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With gasoline prices so low, it’s no surprise that U.S. motorists are driving a lot more this summer. In all, more than 43 million Americans planned to travel by one means or another over the Independence Day weekend, the highest volume ever for the holiday, the motor club AAA estimates. (Read more)
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The CEO of the biggest electric utility in the U.S. gave a wide-ranging talk the other day on a transformation taking place in her industry, as power providers move increasingly to cleaner forms of generation. But one topic was missing as Duke Energy’s Lynn Good delivered her formal remarks at an energy conference in Washington: nuclear energy. (Read more)
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Eight months in her new job as head of a start-up at General Electric hasn’t spoiled Maryrose Sylvester’s positive attitude about tackling the challenges she faces. “One of the things about being a good business leader is you have to be incredibly optimistic and paranoid at the same time. I’m both of those things,” says the president and CEO of GE’s new division Current, laughing at GE’s office in Washington the other day (Read more)
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Should managing your energy needs at home be as easy as booking an airline flight or monitoring your bank accounts with a mobile app? For most consumers and electric utilities, the answer is probably “yes.” But despite all of the advances in information technology over the years, and the proliferation of mobile apps, utilities is seen as one sector where such innovation is still lacking. (Read more)
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With oil markets stuck in a slump for two years now, it’s easy to forget how much a sudden loss of supply can impact prices. But the U.S. Energy Information Administrationreminds us of that risk in a new report that puts “unplanned” oil supply disruptions throughout the world at a five-year high in May. (Read more)
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By most accounts, the U.S. will have more than enough natural gas this summer to keep electric power plants running and buildings cooled, even on the hottest days, except possibly in one place: Los Angeles. A leak at the massive Aliso Canyon gas-storage facility in the San Fernando Valley has left the Los Angeles Basin potentially short of fuel for its power plants when temperatures spike and demand for electricity for air-conditioning peaks. The leak was plugged in February, following its discovery during inspections in October. But its implications for reliable electricity in the second-largest city in the U.S. are still subject to ongoing study by Southern California Gas, which owns the storage facility, grid operators and state and federal officials. (Read more)
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The head of the leading rooftop solar company in the U.S. told me last year that one of his top priorities was to strike deals with electric utilities that would make them partners rather than rivals in the changing power sector. “I’m very interested in finding a utility that we can work with that wants to solve problems, not prevent change,” Lyndon Rive, the co-founder and chief executive of SolarCity, said in June. “It would be learning for both of us.” Well, Rive got his wish last week as SolarCity and two other solar developers, SunPower and SunEdison, joined six New York utilities in announcing their formation of the “Solar Progress Partnership.” (Read more)
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The petroleum industry has historically been a cyclical one, with swings in prices periodically spelling boom and bust for companies and their workforces. But the current slump, which has seen prices fall by more than 60% since June 2014, is one of the worst ever for the sector, making job prospects that much less certain, especially for those just entering the field. With that in mind, the co-founders of a Houston oil and gas management-services company recently announced a donation of $12 million to their alma mater, Texas A&M University, to help students in petroleum engineering better understand the business side of oil and gas production. (Read more)
Continue readingSelling electricity was once a relatively simple proposition. A utility fired up a power station with coal, natural gas, oil or some other fuel, and sent electricity down a wire to customers. But the business model for the electric power industry has changed dramatically in the U.S. over the past 25 years, with deregulation opening markets to competing sellers of electricity, and new technologies offering a dizzying array of options for consumers. The latest sign of change in the industry is the announcement by Edison International of a new subsidiary called Edison Energy that sells “energy as a service” to commercial and industrial customers throughout the U.S. (Read more)
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U.S. consumers saved substantially on their heating bills this winter, as the country enjoyed its warmest winter ever. But with the first day of spring just a few days away, not everyone is rejoicing. “If you’re a consumer, it’s great. But if you’re the guy responsible for producing the stuff, it’s not. This is a rough time,” said Porter Bennett, a longtime analyst of U.S. energy markets. In fact, Bennett’s firm, Ponderosa Energy, just put out a report whose title sums up the situation confronting oil and gas producers: “Winter of Discontent”. (Read more)
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