Core Insights - Meta has signed three agreements to procure nearly 1 gigawatt of solar power, bringing its total solar purchases to over 3 gigawatts in 2023, as part of its strategy to support AI ambitions [1][2] Group 1: Solar Power Agreements - The recent agreements include two projects in Louisiana for a combined 385 megawatts, expected to be completed in two years [2] - A larger deal was made for 600 megawatts from a solar farm in Texas, which will start commercial operations in 2027 [2][3] Group 2: Environmental Attributes and Criticism - The Louisiana deals involve purchasing environmental attribute certificates (EACs) to offset carbon-intensive power sources [3][4] - EACs have faced criticism for potentially obscuring the true carbon footprint of tech companies, especially as AI increases electricity consumption [4][7] Group 3: Market Dynamics and Renewable Energy - The cost of solar and wind energy has significantly decreased, making renewables more competitive than fossil fuels [6][7] - Experts argue that EACs may not effectively stimulate additional renewable power and suggest that companies should focus on encouraging the development of new renewable capacity to offset energy use from AI [7]

Core Insights - Tether reported a year-to-date profit exceeding $10 billion and excess reserves of $6.8 billion as of September 30, 2025, confirming the strength of its reserves backing USDT [1][4] - The company’s total reserves were $181.22 billion, with liabilities at $174.45 billion, indicating a healthy reserve ratio [2][3] - USDT issuance increased by over $17 billion in Q3, with circulating supply surpassing $174 billion and later exceeding $183 billion in October [2] Reserves and Asset Composition - Tether's exposure to U.S. Treasuries is approximately $135 billion, positioning it among the top sovereign holders [3] - The reserve mix includes $12.9 billion in gold and $9.9 billion in Bitcoin, accounting for roughly 13% of total reserves [3] - Proprietary investments in sectors like AI and renewable energy are excluded from the assets backing USDT [3] Management and Corporate Actions - Management reported that reserve assets exceeded liabilities by $6.78 billion at the end of Q3, with a global user base exceeding 500 million [4] - The company settled litigation with Celsius using proprietary investment capital, indicating that token reserves remained unaffected during the period of increased USDT issuance [6] - Tether launched a share buyback initiative and is approaching $30 billion in proprietary equity while maintaining a multi-billion-dollar excess-reserve buffer [6] Regulatory Developments - Tether Holdings has applied for an Investment Fund License in El Salvador, aiming to expand regulated activities while managing reserves [7] - The filing is part of a broader strategy to enhance the regulatory framework surrounding Tether's operations [7] Market Confidence - The CEO emphasized the continued trust in Tether's model, highlighting USDT as a reliable and liquid digital dollar amid challenging macroeconomic conditions [5]

Financial Data and Key Metrics Changes - Q3 operating earnings were $1.06 per share, including $0.03 from RNG 45Z credits and $0.06 from worse-than-normal weather, with GAAP results at $1.16 per share [5][6] - Full-year guidance range narrowed to $3.33 to $3.48 per share, maintaining the original midpoint of $3.40 [6][7] - Year-to-date weather has become a small headwind of approximately $0.02, contrasting with earlier tailwinds from sales and weather [6] Business Line Data and Key Metrics Changes - The Coastal Virginia Offshore Wind (CVOW) project is now two-thirds complete, with project costs at $11.2 billion and approximately $8.2 billion invested to date [10][11] - Data center demand has increased to approximately 47 gigawatts, up 17% from December 2024, with significant growth in various stages of contracting [18][19] Market Data and Key Metrics Changes - Current residential electric rates are 9% and 11% below the U.S. average for DEV and DESC, respectively [24] - The project’s levelized cost of energy (LCOE) has been updated to $84, which remains competitive compared to other generation resources [14][15] Company Strategy and Development Direction - The company focuses on achieving financial commitments, completing major construction milestones for CVOW, and achieving favorable regulatory outcomes [4] - A comprehensive capital investment forecast update through 2030 is expected in the Q4 earnings call, with a focus on customer affordability and system reliability [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering on financial plans despite challenges, emphasizing a conservative approach to balance sheet management [7][32] - The company anticipates continued bipartisan support for CVOW, which is critical for infrastructure upgrades and energy supply [25] Other Important Information - The Charybdis wind turbine installation vessel has faced delays but is expected to be cleared for turbine installation in November [17][18] - The company is actively working on various utility-scale solar and storage projects, representing about $2.9 billion in new investment [23] Q&A Session Summary Question: Political risks regarding CVOW project - Management noted bipartisan support for CVOW across all levels of government, indicating confidence in project continuity regardless of potential political changes [25] Question: Status of Charybdis and punch list items - The punch list for Charybdis includes about 200 items, with 120 already closed out, and the team is confident in completing the remaining items by November [26][28] Question: Capital plan and balance sheet capacity - Management indicated that the capital plan will be updated in early 2026, with a focus on maintaining balance sheet conservatism while exploring various funding sources [30][32] Question: Impact of potential delays on financial guidance - Management expressed confidence that any delays in turbine installations would not significantly impact financial commitments made to investors [50] Question: Data center load and energization timing - The company continues to see robust demand from data centers, with energization dates for over 100 delivery point requests stretching through 2031 [43]

