electricity

Elliott Investment Management LP is calling on Houston-based utility giant NRG Energy Inc. to upend its strategy because of “operational and strategic mishaps.” The activist investor, which said it has spent $1 billion to secure a 13% stake, sent a letter on Monday to NRG’s board specifically criticizing a $2.8 billion deal to buy home…

Mexico’s energy regulator Comision Reguladora de Energia (CRE) needs to do a better job in providing a level playing field and improving sector oversight, Enix SC founder Alvaro Efraín Téllez Rangel, who runs the consultancy firm in Mexico City, told NGI’s Mexico’s GPI. Mexico’s CRE must “demonstrate certainty” and make decisions based on “the current…

A trio of U.S. trade organizations led by the American Petroleum Institute (API) is again calling on the Biden administration to engage forcefully with Mexico over the latter’s energy policies, which the groups say give preferential treatment to Mexico’s state-owned producers of hydrocarbons and electricity. In a letter to U.S. Trade Representative Katherine Tai, API…

New Jersey is joining other states by setting a 2035 goal of 100% clean energy by ending the sale of gasoline-powered vehicles and switching to electric heating for buildings.   “We’ve turned our vision for a greener tomorrow into a responsible and actionable roadmap to guide us, and it’s through that pragmatic, evidence-based approach that we…

Gov. Tim Walz of Minnesota’s Democratic-Farmer-Labor Party has signed into law clean energy goals that target a carbon-free electricity grid by 2040.  State House File 7 (HF7) amended Minnesota’s Renewable Energy Standard statute. It added a target for electric utilities, generation and transmission cooperatives, and municipal power agencies to generate or procure by 2035 at…

Commonwealth Edison Co. (ComEd) has filed to raise monthly electricity rates by about $4.25 for the average monthly residential electricity bill annually from 2024-2027 as it strengthens the grid and prepares for increased electrification.  The Chicago-based Exelon Corp. subsidiary noted that its electricity utility customers currently see an average bill of $93/month, about 20% lower…

U.S. electricity consumption is forecast to decline this year and only marginally increase in 2024, but natural gas consumption gains may be seen amid rising industrial demand. Regulatory action also could be stymied, according to industry advocates. The American Gas Association (AGA) pointed out the positives on Thursday. Incoming Chair Suzanne Sitherwood, who is CEO…

“For Mexico to diversify away from U.S. natural gas imports in the medium to long term, the answer is potentially shale,” W. Schreiner Parker, senior vice president and head of Latin America at Rystad Energy, said in an interview with NGI’s Mexico GPI.  “The other interesting area of domestic supply is offshore gas,” he said.…

California leaned more heavily on natural gas-fired electricity during the extreme heat wave that blanketed the state earlier this month, according to the Energy Information Administration (EIA). Grid operator CAISO (aka California Independent System Operator) had to urge customers to cut back on electricity use during an extended stretch of sweltering temperatures in early September…