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Know-how in the use of renewable energies for battery storage

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Union rural development and panchayati raj minister Giriraj Singh told a recent conference that India was increasing its reliance on renewable energy, with plans to supply 50% of needs the country’s electricity from renewable sources by 2030. In addition, with the Paris Agreement of 2015, countries around the world are placing renewable energy at the heart of their environmental strategies to achieve net zero emissions. 2050.

But accelerating the transition from fossil fuels to renewables requires a solid technological infrastructure. A major challenge in the face of this change is energy storage. As there is an increasing emphasis on low-emission sources of electricity generation, there is a growing need to balance fluctuations in demand and supply.

While pumped hydro storage has been at the forefront of energy storage worldwide, it is rapidly losing attention given its geographic and environmental constraints. This paved the way for new technologies such as battery storage, which have become an essential element to better integrate huge volumes of variable renewable energy.

So what is battery storage?

Battery storage, also known as battery energy storage systems (BESS), stores and releases energy from renewable sources, such as solar and wind. It allows consumers to consume a higher percentage of self-generated renewable energy. This minimizes the need to feed additional electricity back into the grid and helps balance generation variability.

A steady increase in economic viability has introduced new uses for battery storage. These systems can also support the integration of additional low-carbon energy, heat and transport technologies. Additionally, they help companies move away from fossil fuels and optimize their energy consumption in a more commercially feasible way.

Here are some other ways renewables are powering battery storage technologies:

Longer life cycle
The introduction of the lithium battery and continued improvement in battery technology has reduced energy density. This has improved its life cycle and revolutionized the renewable energy industry globally.

Permanent availability
Although solar, wind and tidal energy are clean and renewable, they all have one major drawback: they are not available all the time. For example, to generate solar power, you need to pass sunlight through the grid, which you can only do during the day. Battery storage reduces the reliability of the grid power system. It stores excess energy, allowing you to use it whenever you need it. On days when your system is not producing the required amount of power, you can draw it from the storage battery instead of the grid.

Less dependence on power grids
Battery storage saves solar power generation costs compared to utility companies. Indeed, you can install the storage system locally. This eliminates power losses due to distribution and maintenance and reduces power dependency of Discoms. Sharing power among multiple users via blockchain systems will further enhance self-reliability.

Integrates multiple variable resources
Energy storage integrates various resources and facilitates smooth delivery of variable resources like wind or solar, by storing excess energy. It also supports efficient power delivery for inflexible and basic resources. When there are rapid fluctuations in demand and flexibility is needed, battery storage can extract or inject energy to meet the required load. This makes it a crucial component when your core resources cannot react quickly.

Therefore, to conclude, solar power generation cost will be cheaper with battery storage system. It can even compete with established utility companies. Moreover, with a local storage system and zero power loss for distribution and maintenance, users can become self-sufficient in the future.

A renewable energy system with storage solutions will also allow users to share electricity among themselves and free themselves from dependence on distribution companies. Maintaining cables from hundreds of kilometers, controlling power distribution and sustaining losses will be challenges of the past.

Moreover, for the growing electric vehicle industry, this system is a must. Without solar storage solutions for charging stations, we will be entirely dependent on the depletion of fossil fuels, which will reduce long-term sustainability.



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Disclaimer

The opinions expressed above are those of the author.



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Energy bills are high and not going down anytime soon. Here are ways to cut costs. | Siouxland Homes

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If you haven’t looked at your monthly utility bill lately, prepare for a shock when the cost of air conditioning comes due in the coming weeks. If the AC bill doesn’t raise your pulse, your heating bill next January might, assuming global energy markets remain unstable.

According to the most recent Consumer Price Index data, energy prices have risen 41.6% over the past year, the largest 12-month increase since April 1980. Energy led all other categories: the price of heating oil increased by 70%; piped gas is up 38%; and electricity is up 14%.

What can the average consumer do to control costs?

You can raise the thermostat in the summer (or lower it in the winter). Draw the shades on hot days. Buy a box fan to keep the air moving. Put on a sweater in winter. Convert to low power LED lighting.

The US Department of Energy’s Office of Energy Efficiency and Renewable Energy provides a step-by-step guide, including many suggested behavior changes that don’t require a financial commitment.

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Or you can take serious steps to improve your home’s energy efficiency. The cost of upgrades could pay dividends faster now that energy prices are higher.

Don’t wait for the weather to change

Energy experts say consumers were just beginning to get the idea of ​​upgrading their homes when big heating bills started rolling in last winter.

“But then the weather turns nice and we forget about energy efficiency until later,” said George Mullikin, program manager of CleaResult, which performs energy audits for Peco Energy customers. “So there’s definitely a seasonal aspect that drives him.”

Brett Baird, the office manager of Green Home Solutions, which does weatherization work in Pennsylvania and New Jersey under agreements with local utilities, said consumers are just beginning to educate themselves. “Generally, people tend to be a bit more worried as winter approaches, because that’s where the lion’s share of their costs are.”

Before starting an energy efficiency project, get a professional energy evaluation of your home. Most utilities will offer discounted evaluations from a certified auditor.

A comprehensive energy assessment will establish a plan of attack: it will recommend areas that need insulation, such as in the attic or crawl space, weather stripping and sealing possibilities, as well as lighting, appliances or the heating and ventilation systems that require it. repair or replacement.

Seal this thermal envelope

Experts who do weatherization work on behalf of utilities and state-funded programs, who must justify the work as cost-effective, say the best way to reduce energy costs is to reduce air leakage of a home’s interior by adding insulation and filling cracks – otherwise known as sealing a home’s thermal envelope.

“Air sealing is by far the most cost effective thing you can do in virtually any home, even more important than insulation,” said Steve Luxton, executive director of the Energy Coordinating Agency. (ECA), Philadelphia’s weatherproof nonprofit. residences for low-income clients in the region.

Insulation and weather stripping are super annoying stuff that doesn’t give you much bragging rights in the neighborhood like a new electric vehicle might. But there’s a quiet satisfaction in knowing that your crawl space is airtight with new foam insulation.

Buy high efficiency systems

If your current air conditioning or heating system is old and inefficient, it may also be worth replacing the system with newer, high-efficiency models.

“If you have a furnace that was built in the 70s or 80s, the efficiency will be in the 60% range,” Baird said. “We’re going to install a new one that’s about 96% to 98% efficient. So there are massive savings just on that.

Most utilities offer rebates to cover the cost of new energy-efficient appliances or heating systems. The money is often paid for by taxpayers, as part of government energy conservation mandates. Peco says its customers can get up to $435 in rebates for homes with central air conditioning and non-electric heating if they work through a participating contractor.

According to the New Jersey Board of Public Utilities, New Jersey Utilities offers 0% financing and incentives of up to $4,000 for whole-home energy upgrades performed by certified contractors. “New Jersey’s incentives are definitely more attractive,” said Baird, whose company works on both sides of the Delaware River. “They have a really phenomenal financing option.”

Low-income customers have an additional menu of options available through organizations such as the Energy Coordinating Agency. The US Department of Energy’s bloat assistance program, which targets low-income families, saves average households $372 a year in energy costs.

Pennsylvania this month authorized a one-time allocation of $125 million of unspent coronavirus money from the U.S. bailout for a new program called Whole-Home Repair, which provides grants of up to $50,000 to owners for projects such as weatherization and energy efficiency. The funding allows homeowners to repair leaky roofs, which must be repaired before contractors add new insulation to an attic. The main sponsor of the legislation was State Sen. Nikil Saval (D., Philadelphia).

ECA also recently received a one-time $150,000 grant for emergency replacement of water heaters, which are not usually covered by low-income programs. ECA administers the program through its helpline: 215-568-7190. The grant came from the Pennsylvania Department of Social Services at the request of State Sen. Sharif Street (D., Philadelphia).

The US Department of Energy also recently announced more than $40 million in federal funding to help provide home energy retrofits to low-income and underserved households.

Often the first thing consumers ask for is a window replacement. Everyone has heard the ads on the radio, promising big energy savings with new windows.

“If I ever have a boring day and want to fight back, all I have to say is this: Windows are the least cost-effective thing you can put in a house,” Luxton said. “And it’s guaranteed to get someone in the window industry up.”

Windows are an energy sieve, Luxton said. “The glass hasn’t changed, it might have a coating that slows the transmission of energy ever so slightly, but the energy is still moving through it,” he said. “So putting a new window really does nothing at all, or very little, anyway, compared to things that do a lot.”

Most energy efficiency programs funded by utilities or with public funds will not pay for window replacement, Mullikin said.

“If your windows are working well, not leaking too much, or can be sealed with inexpensive materials to make them less drafty, then that’s probably good enough. Replacing these windows can be very expensive and there is not much return on investment.

“There are all kinds of reasons to replace windows, but energy efficiency is probably not a good reason.

The US Department of Energy’s Office of Energy Efficiency and Renewable Energy provides a step-by-step guide to energy programs.

A good place to start is to contact your energy supplier, who will provide you with a range of free or discounted products and services. Most of these will help organize an energy assessment or audit, which will give the homeowner a cost-effective roadmap to reducing energy consumption.

©2022 The Philadelphia Inquirer. Visit inquirer.com. Distributed by Tribune Content Agency, LLC.

Oil prices end the week at multi-month lows on recession fears

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Oil pump cylinders are seen at the Vaca Muerta shale oil and gas field in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo

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Aug 5 (Reuters) – Oil prices rose on Friday, recouping some of this week’s losses on strong U.S. job growth, but ended the week at their lowest levels since February, rocked by fears that a recession could affect fuel demand.

Brent crude settled 80 cents at $94.92 a barrel, 11% below last Friday’s settlement. U.S. West Texas Intermediate crude gained 47 cents to $89.01, down 8% on the week.

U.S. job growth unexpectedly accelerated in July, with nonfarm payrolls rising by 528,000 jobs, the largest gain since February, the U.S. Labor Department reported. Read more

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“It’s strong economic data supporting the bullish oil market today,” said Bob Yawger, director of energy futures at Mizuho.

This week, oil traders worried about inflation, economic growth and demand, but signs of tight supply kept prices bottoming.

The number of oil rigs, an early indicator of future production, fell by seven to 598 in the week to August 5, the first weekly drop in 10 weeks, energy services company Baker Hughes said on Friday. Co BKR.O in its report followed closely. .

Recession concerns have intensified since the Bank of England warned on Thursday of a prolonged slowdown after raising interest rates to the highest since 1995. read more

“Obviously everyone is taking the threat of recession much more seriously as we still see a very tight market and producers unable to change that,” said Craig Erlam, senior market analyst at Oanda in London.

Supplies were still relatively tight, with rapid prices still higher than those in the coming months, a market structure known as carryover.

The OPEC+ producer group agreed this week to raise its oil production target by 100,000 barrels per day (bpd) in September, but it is one of the smallest increases since those quotas were introduced. in 1982, according to OPEC data. Read more

Supply problems are expected to increase as winter approaches, with European Union sanctions banning maritime imports of Russian crude and petroleum products due to come into effect on December 5.

“With the EU halting Russian imports by sea, the key question is whether Middle Eastern producers will re-route their barrels to Europe to fill the void,” RBC analyst Michael Tran said. .

“How this Russian policy of oil sanctions plays out will be one of the most important issues to watch for the rest of the year.”

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Reporting by Noah Browning; edited by David Evans, Kirsten Donovan and David Gregorio

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The New York State Common Retirement Fund sells 3,604 shares of Targa Resources Corp. (NYSE: TRGP)

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The New York State Common Retirement Fund has reduced its stake in shares of Targa Resources Corp. (NYSE: TRGPGet a rating) by 1.5% in the first quarter, according to the company in its most recent filing with the SEC. The company held 235,578 shares of the pipeline company after selling 3,604 shares during the quarter. The New York State Common Retirement Fund held approximately 0.10% of Targa Resources worth $17,779,000 when it last filed with the SEC.

A number of other institutional investors also changed their positions in TRGP. BlackRock Inc. increased its holdings of Targa Resources shares by 7.3% in the fourth quarter. BlackRock Inc. now owns 21,959,815 shares of the pipeline company valued at $1,147,183,000 after purchasing an additional 1,499,300 shares in the last quarter. First Trust Advisors LP increased its holdings of Targa Resources shares by 324.0% in the fourth quarter. First Trust Advisors LP now owns 1,205,000 shares of the pipeline company valued at $62,949,000 after buying 920,818 additional shares in the last quarter. Russell Investments Group Ltd. increased its holdings of Targa Resources shares by 114.8% in the first quarter. Russell Investments Group Ltd. now owns 1,179,991 shares of the pipeline company valued at $89,054,000 after purchasing an additional 630,766 shares in the last quarter. Point72 Asset Management LP increased its holdings of Targa Resources shares by 87.3% in the fourth quarter. Point72 Asset Management LP now owns 1,343,363 shares of the pipeline company valued at $70,177,000 after purchasing an additional 625,975 shares in the last quarter. Finally, Fractal Investments LLC bought a new position in shares of Targa Resources in the fourth quarter valued at approximately $22,406,000. 91.93% of the shares are held by institutional investors.

Targa Resource Price Performance

Targa Resources stock opened at $63.94 on Friday. The company has a market capitalization of $14.58 billion, a P/E ratio of -110.24 and a beta of 2.46. Targa Resources Corp. has a 1-year low of $39.06 and a 1-year high of $81.50. The company has a 50-day moving average of $65.15 and a 200-day moving average of $67.48. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt ratio of 1.73.

Targa Resources (NYSE: TRGPGet a rating) last reported results on Thursday, May 5. The pipeline company reported earnings per share (EPS) of $0.06 for the quarter, missing the consensus estimate of $0.89 per ($0.83). The company posted revenue of $4.96 billion for the quarter, versus analyst estimates of $6.07 billion. Targa Resources posted a positive return on equity of 8.24% and a negative net margin of 0.22%. In the same quarter a year earlier, the company posted earnings per share of $0.53. On average, stock analysts expect Targa Resources Corp. will post an EPS of 3.24 for the current year.

Targa Resources announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 15. Shareholders of record on Friday, July 29 will receive a dividend of $0.35 per share. The ex-date of this dividend is Thursday, July 28. This represents an annualized dividend of $1.40 and a dividend yield of 2.19%. Targa Resources payout ratio is currently -241.38%.

Insider Trading at Targa Resources

In related news, the director Paul W.Chung sold 3,568 shares of the company in a transaction that took place on Monday, May 16. The stock was sold at an average price of $73.34, for a total value of $261,677.12. Following completion of the transaction, the administrator now directly owns 240,641 shares of the company, valued at approximately $17,648,610.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. In related news, Insider D. Scott Pryor sold 20,000 shares of the company in a transaction that took place on Wednesday, May 18. The stock was sold at an average price of $71.33, for a total value of $1,426,600.00. Following the completion of the transaction, the insider now directly owns 81,233 shares of the company, valued at approximately $5,794,349.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, director Paul W. Chung sold 3,568 shares of the company in a transaction that took place on Monday, May 16. The shares were sold at an average price of $73.34, for a total value of $261,677.12. Following completion of the transaction, the director now owns 240,641 shares of the company, valued at $17,648,610.94. Disclosure of this sale can be found here. Company insiders own 1.10% of the company’s shares.

A Wall Street analyst gives his opinion

A number of research companies have recently published reports on the TRGP. US Capital Advisors reaffirmed a “buy” rating on Targa Resources shares in a Monday, July 25 report. Wells Fargo & Company lowered its price target on Targa Resources to $83.00 and set an “overweight” rating for the company in a Friday, May 20 report. Morgan Stanley raised its price target on Targa Resources from $103.00 to $105.00 and gave the stock an “overweight” rating in a Wednesday, July 20 report. Barclays lowered its price target on Targa Resources from $92.00 to $87.00 and set an “overweight” rating for the company in a Wednesday July 20 report. Finally, Royal Bank of Canada raised its price target on Targa Resources from $90.00 to $100.00 and gave the stock an “outperform” rating in a Tuesday, July 12 report. One investment analyst gave the stock a hold rating, ten gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $81.36.

Targa Resource Profile

(Get a rating)

Targa Resources Corp., together with its subsidiary, Targa Resources Partners LP, owns, operates, acquires and develops a portfolio of midstream energy assets in North America. The Company operates in two segments, Collection and Processing, and Logistics and Transportation. It is engaged in the gathering, compression, treatment, processing, transportation and sale of natural gas; storage, fractionation, processing, transportation and sale of natural gas liquids (NGLs) and NGL products, including services to liquefied petroleum gas exporters; and the gathering, storage, terminal, purchase and sale of crude oil.

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Institutional ownership by quarter for Targa Resources (NYSE:TRGP)



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Seaport Res Ptn weighs on Diamondback Energy, Inc.’s third quarter 2022 results (NASDAQ:FANG)

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Diamondback Energy, Inc. (NASDAQ:FANG – Get Rating) – Analysts at Seaport Res Ptn dropped their third quarter 2022 earnings estimates for Diamondback Energy in a report released Monday, August 1. Seaport Res Ptn analyst N. Pope now expects the oil and gas company to post earnings of $7.26 per share for the quarter, down from its previous forecast of $7.33. The consensus estimate for Diamondback Energy’s current annual earnings is $25.73 per share. Seaport Res Ptn also released Diamondback Energy earnings estimates for the fourth quarter of 2022 at $6.37 EPS.

Diamondback Energy (NASDAQ:FANG – Get Rating) last reported quarterly results on Monday, August 1. The oil and gas company reported earnings per share (EPS) of $7.07 for the quarter, beating the consensus estimate of $6.58 by $0.49. Diamondback Energy had a net margin of 42.23% and a return on equity of 25.12%. The company posted revenue of $2.77 billion for the quarter, versus $2.44 billion expected by analysts. In the same quarter of the previous year, the company had earned earnings per share of $2.40. Diamondback Energy’s quarterly revenue increased 64.7% year over year.

Several other stock analysts have also recently released reports on the stock. KeyCorp raised its price target on Diamondback Energy shares from $152.00 to $164.00 and gave the company an “overweight” rating in a Friday, April 8 research report. Truist Financial raised its price target on shares of Diamondback Energy from $185.00 to $203.00 in a Tuesday, July 19 report. Susquehanna raised its price target on Diamondback Energy shares from $152.00 to $167.00 and gave the stock a “positive” rating in a Monday, April 25 report. Piper Sandler cut its price target on Diamondback Energy shares from $196.00 to $191.00 and set an “overweight” rating on the stock in a Friday July 22 report. Finally, MKM Partners restated a “buy” rating and issued a $155.00 price target on Diamondback Energy shares in a Wednesday, July 20 report. Three investment analysts gave the stock a hold rating, fourteen issued a buy rating and one issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a “Moderate Buy” consensus rating and an average price target of $169.42.

Diamondback Energy Price Performance

NASDAQ FANG shares opened at $116.45 on Thursday. Diamondback Energy has a 1-year low of $65.93 and a 1-year high of $162.24. The company has a debt ratio of 0.38, a current ratio of 0.73 and a quick ratio of 0.69. The company’s 50-day moving average is $129.17 and its 200-day moving average is $131.58. The stock has a market capitalization of $20.67 billion, a P/E ratio of 5.44, a P/E/G ratio of 0.23 and a beta of 2.12.

Diamondback Energy increases its dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 23. Investors of record on Tuesday, August 16 will receive a dividend of $3.05 per share. This is an increase from Diamondback Energy’s previous quarterly dividend of $0.70. The ex-dividend date is Monday, August 15. This represents a dividend of $12.20 on an annualized basis and a yield of 10.48%. Diamondback Energy’s dividend payout ratio is 13.09%.

Diamondback Energy announced that its board of directors launched a stock repurchase program on Monday, August 1 that sees the company repurchase $4.00 billion worth of stock. This repurchase authorization allows the oil and gas company to repurchase up to 17.9% of its shares through open market purchases. Share repurchase programs usually indicate that the company’s board of directors believe its shares are undervalued.

Insider Activity at Diamondback Energy

In related news, CAO Teresa L. Dick sold 2,500 shares in a trade that took place on Friday, May 27. The shares were sold at an average price of $152.22, for a total transaction of $380,550.00. Following the transaction, the chief accounting officer now owns 57,308 shares of the company, valued at $8,723,423.76. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In related news, CAO Teresa L. Dick sold 2,500 shares in a trade that took place on Friday, May 27. The shares were sold at an average price of $152.22, for a total transaction of $380,550.00. Following the transaction, the chief accounting officer now owns 57,308 shares of the company, valued at $8,723,423.76. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, Hof Chief Financial Officer Matthew Kaes Van’t sold 6,000 shares in a trade that took place on Friday, May 27. The shares were sold at an average price of $150.00, for a total transaction of $900,000.00. Following the transaction, the CFO now owns 67,334 shares of the company, valued at approximately $10,100,100. The disclosure of this sale can be found here. Insiders sold a total of 44,500 shares of the company worth $6,740,850 during the last quarter. Insiders of the company own 0.42% of the shares of the company.

Institutional entries and exits

Institutional investors have recently increased or reduced their stake in the company. Carolinas Wealth Consulting LLC increased its position in Diamondback Energy by 366.7% in the first quarter. Carolinas Wealth Consulting LLC now owns 224 shares of the oil and gas company worth $31,000 after acquiring 176 additional shares during the period. Cambridge Trust Co. raised its position in Diamondback Energy by 1,991.7% in the first quarter. Cambridge Trust Co. now owns 251 shares of the oil and gas company worth $34,000 after acquiring 239 additional shares during the period. MCF Advisors LLC bought a new position in Diamondback Energy in the first quarter worth approximately $35,000. Mark Sheptoff Financial Planning LLC bought a new position in Diamondback Energy in the first quarter worth around $41,000. Finally, Global Retirement Partners LLC increased its position in Diamondback Energy by 51.8% in the second quarter. Global Retirement Partners LLC now owns 334 shares of the oil and gas company worth $40,000 after acquiring 114 additional shares during the period. 89.97% of the shares are currently held by institutional investors.

Diamondback Energy Company Profile

(Get a rating)

Diamondback Energy, Inc, an independent oil and gas company, is focused on the acquisition, development, exploration and exploitation of unconventional and onshore oil and natural gas reserves in the Permian Basin of western Texas. It covers the development of the Spraberry and Wolfcamp formations of the Midland Basin; and the Wolfcamp and Bone Spring formations of the Delaware Basin, which are part of the Permian Basin in western Texas and New Mexico.

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Earnings history and estimates for Diamondback Energy (NASDAQ:FANG)



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Nearly $1 million in DEP grants for ed. projects | New

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HARRISBURG – The Pennsylvania Department of Environmental Protection announced that $900,000 in grants are available for environmental education projects.

Environmental education grants are available for schools, colleges, community and environmental nonprofit organizations, county conservation districts, and businesses.

American Electric Power: a solid stock at an attractive valuation

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SimonSkafar

Investment thesis

American Electric Power Company, Inc. (NASDAQ: AEP) is the largest electric utility company in the United States, headquartered in Columbus, Ohio. In this thesis, I will mainly analyze AEP’s Q2 2022 results and its future growth drivers. I will also analyze the risks run by the company and its valuation at current price levels. I believe AEP is a growing company with a stable dividend yield. I am giving AEP a buy rating after considering all of these factors.

Company presentation

AEP is an electric utility company providing electricity in 11 states, serving more than 5 million customers. It is one of the largest electricity supply companies in the United States. The company generates, transmits and distributes electricity to direct consumers as well as to other electricity companies. It has approximately 224,000 circuit miles of distribution lines to supply electricity to individual households and commercial properties. The company has nearly 22,500 MW of regulated power generation capacity. It generates electricity through various methods, some of which are environmentally friendly sources. AEP primarily generates electricity through nuclear, hydro, solar, wind, coal and natural gas sources and methods. The company’s great advantage in the market is the vertical integration of its generation, transmission and distribution facilities. This integration ensures that activities run smoothly with limited dependence on external sources.

Q2 2022 results

AEP reported excellent results for the second quarter of 2022, beating market revenue estimates by 16.5%. Reported EPS was in line with market expectations. The company also reaffirmed FY22 revenue and EPS guidance. AEP also plans to grow its renewable energy portfolio to 50% by 2030 and is in talks to acquire several renewable energy assets for reach this goal. It has seen strong demand and expects steady demand throughout FY22.

American Electric Power income statement

DRY: 10Q AEP

AEP reported revenue from vertically integrated utilities of $2.6 billion, a 16.8% increase over second-quarter 2021 revenue of $2.2 billion. According to my analysis, the increase in electricity prices, complemented by increased demand, was the main driver of income. Revenue from transmission and distribution utilities was $1.3 billion, a 19% increase from $1.09 billion in the same quarter a year earlier. Rising prices were the main contributing factor to the increase in revenue. The company reported total revenue of $4.6 billion, an increase of 21% compared to $3.8 billion in the corresponding quarter of the previous fiscal year. I believe the company will maintain revenue in FY22 and FY23 by increasing production capacity and expanding into other states. The company reported total expenses of $3.6 billion, up from $3 billion in the second quarter of 2021, an increase of 20%. According to my analysis, the increase in raw material prices and the cost of labor were the main factors for the increase in expenses. It reported non-GAAP net income of $617.7 million, compared to $589.5 million in the second quarter of 2021, an increase of 5%. The increase could be even higher if the one-time equity loss of $165 million from unconsolidated subsidiaries is not taken into account. Non-GAAP EPS was reported at $1.20. The company also announced a dividend of $0.78 payable on September 9, 2022. This gives us an annualized dividend yield of 3.11% at the current price level.

Overall, the company posted strong results in the second quarter of 2022 with considerable improvement across all segments. The company reaffirmed its non-GAAP EPS estimates for FY22 in the range of $4.87 to $5.07. I think the company’s EPS estimates are conservative and my estimate is that FY22 EPS could be between $5.10 and $5.25. The company is constantly trying to expand its business and increase its renewable energy portfolio, which I believe will be crucial for the growth of the company in the years to come.

Nicholas K. Akins, AEP President, President and CEO, said,

We are making significant progress on our plan to responsibly transform our generation fleet as we strive to add approximately 16,000 megawatts of regulated renewable generation by 2030 and achieve our goal of net zero emissions by 2050 Appalachian Power recently received approval to own 409 megawatts of wind and solar, and SWEPCO filed regulatory approval in May to purchase three renewable energy projects totaling 999 megawatts. We are currently researching new wind and solar proposals in several states and continue to add generation in accordance with our integrated resource plans to better meet the future energy needs of our customers. We are also making substantial progress on our planned investments of nearly $25 billion in transmission and distribution from 2022 to 2026, as we develop a modern, reliable and resilient energy network that will benefit our customers. Our Transmission Holding Co.’s net plant increased by $1.2 billion, or 10.5%, since June 2021.

Key risk factor

Changes in technology and regulatory policies: The majority of AEP’s electricity is generated at large central facilities. Its transmission and distribution infrastructure is distributed to customers, usually under an exclusive franchise. Compared to dispersed generation using new or existing technologies and technical advances such as fuel cells and microturbines, this strategy achieves economies of scale and generally reduces costs. Other technologies, such as light-emitting diodes (LEDs), make electricity more efficient, reducing demand. Spending on emerging technologies is falling to a point where it is competitive with some power generation and distribution plants due to changes in regulatory rules and advances in energy storage technologies like batteries, wind turbines and cells photovoltaic solar panels. These advances may threaten AEP’s ability to compete to maintain reasonably affordable and reliable operations, fair regulatory frameworks, and cost-effective customer programs and services. Additionally, if alternative generation resources are introduced into the available generation supply and mandated by regulation or legislation may be commercially viable, this may displace units of generation with higher marginal cost, lowering the price at which market players sell their electricity. This is why I believe that technological advancements and regulatory policies can be a major challenge for the future growth of the company.

Evaluation

The company is currently trading at $98.46 with a market capitalization of $50.91 billion. At the current valuation, the company is trading at a PE multiple of 20.77x. The company posted strong quarterly results and is seeing increased demand. After taking these two factors into account, I estimated EPS at $5.25 for FY22, which gives us the main PE multiple of 18.75x. Due to growing demand, I believe the company could be trading at a higher PE multiple of 24.5x, giving the target price of $128.6, which is a 30.6% upside from at the current level. The company has a dividend yield of 3.11% at current price levels, which is another attractive factor for investors looking for a safe and stable dividend yield. According to Seeking Alpha’s dividend rating, the company’s dividend payout is safe, growing, and consistent as it has A- safe, B+ growing, and A+ consistent.

Conclusion

AEP released strong second quarter 2022 results and reaffirmed its guidance for fiscal year 2022. I believe the company will beat market estimates in the coming quarters with increased demand and rising power prices . The company is currently trading at an attractive P/E multiple of 18.75x, which may be an ideal entry point for investors. The company also boasts an attractive annualized dividend yield of 3.11%. After considering all these factors, I give AEP a buy rating.

Climate Adaptive Infrastructure and Meridian Clean Energy Announce Strategic Partnership | national company

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SAN FRANCISCO–(BUSINESS WIRE)–August 2, 2022–

Climate Adaptive Infrastructure, LLC (“CAI”), an investment company financing low-carbon energy, water and transportation infrastructure, and Meridian Clean Energy (“Meridian”), owner and developer of an energy project enabling a future carbon-free energy system, today announced their strategic partnership. Their first investment is the acquisition of a 25% interest in the Sentinel Energy Center, an 850 MW peak power plant in Riverside, California.

Sentinel Energy Center operates eight large turbines, creating one of the most efficient and flexible peaking power plants in Southern California. Sentinel’s rapid start-up capability allows it to efficiently bridge the peaks and troughs created by the 11 gigawatts of intermittent wind and solar resources surrounding the plant and serving the greater Los Angeles Basin.

“We are excited to initiate our strategic partnership with Meridian Clean Energy and acquire a significant stake in Sentinel, a key to the ongoing decarbonization of the Southern California energy market,” said Bill Green, Founder and managing partner of CAI. “Together with the Meridian team and our Sentinel partners, we plan to demonstrate how natural gas-dependent peaks can be decarbonized, while contributing to the energy security of large, complex utility networks. We look forward to working with Meridian to replicate this program in other markets, driven by utility demand for decarbonized grid stabilization capacity.

“As California pursues its decarbonization goals, Sentinel works to stabilize the increasingly renewable-powered grid. We are excited to partner with CAI on this asset, which is critical to the continued deployment of the wind and solar on the CAISO system and will be a key asset in decarbonizing the grid,” said John Woolard, CEO of Meridian Clean Energy.

About Climate Adaptive Infrastructure

Climate Adaptive Infrastructure, LLC (“CAI”) is an infrastructure investment firm specializing in low-carbon real estate assets in the energy, water and transportation sectors. CAI finances large-scale investments in low-carbon infrastructure that can withstand the structural risks and economic pressures of the climate crisis and that can provide CAI and its financial partners with a viable hedge against climate losses.

About Meridian Clean Energy

Meridian Clean Energy is focused on owning and developing power generation and storage assets with the flexibility and reliability to enable a future carbon-free energy system. The Meridian team brings deep experience in all types of power generation and integrating the latest technologies at utility scale.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220802005432/en/

CONTACT: For Climate-Smart Infrastructure

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KEYWORD INDUSTRY: FINANCE ENERGY ALTERNATIVE ENERGY PROFESSIONAL SERVICES PUBLIC SERVICES

SOURCE: Climate Adaptive Infrastructure, LLC

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PUBLISHED: 02/08/2022 09:00/DISC: 02/08/2022 09:02

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Copyright BusinessWire 2022.

CUC delays proposed 5.4% base rate hike

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(CNS): There will be no increase in the base rate that the Caribbean Utilities Company charges customers this summer, as Grand Cayman’s electric utility delayed its annual increase until January. CUC said it made the decision not to increase the base rate, which was expected to be around 5.4%, due to “increasing financial challenges some customers are facing due to fuel price costs and ‘other goods and services’. . The CUC will also freeze disconnection fees and finance charges for bills issued from August to October.

Under the CUC license, the company can increase the rate it charges each year based on a formula tied to inflation or the price level index. This is a weighted average of 60% of the change in the Cayman Islands Consumer Price Index and 40% of the change in the US CPI. The CUC said that for 2022, the calculation led to a 5.4% increase, which would have come into effect on June 1, assuming the Office of Utilities Regulation and Competition (OfReg) had authorized this. substantial increase.

