“There is no doubt that coal production will come out of the system sooner than previously thought, allowing for a faster decarbonisation path. However, we firmly believe that thermal generation shutdowns should not occur outside of a coordinated plan between governments, industry, regulators and the community, ”AGL said when AEMORead More →
The UK government will invest £ 20million per year across the UK in tidal power electricity as part of its flagship renewable energy auction program, ushering in a whole new chapter for the tidal industry in Wales and creating jobs in the Welsh coastal areas. Yesterday’s announcement will unlock theRead More →
General Electric Co. GE 0.17% aims to create a market-leading power company as the conglomerate splits into three. But it faces fierce competition from rivals who are also repositioning their businesses to take advantage of the global renewables boom. GE this week announced plans to create a new, stand-alone companyRead More →
In October 2008, when Crane was COO, Chicago-based Exelon launched a hostile take-over bid for NRG Energy Inc. NRG was a merchant generation company, which means it sells electricity wholesale in deregulated markets rather than obtaining a regulated return like a traditional utility. The trading generation is more exposed toRead More →
ohu in recent years, General Electric (NYSE: GE) has sold assets at a rapid pace in an effort to simplify the business, pull out of less desirable lines of business and consolidate its struggling balance sheet. The GE Power unit has been a key target in this restructuring effort, afterRead More →
During the last years, General Electric (NYSE:GE) divested assets at a brisk pace in an effort to streamline the business, exit less desirable lines of business and shore up its struggling balance sheet. The GE Power unit has been a key target of this restructuring effort, after the segment’s revenuesRead More →
By Ron Bousso, Chris Prentice LONDON/WASHINGTON (Reuters) – BP has asked to supply U.S. residential customers with electricity generated from wind, solar and natural gas, betting on rapid growth in demand for electricity as economies give up fossil fuels to fight climate change. FILE PHOTO: Details are seen on aRead More →
This decision marks a dramatic turnaround for GE. Barely five years ago, the the company doubled the coal by acquiring the electricity business of Alstom, which manufactures coal turbines. The $ 9.5 billion deal – the biggest industrial purchase GE ever made – turned out to be a disaster. CoalRead More →