Energy Transition

The Michigan Public Service Commission (MPSC) gave a nod to Consumers Energy Co. last week, approving a 5.8% natural gas rate increase to upgrade and replace a portion of its aging natural gas infrastructure.  The Jackson, MI-based utility is now set to increase its gas rates for the 12-month period beginning in October, 39% lower…

Despite the bullish outlook for oil and natural gas prices, Moody’s Investors Service has downgraded the corporate family rating (CFR) of Mexican state oil company Petróleos Mexicanos (Pemex) to B1 from Ba3. The action “was prompted by the downgrade of Mexico’s rating, given the critical importance of the government’s financial strength and support in the…

The Department of Energy (DOE) has announced $40 million in weatherization funding for programs that aim to accelerate electrification in homes and create zero-emission communities across the United States. Bolstered by $3.2 billion from the bipartisan Infrastructure bill passed last year, DOE has tapped 21 organizations and five state agencies with proposed energy efficiency plans…

Pacific Gas and Electric Co. (PG&E) and Tesla Inc. have once again teamed up on a pilot program that would pay Tesla’s Powerwall customers to discharge energy to the energy grid during peak demand.  The program, part of the Emergency Load Reduction Program (ELRP), is a five-year pilot offered by California’s investor-owned utilities: PG&E, Southern…

Olympus Energy LLC has become the latest exploration and production (E&P) firm to claim the distinction of producing 100% certified natural gas after an analysis by Project Canary. Pittsburgh independent Olympus operates around 100,000 net acres with more than 10 producing wells in Marcellus, Utica and Upper Devonian plays of southwestern Pennsylvania.  Olympus COO Mike…

A coalition of some of the nation’s largest natural gas producers has received independent validation for its methane intensity program.  Our Nation’s Energy Future, better known as ONE Future, consists of companies that work in 16 of the nation’s 38 production basins. Collectively, ONE Future members account for 19% of U.S. natural gas production, 56%…

As the Bureau of Ocean Energy Management (BOEM) offers more offshore wind lease sales on both coasts, power plant developers and operators have said they have plans for more than 6 GW of capacity installments through 2029, according to the Energy Information Administration (EIA). While the East Coast has remained relatively unaffected by the integration…

Twelve global natural gas and oil majors are backing what could be Pennsylvania’s first carbon capture and storage (CCS) project. Under the auspices of decarbonization investor OGCI Climate Investments (OGCI CI), the multinationals have provided funding for KeyState Natural Gas Synthesis to conduct a pre-front end engineering and design (pre-FEED) study for a project in…

Energy start-up C-Zero Inc.’s promise to commercially scale carbon-free hydrogen production using natural gas has drawn investments from commodity trading giants through a recent financing round. The California-based company’s latest funding round, completed for $34 million, was led by SK Gas Co., a subsidiary of South Korea’s SK Group. Engie New Ventures, the venture capital…