However, CUC said it had offered OfReg to postpone the rate increase and related revenue recovery until January, and OfReg agreed. CUC President and CEO Richard Hew said it would ease the burden on residents and businesses at a time when they need it most.

“CUC is committed to providing continued support to its customers and it was important that we reached an agreement with OfReg to defer rate increases relating to the energy load component of customer bills until 2023. CUC is well aware that if the increase was implemented in accordance with our licenses, an increase in base rates in June 2022 could have been difficult for many of our customers to bear,” he said. “The ability to recoup revenue in the future is necessary to maintain this financial stability and to meet society’s ongoing obligations to invest in infrastructure and provide safe, reliable and sustainable electricity service.

CUC revealed its unaudited financial accounts for the first six months of 2022 last week, which showed an increase in revenue so far this year compared to 2021 of almost $2 million. Given the volatility of fuel costs, customers paid an average of 7 cents more per kWh due to the fuel factor compared to last year, and even higher bills are expected during the hot summer months .

While the government is subsidizing fuel costs on residential bills in July, August and September for homes using less than 2,000kWh per month, customers will have to pay the full fuel factor in October and can expect a new significant increase in bills in the new year.

CUC said it would help customers lower their bills through energy-saving programs. The company also foresees additional long-term relief to customers with the implementation of large-scale renewables on its grid in the near future.

Meanwhile, an outage on Sunday morning knocked out power to around 11,000 homes. The CUC has yet to state the cause, but power was restored to everyone Sunday afternoon.

See the full CUC press release below:


Ameresco: Overview of Second Quarter Results

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FRAMINGHAM, Mass. (AP) _ Ameresco (AMRC) reported second-quarter profit of $32.2 million on Monday.

The Framingham, Mass.-based company said it had net earnings of 61 cents per share. Earnings, adjusted for one-time costs, were 62 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts polled by Zacks Investment Research was for earnings of 45 cents per share.

The energy services company posted revenue of $577.4 million during the period, also beating Street’s forecast. Seven analysts polled by Zacks expected $533.4 million.

Ameresco expects annual earnings of between $1.85 and $1.95 per share, with revenue of between $1.83 billion and $1.87 billion.

Shares of Ameresco are down 29% year-to-date. In the final minutes of trading on Monday, shares hit $57.81, a 16% drop in the past 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMRC at https://www.zacks.com/ap/AMRC

EXCLUSIVE Luxembourg banks have been told to freeze Ecuadorian assets in Perenco dispute, documents show

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LONDON, Aug 1 (Reuters) – A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador in accounts in the country following a dispute over a $391 million settlement fee that , according to the Anglo-French oil company Perenco, remains unpaid, according to a document seen by the Reuters broadcast.

The Ecuadorian government pledged in June 2021 to honor the debt granted to Perenco by the World Bank’s International Center for Settlement of Investment Disputes (ICSID), which ruled that Ecuador had illegally terminated a production sharing agreement with the company. The country’s solicitor general said last year that due to financial difficulties, the government had contacted Perenco to negotiate a payment plan. Read more

“To date, more than a year later, Perenco has still not received a single dollar from Ecuador,” Perenco said in a statement on Monday, adding that it will “take steps to enforce its rights payment against Ecuador in Luxembourg and other jurisdictions”.

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Ecuador’s Ministry of Economy and Ministry of Energy were not immediately available for comment outside of normal business hours. Global law firm Hogan Lovells, Ecuador’s legal counsel on US law, declined to comment.

A spokesman for the London office of Cleary Gottlieb Steen & Hamilton LLP’s, the dealer manager’s legal advisers on Ecuadorian Eurobonds, did not immediately respond to a request for comment.

A document seen by Reuters shows that a Luxembourg bailiff, Pierre Biel & Geoffrey Galle, on July 28 ordered 122 banking entities operating in Luxembourg to freeze the assets of accounts used by Ecuador on behalf of Perenco. An employee of the bailiff declined to comment when contacted by Reuters because he is not authorized to speak to parties not involved in the case.

Reuters could not immediately establish what assets Ecuador held in Luxembourg accounts. Banks named included Deutsche Bank, Credit Suisse and HSBC.

Credit Suisse and Deutsche Bank declined to comment, while HSBC did not immediately respond to requests for comment.

Two years ago, the Latin American country defaulted on $17.4 billion in external debt as the country collapsed under one of the region’s worst coronavirus outbreaks after years of economic stagnation. .

As part of the debt restructuring that followed, Ecuador sold new bonds maturing in 2030, 2035 and 2040 which are listed on the Luxembourg Stock Exchange.

Many of these bonds had interest payments due July 31.

It was not immediately clear what impact a freeze might have on Ecuador’s ability to make those payments. Ecuadorian international bondholders include major asset managers such as BlackRock, PIMCO and JPMorgan, according to data available on EMAXX, which provides details of fund holdings based on their public disclosures. PIMCO declined to comment, while BlackRock and JPMorgan were not immediately available for comment.

The case that led to the ICSID decision stems from a 2007 decree issued by then-President Rafael Correa that boosted Ecuadorian state revenue on sales of oil produced by private companies above a certain level. Read more

Perenco sued Ecuador in 2008 and was eventually awarded $412 million in May last year. Perenco is entitled to $391 million after taking into account the compensation it was ordered to pay Ecuador for environmental damage caused in areas where it operated in Blocks 7 and 21.

President Guillermo Lasso, a former conservative banker who took office in May 2021, has promised to revive Ecuador’s economy and attract investment, especially in the oil and mining sectors. Read more

“Perenco remains hopeful that the Ecuadorian government will finally honor its international obligations, demonstrate its commitment to the rule of law and deliver on its promises to foreign investors, quickly meeting the price without further delay,” the company said in its statement. communicated.

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Reporting by Rowena Edwards and Karin Strohecker in London; Additional reporting by Alexandra Valencia in Quito; Editing by Elisa Martinuzzi, Daniel Wallis and Louise Heavens

Our standards: The Thomson Reuters Trust Principles.

Research analysts release earnings forecast for Innergex Renewable Energy Inc. for the second quarter of 2022 (TSE:INE)

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Innergex Renewable Energy Inc. (TSE:INE – Get Rating) – National Bank Financial cut its Q2 2022 earnings estimates for Innergex Renewable Energy shares in a research report delivered to clients and investors on Wednesday, July 27. National Bank Financial analyst R. Merer now expects the company to post earnings of $0.07 per share for the quarter, down from its previous forecast of $0.10. The consensus estimate of Innergex Renewable Energy’s current annual earnings is $0.44 per share. National Bank Financial also released earnings estimates for Innergex Renewable Energy’s fiscal year 2023 at $0.44 per share.

Innergex Renewable Energy (TSE:INE – Get Rating) last announced its results on Tuesday, May 10. The company reported earnings per share C ($0.02) for the quarter, beating the consensus estimate of C ($0.04) by C$0.02. The company posted revenue of C$188.72 million for the quarter, compared to C$181.30 million expected by analysts.

Several other research analysts have also recently published reports on the INE. TD Securities upgraded shares of Innergex Renewable Energy from a “hold” rating to a “buy” rating and lowered its target price for the company from C$21.00 to C$19.00 in a report from the Thursday May 12. Raymond James set a price target of C$24.00 on Innergex Renewable Energy shares and gave the stock an “outperform” rating in a Thursday, May 12 research note. CIBC raised its price target on Innergex Renewable Energy shares from C$21.00 to C$22.00 in a Thursday, July 21 research note. CSFB raised the target price of its Innergex Renewable Energy shares from C$24.00 to C$25.00 in a Wednesday, April 20 research note. Finally, Credit Suisse Group reduced its price target on Innergex Renewable Energy shares from CA$25.00 to CA$24.00 and set an “outperform” rating for the company in a research note from the Monday July 25. Two investment analysts gave the stock a hold rating and eight gave the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$23.11.

Innergex’s renewable energy exchanges increase by 1.5%

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Shares of TSE:INE opened at C$19.24 on Monday. Innergex Renewable Energy has a 52 week low of C$15.89 and a 52 week high of C$22.03. The company’s 50-day moving average is C$17.86 and its two-hundred-day moving average is C$18.10. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt ratio of 309.01. The company has a market capitalization of C$3.93 billion and a PE ratio of -202.53.

Insider activity

In addition, director Richard Gagnon purchased 1,520 shares in a transaction that took place on Thursday, May 12. The shares were acquired at an average price of CA$16.46 per share, with a total value of CA$25,019.20. Following the purchase, the director now owns 5,170 shares of the company, valued at approximately C$85,098.20.

Innergex Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Thursday, June 30 received a dividend of $0.18 per share. The ex-dividend date was Wednesday, June 29. This represents an annualized dividend of $0.72 and a yield of 3.74%. Innergex Renewable Energy’s payout ratio is currently -757.89%.

Innergex Renewable Energy Company Profile

(Get a rating)

Innergex Renewable Energy Inc. operates as an independent renewable power producer in Canada, the United States, France and Chile. It acquires, owns, develops and operates hydroelectric power stations, wind and solar farms as well as energy storage facilities. The Company operates through three segments: hydroelectric power generation, wind power generation and solar power generation.

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History and earnings estimates of Innergex Renewable Energy (TSE:INE)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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Democrats need more Joe Manchins

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Comment

In the end, after a lot of drama, Senator Joe Manchin did the right thing. And by signing a legislative deal that will cut the deficit, reduce drug costs and invest in carbon-free home energy, he has made many progressives very happy.

What progressives need to do now is reconsider their crass attitude not only toward Mandchin, but also toward Mandchinism. Democrats would benefit from more Mandchin-like candidates running in other states.

West Virginia is not just a conservative state; it is practically the most conservative state in the country. President Joe Biden won 29.7% of the vote there in 2020, his worst performance in any state except Wyoming. If a Democrat can win in West Virginia based on a strong local brand and being more conservative than Biden, then why not in Kansas, Montana, Missouri or Indiana, where Biden got 41% of the vote? Why not Ohio or Iowa (45%), Texas (46%), Florida (48%) or North Carolina (49%)?

Democrats, of course, are trying to win in those last five states. But candidates such as Tim Ryan and Val Demings are running as mostly traditional Biden Democrats (in Ohio and Florida, respectively). That’s fine with me — I like the chair. And I love Ryan and Demings. They’re both charismatic, they run smart campaigns, and I expect them to top Biden’s local approval rating somewhat. But they will probably lose again.

It would be interesting to see more candidates in red states define themselves as “Joe Manchin Democrats,” drawing fundamental distinctions between their views and those of Biden.

Before last week, many liberals were thinking that Manchin is a crypto-Republican and anyone more conservative than Biden must be Mitt Romney’s second coming. But this is nonsense. Progressives, by their own estimation, have a truly radical view of the transformation of American society. They want to remake the American energy system. They want a European welfare state. They want a unionized economy. They want to subvert American gun culture.

They want a lot of things! And there’s nothing wrong with having big ambitions. But when your ambitions are huge, that means there’s plenty of opportunity for people to have smaller ambitions without being doctrinaire conservatives.

And that’s Joe Manchin. He acknowledges the science of climate change and believes the wealthy should pay their fair share of taxes. But he doesn’t really buy into the idea that there should be a radical transformation of American society. It’s a perfectly reasonable worldview, and the presence of members of Congress who favor some changes helps those who favor many changes.

The biggest problem with Manchin is that there is only one. So Democrats have no margin for error on anything.

An equally conservative senator from Kansas wouldn’t have Manchin’s connection to the coal industry and would likely be more enthusiastic about wind power. A Florida Manchin would likely be more forceful in his defense of abortion rights. A North Carolinian Manchin would be a more zealous anti-racist.

The point here should be obvious: A senator who agrees with progressives on a few things is far better than a senator who disagrees with them on nothing. But that wisdom was lost to the wind. Democrats running in red states happily distance themselves from “the squad” and blatantly toxic ideas like defunding the police. But the red states are places that by definition rejected not only Elizabeth Warren and Bernie Sanders but also Joe Biden. To get the votes of people who have backed Donald Trump twice, Democratic candidates have to agree with Trump on certain things.

This is anathema to most progressive intellectuals and activists, of course. Many of them view Biden himself as a painfully moderate alternative to their favorite politicians.

But that’s why the left should pay more attention to the genuinely enthusiastic reaction from its side to the announcement of the Inflation Reduction Act. This bill is tiny compared to the grandiose ambitions of progressives. At the same time, it’s a huge improvement over the status quo. Achieving it would count as a victory rationally and feel for it emotionally.

And it’s Manchin’s presence that makes it all possible. His presence in the caucus should be celebrated rather than tolerated, and recruiting efforts in tough races should deliberately focus on building a team of manchinist candidates who put a clear distance between them and mainstream Democrats while adhering to certain progressive positions.

That would mean returning to something more like the pre-2014 era, when the Democratic caucus had separate conservative and progressive wings, with most members somewhere in between. More recently, the progressive bloc has grown and the conservative wing has shrunk.

It gave progressive egos a boost. But as last week showed, at the end of the day, even diehard ideologues would rather get things done than do nothing. And that means more Manchins – and more Manchinism.

More from Bloomberg Opinion:

• Manchin U-turn gives cleantech a boost: Liam Denning

• Surprise Manchin-Schumer deal would be a huge win: publishers

• Democrats should blame themselves, not Manchin: Ramesh Ponnuru

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Matthew Yglesias is a columnist for Bloomberg Opinion. Co-founder and former columnist of Vox, he writes the Slow Boring blog and newsletter. He is the author, most recently, of “One Billion Americans”.

More stories like this are available at bloomberg.com/opinion

Europe advocates energy conservation amid gas shortage

(MENAFN) Following the economic sanctions imposed on Moscow following the conflict between Russia and Ukraine, the European Union (EU) puts energy efficiency at the forefront of efforts to reduce gas demand.

The move was made in response to energy giant Gazprom announcing on Monday that it would cut gas flow through Nord Stream 1, one of the main pipelines for bringing Russian gas to Russia. Europe.

The restricted gas flow on the pipeline, essential for transiting Russian gas to Europe via Germany, was caused, the company says, by the maintenance of a major Siemens turbine engine at the Portovaya compressor station .

The company announced that due to turbine problems, exports through the pipeline which carries 167 million cubic meters of gas per day will be reduced from the range of 40% to 20% the previous week.

MENAFN31072022000045014146ID1104621019


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In Fredericksburg, Quarles Sells Fuel Service Assets to Arko | State and Area News

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BY SCOTT SHENK THE FREE LANCE–STAR

Quarles Petroleum of Fredericksburg has sold most of its assets to one of the nation’s largest convenience stores and fuel wholesalers.

Arko Corp., a Fortune 500 convenience store holding company based in Henrico, purchased Quarles’ assets for $170 million, according to an ARKO statement.

Quarles was founded by Douglas Quarles Sr. and his son, Douglas Quarles Jr., in Fredericksburg as a one-truck company in 1940. The company has become a supplier to more than 80,000 residential, fleet customers and commercial fuel in Virginia, North Carolina, Maryland, Pennsylvania and Washington.

The ARKO acquisition follows another sale of Quarles assets in June. According to Convenience Store News, Quarles has sold its propane and refined products distribution business to Superior Plus Energy Services.

ARKO takes over Quarles fuel card program, plus unstaffed sites in Virginia, North Carolina, Maryland, Pennsylvania and Washington, D.C.

People also read…

According to ARKO, the company has acquired “121 exclusive Quarles-branded card lock sites, management of 64 third-party card lock sites for fleet fueling operations, 46 independent dealer locations, including select dealer sites tenants, and a small transport fleet.

ARKO plans to retain approximately 100 employees from Quarles.

ARKO was founded in 2003 with 169 stores and has since grown to nearly 1,400 stores and over 1,600 wholesale locations in 33 states. ARKO, which joined the Fortune 500 list in May, has made 21 acquisitions since 2013 as part of its aggressive growth strategy, the company said in a press release.

ARKO President and CEO Arie Kotler said the company plans to continue to pursue acquisitions like Quarles.

SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of VAALCO Energy, Inc. (NYSE: EGY) … | New

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PHILADELPHIA, July 30. 10, 2022 (GLOBE NEWSWIRE) — Investor protection law firm Kaskela Law LLC is investigating possible legal claims on behalf of investors in VAALCO Energy, Inc. (NYSE:EGY) (“VAALCO”) regarding the transaction recently announced by the Company with TransGlobe Energy Corporation (“TransGlobe”).

On July 14, 2022, VAALCO announced that it had entered into an agreement to acquire TransGlobe in an all-stock transaction. In connection with the proposed transaction, CareMax has indicated that it plans to issue 49.3 million Class A common stock of CareMax to shareholders of TransGlobe who, therefore, are expected to hold more than 45% of the combined company. Following the announcement of this transaction, VAALCO shares fell $1.03 per share, or more than 16.5% in value.

The investigation aims to determine whether members of VAALCO’s board of directors violated securities laws or breached their fiduciary duties in connection with the proposed transaction, and whether the company properly disclosed all conflicts of potential interests to its shareholders.

VAALCOsshareholders wishing to protect their investment are invited to contactKaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (888) 715 – 1740, or by email ([email protected]/[email protected]) or online athttps://kaskelalaw.com/cases/vaalco/to receive additional information about this investigation and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and M&A litigation, and has helped recover over $100 million on behalf of victimized investors. For more information about Kaskela Law LLC, please visit www.kaskelalaw.com.

CONTACT:

D.Seamus Kaskela, Esq.

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Adrienne Bell, Esq.

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Copyright 2022 GlobeNewswire, Inc.

Russia-Ukraine live updates: Zelensky says Ukraine is ready to ship grain

Credit…Hiroko Masuike/The New York Times

Exxon Mobil and Chevron, the two largest energy companies in the United States, said on Friday that profits hit record highs in the second quarter as they continued to reap the benefits of soaring oil and gas prices.

Exxon reported revenue of $17.9 billion for the three months through June, more than three times what it earned in the same quarter a year ago. The energy giant’s revenue jumped to $115.6 billion from $67.7 billion a year ago. Chevron’s performance was similar, with profit more than tripling to $11.6 billion as sales hit $65 billion from $36 billion a year ago.

After oil prices nearly doubled from a year ago, earnings were expected, but Exxon and Chevron still beat analysts’ earnings forecasts in the quarter. The results mean that five of the biggest Western oil companies – including Britain’s BP and Shell, as well as France’s TotalEnergies – are expected to have generated some $60 billion in profits in the second quarter.

Shell and Total also reported bumper earnings on Thursday, and analysts expect similarly strong results from BP next week.

With oil and gas prices as high as they are, the earnings results could increase political pressure on oil companies to do more to increase production and cut costs for consumers. They have already faced heavy criticism from political leaders, including President Biden, over windfall profits at a time when consumer prices in the United States are rising.

On Friday, the companies said they would increase production somewhat, but they also announced a sharp increase in share buyback programs that reward shareholders.

The surge in profits followed a surge in crude oil, natural gas and gasoline prices this year, stemming primarily from Russia’s invasion of Ukraine and efforts to punish Moscow by cutting its sales of oil to the rest of the world. A global economy rebounding from the coronavirus pandemic and oil producers’ reluctance to rapidly ramp up production also contributed to the price spike.

In the three months from April to June, the U.S. crude oil benchmark averaged around $109 a barrel, 64% higher than the same period a year earlier, according to data from Bloomberg. On Friday, the price of West Texas Intermediate crude was closer to $98 a barrel.

The average price of gasoline in the United States hit a record high of just over $5 a gallon on June 14, according to AAA. But the price has come down in recent weeks. On Friday, the national average was around $4.26 a gallon.

Exxon said Friday its refining profits — profits from turning crude oil into gasoline and other fuels — jumped to $5.3 billion from a loss of $865 million a year ago. At Chevron, refining profits were $3.5 billion in the second quarter, down from $839 million a year earlier.

Rising energy costs have become a major contributor to inflation around the world and have drawn heavy criticism from energy producers. In June, Mr Biden said “Exxon has made more money than God this year”, as he criticized the company for not investing enough to increase production. Britain, home of BP and Shell, has announced a special tax on the “extraordinary” profits of oil and gas companies.

“Chevron is increasing energy supply, increasing investment, and we’re engaging constructively with Congress and this administration,” Pierre R. Breber, Chevron’s chief financial officer, said Friday on a call with investors to discuss results.

On Thursday, Shell chief executive Ben van Beurden blamed high energy prices on global market conditions and government policies that had discouraged investment in oil and natural gas.

“Ultimately our role is to provide the energy the world needs,” he said.

On Friday, Exxon and Chevron noted that they were increasing production in the Permian Basin, a shale oil field in Texas and New Mexico. But companies face pressure from shareholders not to overspend on expansion, said Faisal A. Hersi, energy analyst at Edward Jones.

“After years of overspending, these companies have found a religion and are focusing on capital spending discipline,” Mr. Hersi said. “They will try to increase production at this rate of 1-3%, which is an acceptable rate for investors as long as they are able to increase cash returns.”

At the same time, however, corporations are spending billions of dollars to buy their own stock, a move designed to reward shareholders by increasing the value of a company’s stock. The five oil giants spent more than $20 billion on takeovers in the first half and are expected to spend even more in the second half.

Chevron, which spent nearly $4 billion buying back its own shares in the first half, on Friday raised the upper limit of its full-year repurchase target to $15 billion from $10 billion. . Exxon, which spent $6 billion on buyouts in the first half, said on Friday it was “on track” with a plan for $30 billion in buyouts in 2022 and 2023, a goal it tripled there a few months old.

Shell said Thursday it would repurchase $6 billion of shares in the third quarter, and Total’s plan for $2 billion in third-quarter buybacks was seen as too conservative by comparison, so shares of the company did not rise as much as those of its competitors this week.

Although it’s common practice in the corporate world, spending money on buyouts, instead of investing those funds in expanding or hiring more workers, has also drawn ire. politicians, with Sen. Elizabeth Warren of Massachusetts calling them “manipulative” and her fellow Democrats proposing a tax on the practice.

“It’s a practice that can seem unseemly, and companies don’t always have the best track record of buyouts,” said Steve Sosnick, chief strategist at Interactive Brokers. “Like all other types of investors, they may be inclined to buy high and not buy low.”

Investors have been watching corporate earnings closely this quarter as fears grow over a possible recession and its effect on economic conditions. Expectations of a slowing global economy in the second half sent energy prices plummeting in the weeks following the end of the second quarter, making it unlikely that the oil company’s profits would maintain that pace.

“I wouldn’t tell you that we’re seeing something that would say we’re in recession or close to recession,” Exxon chief executive Darren Woods said on a conference call with investors. “But I would also say it’s a complex picture, frankly.”

But, for now, stock market investors are enjoying the earnings windfall. The energy sector is one of only two groups out of 11 in the S&P 500 index to post gains in 2022, returning 41.7%. The other group is utilities, which gained 3.5%.

The broader S&P 500 is down almost 14% in comparison.

On Friday, Exxon’s share price climbed 4.6% and Chevron’s 8.8%, a gain that made it one of the best performers in the S&P 500.

Third Quarter 2022 EPS Estimates for Helix Energy Solutions Group, Inc. Raised by Analyst (NYSE:HLX)

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Helix Energy Solutions Group, Inc. (NYSE: HLX – Get a rating) – Capital One Financial analysts raised their third-quarter 2022 earnings per share estimates for Helix Energy Solutions Group in a research report released Tuesday, July 26. Capital One Financial analyst L. Lemoine now expects the oil and gas company to earn $0.12 per share for the quarter, up from his previous forecast of ($0.11) . Capital One Financial has an “outperform” rating and a price target of $6.00 on the stock. The consensus estimate for Helix Energy Solutions Group’s current annual earnings is ($0.56) per share. Capital One Financial also released estimates for Helix Energy Solutions Group Q4 2022 earnings at ($0.02) EPS, full year 2022 earnings at ($0.35) EPS, Q1 2023 earnings at 0, $0.01 EPS, Q2 2023 profit at $0.10 EPS, Q3 2023 profit at $0.10 EPS, Q4 2023 profit at $0.02 EPS and FY2023 profit at $0.23 EPS.

Helix Energy Solutions Group (NYSE: HLX – Get a rating) last released its quarterly results on Monday, July 25. The oil and gas company reported ($0.14) EPS for the quarter, beating analyst consensus estimates of ($0.16) by $0.02. Helix Energy Solutions Group posted a negative return on equity of 7.13% and a negative net margin of 17.62%. In the same quarter of the previous year, the company achieved EPS of ($0.09).

A d Investment trends

707% growth for American Lithium Company after its fightback against China

The United States is waging an economic war with China over lithium. So far, we were losers (China controlling 80% of lithium production). But this small lithium company could change that with its significant stakes in the hottest region of the United States for lithium discoveries.

Several other brokerages have also recently released reports on HLX. Cowen raised his price target on Helix Energy Solutions Group from $6.50 to $7.50 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI upgraded Helix Energy Solutions Group from an “in-line” rating to an “outperforming” rating and raised its price target for the company from $6.00 to $8.00 in a research note on Wednesday. StockNews.com upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a Friday, June 17 research note. Cowen raised his price target on Helix Energy Solutions Group from $6.50 to $7.50 in a research note on Wednesday. Finally, Piper Sandler raised its price target on Helix Energy Solutions Group from $6.30 to $7.25 and gave the company an “overweight” rating in a Monday, April 18 report. One investment analyst gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Helix Energy Solutions Group shares up 6.9%

Shares of NYSE HLX opened at $3.86 on Friday. The stock has a market capitalization of $585.37 million, a P/E ratio of -4.95 and a beta of 2.91. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt ratio of 0.16. Helix Energy Solutions Group has a 12-month low of $2.47 and a 12-month high of $5.78. The company’s 50-day simple moving average is $3.59 and its 200-day simple moving average is $4.07.

Institutional negotiation of the Helix Energy Solutions group

A number of hedge funds and other institutional investors have recently changed their positions in HLX. Pinebridge Investments LP acquired a new stake in shares of Helix Energy Solutions Group during the fourth quarter at a value of approximately $31,000. Captrust Financial Advisors increased its position in Helix Energy Solutions Group by 91.4% in Q1. Captrust Financial Advisors now owns 6,907 shares of the oil and gas company valued at $33,000 after acquiring 3,298 additional shares during the period. KBC Group NV acquired a new position in Helix Energy Solutions Group in the 2nd quarter worth approximately $37,000. Allspring Global Investments Holdings LLC acquired a new position in Helix Energy Solutions Group in Q4, valued at approximately $42,000. Finally, Commonwealth Equity Services LLC increased its position in Helix Energy Solutions Group by 54.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 17,669 shares of the oil and gas company valued at $55,000 after acquiring an additional 6,215 shares during the period. Institutional investors and hedge funds hold 86.81% of the company’s shares.

Helix Energy Solutions Group Company Profile

(Get a rating)

Helix Energy Solutions Group, Inc, an offshore energy services company, provides specialized services to the offshore energy industry primarily in Brazil, Gulf of Mexico, North Sea, Asia-Pacific and West Africa regions . The Company operates through three segments: Well Intervention, Robotics and Production Facilities.

See also

Earnings history and estimates for Helix Energy Solutions Group (NYSE:HLX)

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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Enerplus to sell certain Canadian assets in Alberta to Journey Energy for US$109 million

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(RTTNews) – Enerplus Corp. (ERF, ERF.TO) said it has agreed to sell certain Canadian assets located in Alberta to Journey Energy Inc. for total consideration of C$140 million or US$109 million, before closing adjustments.

Under the terms of the agreement, the total consideration includes cash of C$81 million, 3.0 million common shares of Journey valued at C$14 million based on its volume-weighted average trading price five trading days, and a monthly amortization of C$45 million, interest-bearing loan that Enerplus will provide to Journey which is secured by certain of the assets and which is to be repaid in full by October 31, 2024.

Assets include the company’s Ante Creek and Medicine Hat operations as well as its extensive interests in the West Five and West Six regions of Alberta.

Enerplus noted that it continues to favor opportunities to divest its remaining Canadian assets in Alberta and Saskatchewan.

Enerplus said it plans to use the proceeds of the transaction to reduce debt and improve its return of capital to shareholders.

The transaction is expected to close at the end of the third quarter of 2022, subject to customary closing conditions.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

First hydrogen storage system for NT

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Charles Darwin University (CDU) will develop a pilot hydrogen generator, storage and fuel cell system located in Darwin, the first of its kind in the Northern Territory.

UDC Energy and Resources Institute (ERI) will operate the Hydrogen Energy Storage System (ESS) for industrial partners, students and researchers to further develop and commercialize hydrogen as an energy source.

ERI Director Professor Suresh Thennadil said a green hydrogen future for the Northern Territory would require extensive research and assessment as well as the ability to train a workforce with the right skills. required to sustain a hydrogen industry.

“There is still a lot of work to be done for the Northern Territory to become a hydrogen producer for a global energy market that is investing heavily in alternative fuels,” Dr Thennadil said.

“ERI, with its REMHART Grid Systems Center, is uniquely placed to help drive this renewable energy industry in the Northern Territory by bringing together dedicated researchers and industrialists to address the challenges.”

Dr Thennadil said Federal Government funding is enabling ERI to develop a world-class grid-testing facility that fosters CDU-industry collaborations in the Northern Territory through applied research projects and of training programs.

Dr Thennadil said the hydrogen electrolyzer and fuel cell system would expand our capabilities in renewable energy systems.

Hybrid Systems is supplying the electrolyser, hydrogen storage and fuel cell system which will be housed at the Renewable Energy Grid Test Facility at East Arm Wharf, Darwin.

Hybrid Systems Executive Director Mike Hall said the system would create hydrogen from fresh water and store the fuel at the test facility.

“We are excited to work with CDU to adapt our proven and reliable ESS product to researchers to test the ability to create renewable hydrogen and to integrate electrolysers and fuel cells into the grid,” said Mr. Lobby.

Hybrid Systems Australia is headquartered in Western Australia and provides on- and off-grid renewable energy services.

The Northern Territory Government announced in 2021 that it would invest in and support a renewable hydrogen industry in the territory.

The Northern Territory Renewable Hydrogen Strategy said the government’s vision is to make the territory a center for research, production and downstream manufacturing of renewable hydrogen technology internationally.

Here’s what you can expect at the 2022 Salt Lake Homes Parade

Estimated reading time: 3-4 minutes

No other place in the world is as important as your home. As a personal castle, every detail communicates who you are and reflects the things you love most.

If you’re unhappy with the current state of your humble abode, maybe it’s time for a design refresh. While you don’t necessarily have to remodel your entire home, even simple tweaks like changing paint colors or cabinet light fixtures can breathe new life into your living space.

One of the best ways to understand what you want is to visit the Salt Lake Parade of Homes where the best work of professionals, general contractors, designers and manufacturers is on full display.

The first-ever House Parade in the United States

Long before Pinterest and social media became popular, people got some of their best home ideas by visiting them in person. From the very first house show to now, participants have come away with a creative vision to build or update their dream home. To date, approximately 700 parades take place each year across the United States – and they all started right here in Utah.

Beginning in 1946, the Salt Lake Home Builders Association held the first-ever Home Parade and sparked an annual tradition that continues to inspire homeowners across the country. This year marks the 76th anniversary of the Salt Lake Parade of Homes and if you’ve never attended before, it’s time to see what it’s all about.

Here's what you can expect at the 2022 Salt Lake Homes Parade
Photo: Salt Lake House Parade

What to expect at this year’s parade

Whatever your personal tastes or preferences, this year’s Salt Lake Parade of Homes will help you experience every aspect of residential living – from small subdivisions to pristine mansions and a modern apartment.

If you’ve ever dreamed of living in a high-rise filled with five-star hotel amenities, come check out the Liberty Sky apartments downtown. With floor-to-ceiling windows, remarkable views and modern features designed for comfort, you’ll soon understand why hundreds of people call Liberty Sky home.

Even if you plan to stay in your current home for the long term, the Salt Lake Parade of Homes can give you ideas on how to update your space. Find inspiration to spruce up your decor or remodel a certain part of your home. Learn how to make your home more energy efficient with the latest appliances and technology. These updates could end up making you a lot more money if you ever decide to sell.