Financial Performance & Guidance - Dominion Energy's Q3 2025 operating earnings per share was $1.06, which includes $0.03 of RNG 45Z income and $0.06 of unfavorable weather impact[8] - The company reaffirmed its 2025 operating earnings per share guidance at a midpoint of $3.40, with a narrowed range of $3.33 to $3.48[8] - Long-term operating EPS growth rate is projected at 5%-7% off 2025 operating EPS excluding RNG 45Z income ($3.30)[8] - The 2025 dividend is expected to be $2.67 per share[8] Capital Investment & Financing - The 2025-2029 capital investment plan is approximately $50 billion and will be updated on the Q4 call[8] - Dominion Energy expects $5.5-$8.0 billion in consolidated fixed income activities for 2025, with $8.7 billion already issued year-to-date[10] - The company has issued $1.0 billion of common equity through the At-the-Market (ATM) program in 2025 and $1.3 billion for 2026-2027[11] Coastal Virginia Offshore Wind (CVOW) Project - The CVOW project is approximately 66% complete and remains on schedule for first electricity delivery in Q1 2026 and full completion by the end of 2026[16, 17] - The current capital budget for CVOW is $11.2 billion, including $443 million of actual/estimated tariffs[22] - Project-to-date investment in CVOW as of September 30, 2025, is approximately $8.2 billion, with remaining project costs of approximately $3.0 billion[22] Data Center Growth - Data center contracted capacity has increased by approximately 7 GW or 17% since December 2024, reaching approximately 47.1 GW in September 2025[33]

This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. By the Numbers: Xcel Energy Q3 2025   $524M Quarterly earnings, down 23% from 2024 on higher depreciation, interest charges and O&M expenses, partially offset by improved recovery from infrastructure investments.   3 GW Capacity of contracted or 'high probability' data center load. The utility says it is tracking additional deals that could exceed 20 GW in new ...

JERA Co., Inc., Japan’s largest power generation company and one of the world’s leading LNG importers, reported a rise in second-quarter profit for fiscal 2025 despite a decline in overall revenue, driven by improved results from its overseas and renewable energy segments. For the six months ended September 30, 2025, JERA posted a consolidated profit of ¥156.2 billion, up 12.5% year-on-year from ¥138.9 billion. The company’s operating profit rose 10% to ¥217.2 billion, while revenue fell 7.3% to ¥1.53 tri ...

Core Insights - Dominion Energy is a leading utility company focusing on electricity and natural gas distribution, with a growing emphasis on renewable energy [1] - The consensus price target for Dominion Energy has increased from $64 to $66.6 over the past year, indicating a cautiously optimistic outlook from analysts [1] - Morgan Stanley has set an ambitious price target of $94, reflecting positive sentiment towards the company's strategic initiatives in renewable energy [2] Financial Performance - Dominion Energy's recent financial performance has shown stability, contributing to the slight increase in the price target [2] - The company's expansion into the renewable energy sector aligns with the rising demand for sustainable energy solutions, influencing analysts' positive projections for future growth [2] Regulatory Environment - Regulatory changes significantly impact Dominion Energy's stock target prices, with positive developments potentially bolstering the stock's target price [3] - Analysts maintain a cautiously optimistic stance on the company's future, influenced by the regulatory landscape [3] Challenges and Earnings Outlook - Dominion Energy faces challenges, including anticipated higher costs that may affect its regulated earnings [4] - The company is expected to announce third-quarter earnings with revenue growth anticipated, but Morgan Stanley predicts a decline in earnings due to a lack of key factors for an earnings beat [4] Strategic Focus - The company is concentrating on regulated electricity operations in Virginia and South Carolina as part of its turnaround strategy [5] - The Coastal Virginia Offshore Windfarm project is progressing on schedule and within budget, highlighting the company's commitment to renewable energy [5] - Despite a stable 4.4% dividend yield, dividend growth is not expected until 2028, contrasting with peers like Duke Energy and Southern Company [5]

