Calpine acquires Texas combined-cycle plant from MinnTex; FirstEnergy sells 11 hydro stations to LS Power; Alterra Power acquires 202-MW wind farm; plus deals and debt issues totaling $1.8 billion.
Mon Power, a subsidiary of FirstEnergy, installed new conductors near Morgantown on a 138,000-volt transmission line to handle future load growth in the Monongalia County area. The $5 million project includes three phases, with all the work occurring on existing right-of-way. The transmission line upgrade is expected to be completed before year's end.
FirstEnergy completed the sale of 11 hydroelectric power stations to Harbor Hydro Holdings, a subsidiary of LS Power Equity Partners, for approximately $395 million. The two companies originally announced the sales agreement in September 2013. The hydroelectric power stations included in this sale are owned by FirstEnergy Generation, Allegheny Energy Supply and Green Valley Hydro and have a total capacity of 527 MW.
A formal methodology for developing ring-fencing arrangements and setting conditions.
How can decision makers determine the appropriate degree of ring-fencing for a utility holding company? The authors propose a systematic and objective method – recognizing business and financial risks specific to the regulated utility and its affiliates.
FirstEnergy announced it expects to deactivate two coal-fired power plants located in Pennsylvania by October 9, 2013. The decision is based on the cost of compliance with current and future environmental regulations in conjunction with the continued low market price for electricity. The plants scheduled to be deactivated are Hatfield's Ferry Power Station in Masontown, Pa., and Mitchell Power Station in Courtney, Pa.