Here's what you can expect at the 2022 Salt Lake Homes Parade
Photo: Salt Lake House Parade

“Energy conservation features can have a significant impact on home value, especially in locations with extreme heat or cold,” said Joanne Theunissen, president of the National Association of Home Builders Remodelers. , to Beth Buczynski of NerdWallet.

Of course, if you’re looking for something fresh and new, Salt Lake Parade of Homes is the bread and butter. Whether it’s a fill-in or a new development, they have many homes, styles, and price ranges designed to meet every need. For maximum convenience, most new homes are easily accessible to people living in Salt Lake and Tooele counties.

Whether you’re looking for a townhouse, a luxury home, something downtown, or something in the valley, you’ll find it all in the Salt Lake Parade of Homes.

Buy your tickets online

Don’t miss your chance to visit some of the most impressive homes on the Wasatch Front!

The Salt Lake Parade of Homes runs from July 29 to August 13 and is open daily from 12 p.m. to 9 p.m., except Sunday and Monday. Your ticket grants entry to 18 Parade houses, including two re-entries, so you can visit your two favorite houses a second time. Your parade ticket will also allow you to virtually explore four additional houses online.

For more information and to purchase tickets, visit SaltLakeParade.com. Use discount code “KSL” to receive $3 off per ticket.

Salt Lake House Parade

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Saipem confirms targets after return to core profits

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A Saipem logo is seen on the deck of the deepwater drilling vessel Saipem 10000 in the port of Genoa, Italy, November 19, 2015. REUTERS/Alessandro Garofalo//File Photo

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MILAN, July 27 (Reuters) – Italy’s Saipem confirmed its 2022 guidance and business plan targets on Wednesday after the energy services group reported first-half adjusted core profit of 321 million euros ($325 million).

This month, investors agreed to fund just €1.4 billion of a €2 billion cash call, leaving underwriting banks to mop up the remaining new shares. Read more

However, CEO Francesco Caio sounded a more upbeat note after a big profit warning earlier this year and said the company would stick to its 2022-25 targets.

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“Based on these results, we confidently await the targets for the year and for the plan,” Caio said in a statement.

A year earlier, the group, controlled by the energy group Eni (ENI.MI) and the public lender CDP, had recorded in the first half a loss of 266 million euros in adjusted profit before interest, taxes, depreciation and amortization ( EBITDA).

It aims to reduce its net debt to around 800 million euros by the end of the year, excluding expected proceeds from the sale of its Onshore Drilling business, against 1.7 billion at the end of the first half.

The group plans to turn ships used to build offshore facilities into a separate entity to raise funds and further reduce debt, chief financial officer Paolo Calcagnini told reporters.

The company also said it did not expect a major LNG project in Mozambique to restart this year after being suspended last year for safety reasons.

Saipem shares, which have lost more than 80% of their value this year, gained 2% at 11:30 GMT.

First-half revenue jumped nearly 40% to 4.435 billion euros, helped by a positive performance in offshore engineering and construction and drilling thanks to a surge in global demand for infrastructure oil and gas.

Saipem expects to record an adjusted EBITDA of more than 500 million euros this year.

($1 = 0.9863 euros)

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Reporting by Francesca Landini, editing by Jason Neely and Keith Weir

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Five things to consider when designing and commissioning high-performance solar-plus-storage projects – pv magazine International

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Of pv magazine United States

When it comes to designing and building solar and energy storage projects, experience matters. Here are five things to consider when designing and commissioning a high-performance solar-plus-battery storage system, along with an actual case study of such a heavily loaded DC-coupled system.

  1. Model use case scenarios to maximize value

To truly optimize battery storage system (BESS) designs in solar projects, the use cases for PV and storage must be well understood and aligned with the financial model of the project. This requires a high level of project optimization and specialization, held only by the most experienced storage partners. For example, the team should be aware that storage systems can be effectively oversized in the first year, rather than scaled up, to match the degradation of PV modules and the exponential decrease in peaked solar output.

Decision dynamics vary depending on the architecture (AC versus DC coupling) and market applications. At a minimum, these hybrid systems allow projects to deliver more value to the grid by distributing electricity during peak demand periods; at best, they can improve solar performance, traverse turbulent grid conditions to keep the plant online, and enable value stacking on retail, wholesale, and merchant revenue targets.

  1. Plan early and often for energy storage security

Safety is the number one priority for solar plus storage systems, and planning should begin well before installation. Owners should consider security from the early stages of the project, including the development phase, and seek help from experts who can talk about product bankability, technical viability, risk mitigation and the many security aspects of their project. Before considering the use of any storage product, a thorough security due diligence process covering every component of the system should take place. This diligence ensures that an asset will reach its expected life while ensuring compliance with applicable codes and standards and local authorities having jurisdiction (AHJ).

A risk assessment methodology should focus on the causes and consequences of component-level failures and apply a single risk tolerance to assess whether protective measures provide a safe and acceptable outcome. Here is an example of an evaluation sequence used in a typical hazard analysis:

  • Determine your organization’s acceptable risk tolerance.
  • Assuming the failure occurs, determine the immediate consequence(s) of the failure.
  • Assess the probability of failure based on available safeguards.
  • Note the severity of the consequence(s).
  • Establish a level of risk based on the likelihood and severity of failure.
  • Apply current protective measures and reassess the level of risk.
  • List recommendations for bringing the risk to appropriate levels.
  • Implement the recommendations.

The product safety process should include, among others, the following critical steps:

  • Review product certifications and applied testing standards.
  • Review the manufacturer’s Failure Modes and Effects Analyzes (FMEA).
  • Review UL 1973, UL 9540A, and functional safety test results.
  • Ensure suppliers have quality systems in place for incident prevention.
  • Ensure suppliers have a sufficiently detailed emergency response plan or product-specific guidelines that assess systems for the recovery stage of the incident.

Using products without in-depth knowledge of them is inherently dangerous when it comes to designing energy storage systems. Although there are many lithium-ion technologies on the market, incorporating a deliberate recommendation process leads to the best-suited system for a given project. When the EPC has a strong knowledge base, it can do its best to manage the supply and due diligence of BESS products.

  1. Energy storage data infrastructure is complex

It is not uncommon to find professionals in the solar industry baffled by the long lead times required to properly commission energy storage systems. A common cause is the overwhelming amount of data needed to control, monitor, and secure systems appropriately. Much of this data is generated by one system, required by another to operate effectively, and stored in a third location, making data infrastructure and network planning of paramount importance. The earlier the design of the project and the more complete this planning, the more the system is likely to operate correctly until commissioning.

For large commercial, community, or large-scale projects, there are many battery modules, battery racks, cabinets, meters, and power electronics at every level. Each of these components connects to the energy management system (EMS) and data acquisition system (DAS), and any physical or software issue can cause a system warning or crash – and every system crash may cause a shutdown. Troubleshooting the DAS can be a hindrance to performance testing because the BESS subsystems are highly codependent. Networking should be worked out during the design phase. Standardizing the data infrastructure is extremely beneficial and redundancy will keep your system online.

Finally, consider the impact of data dependencies on each phase of system commissioning. For example, to perform solar capacity testing for a DC coupled system, data from the energy storage inverter will likely need to be accessed and referenced. This means that all network connections between the energy storage equipment and the DAS must be terminated prior to solar testing. EPC and energy storage vendor teams should work closely together to ensure a smooth commissioning process that minimizes downtime and delays.

  1. Monitor and control equipment conditions during construction

Batteries typically have temperature and humidity thresholds, which is why it is essential to have operating climate management systems in place not only during asset operation, but also during the pre-power-up period. between delivery and commissioning. On construction sites without auxiliary power, batteries can sit in the sun all day with internal temperatures reaching 150°F. Excessive heat and humidity will degrade the health of a battery and can lead to premature failure and future hazards. During construction, it is important to properly coordinate deliveries with temporary or permanent auxiliary power sources to maintain, control and monitor the condition of the batteries.

Conditioning and preventive maintenance are not limited to batteries. Long storage times can also cause unsuspected damage to a power conversion system. Without proper operation and heating, humidity control, and preventive maintenance, serious damage can occur to power modules, fans, control boards, capacitors, etc., creating a risk to safety during commissioning and a large bill to rectify or replace the unit.

  1. Share lessons learned from the field and asset operations

It may seem obvious, but field operators, project managers, commissioning engineers, and asset management professionals need to proactively share lessons learned for optimal success. Learning from team members on different projects across portfolios is one of the best ways to work around potential issues. In other cases, shared experiences can apply regionally, across similar use cases, and in particular on the design and implementation of a given product.

For example, slight changes made to a product from one generation to the next, such as a change in duct entry points, may not be updated in the supplier’s drawings at an early stage. By sharing this information before subsequent deliveries, site supervisors on other projects can make changes in the field and avoid delays. Other on-the-job learnings include rigging setup, pre-powering and commissioning the DAS, and using the pre-commissioning checklists.

Case Study: Ground Fault Detection of a DC Coupled System

One of the unique challenges of deploying heavily loaded DC-coupled power plants is designing appropriate and effective ground fault detection systems. In DC-coupled systems, the solar and energy storage systems aggregate on the inverter’s DC power bus. Due to the increase in the number of PV circuits (due to the high charging rate of the inverter) and energy storage system circuits combined in parallel, the inherent insulation resistance of the plant is lower , making a single sensing device more likely to trigger on changes in environmental conditions.

On a portfolio of multi-site solar and storage projects in the Northeastern United States, this ground fault detection issue was resolved through extensive collaboration with partners and a thorough redesign of the insulation monitor . A new system was deployed that could handle the unique conditions presented at each site without compromising safety or operational proficiency.

Early and Persistent Planning

A thorough due diligence process creates value and mitigates risk for the customer and gives confidence to system suppliers, leading to more efficient design, construction, commissioning and operations. Early and persistent planning is key to maximizing the full scope of value engineering opportunities on solar and energy storage projects.

Kyle Cerniglia is Borrego’s Director of Engineering for Energy Storage. He is responsible for energy storage technology, engineering and product integration for the Anza business.

This content is copyrighted and may not be reused. If you wish to cooperate with us and wish to reuse some of our content, please contact: [email protected]

SSE Renewables begins laying foundations for Dogger Bank Offshore Wind Farm

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Work has started on the installation of 277 of the world’s largest offshore wind turbine foundations in the North Sea, in another major milestone for the 3.6GW Dogger Bank Wind Farm, which is under construction. development 80 miles off the Yorkshire coast.

The renewable energy project, which will be able to power 6 million UK homes a year when completed, is a joint venture between SSE Renewables (40%), Equinor (40%) and Eni Plénitude (20%). SSE Renewables is the prime operator for the development and construction of the Dogger Bank Wind Farm, while Equinor will be the prime operator of the wind farm when completed for its expected life of approximately 35 years.

The campaign to install the turbine foundations on what will be the largest offshore wind farm in the world has started in recent days, with the installation of the first monopile and the transition piece on Dogger Bank A. The installation campaign is led by Seaway 7 supported by DEME.

The foundations for the turbines at the Dogger Bank Wind Farm feature a unique two-tiered transition piece, as well as an eight-metre flange – or protruding flat flange – to support the turbine towers.

Installation of GE Renewable Energy’s Haliade-X turbines on each of the installed turbine foundations will begin from spring 2023.

Steel made by Tata Steel in Wales and processed at Corby and Hartlepool is used in the transition piece support components, while South Tyneside-based Metec and Rochdale-based Granada Material Handling also won contracts with Smulders to support this project.

“These foundations have been designed for what is arguably the most demanding wave environment one can encounter on an offshore wind farm and is a testament to the many companies involved in working together to achieve this unprecedented milestone,” says Steve Wilson, Project Director of SSE Renewables. for the Dogger Bank wind farm. “In addition to the breadth of the foundations, we have incorporated a unique two-level transition piece that allows technicians to safely access directly into the turbine tower from our service and operating vessels, eliminating thousands of manual handling activities and lifting operations over the lifetime of the assets.

“The successful installation of our first monopiles and transition pieces is a huge step for offshore wind globally and will lay the foundation for the Dogger Bank wind farm to help achieve the UK’s net zero target, enabling the development of a cleaner, cheaper and safer future energy system,” continued Wilson. “It also demonstrates the continued innovation in our industry as we begin to install the increasingly larger and more powerful turbines that are needed to safely power our homes and businesses in a net zero world.”

Designed in the UK by experts at Wood Thilsted, the foundations have been optimized to cope with the difficult wave loads in the Dogger Bank area of ​​the North Sea, with installation in water depths of up to 32 meters and 130 kilometers from shore, and provide a solid and stable base for the scale of GE Renewable Energy’s revolutionary Haliade-X turbines.

“Wood Thilsted is proud to contribute to the success of the Dogger Bank Wind Farm,” said Alastair Muir Wood, CEO of Wood Thilsted. “Our team faced challenges including working with the largest turbine at the time, an innovative dynamic positioning installation vessel and very large wave loads. What made the success possible was the collaborative working relationship shared with the Dogger Bank team and other key stakeholders This project is a model of success for current and future projects.

During the three-year installation program for the three phases of the Dogger Bank wind farm, a total of 277 monopiles and transition pieces will be loaded onto installation vessels in Rotterdam before being transferred to the offshore wind farm site. deep in the North Sea. Using dynamic positioning technology, the vessels will locate the installation site in the seabed, from which a monopile measuring up to 72 meters will be knocked down and transferred to a pile clamp, before being lowered in the seabed.

A hammer will be used to drive the monopile to the design depth in the seabed before a guidance system aligns the installation of the eight meter record flanges which serve as a connection for the transition piece which is then installed on the monopile . The foundations require 152 giant M80 bolts to secure them before a cover is inserted over the top of the transition piece to leave it watertight.

Seaway 7 has been awarded the Tier 1 contract to install the foundations on all three phases of the Dogger Bank wind farm, with sub-contractor DEME deploying its Innovation vessel for the installation of the first foundations on Dogger Bank A. Following DEME Innovation, the Seaway Strashnov deploy on the Dogger Bank A to continue the installation of the foundations.

“The successful installation of the first Dogger Bank Foundation marks the start of a multi-year installation campaign for Seaway 7,” adds Wouter van Dalen, project manager for Seaway 7. “In good collaboration with our customer Dogger Bank Wind Farm and our partners and suppliers, this complex project has been prepared for installation with a number of different heavy lift vessels, starting with the DEME Innovation. Seaway 7 is proud to be part of the team building the Dogger Bank project and looks forward to safely installing the remaining 276 foundations.

“We are extremely proud to support the construction of the largest offshore wind farm in the world with the installation of the foundations and later in the program as an installer of the inter-grid cables”, comments Lucien Romagnoli, director of the business unit renewable energies at DEME Offshore. “These unique foundations are huge but also, they are technically complex. This is an important moment for offshore wind and the energy transition. It is wonderful to work alongside like-minded partners with the common goal of achieving a net zero energy system.

In November 2020, the Sif and Smulders consortium won the contract to manufacture all 190 monopiles and transition pieces for the Dogger Bank A and B phases of the wind farm, with a contract for all 87 monopiles and transition pieces remainder of Dogger Bank C awarded to consortium in 2021.

How the former footballer’s energy gamble ended up costing billpayers £700m | Energy industry

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AAs Avro Energy customers forked out their gas and electricity direct debits, they had no idea they were just postponing the death of a mismanaged company whose collapse would end up costing $700 million. pounds sterling to bill payers.

Despite having no apparent experience in the complex energy sector, Avro founder Jake Brown, a former non-league footballer, started the company with a family loan in 2016. As the company entered the market, Avro had amassed half a million customers while enriching Brown and his family along the way.

Between 2019 and 2020, these customers – who paid for their energy upfront – funded £4.25 million in “management fees” funneled to Sentido Marketing, owned and controlled by Brown, now 28. years, and his father, Philip, 58, the other company. director.

Over the same period, Avro, based in Hinckley in Leicestershire, loaned £700,000 to its owner-directors, the same father-son team. He also loaned a further £830,000 to Berkeley Swiss Ltd, a property development company whose directors and majority owners should by now be obvious: Jake and Philip Brown.

In September 2021, after racking up losses of £55m over seven years, Avro collapsed into administration, owing £90m to its 580,000 customers.

Those customers — and most of their credit balances — were taken over by Octopus Energy, a healthier rival. But the cost of Avro’s failure, which will ultimately be borne by all the country’s bill payers, has been estimated by energy regulator Ofgem at £700 million.

Ofgem is expected to be largely responsible for the fiasco, according to Tuesday’s report from MPs on the Business and Energy Select Committee.

A phalanx of companies flooded the market nearly a decade ago, responding to a deregulatory drive by the regulator to keep prices low by promoting competition for the big six suppliers such as British Gas, SSE and EDF Energy.

One of the new challengers was Avro, which Brown started shortly after completing an undergraduate law degree.

Aged just 22, neither he nor his father had ever done anything close to running a major energy supplier. Yet this did not prove to be a barrier to entry.

When asked at a select committee hearing last year if he had passed any test to show he was a “fit and proper” person to take on such responsibility, Jake Brown said reflexive. “I don’t think so…unless Ofgem did a background story on me. I don’t remember filling out anything specifically,” he said.

Brown apologized during the committee session for his role in what the report and industry sources said was a litany of failures.

Account books were not kept, as – according to a person familiar with the matter – the company had thousands of customers it did not know existed and from whom it received no money. Meanwhile, administrators “constantly enriched themselves” through unwarranted loans and salaries, funded by prepayments from clients.

Of the loans taken out by administrators, according to the MPs’ report, it was “unclear” how much was repaid before Avro entered administration. Accounts filed at Companies House show £381,000 was outstanding as of June 2020.

Like many of the 29 suppliers that have failed so far, Avro has not implemented a hedging strategy to hedge against the high gas prices that have set in over the past year. He was “negligent” in risk management, according to the report.

In the end, the bill payers had to “bear the cost of their failure”.

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MPs said they were ‘disappointed’ by an admission by former Ofgem chief executive Dermot Nolan that the regulator had been unaware of events at Avro, despite Citizens Advice raising concerns about 10 times the company to the regulator.

The committee urged the government to consider giving the “negligent” regulator greater powers to prosecute misconduct by directors of energy companies. He also called on Avro’s directors to ask the insolvency department to consider taking action against the former directors and provide an update on what steps could be taken to recover customers’ money.

Requests for comment sent to Avro’s email addresses for Jake Brown and Justine Brown, his mother and former Avro human resources manager, were not returned.

Austin Energy changes original proposal at base rate review conference, but critics say it’s not enough

Tuesday July 26th, 2022 by Kali Bramble

As the grid works overtime to absorb record heatthe battle over energy prices continues.

Austin Energy met face to face with stakeholders earlier this month with its proposal to raise and restructure rates, citing widening revenue gaps threatening utility finances. The three-day hearing consisted of hours of cross-examination, with interest groups challenging the case from multiple angles.

“Austin Energy has lost $90 million over the past two years…and just two weeks ago Fitch’s credit rating downgraded Austin Energy from AA to AA minus,” the lawyer said. Thomas Brocato. “Despite customer growth, revenue growth is hampered by outdated rate designs that rely too heavily on energy sales, particularly in the residential category. Accordingly, Austin Energy proposes to approximate these classes to the cost of service. »

Hoping to appease backlash, Austin Energy led the conference by announcing a proposed new revenue requirement of $35.7 million, a decrease of 25% from its original figure of $48.2 million. Still, industrial and residential consumer groups have argued that the drastic increase in utility base loads poses undue risks to Austin’s economy.

Texas Industrial Energy Consumers, NXP Semiconductors, Data Foundry, Sierra Club, Solar United Neighbors and an independent consumer advocacy group quibbled over details but agreed Austin Energy had inflated revenue gaps, ignoring the total impact of winter storm Uri in its test year. From there, opinions are divided, with different approaches both to calculating revenue requirements and to allocating costs between residential and industrial customers.

The utility’s proposal to increase its flat monthly fee from $10 to $25 is particularly controversial, a change that residential consumer advocates say would disproportionately impact low-income users and those with the least energy consumption. ‘energy.

“We see the impact here, especially on the smaller users, is dramatic…so much so that I’m not sure the information Austin Energy provided to the public fully prepared them,” the independent advocate said. consumers John Coffman. “The residential class impact as proposed would be 17.6%, not 7% ​​system-wide…that’s a rate shock.”

Adding fuel to the fire was an argument that emerged between the independent consumer advocacy team and attorneys from Texas Industrial Energy Consumers, a coalition that represents the state’s largest commercial energy users. Experts from both sides argued competing approaches at cost allocationwith industry advocates pushing a peak demand-based method during the summer months, and residential advocates pushing an intermediate base-to-peak method following usage patterns throughout the year.

Of course, under this quarrel of methodology was hidden a battle between classes of consumers and who should pay the price. Both methodologies differ from the 12-month coincident peak method used in Austin Energy’s original proposal.

Another battle has coalesced around efficiency, with the Independent Consumer Advocacy Team and the Sierra Club noting that Austin Energy’s current flattening 5 Tier Pricing Structure into three tiers would undermine efforts to encourage energy conservation. Along with recouping revenue primarily through a fixed monthly fee, stakeholders are concerned that the financial incentives to cut are virtually imperceptible.

Austin Energy’s proposed restructuring of the value of the solar tariff, which provides discounts customers equipped with solar panels. More complex and prone to volatility, some fear the new formula will deter further investment in renewables and betray customers already committed to the program. In light of broken promises to shut down the Fayette plant by the end of 2022, environmental advocates have raised suspicions about Austin Energy’s commitment to meeting the demands of the Resource, Production and Climate Protection Plan 2030.

“I think there is no doubt that Austin Energy is truly a leader in environmental activism, bold progressive policy and excellence in efficiency, distributed generation and solar power,” said said Cyrus Reed, director of conservation for the Sierra Club. “But curiously, in this case, Austin Energy is stepping back from that leadership role…by proposing an outrageous increase in fees charged to customers…that violates affordability policies…sends the message that dollars are more important than the environment…and abandoning the existing solar program…which is one of Austin Energy’s crown jewels.

Participants in the base rate review process will give closing briefs this Thursday, while Austin Energy will have the opportunity to present its final case on Tuesday, August 9. From there, the hearing’s independent reviewer will take a month to review the evidence, returning with recommendations to City Council on September 9, which will prepare to discuss the case in November.

Those interested in following the proceedings can find more information here.

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Genie Energy will make its second report

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NEWARK, New Jersey, July 25, 2022 /PRNewswire/ — Genie Energy Ltd., (NYSE: GNE, GNEPRA), a global energy services provider, will announce its financial and operating results for the second quarter of 2022 on monday august 82022.

Genie Energy will issue a press release on a wire service and post it to the “Investors” section of Genie Energy’s website (https://genie.com/investors/quarterly-earnings/) at 7:30 a.m. East. The release will also be filed in a current report (Form 8-K) with the SEC.

To 8:30 am Eastern, Genie Energy management will host a conference call to discuss financial and operating results, business outlook and strategy. The call will begin with management’s remarks followed by a question-and-answer session with investors.

To participate in the conference call, dial 1-888-506-0062 (US toll-free) or 1-973-528-0011 (international) and provide the following participant access code: 955827.

Approximately three hours after the call, a replay of the call will be available by dialing 1-877-481-4010 (toll-free from the United States) or 1-919-882-2331 (international) and providing the replay password: 46224. The replay will remain available via August 222022. A recording of the call will also be available for playback on the “Investorssection of the Genie Energy website.

In this press release, all statements that do not relate solely to historical facts, including, but not limited to, those in which we use the words “believe”, “anticipate”, “expect”, “plan”, “intend”, “estimate”, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although these forward-looking statements represent our current judgment of what may occur in the future, actual results may differ materially from the results expressed or implied by such statements due to many important factors, including, but not limited to, those described in our most recent report on the SEC 10-K Form (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports s on SEC Forms 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update any forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

About Genie Energy Ltd. :
Genie Energy Ltd. (NYSE: GNE, GNEPRA), is a global provider of energy services. The Genie Retail Energy division provides electricity and natural gas to residential and small business customers in United States. The Genie Retail Energy International division supplies customers in Scandinavia. The Genie Renewables division includes Diversegy, a commercial and industrial brokerage and advisory services company, and Genie Solar Energy and Prism Solar, which design, supply and install commercial solar solutions. For more information, visit Genie.com.

favicon.png?sn=NY26510&sd=2022-07-25 Show original content to download multimedia:https://www.prnewswire.com/news-releases/genie-energy-to-report-second-quarter-2022-results-301592761.html

SOURCE Genie Energy Ltd.

Cypress Creek Renewables acquires 400 MW from Black Mountain Energy Storage

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SANTA MONICA, Calif., July 25, 2022 /PRNewswire/ — Cypress Creek Renewables has added 400MW/600MWh to its storage portfolio after acquiring four Texas Black Mountain Energy Storage (BMES) stand-alone energy storage projects. The projects, each 100 MW, are located across the Electric Reliability Board of Texas (ERCOT) and are currently under development.

Cypress Creek will continue project development, rights, engineering, procurement, financing, construction and will operate the 400 MW/600 MWh portfolio upon completion. All four projects are expected to be commissioned in 2024.

Nationally, Cypress Creek has developed over 11 GW of solar power to date and has a 15 GW solar and storage pipeline. In the ERCOT market, Cypress Creek has developed 5 GW of solar and storage assets, bringing resilience and flexibility to the grid.

“ERCOT is an incredibly dynamic energy market, and stand-alone storage assets will continue to provide opportunities to increase grid reliability through flexible and dispatchable resources,” said Jack Murray, director of mergers and acquisitions at Cypress Creek. “Black Mountain has been an exceptional partner to work with and we are excited to put our development, EPC and financing expertise behind these assets to get them over the finish line, affirming our commitment to developing resources resilient renewable energy sources throughout Texas.”

“It was a pleasure to work with the team at Cypress Creek, and we are thrilled to have helped them on their journey to becoming one of the premier renewable energy developers in the United States,” said Rhett Bennett, CEO of BMES. “Cypress not only understands the electricity market, but also the critical importance of energy storage. They are committed to renewable energy, and we are excited about the potential of these projects and the immense positive impact they will bring to the grid.

The transaction was facilitated by the LevelTen Energy Asset Marketplace, connecting renewable energy projects and buyers to the execution of the transaction.

“It was an honor to support this transaction through LevelTen Asset Marketplace, which brings together project developers and investors, and provides the online tools they need to complete asset sales,” said Patrick Worral, Vice President of Asset Marketplace, LevelTen Energy. “Black Mountain Energy Storage and Cypress Creek Renewables are industry leaders, and we look forward to following the progress of the development of this portfolio of storage projects.

About Cypress Creek Renewables

Cypress Creek Renewables is a leading renewable energy developer and independent power producer. It develops, finances, owns and operates large-scale and distributed solar and energy storage projects across United States with a mission to power a sustainable future, one project at a time. Since its inception, Cypress Creek has developed over 11 GW of solar projects. Today it has 2 GW of solar power and has a 15 GW pipeline. Cypress Creek’s leading O&M services company operates and maintains 4 GW of solar projects for customers in 19 states. For more information on Cypress Creek, please visit www.ccrenew.com.

About Black Mountain Energy Storage

Black Mountain Energy Storage is a team of energy experts that develops and operates battery energy storage facilities. Founded in 2021, BMES was created to bring reliable, emission-free energy storage capacity to the power grid to improve system reliability and enable greater reliance on renewable energy generation. It focuses on investing in communities and markets where energy storage will deliver long-term value to stakeholders.

www.bmenergystorage.com

SOURCE Cypress Creek Renewables

Atlassian co-founder Scott Farquhar and his wife, Kim Jackson, decide to acquire energy company Genex Power

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But Genex Power – which has long been a darling of renewable energy advocates and has received strong taxpayer support – has endured painstaking capital raising to develop the projects and the consortium believes taking the company private would allow it to accelerate its growth.

“We have been a supportive shareholder of Genex and believe that long-term private capital can help the company reach its full potential. We see strong promise in the Genex portfolio and together the Skip Essential Infrastructure Fund and Stonepeak bring the experience and knowledge to enable Genex to play a much bigger role in Australia’s energy transition,” Ms. Jackson said.

Genex owns the operating 50MW Kidston Solar Project in Queensland, is building (and has financed) a 250MW pumped storage hydro project of the same name, and is developing a 150MW wind farm, among a handful of other projects.

Importantly, for infrastructure-conscious tire-throwers, its flagship 250MW Kidston pumped hydro storage project is backed by a 10-year contract with Energy Australia, with two 10-year options to extend in favor of the retailer. of electricity.

These kinds of projects have long been coveted by potential buyers, but the election of the Labor government has thrust renewable infrastructure companies into the limelight.

Speculation about Genex was stirred last year when Japanese giant J-Power took a 10% stake, having already signed a deal to build the group’s hydropower project and helped finance a new wind project.

Genex moved quickly to appoint Goldman Sachs as advisers to bolster its defenses.

The Australian Financial Review revealed last year that the Kidston project received more public funding than its total capital cost.

This included a $610 million loan from the Northern Australian Infrastructure Facility as well as $47 million from the Australian Renewable Energy Agency.

ARENA also agreed to convert an earlier loan of $9 million into a full grant that does not need to be repaid, effectively bringing ARENA’s grant funding to $56 million.

There was also $54 million in debt financing from the Clean Energy Finance Corporation for the nearby 50 megawatt solar farm, which is attached to the pumped hydro project.

The Queensland Government – ​​which is trying to achieve a target of 50% renewable energy by 2030 – is also funding and building the 186 kilometer, $147 million transmission line connecting the Kidston project to the power grid.

It also received an off-take agreement of up to 30 years from EnergyAustralia.

Albania’s new Labor government has made accelerating renewable energy production a central part of its political agenda. It has set an ambitious target for zero-emission sources to make up more than 80% of Australia’s electricity mix by 2030, which would see the country meet its net-zero emissions target by 2050.

The issue of power generation has recently been thrust into the national spotlight amid warnings of power outages in major Australian cities. The most feasible solution involves the development of a capacity mechanism that would ensure sufficient generation capacity.

Green industry, unions must solve problems for the good of the planet

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The July 13 article “Workers Wary of Green Plan” describes the reservations expressed by union leaders about the state’s green energy proposals. Unions will naturally resist changes that threaten jobs. The opposition between work and green energy is inevitable. But it can and will be solved.

The Rodgers & Hammerstein musical “Oklahoma!” illustrated the conflicts that arose when the open rangelands of cattle herders were fenced off to become farmers’ fields, a land in transition with clashing visions. A major shift was to occur like the one our energy system is currently undergoing.

Unions and green energy don’t have to initiate this kind of opposition, as the appointment of AFL-CIO President Mario Cilento to the Climate Action Council shows.

And by signing legislation that expands wage requirements for future renewable energy projects (one megawatt and up), Governor Kathy Hochul is ensuring renewable energy jobs will support families. It has also signed the Utility Thermal Energy Network and Jobs Act, which will create employment opportunities in the replacement of energy systems.

Of course, the transition from the 22,000 jobs lost expected to the 160,000 jobs gained by the energy evolution will involve some reconversion. But Dave Wasiura, assistant to the director of United Steelworkers, underestimates his workers when he says, “You can’t just put the 55-year-old steelworker with a basic education in a classroom” and say “Good luck. ‘”

Why not? They learned to do their current jobs. I think he could show a lot more confidence; after all, as the song goes, “Territory people should stick together, Territory people should all be buddies. Cowboys dance with the farmer’s daughters, farmers dance with the rancher’s daughters.”

For the sake of the territory (the planet), we can learn new skills as we evolve.

Barbara Burge

Amenie

It’s time for Canada’s beluga whale migration and you can watch it live

Up to 55,000 belugas migrate to warmer waters, as they do every year, and you can watch them live.

The live stream is produced through a partnership between Arctic conservation group Polar Bears International and nature live streaming network explore.org. It is broadcast from the Polar Bears International research vessel, Delphi, in the Churchill River estuary, where the river empties into Hudson Bay in northeastern Canada. The goal of the Beluga Whale Live Cam livestream is to educate people about sea ice so they better understand its importance to the Arctic ecosystem.

