Calpine signs PPA with Public Service Company of Oklahoma; TransCanada and Ontario PowerAuthority agree to develop 900-MW gas-fired power plant; Panda selects Siemens to build combined-cycle plant; Progress Energy retires coal plants dating from 1923; Southern Company and Turner acquire 30-MW PV project; PSO begins smart meter pilot rollout; Southern California Edison contracts with Corix to install smart meters; Iberdrola USA hires Burns and McDonnell to review grid infrastructure. Plus contracts and announcements from Itron, eMeter, Echelon, Quanta Services, DNV, Metadigm, Landis+Gyr, and others.
Lacking regulatory oversight, financial hedges turn into risky speculation.
Many utilities engage in hedging to protect customers from price spikes. But unless regulators are involved in crafting and monitoring these programs, they can turn into speculative ventures that put ratepayers at risk — for the benefit of shareholders.