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PPL Capital Funding, Inc. announces proposed private placement of $1 billion of Exchangeable Senior Notes
Prnewswire· 2025-11-19 11:50
Core Points - PPL Capital Funding, Inc. plans to offer $1 billion of Exchangeable Senior Notes due 2030 in a private placement to qualified institutional buyers [1][7] - The notes will be senior, unsecured obligations guaranteed by PPL Corporation, with interest payable semi-annually [2] - The offering includes an option for initial purchasers to buy an additional $150 million of notes within 13 days of issuance [1] Financial Details - The notes will mature on December 1, 2030, and can be exchanged for cash or shares of PPL Corporation's common stock [3] - PPL Capital Funding may redeem the notes starting December 5, 2028, under specific conditions related to the stock price [4] - Holders can require PPL Capital Funding to repurchase their notes upon a fundamental change at a price equal to 100% of the principal amount plus accrued interest [5] Use of Proceeds - The net proceeds from the offering will be used to repay short-term debt and for general corporate purposes [6] Company Overview - PPL Corporation is a leading U.S. energy company providing electricity and natural gas to over 3.6 million customers [9] - The company focuses on building resilient power grids and advancing sustainable energy solutions [10]
Deck the Halls Without the Hazards
Prnewswire· 2025-11-18 15:16
Core Points - FirstEnergy Corp. emphasizes the importance of safety during the holiday decorating season, providing tips to ensure a joyful and secure environment for customers [1][2]. Safety Tips for Holiday Decorating - Maintain a distance of at least 10 feet from power lines when setting up decorations and using equipment [5]. - Use a sturdy step ladder with slip-resistant feet and carry it horizontally when accessing roofs [5]. - Always have a spotter when using ladders or aerial lifts to ensure visibility and safety [5]. - Secure decorations to prevent damage from winter winds and avoid attaching them to utility poles or electrical equipment [5]. - If decorations become entangled in power lines, contact FirstEnergy for assistance rather than attempting to resolve it independently [5]. - Regularly check for damaged cords and replace any that show signs of wear, and unplug cords that feel hot [5]. - Use ground fault circuit interrupters (GFCI) outlets outdoors to prevent electric shock [5]. - Manage cords properly to avoid hazards, such as not running them under rugs or across walkways [5]. - Opt for LED candles instead of traditional flames for a safer alternative [5]. Company Overview - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across several states [3]. - The company’s transmission subsidiaries manage approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions [3].
Hydro One seeks approval to build the Welland Thorold Power Line
Prnewswire· 2025-11-17 22:12
Accessibility StatementSkip Navigation This new transmission line will support homegrown businesses and industries in the Niagara Region Through Hydro One's industry leading First Nation 50-50 Equity Partnership Model, proximate First Nations have the opportunity to invest in a 50 per cent equity stake in the transmission line component of the project. "Ontario is facing historic growth demand for electricity in the next 25 years, especially in the southwest," said Sonny Karunakaran, Vice President, Strateg ...
On Utility Scam Awareness Day, PSEG Long Island Urges Customers to 'Slow Down. Verify. Stop the Scam.