Sea ice “is to the ocean what soil is to forest,” said Alysa McCall, director of conservation outreach and scientist at Polar Bears International, according to Live Science.

“Sea ice is critical habitat for arctic species,” McCall continued. “Walruses and seals use sea ice for refuge, seals give birth on sea ice, and beluga whales use sea ice for protection from killer whales. All arctic species in the ocean are supported by arctic sea ice, because in arctic sea ice grow algae that resemble northern plants.

Although the amount of Arctic sea ice is rapidly shrinking due to global warming, there’s also good news: Sea ice can potentially recover quickly if the climate cools, McCall said.

“When we get our carbon emissions down to a more sustainable level and start to shift more widely to greener energy, we know the sea ice will rebound,” McCall said. “The actions you are taking now to reduce carbon emissions and switch to solar power, wind power and incentivize these big companies to be more sustainable are absolutely having a positive impact on sea ice, which has a positive impact on all the animals that depend on it.”

The live broadcast began on July 15, Arctic Sea Ice Day.

The “canary of the sea”

“Beluga whales, or Delphinapterus leucas, are known for their white color and range of vocal sounds, earning them the title “canary of the sea,” according to the National Oceanic and Atmospheric Fisheries Administration (NOAA). “They are very social animals, forming groups to hunt, migrate and interact with each other.”

Considering that whales live in arctic and subarctic waters, it’s no surprise that they have a thick layer of blubber and thick skin to help them live in freezing waters.

Another interesting feature is that instead of a dorsal fin, belugas have a dorsal ridge, which allows them to swim easily under floating ice patches. Indeed, the genus name Delphinaptera translates to “finless dolphin”.

On average, belugas weigh around 3,100 pounds and reach lengths of up to 16 feet. They have a lifespan of about 90 years.

Their diet includes octopus, squid, crabs, shrimp, clams, snails, and sandworms. They also eat a variety of fish, including salmon, eulachon, cod, herring, smelt, and flatfish.

All beluga populations are protected under the Marine Mammal Protection Act (MMPA). It’s important to note that NOAA Fisheries has designated some beluga populations in Alaska and Russia as “depleted,” meaning their numbers have fallen below what’s considered optimal sustainable population levels.

The beluga livestream

The so-called “beluga cams” ​​livestream begins each year as a pod of around 55,000 beluga whales migrate to the shallow waters of Hudson Bay.

In winter, the bay is locked in ice, said Stephen Petersen, director of conservation and research at Canada’s Assiniboine Park Conservancy, according to Live Science. However, belugas visit the region in the summer when the water is warmer.

Whales may find the bay’s sheltered waters provide protection from killer whales, Petersen told Live Science. In addition, estuaries provide belugas with a large amount of food.

Additionally, scientists also believe the whales return to the warm, low-salt waters of the Churchill River estuary to give birth. That’s because these warmer waters are ideal for newborn calves that don’t have a thick layer of fat to protect them from cold water.

There are two cameras aboard Polar Bears International Beluga Beluga boat – short for Delphinaptera, of course – to offer different views of the whales. The first camera is on the deck of the ship while the second is below the surface of the water. This camera even captures the cries of whales.

You can watch live streams here.

How you can help with research

While some beluga populations are small, the population that migrates into Hudson Bay each year is healthy. One of the goals of the live beluga cam broadcast is to work to maintain the health of this population, Petersen says.

“We want to increase surveillance so that if threats emerge or if this population changes, we can see it before we get to a critical point,” Petersen continues.

To this end, Petersen leads the citizen science project Beluga Bits.

Here’s how it works: Each year, beluga cam viewers can collect screenshots of the whales they see on Delphi’s live streams in July and August. Then, throughout the year, they can help identify individual whales in zooniverse.org images.

This work is helping scientists learn more about belugas, including whether or not the whales return to the same place each year.

You can read more about Beluga Bits here and zooniverse.org here.

If you want to learn more about whale watching in person, be sure to also read:

Hawaiʻi Gas acquired | Maui Now

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Hawaiʻi Gas and its other junior energy companies will be acquired by Argo Infrastructure Partners for $514 million. Photo courtesy: 6 pillars of marketing

The state’s only franchised gas utility was purchased by Argo Infrastructure Partners, LP. The purchase of Hawaiʻi Gas followed review and approval on June 29 by the Hawaiʻi Public Utilities Commission.

Hawaiʻi Gas President Alicia Moy said she was grateful to the commission and the many parties who contributed to the approval and rigorous review.

“This decision paves the way for Hawaiʻi Gas to accelerate its renewable energy plans and continue our pioneering work with renewable natural gas and hydrogen, two clean energy sources critical to our future,” Moy said.

The acquisition of Hawaiʻi Gas, the state’s largest propane distribution company, is expected to be transparent to customers and will not affect the company’s employees, wages or labor relations. The location of the company’s headquarters, local management team and Hawaii-based board members will not change. The assets of Hawaiʻi Gas, including the Waihonu solar farm, will also be acquired by Argo.

According to Bloomberg.com, New York-based Argo operates as an investment management company. The firm invests in leveraged buyouts, family estates, management buyouts, corporate spin-offs, recapitalizations, and buy-and-build transactions.

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Argo said Hawaiʻi Gas will continue to focus on initiatives to reduce greenhouse gas emissions.

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“Argo is pleased with PUC’s decision and is excited to have Hawaiʻi Gas join its portfolio of companies and support its efforts to improve sustainability and reduce its carbon footprint,” said Richard Klapow, the company’s chief executive officer. . “Argo fully supports the company’s clean energy plan and intends to provide access to capital to execute its clean energy transformation in line with Hawaii’s climate goals, while continuing to provide energy services. safe and reliable to its customers.”

Scott Glenn, director of energy for the Hawaiʻi State Energy Office, said his office looks forward to working with Hawaiʻi Gas and its new owner, Argo Infrastructure Partners, to advance our state’s climate goals and pursue innovations to support a resilient and clean energy future.

The UK lacks a plan for affordable and reliable energy

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The writer chairs the Lords Economic Affairs Committee and is an adviser to Banco Santander

As in so many countries, the impact of the Russian invasion of Ukraine on energy prices has been a wake-up call for the UK, exposing the country’s energy security vulnerabilities. The record temperatures were a reminder, if need be, of the need to fight against climate change. Together, these events raise a question: what is the plan to provide affordable and reliable energy as we move to net zero?

Answer: there is none. This is not to say that the government is lacking in commitment: it has passed legislation aiming to achieve net zero carbon emissions by 2050 and has set itself the goal of decarbonizing the electricity system by 2035. no ambition either, having increased the role that low carbon energy, particularly nuclear energy, will play. But a six-month investigation by Lords’ Economic Affairs Committee concluded the government lacks a comprehensive net zero delivery plan that takes energy security into account, setting out what needs to be done by whom and in what deadlines. This must be a priority for the next prime minister.

Such a plan is essential to mobilize sufficient investment to achieve the government’s objectives. In 2020, £10billion was invested in low-carbon technologies, but the climate change committee advises the government that £50 billion a year is needed by 2030. Investors have a healthy appetite to close this gap. If they want to invest more, however, ministers must act now to boost confidence.

Our committee has identified several fields of action. Market models need to be created to encourage investment in low-carbon technologies such as hydrogen, carbon capture and storage, and long-term storage. The planning system in England must include energy security alongside climate change objectives. The new UK Infrastructure Bank is expected to focus on financing innovative and potentially riskier projects, signaling their viability to investors. In the meantime, more investment in the North Sea should be allowed, while ensuring that any expansion of oil and gas exploration or investment is focused on projects with short lead times and payback periods , limiting the risk of stranded assets.

Action on all of the above, and more, is needed now to provide affordable and reliable energy during the transition – it is a prerequisite for public support for the changes needed to reach net zero. However, none of this will resolve the current energy shock. There is nothing ministers can do to lower the price of energy in the short term. Yet steps could be taken now to mitigate its impact over the coming winters.

Some necessary measures – such as extending the life of coal-fired power plants due to their closure – are already underway. But policy gaps remain. Faster insulation of homes and other measures to improve energy efficiency are needed. Ways are already being sought to encourage local communities to install onshore wind farms in their region; given that they can be built relatively quickly, ministers should now reconsider their ambitions. It is crucial to know that there is an agreement with European partners on energy cooperation, because there is none to manage energy supply emergencies.

In all of this, the financial sector, including regulators, must be aligned with government policy. For example, the former chancellor has educated financial regulators to take energy security into account in what they do: these regulators must explain how they interpret this. Any green taxonomy should avoid making projects appear green or brown, which can stifle innovation and fail to reflect the transition process.

Politicians love to talk about “united government”, but rarely do. This time we have to. If we fail to ensure that UK energy is reliable, affordable and renewable, the transition to net zero will be messy – and we will all pay the price.

2 Phenomenal Energy Companies You’ve Never Heard Of

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Because there are hundreds of publicly traded energy companies, it’s easy to overlook those that aren’t well-known or don’t stand out.

Of them energy stocks who have amassed excellent track records that have largely gone unnoticed by investors are Delek logistics partners (DKL -5.05%) and Pembina pipeline (PBA -1.23%). Here’s why investors won’t want to miss what they bring to the table.

Remarkable consistency

Delek Logistics Partners is a rather small Master Limited Partnership (MLP) formed by a relatively unknown refining company in Delek US Holdings (DK -0.04%). Since it flew under the radar of most investors, they missed its impressive growth record. The MLP has increased its distribution to investors every quarter since its inception in late 2012, bringing the streak to 37 consecutive quarters.

That’s impressive, considering most MLPs have cut payouts at least once in the past decade due to all the volatility in the energy markets. Delek avoided this fate by maintaining a solid financial profile and the support of its parent company. The company ended the first quarter generating enough cash to cover its 1.2x distribution. During that time, it had a conservative leverage ratio of 3.3 times debt to earnings before interest, taxes, depreciation and amortization (EBITDA).

While this past success doesn’t guarantee future results, Delek Logistics seems to have plenty of fuel to keep increasing its payout, which is currently earning a nice 7.9%. The company recently acquired 3Bear Energy, which will increase its near-term cash flow. This agreement should give the company the fuel to increase its payment by 5% this year. Meanwhile, Delek US Holdings still has midstream assets that it could transfer to its MLP in the future to support its continued growth. On top of that, it can complete expansion projects or make additional third-party acquisitions to drive growth. Given its strong financial profile, even after funding the 3Bear deal, MLP has the financial flexibility to continue to grow its operations and distribution in the future.

Impressive stability

Pembina Pipeline is a leader pipeline company in Canada. Given its geographic concentration, most investors south of the border have never heard of Pembina. They miss her rock solid monthly dividend, which is currently yielding more than 5%. The Canadian pipeline operator has maintained or increased its dividend every year since 1998, growing it at a compound annual rate of 5% over the past decade.

This high-yield payout is built on a very solid foundation. The company generates very stable revenues, 88% of which come from fixed-price contracts. Meanwhile, Pembina pays just over half of its cash flow in dividends. It also has a strong investment-grade balance sheet, providing additional financial flexibility.

Pembina has a wide range of expansion opportunities to fuel growth in the years to come. It has several pipeline expansions currently under construction that will provide additional revenue when they come online. The company is also constructing a power generation facility to reduce costs and greenhouse gas emissions at one of the facilities. On top of that, it has a long list of projects in development to keep growing in the future.

The company also has an excellent acquisition history. It recently agreed to form a joint venture to merge its processing assets in Western Canada with those held by a global infrastructure fund. The company plans to increase its dividend by 3.6% once it closes this highly accretive deal. With a solid financial profile and a world that still needs a lot of energy, Pembina should be able to continue expanding its operations and its dividend over the next few years.

Income-focused investors will want to know about these energy stocks

Delek Logistics and Pembina Pipeline have quietly rewarded their investors with steadily increasing dividends over the years. Both companies have the financial fortitude and growth prospects to continue to increase these dividends in the future. Income-oriented investors will want to take a closer look at these lesser-known energy stocks.

Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool recommends PEMBINA PIPELINE CORPORATION. The Motley Fool has a disclosure policy.

State’s New Energy Strategy Focuses on Affordability and Aims to Take a Market-Based Approach

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The New Hampshire Department of Energy released a long-awaited update to New Hampshire’s 10-year energy strategy last week. The document, which is updated every three years, outlines the state’s priorities for key issues such as how we get around, heat our homes and keep the lights on.

The two main thrusts of the strategy – affordability and a technology-neutral, market-based approach to energy policy – ​​have remained largely the same since its 2018 version, along with much of the language and objectives. . But the update reflects new data and industry changes, such as the growing prevalence of electric vehicles.

As New Hampshire becomes increasingly hot and humid, the state’s strategy update indicates that climate change is a real and growing issue that is tied to our energy system, unlike the 2018 document. But clean energy advocates say it lacks specific recommendations on how to address this reality.

“It seems the strategy is trying to have it both ways, recognizing that we have an environmental crisis on our doorstep, there are causes that are attributable to our energy strategy, but we’re not going to make any specific recommendations on the how we solve this crisis through our energy system and change it,” said Chris Skoglund, director of energy transition at Clean Energy New Hampshire.

Who uses this strategy?

This state energy strategy update – the first from the new New Hampshire Department of Energy – identifies principles that should guide state energy policy and “establish a framework for policy makers and stakeholders stakeholders” who engage on these issues.

“It is not part of New Hampshire law, but it is a very important document for its persuasive value. It basically lays out what I think the administration’s approach to energy is,” said New Hampshire consumer advocate Don Kreis.

What are the goals of the state?

The plan sets out 10 goals for New Hampshire’s energy policy, which are nearly identical to the goals set by the state in 2018. As many Granite Staters experience spikes in energy costs, affordability tops the list.

“Expensive energy – or the pursuit of policies that increase the cost of energy – has a direct and negative impact on New Hampshire families and businesses and the quality of life in our state. As such, the main objective of this strategy is to pursue cost-effective energy policies,” the document states.

For the purposes of the strategy, the state defines cost-effectiveness using only the basics, said Josh Elliott, director of the Department of Energy’s Policy and Programs Division.

“That’s the simple math of it. Will this investment be profitable or at least will it be neutral over the assumed life of the investment? he said, noting that the decision to include the kinds of costs caused by climate change in this calculation would be up to the legislator.

The strategy also emphasizes a market-based approach to energy, saying that government policies should avoid “preferential quotas and mandates” and that the state should support regional policies that ensure that the energy policies of other states do not impact costs in New Hampshire.

All New England states except New Hampshire have mandated greenhouse gas emission reductions to spur renewable resource development.

The strategy claims that renewable mandates and subsidy programs from other states are “creating upward pressure on electricity prices,” and the Department of Energy says there is a possibility that those costs could be passed on. on New Hampshire taxpayers.

But the report also highlights emission reductions in New Hampshire, without acknowledging that these were largely achieved through other states’ actions on climate change.

“Other states are seeing their energy consumption and therefore their energy costs drop. We benefit from a greenhouse gas perspective, but overall our state is still using the same amount of energy as before,” Skoglund said.

A market-based approach in a heavily regulated industry

New Hampshire leaders have explored a market-based approach to energy policy for the past few years, said Sam Evans-Brown, executive director of Clean Energy New Hampshire. The idea behind this approach is “if we just let the markets act, we will get cheaper electricity,” he said.

But that misses the reality that energy is already a highly regulated sector of the economy, Evans-Brown said. New England’s grid operator, ISO-NE, is responsible for designing and overseeing certain energy markets, and bodies such as state utility commissions set rules and regulations. that shape these markets. They also give a yes or no to the decisions that utility companies – the major players in the market – want to make.

Skoglund added that the current energy strategy appears to encourage the state to leave existing regulations in place.

“It’s not necessarily a free market or an open market. It’s a market that’s kind of skewed towards the old energy system,” Skoglund said. “Without identifying a direction, goals and targets, we cannot identify the kinds of policies needed to help the market move in that direction.”

Evans-Brown said there is a need to rethink the current regulatory system. The updated strategy supports such an overhaul, including a section on network modernization.

“But if you really want to put meat to the bones of this kind of general nodding, there’s still a lot of work to do,” Evans-Brown said.

In a section on siting, the strategy also outlines an overhaul of a structure that determines much of New Hampshire’s energy future: the process of choosing where new energy projects are built.

The strategy says the current committee responsible for evaluating sites has a “heavy structure” and needs work – including clarity on jurisdictional issues and “a consistent and well-informed membership”.

What about transportation and heating?

Transportation and home heating account for the largest share of New Hampshire’s greenhouse gas emissions, and climate action advocates have stressed the need for progress in these areas.

A major change reflected in the update is the adoption of electric vehicles over the past three years across the country.

The Department of Energy has stressed that building electric vehicle charging infrastructure should come from federal funds rather than taxpayer dollars, and that some of those investments should be focused on rural areas that may not not attract private companies to install chargers.

As more people use electric vehicles, the strategy also highlighted the need to develop different electricity rate structures that reflect the changing cost of charging these vehicles over time. During off-peak hours electricity is cheaper, but charging during peak hours – when people come home from work, turn on the lights or cook – would cost more.

In terms of heating, the strategy says the use of heat pumps, wood and renewable natural gas will likely increase due to “carbon reduction efforts,” but does not specify who those efforts will be aimed at. .

“Replacing heating systems is a huge cost to homeowners and business owners. State and local policies should not force the early, uneconomical replacement of these systems or unreasonably interfere with a home or business owner’s choice of fuel source,” the document states. .

How does this strategy address climate change?

The Intergovernmental Panel on Climate Change has made it clear that urgent change is needed to reduce greenhouse gas emissions and protect humans from increasingly devastating levels of global warming. We have the tools to limit global warming, says the IPCC, including energy-generating technologies that don’t emit the greenhouse gases that cause climate change.

The cost of these technologies is also falling, although in New Hampshire, the Department of Energy says, they are not yet able to compete on a large scale. The strategy argues that the government should be technology neutral when developing its energy policy.

“The most effective way to reduce emissions and protect our natural resources from climate change is to achieve a market where low-emission resources are economically competitive without government mandates or subsidies,” the strategy states.

While the document acknowledges the reality of climate change, the steps New Hampshire leaders need to take to address it remain unclear, clean energy advocates said.

The Department of Energy says renewables will continue to grow in importance and that “market selection” should drive investment in these resources.

“Rapid changes in public policies are difficult, and care must be taken when changing policies and incentives that impact existing investments and resources,” the strategy says, but notes that the use of policies to allow older technologies to “freeze out competition” is not acceptable, and that some newer technologies could be “wise investments in the near future when cost curves are more competitive”.

But, the paper says carbon-based fuels “will likely remain the most important overall fuel type in New Hampshire’s resource mix for decades,” and says policies should let existing resources compete for shares of market.

These articles are shared by partners of The Granite State News Collaborative. For more information, visit collaborativenh.org.

These tips can help you save energy this summer

As the San Antonio area experiences record summer temperatures and high energy demand, CPS Energy officials say conservation can help you manage your energy bills and keep the lights on across the state.

CPS Energy recently launched a color-coded conservation level notification program. This program outlines actions you can take for daily conservation and during peak days of energy demand.

The program also provides advice on what to do if the reliability of the national grid is threatened. The program features four color-coded energy conservation levels, guiding customers through simple conservation tips related to expected energy demand.

Every day, CPS Energy will communicate the level of conservation through the company’s website, electronic bulletin boards, social media and other public awareness efforts.

A d

CPS officials say most days will be green days, calling for daily conservation action. If additional conservation is required during peak hours of energy demand, CPS Energy will raise the status to a yellow day. Amber and red alerts will only be issued if the Electric Reliability Council of Texas (ERCOT), the statewide grid operator, declares that grid reliability is at risk.

The new conservation program is part of a community-wide “Beat the Heat” partnership to raise awareness of how everyone can stay safe, conserve energy and water and save money, said officials from CPS Energy.

Here are some tips to help you conserve your energy this summer:

  • Set thermostats 2-3 degrees higher; set programmable thermostats to higher temperatures (up to 85 degrees) when no one is home. CPS Energy states that the optimum energy-saving temperature is 78 degrees.

  • Use fans to feel 4-6 degrees cooler.

  • Set pool pumps to run early in the morning or at night; stop from 2 p.m. to 7 p.m.

  • Turn off and unplug non-essential lights and appliances.

  • Avoid using large household appliances (i.e. ovens, washing machines, etc.), especially during peak hours of energy demand.

  • Perform pre-summer maintenance, including having your HVAC system inspected by a licensed professional and making sure your home is properly weatherized.

May and June brought record heat for the region, and South Texas continues to experience hot summer temperatures. According to CPS officials, power demand is at an all time high – ERCOT broke at least half a dozen peak power demand records this summer.

Visit cpsenergy.com to see today’s energy conservation level, learn more about conservation levels and alerts, and find Beat the Heat tips to save energy and money. Customers can call CPS Energy at (210) 353-2222 for help with billing or payment terms or visit an upcoming event listed here.

Hydrostor Announces Addition of Energy Veteran Executive

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Toronto, Canada, July 22. 12, 2022 (GLOBE NEWSWIRE) — Hydrostor Inc. (“Hydrostor”), a leading provider of long-term energy storage solutions, today announced the appointment of Judith (Judi) Johansen as a member independent of the board of directors.

Ms. Johansen joins Hydrostor with extensive experience in the energy sector. Between 2001 and 2006, she was President and Chief Executive Officer of PacifiCorp, where she was responsible for regulated power generation, wholesale energy services, mining, transmission and distribution businesses. Prior to PacifiCorp, she held executive positions at Bonneville Power Administration and Avista Energy (formerly Washington Water Power). Ms Johansen was also an executive director at Scottish Power between 2003 and 2012.

Ms. Johansen holds a BA in political science and a JD in law and currently sits on the boards of several organizations, including the publicly traded power company, IDACORP.

“We are very pleased to have Judi join our board of directors,” said Curtis Van Wallenghem, Hydrostor’s president and CEO. “His experience in the energy sector in North America and Europe will be extremely valuable as Hydrostor continues to develop its pipeline of advanced compressed air energy storage projects globally. Judi is also a great cultural complementarity with a real passion for leading the energy transition.

About Hydrostor

Hydrostor is a long-duration energy storage solutions provider that provides reliable and affordable integration of long-duration energy storage, enabling grid operators to scale renewables and secure grid capacity. Hydrostor supports the green economic transition by employing people, suppliers and technology from the traditional energy sector to design, build and operate emission-free energy storage facilities. Hydrostor has developed, deployed, tested and demonstrated that its patented Advanced Compressed Air Energy Storage (“A-CAES”) technology can provide long-lasting energy storage and enable the transition to renewable energy. A-CAES uses proven components sourced from mining and gas operations to create a scalable energy storage system that is low impact, cost effective, has a lifespan of over 50 years and can store energy from 5 hours to several days if necessary. With backing from Goldman Sachs Asset Management, CPP Investments and BDC Canada, Hydrostor has projects around the world in various stages of development to deliver capacity in excess of 200 MW each.


        

Centrica’s top investors say energy group must restore dividend

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Major Centrica shareholders are calling on the British energy group to restore its dividend when results are announced next week, even as households face another sharp rise in their energy bills.

The company behind British Gas, the UK’s biggest energy supplier, suspended its dividend at the height of the first wave of Covid in 2020. But it is now under pressure to resume payments to investors after racking up a net cash of £700m from divestitures such as the sale of its US operations in 2021.

“Reinstatement of the dividend is an absolute necessity as it has been a long and difficult recovery for this business for shareholders,” one of the top 10 investors told the Financial Times.

Another investor said shareholders had “long awaited the reinstatement of the dividend and, aside from this year, endured a strong share price underperformance.”

Centrica benefited from high commodity prices; it still owns gas generating assets in UK waters and a 20% stake in the current fleet of UK nuclear power stations. Its performance has improved under chief executive Chris O’Shea, who replaced Iain Conn in 2020, with its share price gaining 76% in the past year.

However, any move to reinstate a payout to investors at a time when customers are facing an acute cost of living crisis would be politically difficult.

Another shareholder said the company should be “careful with messaging, at a time when everyone’s energy bills are rising”.

Households face another painful rise in their energy costs in October, when the UK price cap – which dictates the bills of 23 million households – is set to rise another 65% to more than £3,200 a year on average . Ofgem, which sets the cap, will announce the new level in August.

Analysts expect O’Shea to restore the dividend to a “modest” level when the company reports first-half results on July 28. The average analyst forecast points to an interim dividend of 0.75 pence per share and a full-year payout. 3.3p, compared to 3.5p in 2019.

Investec analyst Martin Young forecasts adjusted operating profit of £1.3 billion for the first half, including the final contribution from Centrica’s Norwegian oil and gas assets, which were sold in May .

O’Shea has waived a £1.1m bonus payment this year. He is expected to point out next week that Centrica has around 500,000 retail investors – a legacy of when British Gas was privatized in 1986 — which would benefit from a restored dividend.

However, Simon Francis, coordinator of the End Fuel Poverty Coalition, said that while the energy market was “a complex beast”, it was not “fair” for energy companies and their investors to “profit while millions of families face a very real choice between using energy or putting food on the table.

Centrica struggled during Conn’s five-year tenure with profit warnings, massive job cuts and steep losses, after failing to stem a wave of customer defections to cheaper rivals that offered discounted offers. The company fell short of ambitious revenue targets for new products such as home appliances.

However, it has benefited from the collapse of more than 30 rival energy suppliers over the past 18 months as rivals’ cut-price deals ultimately proved unsustainable.

Centrica, which declined to comment on the possible reinstatement of the dividend, has added around 750,000 customers since the start of January 2021 by rescuing those from collapsed competitors via Ofgem’s “provider of last resort process”.

Uranium Energy Corp Announces Annual General Meeting Results

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CORPUS CHRISTI, Texas, July 21, 2022 /PRNewswire/ – Uranium Energy Corp (NYSE American: UEC) (the “Company” or “UEC”) is pleased to announce that, in conjunction with the holding of the Company’s recent annual general meeting of shareholders on July 21, 2022 (the “AGM”), the following motions were duly ratified by the shareholders of the Company as follows:

  • Amir Adnani, spencer abraham, Vincent Della Volpe, David Kong, Ganpat Mani and Gloria Ballesta have been elected to the Board of Directors of the Company;
  • PricewaterhouseCoopers LLP, Chartered Professional Accountants, has been appointed as the company’s independent registered public accounting firm;
  • the company’s 2022 stock incentive plan was approved; and
  • the remuneration of the Company’s officers was approved

Each of the above proposals has been approved by at least 90% of the shareholders of the Company who voted at the AGM and, in most cases, by at least 95% of the shareholders of UEC; the exact details of which will be provided by the Company in a current report filing on Form 8-K which will be made shortly.

Following the AGM, the following officers of the Company were reappointed by the Board of Directors of the Company:

Amir Adnani: President and CEO;

Pat Obara: Secretary, Treasurer and Chief Financial Officer; and

Scott Melbye: Executive Vice President.

About Uranium Energy Corp

Uranium Energy Corp is the fastest growing leading uranium mining company in the United States, listed on the NYSE American. UEC is a uranium company and is advancing the next generation of low-cost, environmentally friendly in-situ recovery (ISR) uranium mining projects. The company has two production-ready ISR hub and spoke platforms in south texas and Wyominganchored by a fully licensed and operational processing capability at the Hobson and Irigaray plants. UEC also has seven US ISR uranium projects with all of their major permits in place. In addition, the Company has other diversified holdings of uranium assets, including: (1) one of the largest portfolios of physical uranium U stored in the United States3O8; (2) a significant stake in the industry’s only royalty company, Uranium Royalty Corp. ; and (3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. The Company’s operations are managed by professionals with a recognized profile of excellence in their industry, a profile based on several decades of practical experience in the key facets of mineral exploration, development and extraction. uranium.

Stock market information:
US NYSE: CUE

WKN: AØJDRR
IS number: US916896103

Safe Harbor Statement

Except for statements of historical facts contained herein, the information set forth in this press release constitutes “forward-looking statements” as that term is used in United States and Canadian securities laws. These statements relate to analyzes and other information that are based on forecasts of future results, estimates of amounts not yet determinable and management’s assumptions. Any other statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or indicating that certain actions, events or results “could”, “could”, “could”, “could” or “will” be taken, occur or be carried out) are not statements of historical fact and should be considered as “statements prospective”. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. prospective. These risks and other factors include, among others, the actual results of exploration activities, variations in the underlying assumptions associated with estimating or realizing mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry, including but not limited to those associated with the environment, delays in obtaining governmental approvals, permits or financing or in completing development or construction activities, title disputes or limitations of claims on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause the actions, events or results are not those intended, estimated or intended. Many of these factors are beyond the Company’s ability to control or predict. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements contained in this press release and any document referred to in this press release. Important factors that could cause actual results to differ materially and could affect the company and the statements contained in this press release can be found in the company’s filings with the Securities and Exchange Commission. For the forward-looking statements contained in this press release, the Company claims safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update or supplement forward-looking statements whether as a result of new information, future events or otherwise. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

SOURCEUranium Energy Corp

Shell van Beurden boss: “Supply must adapt but to less demand”

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For the first time in nearly a decade at the helm of Europe’s biggest oil and gas company, Shell CEO Ben van Beurden feels he is being listened to.

The commodity shock triggered by the war in Ukraine has pushed European officials to better understand the global energy system and secure new sources of supply. Some of them ended up on Shell’s doorstep.

“On issues of energy security, energy balance sheets, investment levels, I’ve never had such good discussions with governments as we have today,” van Beurden told the Financial Times.

In the UK, Shell is being asked to produce more gas in the North Sea. In Germany, it is in talks to help operate and supply one of the country’s largest refineries should it be cut off from Russian oil.

Renewed engagement with previously shunned supermajors represents a major shift from last year, when Shell was ordered by a Dutch court to cut emissions, and oil and gas companies were barred from the climate meeting COP26 in Glasgow.

Shell has appealed the court’s decision, sparking heavy criticism from environmental groups who say it should have recognized the impact of fossil fuels much earlier and is doing far too little to change course. At its annual meeting in London in May, protesters interrupted proceedings for three hours.

In an interview at Shell’s London headquarters, van Beurden argued that governments had too often set emissions targets without a plan for how to achieve them and pushed for cuts in oil and gas production without taking measures to curb consumer demand.

“As long as society believes that by starving [fossil fuel] supply, you’re kind of forcing demand down as well, that’s not a sustainable way to approach the energy transition,” the 64-year-old said. “The supply must adjust, but it must adapt to less demand.”

Since van Beurden succeeded Peter Voser as chief executive in January 2014, oil prices have crashed twice, world leaders have passed the historic Paris climate accord and more than 1,500 institutions are committed to selling fossil fuel stocks.

In response, Shell said last year that its oil production had peaked and that it would halt oil and gas exploration in new markets after 2025. It pledged to reduce emissions from its own operations by 50% by 2030 and to net zero by 2050, while reducing, albeit less rapidly, the carbon emitted when burning the fuel it sells.

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Will European demand for alternatives to Russian fossil fuels prompt a reversal of these commitments? “Absolutely not,” van Beurden said. Instead, he believes governments’ renewed focus on energy policy and energy security will help Shell move “faster”.

Rather than being seen as an oil and gas major, van Beurden now favors an “energy transition company” but, like its peers, Shell is struggling to convince investors it can deliver the transformation.

The company’s share price is up 25% this year, but is still down about 6% since van Beurden took the top job. BP is down 21% over the same period.

While BP has pledged to cut oil production by 40% by 2030 and develop 50 gigawatts of renewable energy, Shell’s so-called Powering Progress strategy is less prescriptive and instead focuses on how it will help customers to decarbonize. Rather than build a collection of wind farms or solar power plants and hope to sell the electricity generated, van Beurden said Shell’s approach would be to start with each customer and provide the low-carbon solutions that he needs.

For now, clean energy is part of Shell’s business. Its integrated upstream oil and gas divisions generated more than 80% of Shell’s record $9.1 billion adjusted profit in the first three months of the year. Renewables and energy solutions accounted for $344 million, or less than 4%.

Shell says it has recruited nearly 1,000 people into this part of the business. But it has also had high-profile departures and, unlike BP, still does not have anyone with renewables experience on the executive committee.

