The jurisdictional battle rages on, with FERC and EPA squaring off against the states.
Bruce W. Radford and Michael T. Burr
When Revolutionary War veteran Daniel Shays led an attack on the federal Springfield Armory in January 1787—the spark that ignited the federalist movement—he scarcely could’ve guessed that now, 225 years later, his spiritual descendants would still be fighting that very same battle.
(June 2012) South Carolina Electric & Gas gave Shaw Group and Westinghouse full notice to proceed on their contract for two new Westinghouse AP1000 nuclear power units and related facilities at the V.C. Summer nuclear station near Jenkinsville, S.C. Progress Energy awarded a contract to Westinghouse for underwater laser beam welding (ULBW) at the Robinson nuclear plant in Hartsville, S.C. Southern California Edison (SCE) completed additional inspections of the San Onofre Nuclear Generating Station (SONGS) Unit 2 steam generators, based on Unit 3 findings. And others...
(March 2012) DTE Energy awards contract to URS; Exelon and Constellation reach an agreement with Electricite de France; Dominion and Lockheed Martin enter a joint marketing and development alliance; plus deals involving Nissan North America, CenterPoint Energy Field Services, Honeywell, Silver Spring Networks, and others.
Generators fight back against EPA’s new regulations
With a flurry of major new environmental regulations, the Environmental Protection Agency (EPA) is altering the power generation landscape. But will the new federal rules survive court challenges—to say nothing of next year’s national elections? Fortnightly's Michael T. Burr considers the controversy over new environmental standards. PLUS: Top Utility Lawyers of 2011.
Renewing public support after Fukushima Daiichi.
The Fukushima disaster has fallen off the headlines, but fear of nuclear energy remains a potent barrier to new development—as well as continued operation of the current reactor fleet. Building the foundation for a stable industry will require a sustained and strategic approach to restoring and securing the public trust.
(September 2011) Our annual ranking tracks the publicly traded electric and gas companies that produce the greatest value for shareholders. Despite the year’s topsy-turvy financial markets, perennial performers like DPL, PPL and Exelon return to the top of the list. Others face looming cap-ex burdens as regulators impose new mandates and requirements. Leading companies are positioning for growth, despite a challenging landscape.
NARUC elects new Executive Committee, Arizona State University chooses former ACC Commissioner Mayes as head of new program at Sandra Day O’Connor College of Law, executive announcements at Southern Company, Calpine, Dominion and more.
Do regulatory and economic trends favor industry mergers?
Now that some new major transactions have emerged, and financial recovery appears slowly moving forward, utility mergers are beginning to appear likely again. Although regulatory hurdles still impede new transactions, some changes at the federal level are reducing concerns about market power and competition. Plus, changing market conditions and new compliance requirements are strengthening the case for scale economics.
Ring-fencing after the subprime meltdown.
Scott Strauss and Peter Hopkins
When Électricité de France stepped in to buy Constellation Energy’s nuclear assets and help the company avoid bankruptcy, the Maryland Public Service Commission conditioned the sale on a set of ring-fencing provisions. The industry has been using such structures to protect ratepayers in complex and high-risk M&A transactions since the 1990s. The protection isn’t foolproof, however—and it can bring problematic regulatory trade-offs.