in a statement Tuesday said it will ask the bankruptcy court to approve $ 5.5 billion in financing.

John Simon, PGE’s interim CEO, said in a statement, “We are fully committed to enhancing our wildfire safety efforts, as well as helping restoration and rebuilding efforts across the communities impacted by the devastating Northern California wildfires.…

Community Solar Power Offers the ‘Best of Both Worlds’ [PODCAST]

January 28, 2019

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Laura Stern, co-founder and president of Nautilus Solar Energy, was a guest on The POWER Podcast. Founded in 2006, Nautilus is a leading acquirer, developer, and operator of community solar projects. During the past five months, the company has acquired community solar projects in Minnesota, Massachusetts, New York, Maryland, and Rhode Island.

Community solar refers to local solar facilities shared by multiple community subscribers who receive credit on their electricity bills for their share of the power produced. This solar power model is being rapidly adopted throughout the U.S. According to the Solar Energy Industries Association—the national trade association of the U.S. solar energy industry—there was 1,294 MW of installed community solar capacity at the end of June 2018, with at least one community solar project online in 42 states. Furthermore, the group says the market will add as much as 3 GW over the next several years.

Community solar allows homeowners, renters, and businesses to have equal access to the economic and environmental benefits of solar energy generation regardless of the physical attributes or ownership of their homes or businesses.…

PG&E: Judge’s Proposal Could Cost Utility $150 Billion

January 24, 2019

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Pacific Gas & Electric (PG&E) on Jan. 23 said a federal judge’s proposal that the utility mitigate fire danger in its service territory by trimming trees, along with inspecting and repairing thousands of miles of power lines, could cost the company as much as $ 150 billion this year.

William Alsup, a judge in the U.S. District Court for Northern California, earlier this month said he could order PG&E to remove or trim all trees that could threaten the utility’s equipment and possibly lead to wildfires. The judge said the work would need to be done by June 21.

The California Public Utilities Commission (CPUC), which regulates the state’s utilities, is expected to express its opinion of Alsup’s proposal by Jan. 25. A hearing on the proposal is scheduled for Jan. 30 in San Francisco, the day after PG&E is expected to file for bankruptcy.

Alsup is supervising PG&E’s probation term that began in 2017 after PG&E was convicted of felony charges stemming from a 2010 natural gas pipeline explosion in San Bruno, Calif.,…

PG&E Says It Will File Chapter 11 Bankruptcy

January 22, 2019

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California utility PG&E Corp. on Jan. 14 gave its workers the state-required 15-day advance notice of its intent to file a Chapter 11 bankruptcy. The company on Monday said its electric and natural gas service to customers should not be impacted during its reorganization, which comes as PG&E faces billions of dollars in liabilities related to the role of its equipment in a series of deadly wildfires over the past two years.

The company late Sunday said that PG&E CEO Geisha Williams had stepped down, with John Simon named interim CEO. PG&E’s board said it would search for a new chief executive with “extensive operational and safety expertise.” Williams had been CEO since 2017. Simon has held various roles with the company since 2007, most recently as executive vice president and general counsel.

PG&E in a news release Monday said the company “and its wholly owned subsidiary Pacific Gas and Electric Company currently intend to file petitions to reorganize under Chapter 11 of the U.S.…

New York Latest State to Set 100% Carbon-Free Goal, with Increased Renewables

January 18, 2019

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New York Gov. Andrew Cuomo (D) is continuing his push for renewable energy in the state, as the governor on Jan. 15 announced an initiative for New York to achieve 100% carbon-free power generation by 2040. Cuomo’s “Green New Deal,” part of his 2019 Justice Agenda and as part of the state budget, calls for an increase in deployments of renewable energy projects, including offshore wind.

New York is the third state, behind Hawaii and California, to commit to a full portfolio of renewable power generation. The Sierra Club said more than 100 U.S. cities and counties also have committed to all renewable energy, and about a half dozen already have met that goal.

“Let us set the goal, 100% clean power by 2040, highest in the United States of America, a climate action council to eliminate the state’s carbon footprint,” Cuomo said in his State of the State address at the state capitol in Albany. He said he wants groups to “come up with the next generation of clean technology and train our workforce for those jobs.”…