Elisabeth Brinton, head of the renewable energy and energy solutions division, left Shell in February after three years with the company. Senior green energy appointments from investment bank Macquarie and solar group Lightsource BP have also come and gone over the past two years.

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A former executive said overhauling Shell’s 82,000 employees to deliver the energy transition would be its biggest challenge. “Business can make the transition, but people can’t,” the executive said.

Van Beurden said he has no concerns about staff turnover in the renewable energy division. The appointment of a renewable energy specialist to the executive committee would have seemed like a “symbolic change” at a time when the business generated only a small fraction of the group’s profits, he added.

Having spent his entire 39-year career at Shell, van Beurden’s focus since 2014 has been on improving performance, he said. “What I’ve always felt is this company…always a little below its potential.

Four months into his job, he proposed that Shell, then the world’s largest liquefied natural gas trader, acquire the second-largest BG Group. The $52 billion acquisition – the biggest in Shell’s history – has left Shell with around 15% of the global LNG market as demand for the fuel soars. It also provided van Beurden with an excuse to streamline other parts of the business. “It’s very difficult to shrink to grow, but to grow and then to improve is much easier,” he said.

Seashell under Ben van Beurden

$22-27 billion

Annual capex – down from $50 billion in 2014 (BG and Shell combined)

One way to boost Shell’s energy transition strategy today would be to do the same thing again, but this time – using money from soaring oil and gas prices – acquire a major renewable energy company .

But a deal the size and impact of the BG takeover would be difficult, he said. “I deliberately refrained from doing big things in this space to make sure we know how their business works first.”

Bankers like to suggest that Shell could buy Danish power company Orsted or Germany’s renewables-focused RWE. Although van Beurden said no deal was likely, he added that Orsted in particular would not fit in with Shell’s customer-focused plans. “I would be more inclined to think of an RWE with a clientele than an Orsted with a collection of wind farms.”

Shell’s preference has been to acquire mid-sized power companies around the $1 billion mark, he said. In April, it bought Indian renewable energy group Sprng Energy from Actis for $1.55 billion.

Going forward, Shell will sell more of its oil assets and use the proceeds to fund other energy transition deals. Oil prices have been above a seven-year high all year, but it’s getting harder to judge when to divest to get the best value, he said. “It’s a bit like trying to catch a knife that falls at that moment.”

In the absence of a major acquisition, billions of dollars will continue to be returned to shareholders. Shell has already made $8.5 billion in share buybacks this year. “If you can extrapolate a little bit what may come next, we can buy out a very significant part of the business,” he said.

Although Shell insists van Beurden is not expected to step down, few Big Oil CEOs have served much longer than 10 years and, according to people familiar with the details, the board has started discussions with potential internal candidates last summer.

When he finally leaves, he wants to have added value for shareholders but also to have done “the right thing” as a citizen, he said, insisting he was still comfortable with Shell’s much-criticized decision to challenge the Dutch court ruling. “For me personally, this has absolutely been a leitmotif: the things I need to stand up to scrutiny in the future.”

City and county approve 15 SPET articles to appear on November ballot

JACKSON, Wyo.– Jackson City Council and the Teton County Board of Commissioners met Monday to finalize SPET ballots. The ballot resolution is due with the county clerk today.

Fifteen SPET articles were approved to appear on the ballot in November. A total of 18 SPET applications were submitted in April.

The final item, $1.93 million in funding for an assisted living facility for seniors, was added at Monday’s meeting.

The two bodies agreed to cut community housing funding from $25 million to $20 million and conducted a number of mock polls on items to cut funding, all of which ultimately failed.

Commissioner Mark Barron was the only one to vote against the proposed SPET items, sharing concerns about the amount of money allocated to each item. “We have to match some of that,” he said, suggesting bringing the total closer to $125 million.

He suggested cutting a number of items, including $10 million for city employee housing, $10 million for county employee housing, $8 million for land conservation opportunities in the Teton County, as well as reducing some of the funding amounts for items.

SPET, as a reminder, is a penny sales tax approved by voters and paid by visitors and residents on most goods and services, with the exception of unprepared food.

The SPET items total $166,435,139 and will appear on the ballot as follows with an option to vote for or against each proposal:

  • Improvements to Teton Youth and Family Services facilities: “$2,000,000 for the design, construction, upgrade, renovation, reconstruction and improvement of existing Teton Youth & Family Services facilities at Hirschfield Center, Van Vleck Group Home and Red Top Meadows. This project is sponsored by Teton County.
  • Transportation alternatives and safe routes to school: “$15,000,000 for projects to improve transportation alternatives in Teton County and the City of Jackson, including the planning, design, engineering, and construction of pathways and sidewalks for safer routes to school, travel and recreation, as well as Stilson-n-ride Transit Center and Park and the purchase and installation of transit priority traffic lights and other transit infrastructure All unspent funds, including unused contingency funds, will be placed in a designated account, the principal and interest of which will be used for the operation and maintenance of these projects.”
  • St. John’s Health Housing“$24,000,000 for the planning, design, engineering and construction of rental housing for the workforce, as well as overnight accommodations for on-call hospital staff and patients/families. This project is sponsored by the City of Jackson.
  • Wyoming College Central Campus: “$10,000,000 for the planning, design, engineering and construction of a permanent campus of approximately 21,000 square feet to provide higher education opportunities in areas such as health, education Early Childhood, Hospitality and Language for Central Wyoming College in Teton County This project is sponsored by the City of Jackson.
  • Energy saving work projects: “$5,000,000 for funding community solar power generation and/or other local renewable energy; alternative fuel transportation projects; energetic audience; planning, design and construction of energy conservation and emission reduction projects. This project is sponsored by the City of Jackson.
  • Teton County Land Conservation Opportunities“$8,000,000 for the Teton County Scenic Preserve Trust to acquire interests in state trusts or private lands to conserve wildlife habitat, protect open space, protect historic agricultural uses, protect scenic values ​​and protect public access. This project is sponsored by Teton County.
  • Jfire station ackson Hole Fire/EMS“$15,000,000 for the planning, design and construction of a new fire station in Hoback and/or Wilson and for the demolition of the existing station(s) that will be replaced. This project is sponsored by Teton County.
  • Teton County School District Bronc Success Center: “$16,505,139 for the design, construction and outfitting of a new school facility that will include indoor recreational space for community youth sports programs, university classrooms and laboratories. This project is sponsored by Teton County.
  • Teton County School District Employee Housing: “$16,000,000 for the planning, design, engineering and construction of multi-family housing for employees of the Teton County School District. This project is sponsored by the City of Jackson.
  • City of Jackson Sidewalks and Pedestrian Accessibility: “$3,000,000 to improve walkability and accessibility in the City of Jackson, including the planning, design, construction, replacement and installation of sidewalks, accessibility features that comply with U.S. law on persons with disabilities, safety features for pedestrians and cyclists, mobility and wayfinding signs.This project is sponsored by the City of Jackson.
  • Teton County Water Quality Projects: “$10,000,000 to fund water quality projects that will protect and improve surface and ground water resources in Teton County, such as the Wilson Sewer Project, the Pollution Prevention Project for City of Jackson stormwater and projects to be identified in the Teton County Water Quality Master Plan. This project is sponsored by Teton County.
  • City of Jackson Employee Housing: “$10,000,000 for the purchase of land and the planning, design, engineering and construction of rental housing for City of Jackson employees. This project is sponsored by the City of Jackson.
  • Teton County Employee Housing“$10,000,000 for the purchase of land and the planning, design, engineering and construction of rental housing for Teton County employees. This project is sponsored by Teton County.
  • Community housing: “$20,000,000 to preserve and create permanent affordable and labor-intensive housing for local workers and their families. This can be accomplished through the purchase of deed restrictions and/or land interests upon which to design, plan, develop, design, construct deed restricted housing in accordance with the Jackson & Teton County Housing Supply Plan . Jackson City Council and the Teton County Board of Commissioners must authorize and direct the expenditure of these funds. This project is sponsored by Teton County.
  • Senior Center of Jackson Hole-Senior Assisted Living Planning:“$1,930,000 to engage professional services to conduct and deliver a needs assessment, feasibility study and proposed options for establishing assisted living facilities for the elderly in Teton County, which may include conceptual design. This project is sponsored by Teton County.

New study from Bain & Company shows electric vehicles poised to reshape auto industry faster than expected

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Bain expects the U.S. electric vehicle charging industry’s profit pool, Europe and China reach 13.5 billion euros by 2030

BOSTON, July 20, 2022 /PRNewswire/ — New search for Bain & Company shows that electric vehicles (EVs) are poised to reshape the automotive and mobility industries faster than expected. Bain expects the U.S. electric vehicle charging industry’s profit pool, Europe and China increase to €13.5 billion by 2030, including up to €6 billion from the United States, up to €5 billion from the European Union (EU) and up to to 2.5 billion euros from China.

Countries around the world have already introduced ambitious green energy targets and supported the transition to electric vehicles. Now the Ukraine the war accelerated these efforts and prompted many governments to further reduce their dependence on Russian oil and gas. The charging infrastructure and services critical to the adoption of battery-powered electric vehicles (BEVs) is a huge and strategic new business opportunity.

“The next decade will be unprecedented for the electric vehicle charging ecosystem worldwide,” said Lucas Martin, partner at Bain & Company. “Future winners are moving fast and partnering to secure the best digital locations and platforms to deliver a seamless charging experience. These leaders navigate market uncertainties by designing scenario-based strategies that allow them to pivot quickly when consumer behaviors or regulations change.”

Where to compete

In the short term, the investments will be used to build the necessary infrastructure. In transit pricing, profitability will depend on the ability to achieve high utilization rates. Winning in this sector will require massive investment in a network of convenient, reliable and fast charging stations (over 150 kilowatts) that provide an excellent customer experience.

Going forward, the largest pool of benefits for home and work charging is likely to be related to next-generation smart energy services, including vehicle-to-grid and vehicle-to-home charging. These services will account for about a third of the total profit pool by 2030, becoming increasingly important as the volume of solar and wind energy increases. These services allow power companies to harness the storage capacity of car batteries to better balance supply and demand.

Regional differences

Electric vehicle charging markets in Europethe United States and China will differ depending on the share of electric car sales, local driving and charging habits, predominant housing type and market regulations. By 2030, for example, BEVs are expected to account for 55% of total car sales in Europecompared to 40% in China and 32% in the United States.

The predominant housing type in a specific market is another important factor influencing charging solutions. For example, the market for charging products for single-family homes will be larger in the United States, where 82% of the population lives in single-family homes, compared to 60% in the EU and 37% in the relevant urban regions of China.

Regulation will also play an important role in the development of the market for smart energy services. The complex patchwork of state-by-state rules in the United States will significantly affect vehicle-to-network service strategies and could slow widespread adoption. The EU aims to create a policy framework to improve energy storage and develop services, while China market will remain highly regulated and concentrated. These conditions are likely to accelerate the development of smart energy services.

Charging occasion

“As companies and investors consider where to play and how to win in the electric vehicle charging ecosystem, it will be critical to understand how the demand for different charging occasions and the regulatory landscapes differ by region today and in the future. the future,” said Eric Zayer, partner at Bain & Company. “While consumers in suburban areas of the United States and Europe will be able and will want to charge at home, consumers who live in dense urban areas, such as in Chinawill be forced to charge more in other places, such as work, in destinations such as restaurants or in transit.”

  • Transit tax: High-speed transit charging stations require heavy capital outlay – $30,000 for $150,000 per unit. Reliability, convenience, and a differentiated customer experience, like Wi-Fi service and quick-service restaurants, will be critical to success.
  • Home charging: Home charging winners will prioritize easy installation, affordable pricing, and bundles with an EV purchase. Homeowners will also seek benefits for their overall home energy management system, including the ability to save electricity and protect against power outages.
  • Loading at destination: What matters most in destination charging is selecting high-traffic locations, such as supermarkets or restaurants, and the right type of charger to match the amount of time consumers typically spend there. As with public transport pricing, destination charging stations must be extremely reliable and offer competitive prices.
  • Workload : Offices and other workplaces require easy-to-use, inexpensive chargers. Employers have the option of offering this access as a benefit to employees. In some industries, there is a need to recharge fleets of light commercial vehicles and buses. These large-scale depots often need to be equipped for overnight charging and able to work with power grid operators and utilities.
  • Smart energy services: Next-generation smart energy service providers will need to offer utilities access to enough parked cars to create a powerful reserve of energy that can balance grid demand. They must also provide smart home or facility devices and an extensive and secure computing platform for smart charging. This includes powerful cloud-based software that can help predict how many cars will connect to the network and what time they will access the service. Leaders will work with grid operators to help them use electric car charging to stabilize the grid system.

Editor’s note: For more information or interview requests, please contact Katie Ware at [email protected] or tel. +1 646-562-8107.

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious changemakers shape the future.

In 65 cities in 40 countries, we work alongside our clients as one team with a common ambition to achieve extraordinary results, outperform the competition and redefine industries. We complement our integrated and personalized expertise with a vibrant ecosystem of digital innovators to deliver better, faster and more sustainable results. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise and knowledge to organizations tackling today’s pressing challenges in education, racial equity, social justice, economic development and the environment . We have achieved a gold rating from EcoVadis, the leading environmental, social and ethical performance rating platform for global supply chains, placing us in the top 2% of all companies. Since our founding in 1973, we have measured our success by the success of our customers, and we proudly maintain the highest level of customer advocacy in the industry.

SOURCE Bath & Company

1 bear market buy to earn $1,000 in passive income

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This bear market is a gift for value seekers. You can find so many good stocks on the TSX today it is true. But investing in individual stocks can be expensive and frankly quite risky. But what if you don’t want to miss out on anything, but still want to earn passive income?

Enter the infrastructure

I would look at the infrastructure sector right now. No matter what, infrastructure is still needed. Phone lines, energy assets, roads, sewers, all those necessities we take for granted are powered by infrastructure companies. And that means they’re also backed by the government, with projects that won’t be canceled in the short term.

But here is the challenge. Many companies active in the infrastructure sector rely solely on a of these areas. Maybe they just do energy, or roads, or phones – you get the picture. So how can you participate in all of this? Better yet, how can you get great returns, as well as passive income through dividends?

Consider an exchange-traded fund

An exchange-traded fund (ETF) is a great option. Not only could you get a diverse set of infrastructure assets, but you overall those too. For this I would consider the BMO Global Infrastructure ETF (TSX: ZGI). The company has major investments in everything from pipeline companies like Enbridgeto cell tower companies like International Crown Castle, and all the rest. You can earn income from all those stable stocks, worry-free.

Why? Because you pay a small management fee to allow someone other to worry about investing in this gigantic sector for you. These are the experts who manage this low volatility ETF. An ETF whose shares have remained stable this year, and up 10% last year. And right now, it’s offering a dividend yield of 3.34%.

Make that thousand

With stocks hovering around the same price as at the start of 2022, now is a great time to buy stocks for a future boost. Stocks have risen 176% over the past decade, recording a compound annual growth rate (CAGR) of 10.69%.

But instead of looking at how long it will take you to make those returns, let’s see how much it would take to create $1,000 of passive income. To achieve this, let’s look at the dividend yield of 3.34%. It’s $1.32 per share annually. So to create $1,000 every year would be like investing in 758 stocks at a cost of $32,450 on the Toronto Stock Exchange today.

Not only is this dividend income guaranteed, but you can expect it every year beyond the returns, but it should also increase! In fact, the dividend has grown at a CAGR of 9.35% over the past decade. So if you were to invest that $32,450 today and see the same growth, in just five years, you could have a portfolio worth $61,417 by simply reinvesting your dividends. It’s almost double your initial investment, all from a safe, passive income-generating stock.

Conquest Resources opts for the Golden Rose project to Atha Energy Corp.

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Toronto, Ontario–(Newsfile Corp. – July 19, 2022) – Conquest Resources Limited (TSXV: CQR) (“Conquest“or the”Company“) announces that it has entered into an agreement pursuant to which it has granted an option to Atha Energy Corp. (“Atha“) to acquire up to 100% undivided interest in the mining leases known as the Golden Rose Property located in the mining district of Sudbury, Ontario. To fully execute the option, Atha must issue a total of 1 500,000 shares of Atha and make cash payments of $1,000,000.00 over a period of 36 months. Atha has also agreed to earn a net smelter return of 1.0% on the Golden Rose project.

ABOUT CONQUEST

Conquest Resources Limited, incorporated in 1945, is a mining exploration company exploring for base metals and gold on mineral properties in Ontario.

Conquest owns a 100% interest in the Belfast – Teck Mag project, located in the Temagami mining camp at Emerald Lake, approximately 65 kilometers northeast of Sudbury, Ontario, home to the former Golden Gold Mine. Rose and rests on the very promising greenstone geology of the Abitibi. over a longitudinal extent of seventeen (17) kilometers.

In October 2020, Conquest completed the acquisition of Canadian Continental Exploration Corp., which owns a large set of mining claims that surround Conquest’s Golden Rose mine, and subsequently doubled its land holdings in the Temagami mining camp through staking of 588 mining cells, encompassing approximately 93 km², centered on Belfast Township, bordering the Temagami magnetic anomaly.

Conquest now controls over 300 km2 of underexplored territory, including the former Golden Rose mine at Emerald Lake, located in the Temagami mining camp.

Conquest also owns a 100% interest in the Alexander gold property located immediately east of the Red Lake and Campbell mines in the heart of the Red Lake gold camp on the significant regional “Mine Trend” structure. The Conquest property is almost entirely surrounded by Evolution Mining land holdings.

In addition, Conquest owns a 100% interest in the Smith Lake gold property of six patented claims and 181 staked mining claims north, west and south of the former Renabie gold mine in Rennie Township. in northern Ontario, operated by Corona and Barrick which had reported gold production of over 1,000,000 ounces between 1947 and 1991 (Northern Miner, March 4, 1991).

FOR MORE INFORMATION, CONTACT:

[email protected]
www.conquestresources.com

Tom Obradovich
President and CEO
416-985-7140

Forward-Looking Statements. This press release may include certain “forward-looking statements”. All statements, other than statements of historical facts, included in this release, including, without limitation, statements regarding the completion of the Acquisition and Consolidation, the release of escrowed funds, future cash, potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest’s expectations are the exploration risks detailed here and from time to time in Conquest’s filings with securities regulators. Neither the TSXV nor its Regulation Services Provider (as defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131263

Tesla HVAC system still on future product list: Elon Musk

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Talk of a Tesla HVAC system hasn’t been talked about in quite a while, but Elon Musk recently confirmed that it’s still on the future product slate.

On Monday, Tesla shareholder Owen Sparks asked Elon Musk to make a home HVAC with HEPA filter to help with allergies. The Tesla CEO responded to Sparks, commenting that an HVAC system is especially important in places like Austin, which have “an upper level amount[s] of pollen in the air.

During a 2020 earnings call, Elon Musk explained Tesla’s plan to enter the residential and/or commercial HVAC market. He said he was excited about the development of an HVAC system with hospital-grade particulate filtration. Musk pointed out that Tesla has already achieved such a system in its Model S and Model X cars. Tesla Chief Financial Officer Zachary J. Kirkhorn added that Model 3 and Model Y vehicles have filtration capable of MERV 16 or 15. .

“So taking all of these things that we learned and applying them to what HVAC would be, and commercial HVAC would be just very exciting. And then if you condense water, like why not have some water sources as well, if you have water then you could heat the water and also have a water heater,” Elon Musk concluded. .

At the end of the fourth quarter of 2021, Musk hinted that Tesla was developing a package of HVAC, energy storage, solar and hot water for homeowners.

Lars Moravy, vice president of vehicle engineering at Tesla, noted that integrating these systems into a home is no different from doing so in a vehicle. And senior vice president of powertrain and energy engineering Drew Baglino pointed out that integrating these systems into a car is more complicated.

“But, you know, obviously those systems are all disparate, and what we’ve done with Powerwall and solar charging is integrating them more and more. The next logical step is obviously the HVAC, water and heating. So we’re going to do it and we’ll probably integrate it better than anyone. But, as you said, we have a lot on our plate,” Moravy said.

Currently, the company is working on many projects, including the Cybertruck, Semi, Roadster and Optimus. Additionally, Tesla continues to ramp up production at Giga Berlin and Giga Texas. Meanwhile, Tesla Energy is working on fulfilling Megapack orders and the new Megapack factory. It’s unclear when Tesla will officially unveil an HVAC system.

The Teslarati team would appreciate hearing from you. If you have any advice, contact me at [email protected] or through Twitter @Writer_01001101.

Tesla HVAC system still on future product list: Elon Musk






FSI announces its revenue for the second quarter of 2022

VICTORIA, BRITISH COLUMBIA, July 18, 2022 (GLOBE NEWSWIRE) — FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-SOULFADN: FSI, FRANKFURT : FXT), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally friendly water and energy conservation technologies. Today, the company announces a year-over-year increase in revenue for the second quarter (Q2) 2022.

Sales increased in Q2 2022 compared to Q2 2021. Flexible Solutions revenue increased from $8.535 million (Q2 2021) to $11.125 million (Q2 2022), up approximately 30% from one year to the next.

Dan O’Brien, CEO, said, “We are pleased with the second quarter and year-to-date revenue. We will do our best to continue this positive trend in the second half of 2022.”

Full financial results will be available on August 15, 2022 along with the Company’s quarterly filings with the SEC. A conference callI will take place at 8:00 a.m. Pacific Time, 11:00 a.m. Eastern Standard Time on Tuesday, August 16. To see the ISF August 152022 finance press release for the telephone numbers.

About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products using thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are made from the common biological amino acid, L-aspartic, and have a wide use, including scale inhibitors, detergent ingredients, water treatment, and water improvement. cultures. Along with TPA, this division has also started producing other crop enhancement products. The other divisions manufacture energy and water saving products for drinking water, agriculture, industrial markets and swimming pools worldwide. FSI is the developer and manufacturer of WaterSavrMT, the world’s first commercially viable water evaporation retarder. WaterSavrMT reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow-moving rivers. Heat savingMTa “liquid cover” evaporation retardant for the commercial pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.

Safe Harbor Layout
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Some of the statements contained herein, which are not historical facts, are forward-looking statements regarding events, the occurrence of which involves risks and uncertainties. These forward-looking statements may be influenced, positively or negatively, by various factors. Information regarding potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commission.

International flexible solutions
6001 54e Avenue, Taber, Alberta, CANADA T1G 1X4

Company details

Jason Bloom
Toll Free: 800.661.3560
Fax: 250.477.9912
Email: [email protected]

If you have received this press release in error or wish to be removed from our list of updates, please reply to: [email protected]
To learn more about flexible solutions and our products, please visit www.solutionsflexibles.com

Achieve Partners Announces Sale of Pioneering Technical Personnel Recruitment Company

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A&M Capital Partners acquires Genuent amid growing demand for new approaches to address the persistent IT talent shortage

NEW YORK, July 18, 2022 /PRNewswire/ — Achieve Partners today announced the sale of Genuent, an industry-leading technology staffing company that recently recognized by ClearlyRated as one of North America best agencies for both its clients and its consultants, to A&M Capital Partners (AMCP). Genuent also recently announcement a merger with TekPartners, a subsidiary of P2P Staffing Corporation (“P2P”), to form a new combined company called INSPYR Solutions. AMCP had previously acquired a majority stake in P2P from its founders in December 2021.

“Achievve has been a great partner throughout our growth. Their pioneering vision for education and training has accelerated new approaches like Genuent’s, designed to help fast-growing tech companies find the talent they need,” said kip wright, who served as CEO of Genuent and is now Executive Chairman of the Board of INSPYR Solutions. “Their insight allowed us to evolve our model rapidly, proving that innovative staffing models can both solve critical worker shortages and create new pathways to economic mobility in the tech industry.”

The sale comes at a time of historic demand for skilled tech talent across the country. Emsi Burning Glass Recent Research suggests that the need for digital skills is becoming more prevalent across an ever-widening range of industries, including retail and manufacturing, as well as occupational categories such as marketing and operations.

“Traditional approaches to learning can no longer keep pace with technological change and the skill requirements of employers,” said Achieve’s chief executive. Anand Radia. “Genuent’s track record of success demonstrates the role intermediaries such as IT staffing firms can play in shaping new talent development models that will reshape the future of work.”

Achieve Partners invests in new talent development models that strengthen the links between education and the world of work. Achieve’s Workforce Fund helps companies create learning programs to both expand their talent pools and increase access to career paths in fast-growing industries.

About Achieve Partners
Achieve Partners is designing the future of learning and compensation by investing in advanced technologies and new business models to strengthen skills development and secure the future of work for millions of Americans. By harnessing digital transformation to create new models of learning and new pathways to good jobs, Achieve is helping to level the playing field, improve socio-economic mobility, and rekindle the American Dream. www.achievepartners.com

About Genuent
Genuent is a leading technology staffing company that provides highly skilled information technology professionals and workforce solutions to help clients solve complex technology and business challenges. Thanks to strong and lasting relationships with its consultants and clients, Genuent is an element of change in the world of work. Genuent serves customers nationwide across the technology spectrum, connecting top technology talent with customers to provide responsive and collaborative support. Genuent was founded in 2006 and is based in Houston, TX. www.genuent.com

About A&M Capital Partners
A&M Capital Partners is Alvarez & Marsal Capital’s flagship investment strategy focused on mid-market control transactions in North America with total assets under management of $2.9 billion. A&M Capital Partners has a strong track record as a trusted partner to founders, companies and management teams, providing the capital and strategic assistance needed to take companies to the next level of success. A&M Capital Partners invests in companies across a wide range of sectors, including business services, industrials, manufacturing, food and beverage, healthcare, consumer and retail, government services, financial services and energy services. www.a-mcapital.com

SOURCE Reach Partners

Albay’s power problems: Takeover seen as solution

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FILE PICTURE

MANILA, Philippines — Amid mounting energy problems and years of outcry for better energy service in Albay, officials see a possible answer through a management takeover between an energy company in the province and its dealer.

Among the provinces of the Bicol region, which has been repeatedly hit by severe typhoons, the province of Albay has suffered from long-standing electricity problems such as blackouts, which have occurred almost regularly over the past last months.

Ed Lustan GRAPHIC

Albay Power and Energy Corp. (APEC), a private electricity distributor and subsidiary of San Miguel Corporation Global Power Holdings, has at least 205,000 electricity subscribers spread across 15 cities and three towns in Albay.

According to the APEC website, it began operations in February 2014 in Albay. He said he is focusing on three things: improving collection efficiency, reducing system losses, and improving brand image and corporate image.

But in recent months, APEC has announced more than 100 notices of power outages affecting areas covered by substations in Albay province. Some of these blackouts were planned, some were not.

Ed Lustan GRAPHIC

In addition to the announced power cuts, there were also cases of broken and overloaded transformers, which also led to temporary power cuts near the affected transformers.

In an effort to find a solution to solve the electricity problems of Albay residents, Governor Noel Rosal recently met with representatives of Albay Electric Cooperative (ALECO) and officials of the National Electrification Administration (NEA).

be decided

“One of the likely answers to the dilemma discussed is the possible takeover by ALECO of the management of the Albay Power and Energy Corporation (APEC), the latter being inundated daily with complaints from consumers because of its allegedly poor services” , the governor posted on Facebook. indicated page.

On March 26, 1991, ALECO – as the franchise holder – was officially registered with the NEA as a “non-profit, non-profit, apolitical service-oriented entity pursuant to Presidential Executive Order No. 269”.

“ALECO was granted the sole franchise to operate the light and electrical service for a period of 50 years from the issuance of the franchise in the province of Albay,” APEC explained.

Ed Lustan GRAPHIC

In 2013, APEC was incorporated and registered with the Securities and Exchange Commission (SEC), following the concession agreement between ALECO and SMC Global Power Holdings, Corp (SMCGPHC).

The following year, 2014, APEC officially took over the leadership of the debt-ridden ALECO.

Under the Private Sector Participation Program (PSP) between ALECO and SMCGPHC, the private company APEC will manage and operate ALECO for a period of 25 years.

READ: Albay co-op officials approve SMC subsidiary’s bid

However, it was noted that the public would still have to wait until next month to hear the final decision on what might help solve or alleviate the electricity problems in the province.

Ed Lustan GRAPHIC

“[I]At the meeting, it was emphasized that the issue and final decision will be decided in August when the Governor convenes an ALECO General Membership Meeting (AGMA) of all interested consumer members to thoroughly discuss the final decision on the power supply in Albay. ”

“Governor Rosal expressed high hopes that APEC would cooperate and abide by the final decision of the General Assembly in the event of a possible leadership change. Especially since reports have shown that APEC has already incurred debts amounting to almost five billion pesos,” wrote the Albay Public Information Office (PIO).

Ed Lustan GRAPHIC

“It can be recalled that the reason for taking over APEC years ago was to restructure ALECO’s two billion peso debt.”

APEC spokesman Pat Gutierrez said last May that the company owed NPC-SPUG 32 million pesos. This is in addition to the 4.2 billion pesos the company owed San Miguel Energy Corp. (SMEC), where APEC sources its electricity, outside of the wholesale electricity spot market (WESM).

Gutierrez also admitted that APEC operations had been hampered by unpaid bills from 53,000 consumers, system losses caused by rampant theft, and outdated transmission lines and stations.

According to her, the company was losing at least 142 million pesos each month due to a 21% system loss and non-payment of bills. The company’s collection efficiency was also pegged at just 74%.

READ: Month of darkness in Albay: Power outages, rate hikes

Geothermal power plants in 2023

Aboitiz Power Corp., meanwhile, recently announced that it is increasing its investments in renewable energy with the construction of a 17 megawatt binary geothermal power plant in Albay.

“The planned facility will be built with an entirely new binary plant system, pipes and transmission line” and is expected to be completed in 2023.

“This project aims to recycle our by-product and turn it into productive energy in the form of electricity, through the addition of a binary factory,” said Jeffrey Estrella, AP President and COO. Renewables Inc. (APRI).

“We are always keen to invest in technical improvements and innovations that extend the useful life and improve the production of our renewable energy assets,” added Estrella.

LILY: A 17 MW geothermal power plant will rise in Albay by 2023

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TC Energy Corporation – Consensus indicates 15.3% upside potential

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TC Energy Corporation found using the ticker (TRP) now have 9 analysts covering the stock. Analyst consensus points to a ‘Hold’ rating. The range between the target price high and the target price low is between 73.19 and 41.11 calculating the average target price we have 58.3. Given that the stock’s previous close was at 50.56, this indicates that there is 15.3% upside potential. The 50 day moving average now sits at 54.52 and the 200 moving average now moves to 52.48. The company has a market capitalization of $50,129 million. Company website: https://www.tcenergy.com

The potential market cap would be $57,803 million based on market consensus.

You can now share it on Stocktwits, just click on the logo below and add the ticker in the text to be seen.

TC Energy Corporation is an energy infrastructure company in North America. It operates through five segments: Canadian Gas Pipelines; American gas pipelines; Mexican gas pipelines; Liquid pipelines; and power and storage. The company builds and operates a 93,300 km pipeline network, which transports natural gas from supply basins to local distribution companies, power plants, industrial facilities, interconnecting pipelines, export terminals LNG and other companies. It also has regulated natural gas storage facilities with a total working gas capacity of 535 billion cubic feet. In addition, it has an approximately 4,900 km liquids pipeline network that connects crude oil supplies from Alberta to refining markets in Illinois, Oklahoma, Texas and the U.S. gulf. In addition, the Company owns or has interests in seven power generation facilities with a combined capacity of approximately 4,300 megawatts that are fueled by natural gas and nuclear fuel sources located in Alberta, Ontario, Quebec and New Brunswick; and owns and operates approximately 118 billion cubic feet of unregulated natural gas storage capacity in Alberta. The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.

GUEST COLUMN: A Commitment to Clean Energy, System Reliability | Opinion

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In response to Dick Standaert’s July 10 letter, I wanted to take a moment to share the strategy behind the future of Ray Nixon’s power plant in particular, as well as our energy future.

Colorado Springs Utilities’ energy mix by 2030 will include more than 40% of natural gas-based generation, with the remainder including solar, wind, hydroelectric and purchased carbon-free electricity.

