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Unitil Announces Pricing of Common Stock Offering
GlobeNewswire News Room· 2025-08-15 01:39
Core Viewpoint - Unitil Corporation has announced a public offering of 1,393,355 shares of common stock priced at $46.65 per share, expected to close on August 18, 2025 [1]. Group 1: Offering Details - The underwriters have an option to purchase an additional 209,003 shares at the public offering price, minus underwriting discounts and commissions [2]. - The net proceeds from the offering will be used for equity capital contributions to regulated utility subsidiaries, repayment of outstanding indebtedness, and general corporate purposes [3]. - Wells Fargo Securities, LLC and Scotia Capital (USA) Inc. are acting as active bookrunners for the offering, with Janney Montgomery Scott LLC as a bookrunner [4]. Group 2: Company Overview - Unitil Corporation provides energy services, delivering electricity and natural gas in New England, serving approximately 109,400 electric customers and 97,600 natural gas customers [6].
Combining Duke Energy Carolinas and Duke Energy Progress projected to save customers over $1B in future costs
Prnewswire· 2025-08-14 21:13
Core Viewpoint - Duke Energy has requested regulatory approval to combine its two electric utilities in the Carolinas, which is expected to generate significant customer savings and operational efficiencies [1][2][3]. Summary by Sections Company Overview - Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) have been operating separately since the 2012 merger of Duke Energy and Progress Energy, and the proposed combination aims to streamline operations and reduce costs for customers [2][12]. Projected Savings - The combination is projected to save retail customers over $1 billion from 2027 to 2038, with additional savings expected beyond 2038 [5][6]. - Savings will be realized through improved operational efficiencies, reduced redundant investments, and better resource management across a combined service area of 52,000 square miles [8][12]. Operational Efficiency - Operating as a single utility will allow for more efficient planning and resource allocation, leading to lower costs and improved grid reliability [8][12]. - The merger will enable the company to implement a more uniform approach to services and rates, reducing customer confusion and regulatory compliance costs [12]. Regulatory Process - The combination requires approvals from the North Carolina Utilities Commission, the Public Service Commission of South Carolina, and the Federal Energy Regulatory Commission [8][12]. - No immediate changes to retail rates or services will occur before 2027, with gradual blending of rates expected thereafter [7][9]. Infrastructure Modernization - Duke Energy is focused on modernizing its infrastructure to meet the growing energy needs of the Carolinas while ensuring reliable service at the lowest reasonable cost [4][16]. - The company is investing in electric grid upgrades and cleaner generation sources, including natural gas, nuclear, renewables, and energy storage [16].
Unitil Announces Common Stock Offering
Globenewswire· 2025-08-14 20:05
Group 1 - Unitil Corporation announced a registered offering of $65 million of shares of its common stock, with an option for underwriters to purchase an additional $9.75 million [1][2] - The net proceeds from the offering will be used for equity capital contributions to regulated utility subsidiaries, repayment of indebtedness, and general corporate purposes [2] - Wells Fargo Securities, LLC and Scotia Capital (USA) Inc. are acting as active bookrunners for the offering, with Janney Montgomery Scott LLC as the bookrunner [3] Group 2 - The offering will be made by means of a prospectus supplement under the Company's effective registration statement filed with the SEC [4] - Unitil Corporation provides energy services in New England, serving approximately 109,400 electric customers and 97,600 natural gas customers [6]
CenterPoint Energy is aware of and monitoring the tropical disturbance in the Bay of Campeche
Prnewswire· 2025-08-14 15:33
Current projections show very little probability of significant impacts for the Greater Houston area beyond increased rain chances Any potential weather impacts would occur Friday and Saturday Customers and the public are encouraged to sign-up for Power Alert Service for updates about friends, family and community locationsHOUSTON, Aug. 14, 2025 /PRNewswire/ -- CenterPoint Energy's Meteorology, Emergency Planning and Response and Electric Operations teams are aware of and monitoring a tropical disturbance ...
FirstEnergy Foundation Supersizes United Way of Berks County "Big Cheese" Event with $100,000 Grant
Prnewswire· 2025-08-13 19:50
READING, Pa., Aug. 13, 2025 /PRNewswire/ -- A $100,000 grant from The FirstEnergy Foundation to the United Way of Berks County's annual Big Cheese event is helping nourish children and adults facing food insecurity.John Hawkins, FirstEnergy President, Pennsylvania: "Our employees show up year after year to support the United Way of Berks County's Big Cheese event – and this year we wanted to do even more. To honor United Way's 100th anniversary, the FirstEnergy Foundation contributed a $100,000 grant, helpi ...
Will PPL's Infrastructure Upgrades Boost Its Reliability & Earnings?
