The POWER Interview: Financial Benefits of Energy Storage
The post The POWER Interview: Financial Benefits of Energy Storage appeared first on POWER Magazine.
Speakers at POWER’s recent Distributed Energy Experience were unanimous in their agreement that energy storage is a game-changing technology for the power generation sector. Storage provides for more reliability and resilience, and already is proving its importance to supporting the growth of solar and wind power.
Utilities are incorporating storage into their generation portfolios. It is often featured as part of microgrid configurations, and the business community has discovered the cost-effectiveness of storage in commercial and industrial distributed generation systems.
Abbot Moffat, Director of Business Development / West for Rubicon Professional Services, provided POWER with his insight into energy storage. Rubicon is a team of experienced design and construction experts that works on projects for several industries, including alternative energy, data centers, health care, telecommunications, and power plants.
POWER: What are the financial benefits for a utility to incorporate energy storage into its project portfolio?…
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FirstEnergy Fires CEO as Nuclear Bailout Probe Continues
The post FirstEnergy Fires CEO as Nuclear Bailout Probe Continues appeared first on POWER Magazine.
FirstEnergy Corp. President and CEO Charles “Chuck” Jones was fired late Thursday after an internal review found Jones and two other company executives violated company policies in connection with an alleged bribery scheme.
The case is connected to a legislative bailout of the state’s nuclear power plants that occurred in 2019. The law, known as House Bill 6 (HB 6), meant state electricity ratepayers would pay more in their bills to subsidize the state’s nuclear plants, along with two coal-fired power plants jointly owned by the state’s utilities.
Thursday’s action came after two of the four lobbyists charged in the federal racketeering probe entered guilty pleas in the case.
Federal agents in July arrested Larry Householder, an Ohio Republican lawmaker and former Speaker of the House, and four other men, including lobbyists for FirstEnergy and its former subsidiary FirstEnergy Solutions, now known as Energy Harbor.…
Black & Veatch: No More Coal Construction
The post Black & Veatch: No More Coal Construction appeared first on POWER Magazine.
Black & Veatch is ending the company’s participation in coal-based power market design and construction, saying it will allow the company to focus on clean energy technologies. The engineering and construction giant’s announcement Oct. 29 comes just more than a month after another major energy company, General Electric, said it would exit the new-build coal power market.
“We are an employee-owned company, and we do not make decisions based on what the market wants to hear, or how the market will react,” said Mario Azar, president of Black & Veatch’s power business, in an interview Thursday with POWER. “We make decisions based on the values of our company. We’ve been around for more than 100 years, and we want to be around for another 100 years or more.
“That’s how we make decisions as the executive committee of Black & Veatch,” he said. “It’s really centered around our values and our future.…