We went to Allentown and talked with Bill Spence.
Part 2: The Art of the Deal
Part 1: Sharks, Whales and Minnows
Siemens will provide the grid connection for an offshore wind farm off the coast of the U.K.; ABB will supply gas-insulated switchgear for substations in New Jersey; A team from the Microgrid Institute will design, simulate, and test microgrid control systems for two Maryland suburbs; Plus solar power developments by Xcel Energy, SunEdison, ReneSola, and Duke Energy; and others…
The industry’s transformation has begun. Should the F40 transform too?
Wisconsin Energy to acquire Integrys in a transaction valued at $9.1 billion; Dominion to acquire the CID Solar Project from EDF Renewable Energy; Landis+Gyr to acquire GRIDiant Corp.; PPL Corporation and Riverstone Holdings LLC to merge merchant power generation businesses into a new company Talen Energy Corporation; plus debt offerings totaling $1.5 billion.
PPL Corporation and Riverstone Holdings LLC announced a definitive agreement to combine their merchant power generation businesses into a new stand-alone, publicly traded independent power producer. The new company, which will own and operate 15,320 MW of generating capacity, will be called Talen Energy Corporation.
The dash to gas brings volatility in shareholder performance.
Fortnightly’s 2013 ranking of shareholder value performance shows substantial changes, with gas prices weighing on some utilities and elevating others.
New Opportunities: FirstEnergy named James V. Fakult, formerly president, Maryland operations, as president, Jersey Central Power & Light (JCP&L). He succeeds Don Lynch, who retired. James A. Sears, director of operations services at Mon power, was promoted to president of Maryland operations, succeeding Fakult. In related organizational moves, Anthony Hurley, director of operations services at Toledo Edison, was promoted to v.p.
Westinghouse Electric names former Progress Energy Executive as president and CEO. FirstEnergy makes numerous executive changes and appointments; Pepco hires new general counsel; plus executive appointments and announcements at AEP, PPL, PG&E, ITC Holdings, Dominion, EPRI, SEIA, and others.