Prnewswire· 2025-11-17 18:15
Core Points - Scammers are exploiting the holiday season by impersonating PSEG Long Island and demanding immediate payments to prevent power shutoffs [1][3] - The theme for Utility Scam Awareness Day is "Slow Down. Verify. Stop the Scam," encouraging customers to be vigilant against utility impostor scams [3][13] - PSEG Long Island does not accept payments through external web-based services, prepaid debit cards, or Bitcoin, and customers should verify any suspicious requests directly with the company [7][9] Customer Awareness - Scammers often use urgency and threats to pressure customers into making hasty decisions, and the "Slow Down, Verify, Stop the Scam" framework is designed to help customers pause and confirm requests [3][7] - In-person scammers may go door-to-door, impersonating utility employees and asking for personal information or offering fake discounts [5][6] - Customers should not let anyone into their homes without verifying their identity and should call PSEG Long Island if they have doubts [6][11] Scam Tactics - Phone scammers frequently use spoofing technology to disguise their numbers as PSEG Long Island, threatening immediate power shutoff unless payment is made [7][8] - Some scammers place fraudulent QR code stickers on public electric vehicle charging stations, directing users to fake websites that request personal information [9][10] - PSEG Long Island representatives will only discuss account details with the Customer of Record and will not ask for personal information over the phone [11][12] Company Initiatives - PSEG Long Island is a member of Utilities United Against Scams, which works to raise awareness of common scams and has helped shut down over 14,830 scam numbers [13][14] - The company operates under a long-term contract with the Long Island Power Authority and is a subsidiary of Public Service Enterprise Group Inc. [14]
JCP&L Meeting Explosive Growth with Multi-Pronged Ocean County Plan
Prnewswire· 2025-11-17 14:50
Core Insights - Jersey Central Power & Light (JCP&L) is investing $108 million through 2028 to enhance the electric grid in Ocean County, New Jersey, to meet increasing energy demands and improve reliability [1][2][7] Investment Details - The initial phase includes $21 million in upgrades for 2025, which involves adding two new transformers and upgrading an existing one at a local substation [3] - An additional $29 million will be invested from 2026 to 2028 as part of the New Jersey Reliability Improvement Project, focusing on enhancing reliability in areas with a history of outages [4] - A further $58 million is allocated for upgrades through 2028 under the EnergizeNJ program, which aims to modernize the grid and improve system resiliency [5] Population and Demand Growth - Ocean County's population has increased by nearly 30,000 residents from 2020 to 2024, leading to a surge in energy demand [2] - Businesses and developers have requested over 50 megawatts (MW) of new connections in the past year, sufficient to power approximately 50,000 homes [2] System Enhancements - Upgrades will include stronger power lines and the installation of automatic transfer devices to improve service reliability during outages [4][6] - More than 200 new "TripSaver" devices will be added to automatically restore power during temporary outages [6] Long-term Strategy - JCP&L's initiatives are part of FirstEnergy's broader Energize365 program, which plans to invest $28 billion from 2025 to 2029 to modernize the electric grid [7] - The goal is to create a smarter and more secure grid that can accommodate current and future customer needs [7]
TNMP Files Base Rate Review
Prnewswire· 2025-11-17 11:30
Core Points - TNMP, a subsidiary of TXNM Energy, filed for a base rate review reflecting significant growth since the last filing seven years ago [1][2] - The filing requests recovery of $2.8 billion in rate base, a return on equity of 10.4%, and an equity ratio of 47.54% [2][3] - Current rates are based on a rate base of $835 million, with an allowed return on equity of 9.65% and a 45% equity ratio [2][3] Rate Filing Components - The request includes increased operations and maintenance costs, changes in deferred federal income tax amortizations, and updates to depreciation rates [3][4] - TNMP is also requesting $20.5 million for Hurricane Beryl restoration costs, to be recovered over five years [4] - If approved, new rates are expected to take effect in mid-2026 [4] Financial Summary - Key components of the rate filing include a total revenue requirement increase of $141.8 million, with a net rate increase of $33.8 million [5] - Major operational drivers include vegetation management, headcount increases, catastrophe reserve increases, and insurance premiums [9] - The core rate base growth includes returns on investments and distribution investments from January to June 2025 [7]
FirstEnergy Foundation Energizing the Future of STEM, Electrical Trades
Prnewswire· 2025-11-14 17:32