Financial Data and Key Metrics Changes - IDACORP's diluted earnings per share increased to $2.26 in Q3 2025 from $2.12 in Q3 2024, with year-to-date EPS rising to $5.13 from $4.82 [3][4] - Net income for Q3 2025 rose by $10.8 million compared to Q3 2024, primarily driven by higher retail revenues and customer growth [14][18] - Operating cash flows through September 2025 were $464 million, up $6 million from the previous year [19] Business Line Data and Key Metrics Changes - Customer base grew by 2.3% year-over-year, with residential customers increasing by 2.5% [5][6] - Retail revenues per megawatt hour increased operating income by $17.6 million, while customer growth added $7.8 million to operating income [14][15] - O&M expenses rose by $4.2 million due to inflationary pressures and wildfire mitigation efforts [16] Market Data and Key Metrics Changes - The company reported a modest decrease in irrigation usage per customer, attributed to higher precipitation and lower temperatures compared to the previous year [15][44] - Despite lower cooling degree days, sales growth remained strong, indicating robust customer growth and operational performance [41][42] Company Strategy and Development Direction - IDACORP is focusing on maintaining customer affordability while supporting growth, with residential rates increasing less than the national average since 2014 [7][8] - The company is advancing key projects, including the Boardman to Hemingway transmission line and the Bennett Mountain gas-fired plant expansion, to meet future load growth [9][10] - A recent settlement in the Idaho general rate case aims to increase annual revenues by $110 million, supporting the company's financial health [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in operational performance, raising full-year EPS guidance to a range of $5.80 to $5.90 [4][22] - The company anticipates continued customer growth, particularly in manufacturing and technology sectors, driven by significant investments in the region [5][6] - Management acknowledged potential economic softening but noted no significant trends of concern regarding customer growth [40] Other Important Information - The company filed its 2026 Idaho Wildfire Mitigation Plan, outlining methods to mitigate wildfire risk [11][12] - The Idaho Commission approved a request for additional pre-collection of Hells Canyon AFUDC, increasing cash collection by about $30 million annually [19] Q&A Session Summary Question: What was in the capital plan for Jackalope, and what are the potential solutions? - Management noted that the Jackalope Wind Project was a significant capital piece, with 600 megawatts of capacity, and they are exploring gas options as replacements [25][26] Question: Can you provide insights on customer growth trends? - Management indicated that while customer growth is steady, there may be slight softening due to economic factors, but no major concerns were noted [40][42] Question: How do you plan to address the loss of the Jackalope Wind Project? - Management stated that they will update the capital forecast in February and are considering incremental resources to replace the lost capacity [77][78] Question: What are the priorities for the next general rate case? - Management is assessing the timing and need for the next rate case, considering various elements including potential tracking mechanisms [68][69] Question: How do you see the ROE outlook with new large load customers? - Management expects that revenues from large load customers will eventually increase ROE above the minimum level of 9.12% [70][71]

First Solar Q3'25 Earnings Call October 30, 2025 | Third Quarter 2025 Update © 2025 Copyright First Solar, Inc. 1 | Important Information Cautionary Note Regarding Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this presentation, other than statements of historical fact, are forward-looking statements. These forward-looking statements include, but are ...

Financial Performance - Q3 2025 adjusted EPS was $1.60, exceeding estimates by $0.10, and the full year 2025 adjusted EPS projection is $4.30[13] - Q3 2025 as-reported EPS was $1.55, compared to $1.40 in Q3 2024[15] - Year-to-date 2025 as-reported EPS was $3.56, compared to $3.53 in the same period of 2024[15] - Year-to-date 2025 adjusted EPS was $3.76, compared to $3.56 in the same period of 2024[15] Sales and Load Growth - Weather-normal retail electricity sales grew by 2.6% in Q3 2025 compared to the prior year[13] - Total retail electricity sales increased by 2.6% year-to-date in 2025[27] - Large load pipeline remains above 50GW across the system[13] - Contracts for 8GW of large load support long-term sales growth outlook, with an increase of 2GW in Q3[13, 30] Equity and Financing - Additional equity of $1.8 billion was priced, solidifying $7 billion of the $9 billion equity need[13] - An additional $5 billion in capital expenditure opportunities would require incremental equity of approximately 40%[13] - The company issued $257 million through internal equity plans through Q3 2025[36] Capital Investments and Resource Planning - The company projects $76 billion in capital expenditures from 2025-2029, with 95% allocated to state-regulated utilities[40] - Georgia Power filed for certification of 10GW of new resources through all-source and supplemental processes[47, 51] - Up to $5 billion of additional regulated capital investment opportunities remain, including up to $4 billion tied to Georgia Power-owned resources and $1 billion in expansion opportunities at FERC-regulated businesses[57, 58] Debt and Liquidity - Over $8.9 billion in committed credit facilities and available liquidity of $10.6 billion as of September 30, 2025[72]