While adding green power to our portfolio is a big part of our journey for a host of reasons, it’s not our only source of power. Because we are absolutely committed to the reliability and resilience of our electrical system, a number of solutions will remain in our portfolio.

Today, we will continue to dedicate resources to efficiency and conservation while seeking a balance between reliable natural gas-based generation and renewable energy.

Our commitment to system reliability, economic stewardship and resilience is as strong as our commitment to reducing carbon emissions. We are confident that we can achieve both largely thanks to the forward-thinking plans developed during the 18-month public process for the 2020 EIRP.

The alternative to these proactive measures was to fall behind and let regulators and activist groups dictate solutions that would be significantly more costly and punitive.

Keeping the Martin Drake Generating Station or the Ray Nixon Generating Station coal-fired is neither realistic nor financially viable in today’s regulatory climate where our taxpayers are exposed to volatile and rising fuel prices. Coal prices have skyrocketed lately, and personnel costs, equipment liability, and the agility of coal-fired power plants make these technologies much less advantageous than newer technologies.

The decision to discontinue our coal-based production was only made after extensive research and evaluation. It was not made in a vacuum.

Our proactive approach to green energy and our balanced portfolio approach also prepare us for future regulation. The regulations and standards in place to reduce carbon emissions are very real and will only become more aggressive in the years to come.

Here in Colorado Springs, we will be ready and well-prepared to stay in full compliance while ensuring a reliable and economically stable power system.

For utilities that remain reliant on coal-based generation, the costs of meeting increasingly restrictive emissions regulations will easily outweigh investments in natural gas and carbon-free alternatives, not to mention the abandonment of obligations to reduce environmental impacts. We will not be in this situation.

The maintenance and personnel resources needed to continue operating aging coal plants, such as Drake and Nixon, are significantly more expensive than similar natural gas generation. For example, operating and maintaining the modular natural gas units installed next to the Drake Generating Station will cost $200 million less over the next few years.

In his letter, Standaert refers to the global challenges related to the production and consumption of electricity. While these concerns are legitimate, we’re focused on the best path forward for Colorado Springs. We believe our plan is the most fiscally responsible approach to achieving an 80% reduction in emissions by 2030.

Eliminating coal from our energy mix will save our customers money, maintain or improve our system reliability, and continue to move Colorado Springs on the path to a financially compliant future. responsible and environmentally friendly.

Aram Benyamini is the CEO of Colorado Springs Utilities.

Aram Benyamini is the CEO of Colorado Springs Utilities.

UGI urges residents to use energy wisely during summer months – GantNews.com

With residents concerned about household bills during periods of inflation, UGI offers these simple tips to help minimize energy consumption during the rest of the warm months:

· If you have a programmable thermostat, increase the setting to the highest comfortable temperature possible if you have central air conditioning. Raise the temperature if you won’t be home for an extended period of time. You can save three to five percent on your air conditioning costs for every degree you raise your thermostat.

· Close doors leading to uncooled parts of your home. If you have central air conditioning, close the air vents in unused rooms. Keep air conditioning filters clean.

· Use ceiling and portable fans to circulate air as an alternative to air conditioning. Turn fans off when you leave the room – ceiling fans cool people, not the room.

· Seal holes and cracks around doors and windows. Eliminate air leaks around window air conditioners with foam insulation or weatherstripping. Ridding your home of air leaks will also reduce heating costs during the heating season.

· Close blinds, shades and drapes facing the sun to keep the sun’s heat out and help fans and air conditioners cool more efficiently.

· Consider applying solar control or other reflective films to your windows. Window films can save energy in summer. Window films can be installed directly over existing windows and are available in a range of tints, UV blocks and colors. Mirror type silver films are generally best suited to reflect sunlight and provide the most effective energy conservation. Be aware that window films have specific limitations including interior light loss, reduced window visibility, and aesthetic issues when viewed from the exterior.

· Avoid placing lamps or televisions near your room thermostat. The thermostat senses heat from these appliances, which may cause the air conditioning to run longer than necessary.

· Vacuum regularly to avoid dust accumulation. Make sure furniture and other objects don’t block airflow through your registers.

· If applicable, use your microwave for cooking to keep interior heat to a minimum.

· About 80% of homes have a clothes dryer. Use a low heat setting and clean the lint trap after each load to increase efficiency. You can also hang clothes to dry rather than using a clothes dryer.

· Use your bathroom fan when showering. A hot shower produces heat, steam and humidity, which can raise the temperature of the room. Running your bathroom fan while you shower draws heat and steam out of the room. If you don’t have a bathroom fan, open a window or leave the door ajar to create a cooler draft.

· UGI clients are also encouraged to learn more about the Low Income Utilization Reduction Program (LIURP). This weatherization program offers free installation of energy-saving measures to income-eligible households to help make energy bills more affordable. Possible energy saving measures include ceiling insulation; insulation of floors, ducts and hot water pipes; caulking and weather stripping, gas water heater repairs and low flow water saving devices. Visit www.ugi.com/assistance-programs/ for more information.

If you have a service-related issue, UGI’s emergency response is available 24 hours a day, every day. Your safety is always our top priority. UGI can be reached at (800) 276-2722.

UGI Utilities is a natural gas and electric utility headquartered in Denver, Pennsylvania. UGI serves more than 730,000 clients in 45 counties in Pennsylvania and one county in Maryland. Customers and community members are encouraged to visit UGI’s website at www.ugi.com, our Facebook page at www.facebook.com/ugiutilities; or follow us on Twitter at www.twitter.com/ugi_utilities.Key points to remember

  • UGI offers simple tips to help minimize energy consumption during the rest of the warm months.

Media GalleryContactsJoseph Swope[email protected]

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Short-term stake in Petrofac Limited (OTCMKTS:POFCY) increases by 107.7%

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Petrofac Limited (OTCMKTS: POFCYGet a rating) saw a sharp rise in short-term interest in June. As of June 30, there was short interest totaling 107,400 shares, an increase of 107.7% from the June 15 total of 51,700 shares. Based on an average daily trading volume of 13,000 shares, the day-to-cover ratio is currently 8.3 days.

Petrofac price performance

Shares of POFCY opened at $0.56 on Friday. Petrofac has a 12-month low of $0.56 and a 12-month high of $1.23. The company’s fifty-day simple moving average is $0.81 and its 200-day simple moving average is $0.80. The company has a debt ratio of 1.58, a quick ratio of 1.38 and a current ratio of 1.39.

Analysts set new price targets

A number of equity research analysts have published POFCY stock reports. JPMorgan Chase & Co. raised its price target on Petrofac shares from 170 GBX ($2.02) to 180 GBX ($2.14) in a Monday, May 23 report. Exane BNP Paribas upgraded Petrofac shares from a “neutral” rating to an “outperforming” rating and set a GBX 140 ($1.67) price target on the stock in a Friday, April 8 report. Goldman Sachs Group assumed coverage of Petrofac shares in a Thursday, May 5, report. They issued a “buy” rating on the stock. Finally, Berenberg Bank upgraded Petrofac shares from a “hold” rating to a “buy” rating in a Tuesday, May 3 report. Six equity research analysts rated the stock with a buy rating. According to MarketBeat, Petrofac currently has an average rating of “Buy” and a consensus target price of $160.00.

Petrofac Company Profile

(Get a rating)

Petrofac Limited designs, builds, manages and maintains infrastructure for the energy industries in the UK, Algeria, Thailand, Oman, Kuwait, Iraq, United Arab Emirates, Netherlands and India. ‘international. It operates through three segments: Engineering and Construction (E&C); Asset Solutions; and Integrated Energy Services (IES).

See also



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Your Most Valuable Assets | Sampson Independent

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“It was a waste of time.”

“It wasn’t worth it.”

We’ve all said it. Maybe you said it about a movie you saw that really wasn’t that entertaining. Or maybe you said it after working hard on a project that ended with little to no results.

It bothers us to waste our time, or waste our energy, or our effort. Why? Because we hate wasting our assets. And our time and energy are our two most valuable assets. If you think about it, it is from these two assets, your time and your energy, that the rest of your assets probably come. For example, you devote time and energy to your work or profession. From this work, you receive, or have received, funds that can become assets.

So what am I going to do with my most important assets, my time and my energy? Every day, consciously or, most of the time, unconsciously, we make this decision. Often we think the decision has already been made for us. I have to go to work. I have to take care of the children. Etc. But the truth is, you really don’t. But you decide to do it because it’s the best way to use your time and energy. Perhaps for the benefit of others and, ultimately, for yourself.

In the business world, they call it “doing a cost-benefit analysis.” The cost, or amount of time, labor, materials, etc. invested is it worth the profit or the potential profit? This week alone, CNBC ranked North Carolina as having the best business environment of any US state. With the growth of North Carolina’s economy, I often hear about some large companies moving to this state. I am certain that these companies carry out extensive cost-benefit analysis projects before final decisions are made.

In our personal lives, we often do a cost-benefit analysis, we just don’t realize it. I think it’s time for me to do a cost-benefit analysis of my golf game. Sometimes, well, most of the time, golf can be frustrating for me. A friend made a comment about his game that got me thinking. He said: “I’m either going to have to play more, train and get better. Or play less and enjoy more. (He is also frustrated with his game.)

So it’s time for me to do my own cost-benefit analysis. Could getting better at golf be worth the extra time and effort? The better question is, will it even make a difference to my golf game? Or should I just enjoy the game, enjoy the camaraderie on the course, and be happy when I hit that one good shot once in a while? I think I know the answer.

You see, how you use your two most valuable assets, your time and your effort, will determine your lasting impact on the world around you. We should enjoy life and work hard. But your lasting impact should be greater than what’s written on a golf scorecard or what’s in your bank account. It’s your impact on people and the world.

Are you having a positive and lasting impact on the world around you? I’ve heard that the world around you is called your sphere of influence, and that sphere is probably bigger than you think. This can include your family, work, friends, community, etc. This can include long-term relationships or brief but important contacts. Either way, the time and effort you put in can change someone else’s for good, maybe forever.

The apostle Paul knew this when he wrote his letter to the church in Corinth. In the paraphrase of the Message from the Bible, he writes: “And do not hold back. Throw yourself into the Master’s work, confident that nothing you do for Him is a waste of time or effort. (1 Cor. 15:58)

How do you use your two most valuable assets? It may be time to do your own cost-benefit analysis.

Mac McPhail, raised in Sampson County, lives in Clinton. McPhail’s new book, “Wandering Thoughts from a Wondering Mind,” a collection of his favorite chronicles, is available for purchase at the Sampson Independent office, online at Amazon, or by contacting McPhail at [email protected]

NextEra Energy, Inc. (NYSE:NEE) Receives Consensus “Moderate Buy” Recommendation From Brokerages

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Shares of NextEra Energy, Inc. (NYSE:NEE – Get Rating) have earned a consensus “moderate buy” rating from the ten analysts who currently cover the company, Marketbeat Ratings reports. Three analysts gave the stock a hold rating and four gave the company a buy rating. The year-over-year average price target among brokerages that have updated their coverage on the stock over the past year is $88.86.

A number of research analysts have weighed in on NEE shares. Evercore ISI reiterated a “hold” rating and issued a $90.00 price target on NextEra Energy shares in a research note on Friday, April 22. KeyCorp raised its price target on NextEra Energy from $87.00 to $89.00 and gave the stock an “overweight” rating in a Thursday, April 7 research note. Wells Fargo & Company raised its price target on NextEra Energy from $102.00 to $107.00 and gave the stock an “overweight” rating in a Monday, April 18 research note. Credit Suisse Group set a price target of $76.00 on NextEra Energy in a Monday, June 20 research note. Finally, StockNews.com began covering NextEra Energy in a research note on Thursday, March 31. They issued a “hold” rating for the company.

Performance of NextEra energy stocks

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NextEra Energy stock opened at $78.71 on Friday. The company has a debt ratio of 1.16, a current ratio of 0.49 and a quick ratio of 0.42. The stock has a fifty-day moving average price of $75.56 and a two-hundred-day moving average price of $78.60. NextEra Energy has a 52-week low of $67.22 and a 52-week high of $93.73. The company has a market capitalization of $154.63 billion, a P/E ratio of 106.36, a P/E/G ratio of 3.02 and a beta of 0.45.

NextEra Energy (NYSE:NEE – Get Rating) last released its quarterly results on Thursday, April 21. The utility provider reported EPS of $0.74 for the quarter, beating analyst consensus estimates of $0.69 by $0.05. NextEra Energy achieved a return on equity of 11.49% and a net margin of 8.97%. The company posted revenue of $2.89 billion for the quarter, versus analyst estimates of $5.16 billion. In the same quarter last year, the company posted earnings per share of $0.67. As a group, analysts expect NextEra Energy to post EPS of 2.84 for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Tuesday, May 31 received a dividend of $0.425. The ex-dividend date was Friday, May 27. This represents an annualized dividend of $1.70 and a yield of 2.16%. NextEra Energy’s payout ratio is currently 229.73%.

Insider Trading at NextEra Energy

In other NextEra Energy news, Director Kirk S. Hachigian purchased 10,000 shares of the company in a trade that took place on Tuesday, May 3. The stock was purchased at an average cost of $70.19 per share, with a total value of $701,900.00. Following the completion of the transaction, the director now owns 5,000 shares of the company, valued at approximately $350,950. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. In other NextEra Energy news, CEO John W. Ketchum acquired 12,909 shares of the company in a deal that took place Friday, July 1. The stock was purchased at an average price of $78.33 per share, with a total value of $1,011,161.97. Following the completion of the purchase, the CEO now owns 132,894 shares of the company, valued at $10,409,587.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, director Kirk S. Hachigian acquired 10,000 shares of the company in a transaction that took place on Tuesday, May 3. The shares were acquired at an average cost of $70.19 per share, with a total value of $701,900.00. Following the purchase, the director now directly owns 5,000 shares of the company, valued at approximately $350,950. Disclosure of this purchase can be found here. Insiders of the company own 0.38% of the shares of the company.

Institutional entries and exits

Several large investors have recently changed their stock holdings. Norges Bank bought a new position in NextEra Energy during Q4, valued at approximately $2,724,059,000. Vanguard Group Inc. increased its position in NextEra Energy shares by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 182,355,161 shares of the utility provider worth $15,447,306,000 after buying 3,505,846 additional shares in the last quarter. 1832 Asset Management LP increased its stake in NextEra Energy by 29.4% in Q4. 1832 Asset Management LP now owns 9,406,722 shares of the utility provider worth $881,233,000 after acquiring 2,136,829 additional shares in the last quarter. Alphinity Investment Management Pty Ltd increased its stake in NextEra Energy by 1,709.8% in Q1. Alphinity Investment Management Pty Ltd now owns 2,225,009 shares of the utility provider worth $188,481,000 after acquiring a further 2,102,067 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in NextEra Energy during the 4th quarter at a value of $166,275,000. Hedge funds and other institutional investors hold 77.89% of the company’s shares.

About NextEra Energy

(Get a rating)

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes and sells electricity to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, coal and natural gas installations. It also develops, builds and operates long-term contract assets that consist of clean energy solutions, such as renewable energy generation facilities, battery storage projects and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates power generation facilities in the wholesale energy markets.

Further reading

Analyst Recommendations for NextEra Energy (NYSE:NEE)

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in NextEra Energy right now?

Before you consider NextEra Energy, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and NextEra Energy was not on the list.

While NextEra Energy currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

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Google’s DeepMind alumni bring AI energy checks to industries

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(Bloomberg) — Manufacturing is one of the dirtiest corners of the corporate world. A startup of ex-Google engineers thinks it can clean it up with artificial intelligence.

Phaidra, a Seattle-based company, sells AI software to automate building controls for power plants and other industrial giants. It relies on the same patch as their old company, DeepMind, Google’s research lab. For several years, DeepMind let its artificial intelligence system manage the temperature checks inside Google’s data centers, which ultimately led to a significant reduction in the company’s electricity bill.

Phaidra’s algorithms are designed to select the most efficient temperature for unique facilities, such as a steel mill or vaccine manufacturer, and identify when equipment begins to lag in performance. Once in place, Phaidra’s system can reduce a plant’s energy consumption by up to 30% and save considerable capital, according to the startup. “It can immediately make those businesses more profitable,” says Jeremy Brewer, managing partner of Starshot Capital, an investor.

Jim Gao, CEO of Phaidra, sees manufacturing as a sector overlooked by Silicon Valley but ripe for the kind of advanced machine learning cooked up in places like Google. “They’ve been collecting data for so long, but they’re not using it,” he says of his new client base.

Indeed, the industrial sector, which accounts for about a quarter of all greenhouse gas emissions in the United States and continues to grow, is beginning to embrace cutting-edge data science. A report by IOT Analytics projects that industrial AI revenue will reach $72.5 billion by 2025, up from $11 billion in 2018.

Yet most of this usage represents basic tasks such as scanning data or creating online dashboards, not tools in which algorithms run entire control systems without anyone changing the dials. , like the one proposed by Phaidra. Few manufacturers have the capacity to attempt this or the budgets and technical prowess to maintain such a system. “It’s very rare,” says BCG chief executive Jon Van Wyck.

Phaidra, which was established in 2019, says it has several Fortune 100 industrial clients in fields as varied as pharmaceutical development to paper mills. He declines to name specific customers or financial figures. The startup recently raised $25 million in funding from Starshot and Character, investment firms created by other Google alumni. He also named Robert Locke, a 13-year veteran of industrial supplier Johnson Controls, as chairman.

Gao previously worked in DeepMind’s energy team alongside its technical co-founder, Vedavyas Panneershelvam. Engineers are among the few with extensive experience in reinforcement learning, a branch of AI where algorithms are designed to continuously improve. The most famous version of DeepMind is AlphaGo, its system for whipping up the famously difficult board game, Go.

While AlphaGo has been optimized to win Go, Katie Hoffman, another Phaidra co-founder, describes her system as being optimized to reduce the kilowatt hours of the plants it plugs into. Hoffman comes from the industrial sector – most recently as a director at equipment manufacturer Ingersoll Rand Inc. – and says many of Phaidra’s customers work in “critical” areas, with very specific demands on how their factories work. must be cooled and operated. They also rely on outdated, hand-coded software.

“They’re using what’s been around since the 1950s,” she says. “These industrial systems are incredibly difficult to operate on good days.”

DeepMind’s building control algorithms continued to alter dials inside Google’s data centers. And Google has started offering a similar service to its cloud customers. But the founders of Phaidra say their approach is tailored to the particularities of the industrial sector, which is light years away from sophistication of a Google building.

Gao did not share his company’s pricing, but says customers pay Phaidra less than the energy savings they realize through its service.

Wind power will create thousands of jobs in Indiana’s economy, according to WorkingNation ‘Green Jobs Now’ data

LOS ANGELES, July 15, 2022 /PRNewswire/ — WorkingNationa nonprofit that reports on the future of work, today began publishing “Green jobs now: Indiana” – multimedia reports based on original data – which predicts a 29.2% increase over five years in Indiana demand for green jobs.

The dramatic increase, well above the national average of 5.7%, is expected largely due to demand for Indiana for wind technicians.

Indiana will continue to see growth in green-related jobs, especially as we look to the transformation of Indiana electricity production portfolio”, Ryan Hadleyexecutive director of the Indiana Office of Energy Development, told WorkingNation in an interview for the “Green jobs now” project. “Over the past decade, Indiana increased its wind generation from virtually zero in 2008 to 6.5% in 2020.”

light projectionwho collected and analyzed original data for WorkingNation’s multistate Green Jobs Now project, estimates that there are already more than 11,678 workers in Indiana green economy, a moderate amount compared to other states.

“Green jobs now: Indianaidentifies the green skills most in demand by the state — knowledge of “energy conservation,” “energy efficiency,” and “renewable energy,” according to the data — and occupations where green skills are important. This suggests that some workers could get annual salary increases of maybe $800 or more by applying green skills, with boosts greater than $8,000 for certain positions. This demonstrates the value for workers to learn green skills and for local economies to have access to training as the federal government begins to roll out a $1.2 trillion infrastructure investments that are expected to boost green jobs nationwide.

In IndianaLightcast estimates that 1,146,364 workers, if they had access to training, could be retrained in green jobs.

“Green jobs now: Indianais the final state-focused episode of WorkingNation/Lightcast Green Jobs Now Series, a data-driven journalism project aimed at defining and identifying green jobs and skills, identifying where workers can find them, and presenting a compelling snapshot of the green economy. Previous installments looked at green jobs in Pennsylvania, Louisiana, Colorado, Arkansas, Illinois, Mississippi, Iowa and nationally.

The Indiana reports, supported by a grant from Walton Family Foundationwill initially include a WorkingNation.org site presentation article by Laura Aca and a detailed Lightcast report on the underlying data. Future items will include an episode of the “Work green, earn green“audio podcast and a”I want this job!” video offering an inside look at a green occupation at Indiana.

Organizations wishing to access WorkingNation data and experts can contact the contact below.

About Working Nation

WorkingNation is a non-profit journalism organization that tells stories about solutions to the lack of professional skills that is disrupting our economy. follow us on Youtube, Twitter, LinkedIn, Facebook and instagram.

Media Contact:

Steve Delsohn
[email protected]
805-358-3318

SOURCEWorkingNation

Critical Comparison: Archaea Energy (NYSE: LFG) and Sempra (NYSE: SRE)

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Archaea Energy (NYSE: LFGGet a rating) and Sempra (NYSE: SREGet a rating) are both oil/energy companies, but which is the better investment? We’ll compare the two companies based on earnings strength, institutional ownership, profitability, analyst recommendations, risk, dividends and valuation.

Insider and Institutional Ownership

55.9% of Archaea Energy shares are held by institutional investors. By comparison, 86.1% of Sempra shares are held by institutional investors. 36.7% of Archaea Energy shares are held by insiders. Comparatively, 0.1% of Sempra shares are held by insiders. Strong institutional ownership indicates that large money managers, endowments, and hedge funds believe a company is poised for long-term growth.

Analyst Recommendations

This is a summary of the current ratings for Archaea Energy and Sempra, as provided by MarketBeat.com.

Sales Ratings Hold odds Buy reviews Strong buy odds Rating
Archaea Energy 0 0 5 0 3.00
sempra 0 1 seven 0 2.88

Archaea Energy currently has a consensus target price of $28.80, suggesting a potential upside of 119.51%. Sempra has a consensus target price of $165.50, suggesting a potential upside of 11.82%. Given Archaea Energy’s stronger consensus rating and higher likely upside potential, equity research analysts clearly believe Archaea Energy is more favorable than Sempra.

Profitability

This table compares the net margins, return on equity and return on assets of Archaea Energy and Sempra.

Net margins Return on equity return on assets
Archaea Energy N / A N / A -9.66%
sempra 8.44% 10.96% 3.87%

Valuation and benefits

This table compares the revenue, earnings per share (EPS) and valuation of Archaea Energy and Sempra.

Gross revenue Price/sales ratio Net revenue Earnings per share Price/earnings ratio
Archaea Energy $77.13 million 20.36 -$23.90 million N / A N / A
sempra $12.86 billion 3.62 $1.32 billion $3.17 46.69

Sempra has higher revenues and profits than Archaea Energy.

Volatility and risk

Archaea Energy has a beta of 1.04, indicating its stock price is 4% more volatile than the S&P 500. In comparison, Sempra has a beta of 0.64, indicating its stock price is 36% less volatile than the S&P 500.

Summary

Sempra beats Archaea Energy on 7 of the 12 factors compared between the two stocks.

Archaea Energy Company Profile (Get a rating)

Archaea Energy Inc. is a producer of renewable natural gas (RNG) and renewable electricity in the United States. It owns and operates a diverse portfolio of 23 landfill gas recovery and processing projects in 12 states, including 13 projects that collectively generate approximately 177.3 MW of electrical capacity and 10 projects that have the capacity to generate approximately 27,480 million British thermal units per pipeline day. -Quality RNG. The company was founded in 2018 and is based in Houston, Texas.

Sempra Company Profile (Get a rating)

Sempra operates as an energy services holding company in the United States and internationally. The Company’s San Diego Gas & Electric Company segment provides electrical services; and supplies natural gas. It provides electric services to approximately 3.6 million residents and natural gas services to approximately 3.3 million residents that cover 4,100 square miles. Its Southern California Gas Company segment owns and operates a natural gas distribution, transportation and storage system that supplies natural gas to a population of approximately 22 million people covering an area of ​​24,000 square miles. The company’s Sempra Texas Utilities segment is engaged in the regulated transmission and distribution of electricity serving 3.8 million homes and businesses, and operating 140,000 miles of transmission and distribution lines . Its transmission network includes 18,249 circuit miles of transmission lines, a total of 1,174 transmission and distribution substations, and interconnection with 130 third-party generation facilities totaling 45,403 megawatts. The company was formerly known as Sempra Energy and changed its name to Sempra in July 2021. Sempra was founded in 1998 and is headquartered in San Diego, California.



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Hilcorp, Exxon Mobil and ConocoPhillips are the main emitters of greenhouse gases

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A pumpjack pumps oil into the Inglewood Oil Field as seen from the Kenneth Hahn State Recreation Area on July 13, 2022 in Los Angeles, California. – Consumer price inflation in the United States jumped 9.1% in the 12 months to June, the fastest increase since November 1981, according to government data released July 13. Driven by record gasoline prices, the consumer price index jumped 1.3% in June, reports the Labor Department.

Patrick T. Fallon | AFP | Getty Images

Hilcorp EnergyExxon Mobil and ConocoPhillips release the most greenhouse gases among U.S. oil and gas companies, according to a new report released Thursday by several sustainability organizations using U.S. government data.

The directory report ranks emissions data from the 303 oil and gas companies in the United States that report their emissions under the EPA’s greenhouse gas reporting program, and aims to bring transparency to emissions reporting , which has always been difficult to measure in a comparable and consistent way.

Non-profit associations Air Quality Task Force and Ceres commissioned the sustainable development consulting firm GRE to develop the report, and it uses government data up to 2020, the most recent emissions data available from the Environmental Protection Agency. Data for 2021 will be released in October.

Greenhouse gas emissions include emissions of methane, carbon dioxide and nitrous oxide, which differ in their impact on warming. For example, over 100 years, one tonne of methane emissions has the same impact on global warming as 29.8 tonnes of carbon dioxide. In many places, the report categorizes companies and regions by what are called “GWPs,” or units of global warming potential, which take these variabilities into account.

Total GWP units are not directly correlated to oil and gas production. For example, while Hilcorp Energy is the largest emitter of greenhouse gas units, it is the seventh largest producer of hydrocarbons. Conoco Phillips is the third emitter of greenhouse gases and the eighth producer of hydrocarbons.

“This new report clearly shows what experts have long known: there are clear steps oil and gas producers can take to reduce their emissions of methane and other greenhouse gases,” Lesley Feldman, senior analyst at the Clean Air Task Force, said in a written statement released alongside the new report. “Some take these steps while others don’t, and federal and state regulations are key to ensuring we can standardize best practices across the industry.”

Emissions intensity vs total emissions

To get a sense of the company’s operational capabilities to decarbonize, the report measures emissions intensity, or emissions per unit of energy generated. Total emissions will tend to favor larger producers, while emissions intensity will not.

In terms of total greenhouse gas emissions intensity for the 303 companies, Hilcorp Energy ranks 128th, ConocoPhillips ranks 191st and Exxon ranks 238th.

There is a marked divergence between the companies with the highest and lowest emissions intensity. For example, the emissions intensity of natural gas producers in the top quarter of methane emitters is nearly 24 times higher than that of natural gas producers in the bottom quarter, according to the report.

“Oil and gas producers are not equal when it comes to methane emissions, and this research clearly shows that a company’s climate impact is a direct result of operational decisions under its control,” said Andrew Logan, Senior Director of Oil and Gas at Ceres, in a written statement released alongside the report. “Companies most able to effectively minimize their own emissions will be best prepared for a future zero-emissions economy.”

The Oil and Gas Industry Trade Group American Petroleum Institute (API) declares the companies it represents, including Exxon and Conoco Phillipsare working to reduce methane emissions and found a drop in the average intensity of methane emissions of almost 60% in seven of the main producing regions (listed here).

“Our industry is at the forefront of data collection and advancing and using advanced technologies, including remote monitoring with satellites and lasers, to detect and reduce methane emissions and any suggestion to the contrary is false” , an API spokesperson told CNBC on Thursday. .

Hilcorp Energy told CNBC it has made improvements since 2020.

“The most recent data used in this year’s CERES report is from 2020 and does not reflect ongoing reductions made by Hilcorp since 2020. Based on Hilcorp’s gross and operated emissions as reported to the EPA and the gross and operated oil and gas production at the wellhead, Hilcorp’s GHG intensity decreased by approximately 37% from 2019 to 2020 with further reductions since,” spokesperson Nick Piatek told CNBC.

Additionally, Hilcorp said its emissions data was higher than its production data due to the nature of its business development strategy, which focused on acquiring older businesses.

“As we inherit the emissions profiles of the assets we acquire, we spend substantial capital to optimize, upgrade and refurbish equipment to reduce the emissions and intensity of these acquired assets,” said the gatekeeper. -word.

Exxon told CNBC that emissions intensity is the metric it focuses on, “because it’s the most accurate reflection of how manufacturing companies are reducing the greenhouse gases associated with each unit of production. “, spokesperson Casey Norton told CNBC.

Exxon has worked to “rapidly reduce methane emissions” by finding leaks and making repairs.

“This includes monitoring aerial overflights in addition to hand-held imaging cameras. We are also expanding our use of ground-based sensor technology for continuous methane detection and are working with Scepter, Inc. to deploy advanced ground-based monitoring technology. satellite,” Norton told CNBC. .

ConocoPhillips also said it sees emissions intensity as a more accurate measure of its focus on decarbonization work. “Due to the size of our business, we rank high in absolute emissions rankings, but intensity metrics allow for better comparison between companies and better reflect operational practices,” a spokesperson told CNBC. .

Acorn Energy, Inc. (OTCMKTS:ACFN) Short Interest Up 2,200.0% in June

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Acorn Energy, Inc. (OTCMKTS: ACFN – Get Rating) saw significant growth in short-term interest in the month of June. As of June 30, there was short interest totaling 4,600 shares, a growth of 2,200.0% from the total of 200 shares as of June 15. Based on an average daily trading volume of 46,700 shares, the short-term interest rate ratio is currently 0.1 day.

Acorn Energy stock opened at $0.53 on Thursday. The company has a fifty-day simple moving average of $0.49 and a 200-day simple moving average of $0.52. Acorn Energy has a 1-year minimum of $0.26 and a 1-year maximum of $0.70.

Acorn Energy Company Profile (Get an assessment)

Acorn Energy, Inc, through its subsidiaries, develops and markets wireless remote monitoring and control systems for various markets in the United States and abroad. It operates through two segments, Power Generation (PG) Monitoring and Cathodic Protection (CP) Monitoring. The PG segment provides wireless remote monitoring and control systems and services for critical assets, which include emergency power generators, compressors, pumps, pumping jacks, light towers, turbines and other industrial equipment; and Internet of Things applications.

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Replacing power at four Washington state dams would cost billions, report says | 2022-07-13

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Replacing power at four Washington state dams would cost billions, report says | 2022-07-13 | News-Record Engineering
















MHI Thermal Systems receives T

— Awards Presented by Japan Heat Pump and Thermal Storage Technology Center —

– “MSV2” Air-Cooled Heat Pump Chillers Receive President’s Award in Machinery & Equipment Category
– Aquifer Thermal Energy Storage System (ATES) Receives Promotion Award in Integrated Systems Category
– Leadership in air conditioning and refrigeration systems attested by the receipt of 4 awards in 2021

TOKYO, June 3, 2022 – (JCN Newswire) – Mitsubishi Heavy Industries Thermal Systems, Ltd. (MHI Thermal Systems), part of Mitsubishi Heavy Industries (MHI) Group, received accolades in two categories of the 2022 “Demand Side Management Awards” competition sponsored by the Heat Pump & Thermal Storage Technology Center of Japan (HPTCJ), an organization that promotes the adoption of heat pumps and thermal storage systems by awarding prizes for particularly exceptional technologies that contribute to the leveling of the electrical load. “MSV2” series of high-efficiency air-cooled heat pump chillers adopting “e-3D scroll” compressor (1) received the HPTCJ President Award in Machinery and Equipment category, and Innovations in Machinery and Equipment. company’s plant heating system and cooling system using an aquifer thermal energy storage system (ATES)(2) received the HPTCJ Promotion Award in the Systems category integrated.

