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Florida Power & Light Company named national ReliabilityOne® award winner for reliability and value
Prnewswire· 2025-11-13 12:55
Core Points - Florida Power & Light Company (FPL) received the 2025 ReliabilityOne® National Reliability Award for outstanding service reliability to over 6 million customer accounts in Florida [1][2] - FPL was also honored with the national Reliability Value Award for maintaining low customer bills while investing in the electric grid [1][2] - FPL's reliability has ranked in the top 10% nationally for nearly a decade, with customer bills remaining below the national average [3] Performance Metrics - FPL achieved its best year for overall system reliability in 2024, with a 40% improvement in reliability over the past two decades and 59% better service reliability than the national average [3][7] - 82% of FPL's main power lines are hardened, serving critical services like hospitals and 911 call centers [7] - 96% of FPL's transmission structures are made of steel or concrete, enhancing durability [7] - Since 2019, over 3,200 projects have converted neighborhood power lines underground, improving resilience [7] - FPL has installed 227,000 intelligent devices across its grid, preventing outages and enabling faster restoration, avoiding 15 million customer outages since 2011 [7] Recognition and Commitment - This marks the eighth time in eleven years that FPL has received the national reliability award, and it is the first recipient of the national Reliability Value Award [5] - FPL's Vice President of Power Delivery emphasized the company's commitment to reliable service and investment in smart grid technology [4] - PA Consulting's ReliabilityOne® Program Director highlighted FPL's leadership in delivering reliable and resilient service [4]
Hydro One Reports Third Quarter Results
Prnewswire· 2025-11-13 12:04
Core Insights - Hydro One reported strong financial results for Q3 2025, with revenues of CAD 2,299 million, a 4.9% increase from CAD 2,192 million in Q3 2024, and net income attributable to common shareholders of CAD 421 million, up from CAD 371 million in the previous year [3][6][4] Financial Performance - Revenues for the nine months ended September 30, 2025, reached CAD 6,773 million, compared to CAD 6,389 million in the same period of 2024, reflecting a year-over-year increase of 6% [3][6] - Basic earnings per share (EPS) for Q3 2025 were CAD 0.70, compared to CAD 0.62 in Q3 2024, marking a 12.9% increase [4][6] - Net cash from operating activities for the third quarter was CAD 713 million, an increase from CAD 623 million in the same quarter of 2024 [3][6] Capital Investments and Projects - Hydro One made capital investments of CAD 779 million in Q3 2025, slightly higher than CAD 773 million in Q3 2024 [3][9] - The company placed CAD 577 million of new assets in service during the quarter, compared to CAD 597 million in the same period last year [3][9] - The St. Clair Transmission Line Project, with an investment of CAD 471.9 million, aims to enhance economic and community development in southwestern Ontario [11] Community Engagement and Sustainability - Hydro One's employees raised over CAD 2.1 million for Canadian causes during the annual Power to Give Month campaign, with funds matched by the company [4] - The company recognized 28 Indigenous communities and organizations with CAD 25,000 each from its Energizing Life Funds to support local initiatives [12] - Hydro One was awarded the Ontario Energy Association's Company of the Year Award for the second consecutive year, highlighting its commitment to community investment and sustainability [4] Operational Highlights - The average monthly peak demand for electricity in Ontario was 23,080 MW in Q3 2025, up from 22,694 MW in Q3 2024, indicating growing electricity demand in the region [3][6] - Operation, maintenance, and administration costs remained comparable to the prior year, while depreciation and financing charges increased due to higher capital assets and long-term debt [7][8]
PSEG Long Island Tops the J.D. Power 2025 Business Customer Satisfaction Study in the East Large Segment
Prnewswire· 2025-11-12 17:33
Core Insights - PSEG Long Island has achieved the highest customer satisfaction ranking among business customers in the East Large Segment according to the J.D. Power 2025 Electric Utility Business Customer Satisfaction Study, marking a significant improvement over the past 11 years [1][3] Customer Satisfaction - The company ranked 1 in four key categories: Digital Channels, People, Cost, and Information Provided, as rated by business customers in the J.D. Power survey [3] Customer Base - PSEG Long Island serves approximately 1.2 million electric customers, including over 130,000 commercial customers [3] Programs and Incentives - The company offers various programs for business customers, such as free energy assessments, economic development grants, bill credit programs, energy efficiency rebates, and incentives for electric vehicles and chargers [4] - PSEG Long Island has provided over $2.8 million in economic development initiatives since 2018 to support local business owners [5] Main Street Revitalization Grants - The Main Street Revitalization program has awarded nearly $2 million in grants to 72 businesses, resulting in the creation of approximately 1,200 new jobs [6] - The program incentivizes businesses to undertake renovation or expansion projects to stimulate local economic growth [6] Additional Support Programs - The Vacant Space Revival program offers up to $10,000 in electric bill discounts for new businesses during their first year, with over $400,000 distributed to more than 170 new businesses since 2018 [7] - Local business groups can also apply for improvement and beautification grants of up to $10,000 under the CommunityThrive Program [8][9] Energy Efficiency Initiatives - PSEG Long Island's Energy Efficiency group provides significant rebates for various energy-saving measures, helping business owners reduce costs and carbon footprints [10]
NextEra Energy to participate in EEI Financial Conference and meet with investors throughout November
Prnewswire· 2025-11-07 21:15
Accessibility StatementSkip Navigation JUNO BEACH, Fla., Nov. 7, 2025 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) today announced that members of the senior management team will participate in the EEI Financial Conference from Sunday, Nov. 9, 2025, through Tuesday, Nov. 11, 2025, and participate in various investor meetings throughout November. They plan to discuss, among other things, long-term growth-rate expectations for NextEra Energy. Investors and other interested parties can access a copy of the ...
