power

NRG in $3.6B Deal to Acquire Centrica’s Direct Energy, One of North America’s Largest Natural Gas Retailers

NRG in $3.6B Deal to Acquire Centrica’s Direct Energy, One of North America’s Largest Natural Gas Retailers

NRG Energy Inc. on Friday said it has a definitive agreement to acquire Direct Energy, a leading North American natural gas retailer and subsidiary of Centrica plc, in a $3.625 billion, all-cash transaction. Direct Energy operates in all 50 states and six Canadian provinces, supplying natural gas, electricity, and home and business energy-related products and…

July 24, 2020
Duke Ramps 560 MW Natural Gas-Fired Project to Serve Carolina Customers

Duke Ramps 560 MW Natural Gas-Fired Project to Serve Carolina Customers

Duke Energy Progress, a Duke Energy Corp. subsidiary, said its natural gas-fired Asheville Combined Cycle Station in Arden, NC, is online and producing 560 MW for customers across the Carolinas.  The $817 million natural gas station consists of two 280 MW power blocks, four generators and more than 18,000 components. The first power block became…

July 24, 2020
Gas-Fired Peaking Generation No Longer Favored in California

Gas-Fired Peaking Generation No Longer Favored in California

The number of natural gas-fired peaking plants in California has increased sharply, to 79 from 24, in the first 15 years of this century, though none have been opened in recent years as the state increasingly moves to phase out fossil fuels to facilitate decarbonization. That trend is a reflection of one of the key…

July 23, 2020
August Natural Gas Futures Dip Lower Alongside Forecasts for Less Intense Heat

August Natural Gas Futures Dip Lower Alongside Forecasts for Less Intense Heat

Though intense heat remains in the cards for the balance of summer, near-term forecasts shifted cooler over the weekend and had a dampening effect on natural gas futures Monday. The August Nymex contract lost 6.6 cents day/day and settled at $1.739/MMBtu. September fell 5.0 cents to $1.797.  NGI’s Spot Gas National Avg. advanced 1.0 cent…

July 13, 2020
Mexico Supreme Court Upholds Competition Principles in Power Sector Dispute

Mexico Supreme Court Upholds Competition Principles in Power Sector Dispute

The suspension in late June by Mexico’s Supreme Court of new power sector rules imposed by the energy ministry marked a rare victory for proponents of competition in the country’s energy industry, analysts said. The controversial rulemaking, dubbed the Policy of Reliability, Safety, Continuity and Quality in the National Electric System, halted preoperative tests for…

July 2, 2020
Cooler Near-Term Weather and Coronavirus Impacts Weigh on Weekly Natural Gas Prices

Cooler Near-Term Weather and Coronavirus Impacts Weigh on Weekly Natural Gas Prices

Rains and relatively mild temperatures across much of the eastern half of the Lower 48, along with festering fallout from the coronavirus pandemic, curbed weekly spot gas prices for the June 15-19 period.

June 19, 2020
PG&E Fined Following Guilty Plea for Camp Fire Tragedy

PG&E Fined Following Guilty Plea for Camp Fire Tragedy

After pleading guilty to 84 counts of involuntary manslaughter and another count of starting a deadly fire in Paradise, CA in 2018, the sentencing of Pacific Gas and Electric Co. (PG&E) on Thursday was anticlimactic, with the court only imposing a fine of about $3.4 million. A restitution hearing is scheduled for early next year.

June 19, 2020
Permian Natural Gas Closer to More Mexico Outlets as Mirage Secures Financing

Permian Natural Gas Closer to More Mexico Outlets as Mirage Secures Financing

Mirage Energy Corp. has signed a $4 billion debt facility with the family office of Bluebell International to develop a natural gas project that would add cross-border capacity into Mexico and connect to the planned Permian Basin-to-Gulf Coast Whistler pipeline.

June 19, 2020
Natural Gas Futures Break Even After In-Line Storage Injection

Natural Gas Futures Break Even After In-Line Storage Injection

Natural gas futures traded in a narrow range of gains and losses Thursday and ultimately finished flat after traders absorbed a relatively bullish storage report that offset weather and demand uncertainty. The July Nymex contract settled at $1.638/MMBtu. August rose one-tenth of cent to $1.728.

June 19, 2020

The Offtake: LNG in Brief

A roundup of news and commentary from NGI’s LNG Insight

June 19, 2020
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