Core Points - FirstEnergy Foundation is donating $55,000 to New Jersey educational programs focused on electrical trades and STEM, as part of over $5.5 million in community support distributed in 2025 [1][2][3] Group 1: Funding and Support - The grants will support various electrical education and STEM programs for students from elementary to college levels [2][3] - Specific programs receiving funding include Brookdale Community College ($20,000), Warren County College ($15,000), Sussex County Community College ($10,000), Ocean County College ($5,000), and Ocean County Foundation for Vocational and Technical Education ($5,000) [6] Group 2: Community Engagement - JCP&L employees are actively participating in educational activities, such as Career Day at Ocean County Vocational and Technical School, sharing their expertise with students [4] - The company regularly hosts STEM groups from local schools at its headquarters, providing insights into electrical grid management [4] Group 3: Company Overview - JCP&L serves approximately 1.2 million customers across multiple counties in New Jersey [6] - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across several states [8]
Shanghai Electric and Siemens Sign Framework Agreement to Accelerate Green and Digital Power Grid Transformation
Prnewswire· 2025-11-14 14:27
Core Insights - Shanghai Electric and Siemens AG signed a framework agreement to enhance medium- and low-voltage power system equipment, supporting China's dual-carbon goals [1][2][3] Group 1: Partnership Objectives - The collaboration aims to leverage complementary strengths for market expansion, green transformation, and intelligent upgrades, creating benchmark projects for a sustainable power grid [2][5] - The agreement signifies Shanghai Electric's proactive role in the global energy transition and reflects a shared strategic vision for low-carbon and digital development [2][3] Group 2: Historical Context and Future Plans - Shanghai Electric and Siemens have a long-standing partnership, with over three decades of technological collaboration and market cooperation in China's power transmission and distribution sector [4] - The new agreement is expected to accelerate the green transformation of the power system industry and strengthen Shanghai Electric's leadership in transmission and distribution equipment, while opening new opportunities for international cooperation [4][5] Group 3: Strategic Vision - Both companies plan to deepen strategic collaboration, explore integrated applications across various industrial scenarios, and leverage high-end equipment partnerships to build benchmark projects for sustainable, low-carbon development [5] - The partnership aims to deliver reliable "Shanghai Electric Solutions" to support energy transitions in China and globally [5]
Mon Power and Potomac Edison Invest $13 Million to Boost Reliability for Rural West Virginia Communities
Prnewswire· 2025-11-13 18:56
Core Insights - FirstEnergy is investing $13 million in infrastructure to enhance electric service reliability for over 12,700 rural customers in West Virginia, focusing on reducing outages during severe weather [1][2]. Infrastructure Investment - The investment is part of a three-year pilot program approved by the Public Service Commission of West Virginia aimed at improving service reliability [1]. - Projects include building new power lines, upgrading to stronger wire, adding substation transformers, and installing automated smart technologies [7]. Specific Projects - In Berkeley and Morgan counties, a four-mile power line will connect two lines serving 5,400 customers, providing backup power to minimize outages [8]. - In Greenbrier County, a second transformer will be installed at a substation in Union to support 2,238 customers and future growth [8]. - In Hancock County, wire upgrades on an existing line will enhance backup power for over 3,100 customers, with additional equipment like regulators and reclosers to improve service reliability [8]. - In Tyler County, a two-mile tie line will be upgraded to reduce outages for 2,000 customers [8]. Company Overview - FirstEnergy operates one of the largest investor-owned electric systems in the U.S., serving over six million customers across multiple states [4].
We Energies named best in the Upper Midwest for reliability
Prnewswire· 2025-11-13 17:00
Core Points - We Energies has received the 2025 ReliabilityOne® Award for exceptional reliability performance in the Upper Midwest, based on its performance in 2024 [1][4] - The award recognizes utilities that excel in providing reliable electric service to customers, with We Energies being highlighted for its commitment to reliability and service excellence [1][4] Company Investments and Improvements - We Energies has invested in upgrading its grid to enhance performance and recovery from storms, including modernizing aging systems and burying hundreds of miles of power lines [3] - The company has implemented high-tech equipment to minimize the impact of power outages and has undertaken extensive tree trimming and removal along thousands of miles of power lines [3] - These investments aim to modernize delivery systems, reduce operating costs, and improve energy efficiency [3] Award Selection Process - The ReliabilityOne® Award is open to all utilities operating electric delivery networks in North America, with selection based on system reliability statistics measuring the frequency and duration of customer outages [5][6] - Companies undergo a rigorous certification process that includes independent reviews of their reliability reporting processes [6] Company Overview - We Energies serves over 1.1 million electric and natural gas customers in Wisconsin and is a subsidiary of WEC Energy Group Inc. [7]