Duke Energy kicks off monthlong campaign providing more than $600,000 to help fight hunger in South Carolina
Prnewswire· 2025-11-07 15:44
Core Points - Duke Energy, with support from the Duke Energy Foundation, has launched its annual campaign to address food insecurities in South Carolina, highlighting the urgent need for assistance as colder weather and the holiday season approach [2][5][8] - The campaign aims to support over 60 feeding programs, providing more than $600,000 in funding, and includes a significant contribution of $100,000 to the One SC Fund to aid food banks across the state [7][8][15] - The initiative is crucial as over 750,000 individuals in South Carolina face hunger, with 1 in 6 being children, emphasizing the importance of community support for local food banks and organizations [4][8] Company Initiatives - Duke Energy has committed over $2.6 million since 2021 to support local agencies addressing food insecurity [7] - The campaign commenced with a volunteer event called Yam Jam, where 50,000 pounds of sweet potatoes were packaged for holiday food boxes [7][9] - Duke Energy Foundation has also contributed $105,000 to FoodShare South Carolina and its partner organizations, demonstrating a strong commitment to community engagement [9] Community Impact - The campaign will culminate in surprise grant announcements on Giving Tuesday, reinforcing the ongoing need for support in local communities [8] - Local organizations, such as Mill Village Farms, are stepping up to fill gaps left by reduced federal support, ensuring food access for residents [9] - Duke Energy aims to raise awareness about the critical work of community partners fighting hunger, encouraging continued support from the public [9]
New Generation Facilities Proposed by FirstEnergy to Spark Job Growth and Economic Opportunity in West Virginia
Prnewswire· 2025-11-06 22:17
Core Insights - FirstEnergy plans to construct a 1,200-megawatt combined-cycle natural gas power plant and 70 megawatts of utility-scale solar in West Virginia, aiming to generate over 3,260 jobs and $68 million in tax revenue [1][2][4] - The project is part of FirstEnergy's commitment to providing reliable energy and supporting local economic growth, with ongoing operations expected to support nearly 2,200 jobs and $85.9 million in annual tax revenue [4][5] - The investment aligns with West Virginia's energy goals, including the "50 by 50" initiative to increase energy capacity to 50 gigawatts by 2050 [9] Job Creation and Economic Impact - The construction phase of the new gas plant is projected to create over 3,260 jobs [1] - Ongoing operations of the plant are estimated to support nearly 2,200 direct and indirect jobs [4] - The project is expected to generate $85.9 million in annual state and local tax revenue from its operations [4] Infrastructure and Reliability - FirstEnergy is committed to modernizing the electric grid in West Virginia, including upgrading transmission lines and implementing advanced grid technologies [7] - The new generation capacity will work alongside existing plants to ensure reliable power delivery [5][6] - The company plans to invest $5.2 billion in infrastructure enhancements in West Virginia between 2025 and 2029, with an additional $2.5 billion anticipated pending regulatory approval [8] Strategic Vision - FirstEnergy aims to position West Virginia as a hub for energy-intensive industries, attracting data centers and advanced manufacturers [6][7] - The planned generation capacity supports the state's long-term energy strategy and economic growth initiatives [9]
CON EDISON REPORTS 2025 THIRD QUARTER EARNINGS
Prnewswire· 2025-11-06 21:36
Financial Performance - Consolidated Edison reported a net income of $688 million or $1.91 per share for Q3 2025, an increase from $588 million or $1.70 per share in Q3 2024, representing a 17% increase in net income [1][11] - For the first nine months of 2025, net income was $1,726 million or $4.84 per share, compared to $1,510 million or $4.37 per share in the same period of 2024, marking a 14% increase [2][11] - Adjusted earnings for Q3 2025 were $686 million or $1.90 per share, up from $583 million or $1.68 per share in Q3 2024 [1][11] Strategic Initiatives - The company has reached a Joint Settlement Agreement on a three-year investment plan aimed at funding critical infrastructure investments while maintaining affordability and reliability [3] - Con Edison plans to complete the construction of 14 new substations and implement upgrades and storm resiliency measures by 2030 to support growing energy demands [3] Future Outlook - The company expects adjusted earnings per share for 2025 to be in the range of $5.60 to $5.70, slightly up from the previous forecast of $5.50 to $5.70 [3] - Adjusted earnings per share exclude specific impacts such as the basis difference of Con Edison's equity investment in Mountain Valley Pipeline and other strategic evaluations [3][8]