Low_DemandSideManagementAwardsCeremony.jpg
Demand Management Awards Ceremony

The MSV2 heat pump chillers, which were launched in the Japanese domestic market to meet the growing refrigeration load demand, were highly praised by HPTCJ for their contribution to electric load leveling. Because they can be installed in multiple units through modular connection, exceptional energy saving proposals can be offered to accommodate various thermal loads. Earlier, MSV2 was awarded the 2020 Energy Conservation Grand Prize sponsored by the Energy Conservation Center, Japan (ECCJ) and supported by the Ministry of Economy, Trade and Industry .

The ATES system, an air conditioning system that uses unused stored geothermal heat, has won numerous accolades for its proven significant energy savings and potential environmental performance to maintain a zero underground heat balance over a full year. The system is in service at MHI Thermal Systems Kobe Works, located on the grounds of MHI Kobe Shipyard & Machinery Works. The HPTCJ award marks the system’s third commendation, following receipt of the 2019 Environmental Award from the Japan Society of Civil Engineers and the 2021 ECCJ Grand Prize for Energy Conservation.

MHI Thermal Systems is a market leader in air conditioning and refrigeration equipment, with products and technologies that meet contemporary needs. The importance of the company was demonstrated again last year with the receipt of a total of four awards for innovative technologies that contribute to energy conservation and environmental protection. Now, with the addition of the two HPTCJ awards, we renew our strong commitment to developing products and technologies that will help the world save energy. By leveraging our collective technological capabilities enabled by our group-wide product synergies, we will strive ever more vigorously to achieve optimal thermal solutions to meet the diverse needs of our customers.

(1) For more information:
www.mhi.com/news/191225.html
www.mhi.co.jp/technology/review/pdf/e572/e572140.pdf
(2) ATES makes it possible to use unused sustainable thermal energy. For more information:
www.mhi.com/news/211222.html

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defence. MHI Group combines cutting-edge technology with deep experience to deliver innovative integrated solutions that help achieve a carbon-neutral world, improve quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories at spectra.mhi.com.

Source: Mitsubishi Heavy Industries, Ltd.

Copyright 2022 JCN Newswire. All rights reserved.

Hydro-Québec sees fewer obstacles to New York exports than the Maine project

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“But it’s our job to be proactive. We don’t take anything for granted,” says the chief operating officer of Hydro-Québec Energy Services.

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Hydro-Québec’s plan to deliver electricity in New York State should not encounter the same obstacles as an interconnection line in Maine, according to Serge Abergel, chief operating officer of its subsidiary. American Hydro-Quebec Energy Services.

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One reason is that New York state doesn’t have a referendum process that could stall the project, like Maine did last year, Abergel said in an interview in Montreal, where he made a presentation Tuesday at the Conference of Montreal. He noted that the New York project has all necessary permits for construction and is expected to be in service in 2025.

But Abergel is not yet claiming victory. “I have concerns for all the projects,” he said. “I want to be clear: it’s not because there is a particular threat, but it’s up to us to be proactive. We take nothing for granted. »

The project, which is expected to generate $20 billion in revenue over 25 years and provide the equivalent of one million homes with electricity, has strong support from communities suffering from the effects of fossil fuel-related air pollution that New York State wants to replace with clean energy. energy sources, Abergel said.

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For example, thermal power plants around New York create pollution, especially in Queens and Manhattan, with some areas dubbed “Asthma Alley.”

“It’s the place in the United States with the highest rate of asthma due to local air pollution,” Abergel said in his presentation. “People have stepped up and said they’ve had enough of this environmental discrimination.”

The fate of the Maine project is still uncertain. The 336 kilometer project that would cross Quebec and Maine to provide electricity to Massachusetts was rejected by 59% of Maine citizens who voted in a referendum in November. Maine’s Supreme Court is expected to rule on a constitutional challenge to the referendum. In the meantime, work is suspended.

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The court is also set to rule on another permit challenge for a 1.6-mile segment of the line, after a Maine Superior Court judge ruled the permits invalid.

Hydro-Quebec expects decisions by the end of July on both, and Abergel hopes to win both.

“We will let the court make its decision, but we are convinced that a project which obtained its permits with a four-year process deserves to move forward.

Hydro-Quebec’s partner in Maine, New England Clean Energy Connect, has already spent nearly US$450 million, or about 43% of projected costs, according to court filings. If the project is abandoned, Hydro-Québec estimates that it will have to write off $536 million from its net income.

The Massachusetts contract would bring in $10 billion in revenue over 20 years to Hydro-Quebec and reduce greenhouse gas emissions by three million metric tons, the equivalent of taking 700,000 cars off the road.

No backup plan has been identified to bring electricity to Massachusetts.

  1. A vehicle took the jackpot during Saturday's storm in Morin Heights.

    Storms that ravaged Quebec in May cost Hydro $70 million in repairs

  2. The agreement will see the buildings converted to dual energy and, in exchange, Hydro-Québec will compensate Énergir for the loss of revenue.

    The regulator approves the agreement between Hydro-Québec and Énergir

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On the road to COP27: making the case for Africa in the global climate debate – World

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Attachments

On the road to COP27: making the case for Africa in the global climate debate

15 recommendations from the Ibrahim Governance Forum call on climate leaders to take urgent action to make the case for Africa ahead of COP27

Following the Ibrahim Governance Forum held May 25-27, the Mo Ibrahim Foundation publishes the full report of the Ibrahim Forum 2022 which now includes key findings and recommendations from the debates.

Download: Ibrahim Forum Report 2022
*Dakar and London, July 12, 2022 *– The Ibrahim Forum 2022 final report, ‘*The Road to COP27: **Making Africa’s Case in the Global Climate Debate’, *presents key facts and figures and 15 recommendations on the how policymakers, climate leaders and African citizens can articulate Africa’s case in the global climate debate.

The report is based on the latest reports from the Mo Ibrahim Foundation to researchand on the essential arguments put forward during the 2022 Ibrahim Forum on Governancedebates between experts, political decision-makers and young Africans for three days.

Commenting on the final 15 recommendations, Mo Ibrahim, Founder and Chairman of the Mo Ibrahim Foundation, said, “It is clear that the current climate agenda is failing in Africa. With over 600 million people in Africa still without access to electricity, twice the total population of the United States, we need to pause and think very hard.”

“As we approach COP27, we must not repeat the error of neglecting the African specificity, both negative and positive, in the assessment of the challenges and the choice of solutions. The recommendations put forward in this report offer a framework for reshape the climate debate, ensure it takes into account the specific African context and recognizes Africa’s key role in global climate solutions.

Bringing together the latest and most relevant data and insights from leading climate and energy experts and practitioners, the Ibrahim Forum 2022 report provides a comprehensive analysis of the specificity of Africa’s context in the global debate. on climate: how the impacts of the climate crisis in Africa intersect with pre-existing social and development issues; the challenge of balancing energy access and climate protection; and last but not least, Africa’s key assets and its potential role in a global low-carbon future.

The report concludes with a series of recommendations from the debates of the Ibrahim Governance Forum to inform the preparatory work and decisions for COP27, as well as any other global climate debate leading up to COP27 and beyond. By considering these recommendations, policymakers can ensure that future climate commitments take into account the specific context of the continent, including Africa’s economic development path, and recognize the important role the continent can play in worldwide.

Key recommendations include:

● Take into account Africa’s specific climate vulnerabilities

  1. Don’t work in silos: address the interplay between climate, development and security challenges: Climate change has a major impact on pre-existing development and security issues. Globally, debates and decision-making on development, climate change and conflict continue to take place in silos, missing opportunities to address how these challenges intersect.

  2. Mitigation alone cannot solve the scale of the problem: put more emphasis on adaptation and “loss and damage” compensation: Mainly driven by the North, the current global climate debate has now focused on mitigation, primarily by achieving net zero emissions. Adaptation measures have been deprioritized while no ad hoc “loss and damage” fund has yet been set up.

  3. Invest in resilience to prevent loss and damage to lives, livelihoods and critical infrastructure: African countries must put in place clear adaptation investment plans, prioritizing investments in climate change systems. early warning, disaster risk reduction and climate resilient infrastructure. This includes increasing data capacity.

● Address the right of Africans to access to energy

  1. Net Zero Balance, Energy Access and Energy Security: Global Development Goals cannot be achieved until more than 600 million people still lack access to energy in Africa, a number that is expected to continue to rise .

  2. Consider gas as a key transition fuel, to be developed alongside renewables: Renewables are already the main source of electricity for almost half of Africa, and have great potential for expansion, but they alone will not be enough to close the continent’s energy deficit. Gas, an abundant resource in Africa and the cleanest fossil fuel, must be included to fill the energy access gap on the continent.

  3. Whether it’s gas or renewables, look beyond just production: Whether it’s gas or renewables, production is only the first challenge. Storage, transmission and distribution infrastructure, affordability, relevant market sizes, maintenance capabilities must also be taken into account to attract the necessary investments and meet the access challenge.

  4. Clean cooking solutions are essential for climate and health goals: replacing polluting cooking fuels such as firewood or charcoal with cleaner gas (LPG) or electricity is essential view of health and climate. However, a transition to clean cooking fuels must be a bottom-up process and take into account local contexts.

● Harnessing Africa’s potential in a global green economy

  1. Raise awareness of Africa’s strengths and ability to be a key player in a global green economy – not just a victim of the climate crisis: assess Africa’s enormous potential wealth in green and sustainable economies. Build and harness Africa’s collective bargaining power as the key sovereign owner of ecosystems and assets that are essential for a low-carbon future globally.

  2. Assess – and monetize – Africa’s carbon sequestration potential: The continent is not only the lowest carbon emitter per capita, but also hosts the major carbon sinks. African countries should be duly compensated for preserving these global assets, including through carbon storage pricing.

  3. Avoiding the “resource curse”: improving the value chain and putting governance first: moving from the export of raw materials to local processing, in order to develop local activities and employment. Define relevant measures to avoid corruption, ecological disasters, human rights violations and resource conflicts, and include them from the beginning in the management of Africa’s ecological and mining assets

● “You don’t get what you need or deserve, you get what you bargain for”

  1. Define, present and negotiate a common African position: Africa must be on par with other global players at COP27. African leaders can define a common narrative for international negotiations because Africa’s position cannot be reduced to the specific situation of one or two countries.

  2. Rebuilding trust lost at previous summits: Africa’s partners should implement commitments that have already been made at previous summits before committing to new ones.

  3. Focus on responsibilities: The link between carbon emissions and the climate crisis must be recognized and monetized. Adaptation and loss and damage mechanisms must be fully implemented so that the largest emitters take responsibility for the climate crisis.

  4. Adopt a wide range of integrated and innovative financial solutions: Address the climate-debt nexus and increase Africa’s domestic resource mobilization, leveraging pension and sovereign funds and strengthening fiscal systems.

  5. Humanize the climate debate: The climate debate must highlight the impact on people’s daily lives and livelihoods. “Climate literacy” must be developed. Local contexts and solutions must be leveraged.

Note to Editors

About the Ibrahim Governance Forum

The Ibrahim Governance Forum was held from 25-27 May 2022 and focused on highlighting African perspectives on the challenges and opportunities presented by the climate crisis in Africa.

Speakers and contributors included:

● Jin-Yong Cai, former CEO of the International Finance Corporation

● Ibrahima Cheikh Diong, United Nations Under-Secretary-General, Director of the African Risk Management Group

● Yasmine Fouad, Minister of Environment of the Arab Republic of Egypt

● Chris Gentle, Senior Advisor New Business Ventures, World Energy Council

● Kristalina Georgieva, Managing Director of the International Monetary Fund

● Mamadou Fall Kane, Energy Advisor to the President of the Republic of Senegal

● David Malpass, President of the World Bank Group

● Amina Mohammed, United Nations Under-Secretary-General

● Mahmoud Mohieldin, United Nations High Level Champion on Climate Change for Egypt

● Murithi Mutiga, Africa Program Director of the International Crisis Group

● Mary Robinson, President of Elders

● HE President Macky Sall, President of the African Union and President of the Republic of Senegal

● Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa

● Sidi Ould Tah, Managing Director of the Arab Bank for Economic Development

● Samaila Zubairu, CEO of Africa Finance Corporation

● Members of the Foundation’s Now Generation Network, a cohort of over 250 young African leaders

All sessions are now available to watch on demand, via MIF.Live.

Contact

For more information or to request an interview, please contact:

● MIF Media Team, [email protected], +44 7796 451915

You can follow the Mo Ibrahim Foundation on:

● Twitter: @Mo_IbrahimFdn

● Facebook: https://www.facebook.com/MoIbrahimFoundation

● YouTube: https://www.youtube.com/user/moibrahimfoundation

●Instagram: https://instagram.com/moibrahimfoundation

● Website: mo.ibrahim foundation

About the Mo Ibrahim Foundation

The Mo Ibrahim Foundation was established in 2006 with a focus on the critical importance of political leadership and public governance in Africa. By providing tools to assess and support progress in leadership and governance, the Foundation aims to promote meaningful change on the continent.

The Foundation, which is a non-granting organization, focuses on defining, measuring and improving governance and leadership in Africa through various key initiatives:

Ibrahim Index of African Governance

Ibrahim Award for Achievements in African Leadership

Ibrahim Governance Weekend

Ibrahim Scholarships and Fellowships

Now Generation Network

Earthstone Energy, Inc. (NYSE: ESTE) receives consensus price target of $22.67 from analysts

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Earthstone Energy, Inc. (NYSE:ESTE – Get Rating) shares earned a consensus “Hold” recommendation from the nine brokerages that currently cover the stock, MarketBeat Ratings reports. One investment analyst rated the stock with a sell recommendation, three assigned a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among brokerages that have covered the stock over the past year is $23.00.

Several analysts have recently commented on the stock. Royal Bank of Canada has upgraded Earthstone Energy’s shares from an “outperforming” rating to an “sector outperforming” rating and has set a price target of $21.00 for the company. in a report on Wednesday July 6. StockNews.com moved shares of Earthstone Energy from a “buy” rating to a “hold” rating in a report on Friday, May 13. TheStreet upgraded Earthstone Energy shares from a ‘b’ rating to a ‘c+’ rating in a Tuesday, May 24 report. Wells Fargo & Company raised its price target on Earthstone Energy shares from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Stephens began covering Earthstone Energy shares in a research note on Wednesday, April 13. They issued an “equal weight” rating and a target price of $15.00 for the company.

Earthstone Energy stock opened at $11.94 on Friday. The company has a debt ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $1.35 billion, a P/E ratio of 62.84 and a beta of 2.19. The company’s 50-day simple moving average is $16.08 and its 200-day simple moving average is $14.20. Earthstone Energy has a fifty-two week low of $7.01 and a fifty-two week high of $22.25.

Earthstone Energy (NYSE:ESTE – Get Rating) last released its quarterly results on Wednesday, May 4. The oil and gas producer reported EPS of $0.78 for the quarter, beating the consensus estimate of $0.56 by $0.22. The company posted revenue of $196.10 million in the quarter, compared to $166.65 million expected by analysts. Earthstone Energy had a net margin of 1.45% and a return on equity of 16.38%. The company’s quarterly revenue increased by 159.4% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.17. On average, analysts expect Earthstone Energy to post EPS of 4.61 for the current fiscal year.

Separately, Chief Financial Officer Mark Lumpkin, Jr. sold 30,000 shares of the company in a trade on Thursday, April 21. The shares were sold at an average price of $16.47, for a total transaction of $494,100.00. Following the transaction, the CFO now owns 208,253 shares of the company, valued at $3,429,926.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, director Jay Frederick Joliat purchased 20,237 shares of the company in a transaction that took place on Wednesday, July 6. The shares were purchased at an average cost of $11.66 per share, for a total transaction of $235,963.42. Following the transaction, the director now directly owns 90,000 shares of the company, valued at approximately $1,049,400. Disclosure of this purchase can be found here. 3.80% of the shares are currently held by insiders.

A number of hedge funds have recently changed their positions in ESTE. Ameritas Investment Partners Inc. increased its position in Earthstone Energy by 44.7% during the first quarter. Ameritas Investment Partners Inc. now owns 2,393 shares of the oil and gas producer worth $30,000 after acquiring 739 additional shares during the period. Amalgamated Bank bought a new stake in Earthstone Energy in Q1 worth $41,000. Ellevest Inc. increased its stake in Earthstone Energy by 130.1% in the fourth quarter. Ellevest Inc. now owns 4,056 shares of the oil and gas producer valued at $44,000 after purchasing an additional 2,293 shares during the period. Sigma Planning Corp bought a new stake in Earthstone Energy in the 4th quarter at a value of $114,000. Finally, Captrust Financial Advisors increased its stake in Earthstone Energy by 17.6% in the 1st quarter. Captrust Financial Advisors now owns 9,184 shares of the oil and gas producer valued at $116,000 after buying 1,375 additional shares during the period.

Earthstone Energy Company Profile (Get a rating)

Earthstone Energy, Inc, an independent oil and gas company, is engaged in the acquisition, exploration, development and production of oil and gas properties in the United States. The Company’s portfolio of assets includes the Midland Basin of West Texas, the Delaware Basin of New Mexico and the Eagle Ford Trend of South Texas.

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The house of the future could never let your smartphone battery die

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A die the most mundane mistakes I make can derail my day: I go to bed, I brush my teeth and I forget to charge my smartphone. I wake up to a phone with 20% battery, no time to charge it before I have to rush out the door and take a long subway ride where I answer my emails as I go. measure. By the time I’m in the office, my phone is almost dead – and I forgot my charging cable.

Surely there is a better way. And luckily, scientists from Kookmin University and the Kumoh National Institute of Technology in South Korea agree. In a recent study published in ACS Nanoa team of researchers lays out their vision of a future where households can charge their electronic devices simply by leaving them lying around the kitchen.

I would probably feel that accomplished if I could also charge my phone just by putting it down.Tim Scott/Moment/Getty Images

What’s new – Specifically, the researchers developed a way to exploit the granite and marble countertops found in some (well-appointed) kitchens to serve as extremely convenient charging stations for smartphones, watches, and other devices. .

They’ve designed tiny supercapacitors that coat even slightly porous stone surfaces, like those found in kitchens. They then superimposed their innovation on marble and fired a laser at it to charge the device. Not only did it do a good job of conserving power, but it maintained performance even after 4,000 charge-recharge cycles. By stacking these devices on a kitchen counter and introducing a power supply, one could build a full-scale charging area in their home, or perhaps a charging wall, or even a stone bench.

The researchers say their innovation “represents a class of ubiquitous, low-cost, environmentally friendly and recyclable energy storage interface for sustainable development and easily accessible. [energy storage solutions].”

It should be noted that the researchers conducted a rather amusing test of their system: “The proposed energy system also underwent a series of rigorous mechanical reliability tests, including being stepped on with shoes, intensive crushing on the floor and repetitive hammer blows.”

There’s no telling if it stands up to the inevitable kitchen nightmare: spills.

Read the full study.

The LHC.EThamPhoto/The Unpublished Image Bank/Getty Images

On the horizon: new physics at the LHC

The Large Hadron Collider is essentially a long, very high-tech tunnel buried under the Franco-Swiss border. With 27 kilometers in circumference, the LHC is the largest particle collider in the world. And after a years-long hiatus for maintenance, it’s back online and discovering new particles left, right and center.

Want to get to know each other better? Read our story about the LHC and what is perhaps its most famous discovery to date, the Higgs boson. Discovered ten years ago on July 4, 2012, we revisit this defining moment in the world of fundamental physics.

Giulia Zanderighi is head of a particle physics group at the Max Planck Institute for Physics and co-author of a perspective published this week in Nature on the occasion of Higgs’ birthday. She said Reverse that CERN’s research on the Higgs boson is always at the forefront of scientific knowledge.

“Each time a measurement becomes more precise, we can refine the allowed models of new physics,” says Zanderighi. “So we are getting closer to determining possible physics beyond the Standard Model.”

Go further.

We can’t wait.Shutterstock

Here’s what else we read…

Members of the Joseph Russillo Ballet Company, including Russillo (center) performing an original ballet, ‘LSD’, New York, New York, February 1967.Jack Mitchell/File Photos/Getty Images

Beyond the horizon…

Michael Pollan, a popular health and wellness author, presents a new documentary on Netflix about psychedelics, titled How to change your mind. The show premieres Tuesday, July 12.

Covering LSD and mescaline, among other psychoactive substances, Pollan promises an in-depth look at the science behind how these drugs might affect the brain and how they might be harnessed for medical treatments.

The environmental sector continues to grow in importance

The environmental sector is made up of private companies and public entities that produce goods and services aimed at protecting the environment and managing natural resources. Environmental protection activities include, for example, measuring, preventing and repairing environmental damage caused by air, water and soil pollution. The management of natural resources includes the production of energy and CO savings2– reducing technologies, products and services, such as the production of renewable energy, electric transport and insulation works.

The share of the environmental sector in the Dutch economy has increased steadily, from 1.7% in 2001 to 2.6% in 2021. The share of activities related to natural resource management has doubled over the past two decades. This increase is closely linked to the energy and climate transition. The share held by activities aimed at preserving natural resources experienced limited growth over the period 2001-2010, ie 0.2 percentage point.

Environmental sector, gross value added
2001 1.13 0.52
2002 1.15 0.53
2003 1.20 0.52
2004 1.16 0.53
2005 1.11 0.55
2006 1.15 0.57
2007 1.16 0.57
2008 1.18 0.63
2009 1.22 0.62
2010 1.31 0.63
2011 1.31 0.73
2012 1.29 0.71
2013 1.31 0.75
2014 1h30 0.88
2015 1h30 0.92
2016 1.33 0.94
2017 1.35 1.01
2018 1.34 1.01
2019* 1.38 1.07
2020* 1.38 1.21
2021* 2.6
* Provisional figures. For 2021, only an estimate for the total environmental sector.

Renewable energy employment continues to grow

Renewable power generation and energy conservation provided more than 72,000 FTEs in 2020, up from 40,000 in 2011. However, there are differences between the businesses. The biggest increase can be seen in solar energy, especially the installation of solar panels. Employment related to this activity has multiplied more than eleven times between 2011 and 2020. Employment related to wind power has doubled over the same period. Employment related to heating, geothermal energy and hydroelectricity remained virtually the same.

Employment in renewable energies
2008 21.6 1.4 1.8 2.9 3.0
2009 21.4 1.5 2.0 3.0 3.4
2010 22.3 1.6 2.3 3.2 3.6
2011 27.4 1.7 2.8 4.0 3.9
2012 24.5 1.6 4.2 3.9 4.0
2013 24.8 1.6 5.6 4.1 4.0
2014 25.3 1.6 5.3 4.9 4.7
2015 26.5 1.5 6.7 5.5 3.7
2016 30.0 1.8 7.5 4.6 3.6
2017 31.4 1.9 9.0 4.8 3.6
2018 26.4 2.0 16.9 5.7 3.8
2019 24.6 2.4 24.2 6.6 3.9
2020* 27.4 2.9 30.9 7.2 4.2
* Provisional figures

Size of Dutch environmental sector equal to EU average

In 2019, the contribution of environmental activities to GDP amounted to 2.3% on average in the European Union. It was pretty much the same in the Netherlands. The environmental sector is relatively the largest in Finland, Estonia and Austria, with respective shares of 5.8%, 4.6% and 4.2% of GDP. These countries have high levels of renewable energy production; management of forest areas is also a relatively large contributor to GDP. At the bottom of the ranking were Ireland (0.9%), Malta (1%) and Belgium (1.1%).

Gross value added of the environment sector in the EU, 2019
Finland 5.8
Estonia 4.6
Austria 4.2
Sweden 3.5
Denmark 3.4
Bugaria 2.8
Romania 2.8
Luxemburg 2.8
Lithuania 2.7
Latvia 2.6
Poland 2.6
European Union* 2.3
Netherlands 2.3
Portugal 2.3
Czech Republic 2.3
Spain 2.3
Germany 2.0
Italy 1.9
France 1.8
Slovenia 1.6
Croatia 1.4
Belgium 1.1
Malta 1.1
Ireland 0.9
* European Union excluding United Kingdom

Microsoft data centers to support renewable energy growth on the power grid

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Strong points :

  • Microsoft will deploy its “grid-interactive uninterruptible power supply technology” in the Dublin data center to demonstrate that these types of technologies can help decarbonize power grids around the world.
  • Microsoft says a large swing in power generation requires grid stabilization services, and its grid-interactive UPS technology allows facilities such as data centers to feed power back into the grid from of their backup energy storage systems.

Global software giant Microsoft has announced that it will deploy its “grid-interactive UPS technology” in the company-managed data center in Dublin, Ireland, later in 2022. The aim is to demonstrate that these types of technologies can help decarbonize power grids around the world.

Microsoft claims that renewable energy from 400 wind farms accounts for more than 35% of Ireland’s electricity supply. This capacity will reach 80% by the end of this decade. The tech giant says a large swing in power generation requires grid stabilization services and its grid-interactive UPS technology allows facilities such as data centers to feed back some of the power into the grid from their backup energy storage systems. Energy storage systems are actually large banks of lithium-ion batteries that are managed by a UPS system, Microsoft said.

Christian Belady, vice president of Microsoft, said: “We have this battery asset in the data center which is right there. Why not offer it to the network and find a dynamic way to manage it as a dual-use asset and thus promote greater efficiency and better use of assets? »

Microsoft said it was working closely with EirGrid, which is Ireland’s electricity grid operator. The entity manages a network services market that favors non-carbon-emitting solutions. Microsoft is entering this market through Enel X, an energy service provider. Enel X turns industrial and commercial organizations such as Microsoft into “virtual power plants” on power grids.

This system was not possible with traditional technologies such as lead-acid batteries. UPS systems and lithium-ion batteries have created new possibilities. At the same time, UPS systems need to be smart enough to interact with the power grid as well as data center energy management systems, as this will help coordinate the flow of electricity.

Microsoft also said grid-interactive UPS systems instead of the grid services currently provided by fossil-fuel power plants in Ireland will help eliminate carbon dioxide emissions by 2 million metric tons. The software company says this represents around 20% of the emissions the Irish power sector is expected to generate by the middle of this decade.

Macquarie is seeking funds to create an electric vehicle rental company

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NEW DELHI : Macquarie Group, one of India’s largest foreign infrastructure investors, is in talks with commercial investors to raise $205 million to establish an electric vehicle (EV) leasing and financing company, say two people familiar with the development.

The India-focused e-mobility finance platform will be managed by Macquarie Asset Management, which manages assets of around A$773.1 billion. It will strive to reduce the up-front capital expenditure required for the push towards green mobility. Under its plan, Macquarie, which has secured $200 million in commitments from South Korea’s Green Climate Fund, will start with the electric mobility funding platform for electric buses, shared fleets and electric vehicle charging infrastructure.

“Macquarie aims to raise an additional $205 million from institutional investors to capitalize the platform, and over time the platform hopes to raise approximately $1.5 billion in capital (including debt funding),” according to the Macquarie website.

It comes amid state-run Convergence Energy Services Ltd (CESL) announcing the price uncovered in a tender for 5,540 electric buses for five cities – the lowest on record, and nearly on par with diesel bus operating costs. In what could help accelerate India’s ambitious plans for green mobility, prices for electric vehicles should soon be on par with those of internal combustion engine (ICE) vehicles.

“Macquarie is leading the development of a blended finance platform, with the United Nations’ Green Climate Fund (GCF), to drive adoption of electric vehicles across India, helping to reduce carbon emissions. CO2 emissions and improve urban air quality,” according to Macquarie.

Macquarie and its managed funds are overseeing investments in 12.4GW of green power capacity in India and have so far invested $2.5bn.

A spokesperson for Macquarie declined to comment on the specific question regarding ongoing talks to raise capital.

Energy Efficiency Services Ltd (EESL) runs the government’s ambitious Faster Adoption and Manufacture of Hybrid and Electric Vehicles (FAME 2) program for electric three-wheelers and buses. The money will be spent to subsidize 500,000 electric three-wheelers, 1 million electric two-wheelers, 55,000 electric passenger vehicles and 7,090 electric buses.

“Initially, the platform will focus on selected segments of the electric vehicle ecosystem, such as electric buses, shared fleets and charging infrastructure, and will expand to other subsectors. electric mobility as the market evolves. In doing so, the platform also aims to contribute to an enabling environment for the growth of electric vehicles, resulting in increased penetration of electric vehicles and new market players, including the growth of financing solutions and domestic manufacturing, and helping to reduce air pollution in urban environments,” Macquarie said on its website: “With an implementation period of 10 years, the platform is expected to deliver a lifetime reduction of approximately 9 .5 MtCO2e of greenhouse gas emissions.”

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Ducati e-bikes unveiled as company pushes further into e-bike space

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Ducati may not have a consumer electric motorcycle yet (and barely have a racing electric motorcycle, for that matter), but the company can’t stop churning out smaller two-wheeled electric vehicles. Example: Ducati has just unveiled two new folding electric bikes.

Both e-bike models were released under Ducati’s Scrambler brand, which has become a heavyweight lifestyle brand in recent years.

Ducati has used it before to fold e-bikes and seems to be sticking to its guns with the latest models unveiled recently.

The new SCR-X and SCR-E GT are both fat tire folding e-bikes that use a Bafang 60Nm rear hub motor for power.

The 48V system on both bikes is usually associated with higher power, but the EU-based company was forced to limit the speed of the e-bikes to just 25 km/h (15 mph) to comply with local regulations on e-bikes.

The SCR-E GT is more road oriented and comes with 20″ road tires matched to wire wheels.

A 500Wh battery is claimed to provide an 80km range and is removable for charging off the bike. Considering the pedal-assist nature of these e-bikes, this is probably a reasonable range.

Ducati SCR-X Electric Bike

The SCR-X, on the other hand, is the most trail-oriented e-bike of the lot.

While both bikes come with front suspension, the SCR-E GT features rear suspension, knobby tires and mag rims that should perform better in more aggressive off-road riding conditions.

A larger battery with a capacity of 614 Wh will also offer more stored energy, which is important for e-bikes used in tougher off-road conditions that often require more battery power.

The SCR-X adopts a stepper frame that will make it easier for riders to get on the bike without swinging a leg over the high saddle, while the SCR-E GT uses a stepper frame instead.

Riders should expect the two new models to be available later this month at Ducati dealerships and online, although the company has yet to reveal pricing details.

ducati electric bikes
Ducati SCR-E GT Folding Electric Bike

These two new models follow several of Ducati’s entries into the e-bike market.

The motorcycle company first rolled out an electric mountain bike in 2018 through a partnership with THOK Bikes, marking the company’s first electric two-wheeler.

At the time, Ducati was teasing an electric motorcycle in its future, but was still looking for excuses as to why the company wouldn’t be able to develop one for many years.

The company followed with several more e-MTB models in 2019.

In 2020 Ducati was toying with electric folding e-bikes and produced a number of interesting models with relatively new features such as in-frame lighting.

Ducati continued to release new e-MTBs in 2020, improving the performance and quality level of e-bikes.

In early 2022, the company launched its first electric road bike designed for consumers of high-end racing bikes. The bike also came with a Ducati-sized price tag, asking for a hefty €7,690 (about US$8,020).

Ducati Futa electric road bike

Ducati may have made more headway on the e-bike front than it has in its e-motorcycle division, but the latter has also been in the news lately.

Earlier this month, Ducati unveiled the specifications of its V21L electric racing motorcycle prototype which will become the only model used in the FIM MotoE racing series next season.

Ducati has confirmed that it will produce at least 18 of the bikes for the 2023 season of the FIM MotoE racing series. Each of the V21L electric motorcycles will be capable of producing 110 kW (147 hp) and 140 Nm (103 lb-ft) of torque.

The bike is said to have reached a top speed of 275 km/h (171 mph) on a test circuit in Mugello, Italy.