ZACKS· 2025-08-13 15:10
Key Takeaways Upgrades in PA and KY aim to meet demand from data centers and other industries.PPL's smart grid tech investments cut outages and boost energy delivery efficiency.Shares rose 9.1% in three months, outpacing the industry's 3.1% growth.PPL Corporation (PPL) is benefiting from its focus on transmission and distribution through enhanced grid reliability, capacity for increased energy demand and opportunities for strategic investments. This initiative to improve infrastructure, particularly in Penn ...
X @Bloomberg
Bloomberg· 2025-08-11 21:10
The largest US grid operator has ordered emergency action to cut power use in the Baltimore area after a substation failure forced a power plant to trip offline https://t.co/MVzotQDno2 ...
State regulators grant time for FPL and key stakeholders to finalize settlement that keeps customer bills well below national average
Prnewswire· 2025-08-11 18:49
Core Points - Florida Power & Light Company (FPL) and key stakeholders have reached an agreement in principle for a comprehensive four-year rate settlement that aims to keep customer bills below the national average through the end of the decade [1][2] - The Florida Public Service Commission (PSC) has unanimously approved a request to delay technical hearings on FPL's original rates petition for 2026-2029, allowing time for the finalization of the settlement agreement [2][4] - FPL's President and CEO Armando Pimentel expressed confidence that the settlement will enable continued smart investments while ensuring reliable electricity and low customer bills [3] Company Overview - Florida Power & Light Company is the largest electric utility in America, serving over 6 million customer accounts and approximately 12 million people across Florida [6] - FPL operates a diverse energy mix, including nuclear, natural gas, solar, and battery storage, and has been recognized for its reliability, earning the ReliabilityOne® National Reliability Award for seven of the last ten years [6] - FPL is a subsidiary of NextEra Energy, Inc., one of the largest electric power and energy infrastructure companies in North America [6] Next Steps - Following the submission of the finalized rate settlement agreement by FPL and supporting parties, the PSC will establish a schedule to review the case, with new rates proposed to take effect on January 1, 2026 [5] Background - FPL's current four-year rate agreement is set to conclude at the end of the year, prompting the submission of a new rates petition on February 28, which initiated a public review process involving extensive documentation and public hearings [4]
Fewer Outages and Faster Restoration Coming to JCP&L Customers in Northern Monmouth County
Prnewswire· 2025-08-11 12:58
Core Insights - The investment by JCP&L is aimed at enhancing the reliability and safety of electricity delivery to its customers, reflecting a commitment to a resilient energy future [1][3] - The New Jersey Reliability Improvement Project is a two-phase initiative with a budget of at least $95 million for upgrades over the next two years, continuing through 2028 [2][3] - FirstEnergy's broader investment program, Energize365, involves a total of $28 billion aimed at modernizing the electric grid from 2025 to 2029 [3] Project Details - The project includes upgrading over 2.5 miles of overhead power lines and poles to improve capacity and storm resilience [8] - Modernization efforts will involve installing devices that detect abnormal conditions and automatically protect equipment [8] - Additional equipment will be added to reroute power during outages, minimizing the number of affected customers [7][8] Customer Impact - The upgrades are expected to result in fewer outages, limiting the number of customers affected during incidents [7] - Restoration times will be faster as crews will have improved capabilities to reroute power efficiently [7] - The enhancements will provide JCP&L with greater flexibility to respond to issues and maintain power flow [7]
3 Big Dividend Plays With Strong Earnings to Back Them
MarketBeat· 2025-08-11 12:38
Core Viewpoint - Long-term dividend stocks are generally more stable and provide consistent dividends due to their established nature and lower volatility compared to the broader market [1][2] Group 1: Waste Management - Waste Management Inc. is a significant player in the waste and recyclables collection industry, with a market capitalization exceeding $92 billion [4] - The company has a dividend yield of 1.40%, an annual dividend of $3.30, and a 22-year track record of increasing dividends, with a payout ratio of 48.96% [5] - In the second quarter of 2025, Waste Management reported a 19% year-over-year increase in revenue, alongside strong earnings per share (EPS) [6] - Operating expenses have decreased to less than 60% of revenue, contributing to a solid free cash flow projection of nearly $3 billion for the year [7] Group 2: Eversource Energy - Eversource Energy, a major utility provider in the northeast, has a dividend yield of 4.63% and an annual dividend of $3.01, but a high payout ratio of 129.18% [9] - The company managed to slightly increase its EPS to 96 cents, surpassing analyst expectations, and reaffirmed its full-year EPS guidance [10] - Eversource's revenue grew by 12% year-over-year, although it fell short of predictions, with a permanent rate increase in New Hampshire expected to provide stability [11] Group 3: Johnson & Johnson - Johnson & Johnson boasts a dividend yield of 3.00%, an annual dividend of $5.20, and an impressive 64-year history of dividend increases, with a payout ratio of 55.61% [12][13] - The company exceeded EPS predictions by 9 cents and revenue estimates by nearly $900 million in its mid-July earnings report [13] - Growth is driven by its innovative medicine business, particularly in oncology, with potential peak sales of $5 billion for its drug candidate TAR200 [14]