Ameren Announces Third Quarter 2025 Results
Prnewswire· 2025-11-05 21:30
Core Insights - Ameren Corporation reported a significant increase in net income for the third quarter of 2025, reaching $640 million or $2.35 per diluted share, compared to $456 million or $1.70 per diluted share in the same quarter of 2024 [1][10] - The adjusted net income for the third quarter of 2025 was $592 million or $2.17 per diluted share, up from $500 million or $1.87 per diluted share in the third quarter of 2024 [1][10] - The company expects to raise its earnings guidance for 2025 and 2026, reflecting positive operational performance and infrastructure investments [6][10] Financial Performance - For the nine months ended September 30, 2025, Ameren's GAAP net income attributable to common shareholders was $1,204 million or $4.43 per diluted share, compared to $975 million or $3.65 per diluted share for the same period in 2024 [3][10] - Adjusted net income for the nine months ended September 30, 2025, was $1,156 million or $4.25 per diluted share, compared to $1,030 million or $3.86 per diluted share in 2024 [3][10] Revenue and Expenses - Total operating revenues for the third quarter of 2025 were $2,699 million, up from $2,173 million in the third quarter of 2024 [19] - Operating expenses increased to $1,874 million in the third quarter of 2025 from $1,587 million in the same quarter of 2024, driven by higher fuel and purchased power costs [19] Segment Performance - Ameren Missouri's third quarter 2025 earnings were $518 million, compared to $381 million in GAAP and $415 million in adjusted earnings for the same quarter in 2024 [8] - The Ameren Transmission segment reported GAAP earnings of $151 million and adjusted earnings of $103 million for the third quarter of 2025, compared to $90 million and $100 million, respectively, in the third quarter of 2024 [9] Guidance and Expectations - Ameren raised its 2025 GAAP EPS guidance range to $5.08 to $5.28 and adjusted EPS guidance to $4.90 to $5.10, reflecting an increase from the previous guidance [6][10] - The company also established a diluted EPS guidance range for 2026 at $5.25 to $5.45 [7][10]
Ameren Corporation names new general counsel
Prnewswire· 2025-11-04 16:06
Core Insights - Ameren Corporation has appointed David M. Feinberg as executive vice president, general counsel, and corporate secretary, indicating a strategic move to enhance its legal and governance functions [1][2]. Company Overview - Ameren Corporation serves 2.5 million electric customers and over 900,000 natural gas customers across a 64,000-square-mile area through its subsidiaries, Ameren Missouri and Ameren Illinois [4]. Leadership Background - David M. Feinberg brings extensive experience, having previously served as executive vice president, general counsel, and corporate secretary at American Electric Power Company, Inc. since 2011 [2][3]. - Feinberg's career includes roles at Allegheny Energy, Inc. and as a partner at the law firm Jenner & Block in Chicago, showcasing a strong legal background [3].
Entergy elects retired Admiral Frank Caldwell to board of directors
Prnewswire· 2025-11-03 12:55
Core Viewpoint - Entergy Corporation has elected retired Admiral Frank Caldwell as an independent director, effective November 1, 2025, enhancing the board's expertise in nuclear operations and leadership [1][2]. Group 1: Board Composition and Leadership - With Admiral Caldwell's election, Entergy's board now consists of 12 directors, and he will serve on the nuclear and operations oversight, and talent and compensation committees [2]. - Drew Marsh, Entergy's chair and CEO, emphasized Admiral Caldwell's valuable perspective in meeting customer needs and regional demand [2]. Group 2: Admiral Caldwell's Background - Admiral Caldwell, aged 66, has a distinguished naval career, most recently serving as the director of the Naval Nuclear Propulsion Program from August 2015 until January 2024, overseeing operations for all U.S. Navy nuclear propulsion plants and a team of over 85,000 [3][4]. - His extensive experience includes roles such as director of the U.S. Navy Staff and Commander of the Submarine Force for the U.S. Pacific Fleet [4]. - He holds a bachelor's degree in marine engineering and a master's in operations research, along with numerous military honors [5]. Group 3: Company Overview - Entergy Corporation (NYSE: ETR) provides electricity to approximately 3 million customers across Arkansas, Louisiana, Mississippi, and Texas, focusing on growth, reliability, and affordable energy rates [5]. - The company is investing in cleaner energy generation, including natural gas, nuclear, and renewable sources, and contributes over $100 million annually in economic benefits to its communities [5].