Despite carrying a fairly large 18 kWh battery, Ducati was able to bring the weight of the V21L prototype down to just 225 kg (496 lb). It’s still a heavy bike, but it weighs a lot less than the 282 kg (621 lb) Energica Ego electric motorcycle it will replace from the 2023 season.

While Ducati may have spent years dragging its feet on two-wheeled electric vehicles, it’s hard to argue that the company isn’t catching up with a series of big unveilings. What do you think of Ducati’s progress in electric vehicles? Let’s hear your thoughts in the comments section below!

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Renewables remain the cheapest, but cost reductions are on hold

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Renewables remain the cheapest new power generation option in Australia, although inflation and supply chain disruptions are likely to put cost cuts on hold for next year, according to the annual GenCost report PDF (2 MB) of CSIRO.

Each year, Australia’s national science agency CSIRO and the Australian Energy Market Operator (AEMO) work with industry to provide an up-to-date estimate of the costs of large-scale electricity generation in Australia.

The report considers a range of future scenarios to understand the mix of technologies that can be adopted and the costs for each of these possible pathways.

The 2021-22 report confirms previous years’ findings that wind and solar are the cheapest source of electricity generation and storage in Australia, even taking into account the additional integration costs resulting from generation renewable energy variable, such as energy storage and transmission.

According to CSIRO Director General Dr. Larry Marshall, the detailed scientific and technical analysis reported in GenCost provides important electricity market insights, helping industry and government navigate the country’s energy transition. Australia.

“Australia’s energy sector faces a number of unique challenges as we navigate the transition to net zero emissions. GenCost is a rigorous analysis to help inform decision makers with detailed information to support the decarbonisation of Australia’s energy system.

“The latest report shows that renewable energy remains the cheapest source of electricity for new construction.

“With the world’s highest penetration of rooftop solar, unique critical energy metals, a world-class research sector and a highly skilled workforce, Australia can turn our challenges into the huge opportunity to be a global leader in renewable energy,” he said.

The report’s projections assume that cost reductions for all technologies will stagnate over the next 12 months as tight global supply chains take longer to recover from the pandemic.

However, after the current inflationary cycle is over, solar, wind and batteries should all continue to be cheaper.

CSIRO chief energy economist Paul Graham said researchers have seen year-on-year cost reductions for most technologies and this year’s report was no exception. .

“What will be different next year is that we will have a confluence of factors impacting project costs. the economy through transportation and energy costs. We also have tight supply chains that are still recovering,” he said.

The 2022 final report also includes an update on the costs of hydrogen electrolyzers which are experiencing rapid cost reductions and could support a faster transition to green hydrogen, especially in the current environment of high natural gas prices. .

The updated analyzes also revealed that:

  • Onshore and offshore wind costs fell faster than expected. Changes in onshore wind costs reflect Australian projects. Offshore wind has yet to be developed in Australia, but cost reductions achieved overseas mean Australian projects are expected to be less expensive than expected.

  • Solar and wind continue to be the cheapest sources of electricity for any expected share of renewables in the grid – between 50% and 90%. A 100% renewable system would not consist entirely of wind and solar energy, but would include other renewable energies such as hydroelectricity, biomass and green hydrogen.

  • Solar and wind begin to require additional investment in storage and transmission once variable renewables reach around 50% of generation share. Solar and wind require new transmission connections to access the best resource. Storage, in the form of batteries or pumped hydro, combined with existing flexible gas generation, ensures that demand can be met reliably from these variable generation sources.

  • Cost reductions for technologies that are not currently widely deployed, such as carbon capture and storage (CCS), small modular nuclear reactors (SMRs), solar thermal and ocean power, are lagging and would require greater investment to realize their full potential.

  • The status of nuclear SMRs has not changed. Following extensive consultation with the Australian electricity industry, the report’s findings see no prospect of domestic projects this decade, given the commercial immaturity and high cost of the technology. Future cost reductions are possible but dependent on its successful overseas commercial deployment.

AEMO Executive Director General – System Design, Ms. Merryn York, said the analysis shows that timely investment in new renewable energy will provide the most economical form of electricity generation in the future.

“With the growing opportunity to decarbonise the Australian economy, understanding the investments that can support a low-emission electricity system, provide resilience to international pressures and reduce consumption costs is critically important to enabling the energy transition” , she said.

/Public release. This material from the original organization/authors may be ad hoc in nature, edited for clarity, style and length. The views and opinions expressed are those of the author or authors. See in full here.

Biden administration takes key step in controversial Alaska oil drilling project, angering environmental groups

By Ella Nilsen, CNN

(CNN) – The Biden administration has taken a key step forward on a controversial oil drilling project in Alaska’s North Slope, angering climate advocates who say the project would release tons of emissions and condemn the president’s climate goals.

The US Department of the Interior released a draft environmental impact statement for the ConocoPhillips oil drilling project, known as Willow, on Friday evening. The statement does not represent a final decision and includes several potential scenarios for the project, including no drilling. But it was a critical step the Biden administration needed to take to move the process forward — setting off alarm bells among environmental groups.

If approved and built, the project would produce 629 million barrels of oil over a 30-year lifespan and release between 278 million and 284 million metric tons of carbon dioxide that would warm the planet, according to the draft statement. of environmental impact.

ConocoPhillips is proposing five drill sites on federal lands in Alaska’s North Slope, and the project would include a processing facility, oil transport pipelines, gravel roads, at least one airstrip and a gravel mine site, says the draft EIS report.

The Biden administration has faced considerable pressure from congressional Republicans and Democratic Sen. Joe Manchin of West Virginia to boost domestic energy production to help lower gasoline prices, even if this project would take years.

Republican Senator Lisa Murkowski of Alaska applauded the administration’s decision and said she would “continue to hold them accountable” in hopes the project would begin construction this winter.

“From day one, I have elevated Project Willow to a top priority for the administration,” Murkowski said in a statement.

Environmental groups blasted the new development, saying it would destroy Biden’s climate goals of halving U.S. greenhouse gas emissions by the end of the decade and accelerating the pace of climate change. climate change.

“This project is a pending climate catastrophe,” Christy Goldfuss, senior vice president for energy and environmental policy at the Center for American Progress, said in a statement. “Once approved, it will define the country’s energy future for the next 30+ years without impacting the pain Americans are currently feeling at the pumps.”

The groups also said the project would harm native wildlife, including polar bears, migratory birds and caribou.

“We cannot allow ConocoPhillips to destroy this pristine region – which is already warming three times faster than the rest of the world due to climate change,” said Alex Taurel, conservation program director for the League of Conservation Voters. , in a press release.

Willow was initially approved by the Trump administration, but was then temporarily blocked by a judge who said the previous administration’s environmental analysis was insufficient and did not fully consider potential harm to wildlife. or additional impact on climate change.

The Biden administration’s new EIS project was necessary for the project to continue.

With the release of the draft, a 45-day public comment period takes effect before the administration makes a final decision.

The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia company. All rights reserved.

Drilling Fluids Market SWOT Analysis by 2028

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New Jersey, United States – The Drilling Fluids Market The research report aims to provide a quick overview of the overall industry performance and important new trends. Important information, as well as conclusions, latest key drivers and constraints, are also described here. A wide range of quantitative and qualitative techniques are used by market analysts, including in-depth interviews, ethnography, customer surveys, and secondary data analysis. It becomes easy for major players to collect important data regarding key organizations along with information such as customer behavior, market size, competition and market needs. By referring to this Drilling Fluids Market research report, it becomes easy for key players to take evidence-based decisions.

This Drilling Fluids Market research report adds the potential to impact its readers and users as market growth rate is affected by innovative products, increase in demand for the product, the richness of raw materials, the increase in disposable income and the modification of consumer technologies. It also covers the effect of COVID-19 virus on market growth and development. Market participants can briefly study the report before investing in the market and expect higher returns. According to the report, the market scenario continues to fluctuate based on many factors.

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Top Key Players in Drilling Fluids Market Research Report:

Schlumberger (MI Swaco), Halliburton, Baker Hughes, Newpark Resources, Tetra Technologies, Canadian Energy Services & Technology, National Oilwell Varco, Scomi Group Bhd, Secure Energy Services, Weatherford International, Anchor Drilling Fluids USA, Global Drilling Fluids & Chemicals, PetroChina , Sinopec, CNOOC

Key Segments Covered in the Drilling Fluids Market – Industry Analysis by Types, Applications and Regions:

Drilling Fluids Market – Type Outlook (Revenue, USD Million, 2017-2029)

• Oil Based Fluids (OBF)
• Water Based Fluids (WBF)
• Others

Drilling Fluids Market – Application Outlook (Revenue, USD Million, 2017-2029)

• Onshore oil
• Offshore oil
• Natural gas industry

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ATTRIBUTES DETAILS
ESTIMATED YEAR 2022
YEAR OF REFERENCE 2021
FORECAST YEAR 2029
HISTORICAL YEAR 2020
UNITY Value (million USD/billion)
SECTORS COVERED Types, applications, end users, and more.
REPORT COVER Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
BY REGION North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
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? North America (United States, Canada and Mexico)
? Europe (Germany, France, UK, Russia and Italy)
? Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
? South America (Brazil, Argentina, Colombia, etc.)
? Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)

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? Fragmentation of drilling fluids by product type, end use and region
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Citgo ready to resume oil imports from Venezuela if the United States allows it – CEO

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The Citgo Petroleum refinery is pictured in Sulfur, Louisiana, U.S., June 12, 2018. REUTERS/Jonathan Bachman/File Photo/File Photo

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CARACAS, July 8 (Reuters) – U.S. refiner Citgo Petroleum is ready to resume imports of Venezuelan crude, suspended since 2019 by Washington sanctions against its parent PDVSA, if the U.S. government allows the flow, the CEO said on Friday. from Citgo.

Since March, senior US and Venezuelan officials have engaged in political negotiations that could lead Washington to ease oil trade sanctions that have hit the OPEC country’s production and exports.

OPEC and the French government, representing Europe, have called on Washington to allow Venezuelan and Iranian crude to flow to consumer nations struggling to replace Russian energy supplies during the war in Ukraine.

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“To compete in this market, we need to buy the cheapest and most convenient crude,” Citgo CEO Carlos Jorda told an online conference about Venezuela’s foreign energy assets. “We should not be at a disadvantage” compared to other refiners.

Citgo did not immediately respond to a request for additional comment.

In May, President Joe Biden’s administration allowed European firms Eni (ENI.MI) and Repsol (REP.MC) to resume imports of Venezuelan crude, which helped boost oil exports last month. country at more than 600,000 barrels per day.

Chevron Corp (CVX.N), the last U.S. producer operating in Venezuela, is also seeking permission from the U.S. Treasury Department to ship Venezuelan oil to the United States and even gain operational control of its joint ventures.

“If authorized (Venezuelan) crude arrives on the U.S. Gulf Coast without penalties at competitive prices, especially if it is heavy crude, we will definitely have to assess it,” said Horacio Medina, president of a board of directors overseeing Citgo, at the same conference. .

“I see no reason to be radically closed to this,” he added.

Citgo, whose first-quarter profit grew more than 10-fold from a year ago to $245 million on higher crude processing volumes and soaring fuel prices, plans to release its second-quarter results in the coming week, Jorda said.

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Reporting by Deisy Buitrago, writing by Marianna Parraga; Editing by David Gregorio

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Five paths to net zero, while securing critical energy for today

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In these unstable times, how can the UK achieve net zero, while securing energy today? Thanks, above all, to a stable fiscal climate which unequivocally encourages investment, says David Bunch, chairman of Shell in the United Kingdom.

Think back to COP26. At the time, few people would have imagined a war in Europe three months later. Nor that within six months soaring global energy prices would leave one in five households in fuel poverty, as national electricity and gas bills soared.

The invasion of Ukraine is a horrible human tragedy. For those far from the conflict zone, it was also a stark reminder that affordable and reliable energy is not a given. On the contrary, it showed how complex and fragile the global energy system is. A difficult system to change.

But we have to change it. For UK energy security. For the fate of the people of this country. For the future of our planet. And in these times of unprecedented global volatility, companies like mine are looking to government for stability.

Shell UK, of course, will do its part. We intend to invest between £20 billion and £25 billion in the UK over the next decade, subject to board approval. More than 75% of this sum is earmarked for low- or zero-carbon products and services, including offshore wind, hydrogen and electric vehicle charging. But this requires a stable policy and regulatory framework. Our intent focuses on five main areas.

First, we will play our part in keeping energy flowing in the country, helping to make Britain’s energy system stronger and more self-sufficient. Our Jackdaw project recently received government approval and could produce 6.5% of the UK’s North Sea gas, enough to heat 1.4 million homes this decade.

Second, we intend to accelerate the development of new low-carbon and renewable energy sources in UK industrial heartlands. Together with our partner ScottishPower, for example, we plan to build and operate two of the world’s first large-scale floating offshore wind farms off the coast of Scotland, bringing clean energy to power the equivalent of six million of British homes.

Third, we aim to lead a nationwide rollout of charging infrastructure to accelerate the uptake of electric vehicles, so that by 2030 90% of UK drivers are no more than 10 minutes away from a fast charger Shell. Specifically, we aim to have 100,000 public charging stations installed across the country by 2030.

Fourth, we want to provide more certified renewable electricity to customers at home and on the go. We aim to supply five million UK customers by 2030. And finally, we want to invest £100m over the next decade in what we call ‘net zero generation’. Through this program we aim to help 15,000 people in communities across the UK find employment with a focus on energy transition.

These changes cannot happen alone. Business, government and society must all come together. In addition to a stable fiscal and investment climate, we need policy frameworks that encourage the development of low-carbon technologies at pace and scale. Policymakers should also build on the North Sea Transition Agreement to support a stable and rapid regulatory regime and the transition to a wide range of energy assets, including gas and offshore wind.

I hope together we can seize this moment and drive big change to transform the UK’s energy system, propelling the country towards its net zero target of 2050, while securing the critical energy supply needed to drive it forward. the UK today.

This article appeared in The Path to Net Zero, a special report to mark Net Zero Week 2022, with contributions from MP Anne-Marie Trevelyan, MP Alex Burghart and MP Kerry McCarthy. Learn more here.

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Use of alternating current results in higher electricity demand in summer

BC Hydro Data shows that an increase in the use of air conditioning (AC) in British Columbia homes has significantly increased electricity demand in the summer and predicts that this upward trend will continue due to climate change.

A new report titled, “AC Dependence: Summer Electricity Demand Rises with AC Use,” shows that since 2017, BC Hydro’s residential electricity demand has increased 12% from June to August, mainly due to an increase in the use of alternating current in residences.

“Climate change has made access to alternating current increasingly vital as summer temperatures rise,” said BC Hydro spokeswoman Susie Rieder. “BC Hydro data shows that AC use has increased by about 50% over the past decade, from a quarter of British Columbians using it at home to nearly 40%, but we always see a much higher electricity demand during the winter months.”

With record heat last summer, BC Hydro set 19 of its 25 all-time summer daily peak records, including breaking its all-time summer peak hourly demand record – hour of day when British Columbians use the most electricity – when demand reaches 8,568 megawatts. Compared to summer 2017, peak hourly demand in summer 2021 increased by approximately 13%.

This summer, temperatures are expected to rise from July to September and electricity demand is expected to increase during this period, mainly due to the use of alternating current. In a recent poll conducted on behalf of BC Hydro, 62% of British Columbians with AC said their AC use has increased at home in recent years, and 63% have used their AC for more than five hours. per day last summer. This year, a quarter of British Columbians have bought or upgraded an air conditioner, with 72% citing the increasingly intense and frequent summer heat as their main motivation.

BC Hydro expected to increase summer demand. BC Hydro has excess electricity and its 20-year Integrated Resource Plan outlines how it will meet future electricity demand through a combination of energy conservation, system upgrades and resource development additional production.

This summer, BC Hydro recommends that British Columbians take the following steps to stay cool, save energy and stay safe:

  • Cooling with a heat pump: Because BC Hydro generates 98% of its electricity from clean, renewable resources that are primarily water-powered, using a heat pump for summer cooling and winter heating is greener than a gas-powered system. It is also more energy efficient than using multiple portable AC units. BC Hydro is offering up to $3,000 in rebates to switch from a fossil fuel-based system, which can be combined with provincial and federal rebates for a total savings of up to $11,000 on cost and fuel. installation, with some municipalities adding additional discounts on top of that.
  • Go ductless: If a central heat pump system isn’t an option for your home, ductless units are a great option while still providing the same benefits as a central system.
  • Buy smart: If you’re buying an air conditioner, opt for a window air conditioner over portable units, as they’re twice as energy efficient — especially if they’re ENERGY STAR certified — ENERGY STAR models use about 30-40% less energy. ‘energy. than standard units.
  • Temperature Optimization: Cool homes to 25 degrees Celsius during summer months when occupied, and air conditioning should be turned off when unoccupied.
  • Closing curtains and blinds: Shaded windows can block up to 65% of heat.
  • Running a Fan: Running a fan nine hours a day in the summer costs only $7.
  • Usage Tracking: Use MyHydro to track electricity usage and see how air conditioning usage can impact costs.

BC Hydro


Enterprise Increases Quarterly Distribution | business thread

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HOUSTON–(BUSINESS WIRE)–Enterprise Products Partners LP (NYSE:EPD) (“Enterprise”) today announced that the board of directors of its general partner has declared the quarterly cash distribution paid to limited partners holding common units of Enterprise for the second quarter of 2022 of $0.475 per unit, or $1.90 per unit on an annualized basis.

The quarterly distribution will be paid on Friday, August 12, 2022 to ordinary unitholders of record at the close of business on Friday, July 29, 2022. This distribution represents an increase of 5.6% over the distribution declared for the second quarter of 2021. .

This increase in distribution is the 74 of the partnershipe increase in distribution since its IPO in 1998. This year will be the 24e consecutive year of distribution growth. During the second quarter of 2022, Enterprise repurchased $35 million of its common shares on the open market. Including these purchases, the partnership used 26% of its $2.0 billion authorized buyback program.

Enterprise will announce its results for the second quarter of 2022 on Wednesday, August 3, 2022, before the opening of the New York Stock Exchange. Following the announcement, the partnership will host a conference call at 9 a.m. CDT with analysts and investors to discuss earnings. The call will be webcast live and accessible via the “Investors” section of the partnership’s website at www.enterpriseproducts.com. A replay of the webcast will be available for one week after the conference call and will be available for viewing approximately one hour after the conference call ends.

Enterprise Products Partners LP is one of North America’s largest publicly traded partnerships and leading providers of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: the gathering, processing, treatment, transportation and storage of natural gas; NGL transport, fractionation, storage and marine terminals; crude oil collection, transport, storage and marine terminals; transport, storage and maritime terminals of petrochemical and refined products; and a shipping company that operates on major United States domestic and intra-coastal waterway systems. The partnership’s assets currently include over 50,000 miles of pipeline; more than 260 million barrels of storage capacity for NGLs, crude oil, petrochemicals and refined products; and 14 billion cubic feet of natural gas storage capacity.

This release is intended to be qualified advice under Treasury Regulation section 1.1446-4(b). Dealers and agents must treat one hundred percent (100.0 percent) of distributions from Enterprise to non-US investors as being attributable to income actually connected with a trade or business in the United States. Accordingly, distributions from Enterprise to non-US investors are subject to federal income tax withholding at the highest applicable effective tax rate.

This press release contains “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included herein that address activities, events, developments or transactions that Enterprise and its General Partner expect, believe or anticipate will occur or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required regulatory approvals, the possibility that the anticipated benefits of such activities, events, developments or transactions may not be fully completed, the possibility that costs or difficulties relating thereto may be greater than anticipated, the impact of competition and other risk factors included in Company’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Mansfield is seeking funding for a water harvesting project at the Mansfield Community Center

July 5—MANSFIELD — Mansfield City Council is trying to secure funds for a water harvesting project at the Mansfield Community Center.

This project involves the design and installation of a system to collect, filter, store and reuse rainwater from the roof of the community center.

The city believes this project would make the facility more sustainable by reducing or eliminating the need for water from the local water supply system (the University of Connecticut water system, which is operated by Connecticut Water) .

“We’re doing a lot in town to try to make the town more sustainable,” Mansfield Mayor Antonia Moran said. “It’s a big project, so I really hope we can start the project very soon.”

At Monday’s city council meeting, council gave the go-ahead for the city to submit an application for the project to receive funding from the Neighborhood Assistance Act program.

This program provides funding for community programs conducted by a municipal government or tax-exempt agency through a corporate tax credit to businesses that make cash contributions to the city.

The community program must be approved by both the municipal agency and the Connecticut Department of Revenue Services.

Businesses can receive a Connecticut tax credit for their contributions to municipal programs that are approved by the Connecticut Department of Tax Services.

The amount of the tax credit is determined according to the type of project in which the company invests.

The minimum investment required is $250 and the maximum investment for a business in a calendar year is $150,000.

Two types of community projects and programs are eligible for funding under the Neighborhood Assistance Act: energy conservation projects and community programs.

Energy-saving projects benefit from a tax credit of 100% of the money invested.

Energy saving projects eligible for financing by

MANSFIELD, Page 4

Pineapple Energy Announces Chi – GuruFocus.com

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MINNETONKA, Minnesota, June 15, 2022 (GLOBE NEWSWIRE) — Pineapple Energy Inc. (PEGY) (“Pineapple” or “the Company”), a leading provider of sustainable solar energy and backup power for households and Small Business, today announced that Chief Financial Officer Mark Fandrich has decided to step down from his role, effective the date the company files its second quarter Form 10-Q, which is currently scheduled for August 12, 2022. Mr. Fandrich will work with Corporate Comptroller Kristin Hlavka and CEO Kyle Udseth through the completion of the company’s second quarter SEC filings and have also agreed to provide support after Aug. 12 regarding the sale of the remaining assets of CSI, JDL and Ecessa.

Mark Fandrich commented: “My decision to leave was not easy given my view that Pineapple’s future in residential solar is very bright. That said, I believe a shift now allows me to refocus my skills as I begin to explore new opportunities while spending more time with my family. I greatly value the opportunities presented to me at CSI and Pineapple and have enjoyed working with the true professionals on our leadership team.

Pineapple President Roger Lacey said, “Mark has been instrumental in the successful multi-year strategic transformation of Communications Systems, Inc. into Pineapple Energy Inc., which positions us as an exciting new entrant in the substantial market. and rapidly growing residential solar. Mark’s dedication to the project and his perseverance in overcoming many challenges has been essential to our success. We recognize his desire to conclude this phase of his career and wish him only success in his next projects. We also very much appreciate his intention to support us during the transition period as we identify a new CFO. »

About Pineapple Energy

Pineapple is focused on growing leading local and regional solar, storage and energy service companies nationwide. Our vision is to fuel the energy transition through grassroots growth in solar electricity combined with battery storage. Our portfolio of brands (Hawaii Energy Connection, E-Gear, Sungevity and Horizon Solar Power) provide homeowners and small businesses with an end-to-end product offering solar, battery storage and grid services.

Forward-looking statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Pineapple Energy’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those expressed or implied by the statements herein due to changes in economic, business, competitive or regulatory factors, and other risks and uncertainties, set forth in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date of this press release. Pineapple Energy undertakes no obligation to update or revise these forward-looking statements for any reason, except as required by law.

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Kyle Udseth
Chief executive officer
+1 (952) 996-1674
[email protected]

The Blueshirt Group
Gary Dvorchak, CFA
General director
+1 (323) 240-5796
[email protected]

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IFS acquires ULTIMO

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  • IFS extends its leadership in the EAM software space with ULTIMO’s impressive product capabilities, customer base and team of experts.
  • ULTIMO’s SaaS offering is differentiated by rapid return on investment, high levels of flexibility and configurability

LINKOPING, Sweden, July 5, 2022 /PRNewswire/ — IFSannounces that it has signed a definitive agreement for the purchase of Ultimo Software Solutions, the Netherlands cloud-based enterprise asset management (EAM) software provider. ULTIMO has been widely recognized for building a solid reputation for the completeness, flexibility and configurability of its SaaS EAM solutions.

IFS has a deep and long heritage in asset management and provides industry-specific, end-to-end EAM software to companies with complex needs and seeking to manage the efficiency of their assets from cradle to grave. .

ULTIMO complements the IFS Cloud EAM offering with a proven track record of delivering faster ROI in the industries they serve and providing a widely accredited EAM point solution for its rapid deployment and ease of use.

Founded in 1988, ULTIMO’s clientele is mainly located in Europe with some American presence. The company has its registered office at the Netherlandshas 180 employees and more than 2,000 customers, including London Gatwick Airport, BASF, VTTI, Ravago, Vion Food Group, Argent Energy and Hutchison Ports ECT Rotterdam.

The combination of IFS and ULTIMO means that IFS stands out from its competitors as the only vendor able to offer cloud-native EAM solutions that meet all businesses with complex end-to-end business needs or as a stand-alone point solution.

CEO of IFS, Darren Rooscommented“This acquisition puts IFS in a uniquely strong position as we now offer the most comprehensive set of EAM capabilities on the market. The flexibility and configurability of ULTIMO perfectly complements the end-to-end capabilities of IFS Cloud.” Roos added“Helping our customers achieve their Moment of Service goals by turning the assets and services they need into a business differentiator has been central to IFS’s success in EAM, and we know that’s something something that also resonates with ULTIMO customers.”

Willem-Jan ScholtenCEO of ULTIMO commented“I’m proud that we’ve succeeded in establishing ULTIMO as a respected provider of enterprise asset management software in our key industries. The market is ripe for disruption and we still have a lot to do, which is why being part of the IFS family means we can capitalize on our shared ambitions even faster.” He concluded“Now part of the industry’s #1 EAM software provider, we have found in IFS a company that shares our values ​​and provides the support we need to take on what is so special about ULTIMO. – with our product, our customers, our employees and our partners – at the next level.”

Earlier this month, Gartner recognized IFS as #1 in EAM market share by revenue – compared to SAP, IBM, Infor and Oracle – with an 18% share, which increased by 29.1% year-on-year. Additionally, IFS’s commitment to customer success was also recognized by Gartner Peer Insights which awarded IFS the Customers’ Choice distinction. The company believes this achievement is proof that its continued goal of bringing composable technology to market with industry-specific capabilities is resonating with customers.

For more information on IFS Cloud for EAM, please visit: https://info.ifs.com/eam.html

IFS expects the acquisition of ULTIMO to be finalized in the third quarter of 2022.

About IFS

IFS develops and delivers enterprise software for companies around the world that manufacture and distribute goods, build and maintain assets, and manage service-oriented operations. Within our single platform, our industry-specific products are inherently connected to a single data model and utilize embedded digital innovation so our customers can perform at their best when it really matters to their customers – at time of service. The industry expertise of our people and our growing ecosystem, coupled with a commitment to delivering value at every step, has made IFS a recognized leader and the most recommended supplier in our industry. Our team of 4,500 employees lives our values ​​of agility, reliability and collaboration every day in the way we support our more than 10,000 customers. Find out how our enterprise software solutions can help your business today at ifs.com.

About Ultimo Software Solutions

Ultimo provides the #1 flexible enterprise asset management cloud platform for midsize businesses. The software is used by more than 2,000 customers worldwide in manufacturing, healthcare, logistics, infrastructure and utilities. It offers customers in these sectors numerous advantages such as increased availability, cost control, increased equipment life, ease of compliance with laws and regulations and the assurance of safe working environment. Ultimo delivers these benefits with unparalleled ROI through fast implementation processes, seamless integrations, and self-service application management. The company was established in 1988, has offices in the Netherlands, Belgium, Germany and the UK, and is supported globally by an extensive ecosystem of open partners. www.ultimo.com

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Indian stocks gain around 1% as energy and metals stocks rally

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A general view of the Bombay Stock Exchange (BSE), after Sensex broke above the 50,000 level for the first time, in Mumbai, India January 21, 2021. REUTERS/Francis Mascarenhas

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BENGALURU, July 5 (Reuters) – Indian stocks rose on Tuesday, led by energy companies and battered metal stocks, as falling commodity prices eased worries about runaway inflation.

At 05:14 GMT, the NSE Nifty 50 Index (.NSEI) climbed 1% to 15,999, while the S&P BSE Sensex (.BSESN) rose 0.96% to 53,747.87.

The Nifty Metals index (.NIFTYMET) gained 1.8% after falling almost 2.5% in the previous session, while the energy index (.NIFTYENR) rose 1.3 %.

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“Commodity prices have come down from the peak. This has reduced inflation fears. Although fears of rate hikes and recession have not completely evaporated, the doomsday scenario has eased a lot,” Anand said. James, chief market strategist at Geojit Financial Services.

Prices for several commodities, including steel, iron, wheat, palm oil and crude, have fallen from multi-month highs over the past two weeks.

The Nifty Volatility Index (.NIFVIX), which indicates traders’ expectations for market volatility over the next 30 days, fell 2% to 20.535.

The volatility index has been supportive and as we head into earnings season, it’s giving the markets some kind of positivity to look past rate hikes and recession-related worries, James said.

Among individual winners, PTC India Financial Services (PTCN.NS) jumped nearly 20% after the non-banking financial firm said an independent audit had issued a “satisfactory report” after finding the company maintained a sufficient transparency.

PTC India Financial has been under the Indian market regulator’s radar for its corporate governance issues. Read more

Marksans Pharma (MARK.NS) jumped 17.8% after a proposed share buyback.

Meanwhile, Asian stocks edged higher as positive economic data and signs of easing Sino-US tensions offered some respite from recent selling, although lingering fears of a recession and inflation dizzying heights have kept most buyers at bay.​

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Reporting by Nallur Sethuraman in Bangalore; Editing by Amy Caren Daniel and Uttaresh.V

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West Africa Powerhouse Unites Global Players to Accelerate Global Energy Partnerships at NOG 2022

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FFrom Asia to the United States, India, Turkey, Qatar, Spain and Portugal, Nigeria’s drive to forge international energy partnerships is boundless. The NOG Conference and Expo, to be held July 4-7, 2022 in Abuja, is Nigeria’s premier energy conference and will examine Nigeria’s positioning in the changing global energy landscape, with a focus on financing and emerging opportunities to transform its energy industry.

This has become imperative as the world walks the fragile tightrope of the ‘new different reality’ of the global energy system, Africa, and in particular its largest economy, Nigeria, has been hit hard but also finds itself at a crossroads of immense potential.

Since the start of the Ukraine crisis, the global economy has been significantly disrupted, leading to soaring inflation and a potential food crisis, especially in emerging economies like Nigeria. As global markets saw an oil price spike of over $100 a barrel, Nigeria’s oil and gas sector was unable to increase its reserves – in fact, that loss was compounded by a low oil production hovering around 1.2 million bpd.

In line with this position, the theme of the twenty-first edition of the NOG Conference and Expo is “Financing the Nigerian Energy Mix for Sustainable Economic Growth” will focus on strategies that will be employed by Nigerian government and private sector leaders. to navigate the emerging energy business environment – ​​helping to set the national energy agenda for the next 12 months.

One of the main opportunities for Nigeria in this dynamic is to expand its gas supply and energy cooperation with the world. The EU, which derives a substantial percentage of its oil and gas from Russia, is seeking alternative energy sources. With Nigeria already supplying France, Portugal, Spain and Belgium, it is on the radar to supply other EU countries as well, especially as the country is currently scrambling to shift its gas reserves from 206 trillion cubic feet to 600 trillion cubic feet.

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However, to be able to respond fully to EU demand, Nigeria needs to develop its infrastructure and increase its investments. This is at the heart of the various discussions and debates that will take place at the NOG Conference & Exhibition.

Among the participating dignitaries are HE Timipre Sylva, Minister of Petroleum Resources, HE Otunba Niyi Adebayo, Minister of Industry, Trade and Investment and HE Mohammad Sanusi Barkindo, Secretary General of OPEC.

Industry leaders include Senator Margery Chuba Okadigbo, Chairman of the Board, NNPC, Mele Kolo Kyari, Group Managing Director, NNPC, Richard Kennedy, Chairman and Managing Director, Chevron Nigeria/Mid-Africa Business Unit and Chairman, OPTS, Mike Sangster, Managing Director and Managing Director, TotalEnergies EP Nigeria Limited, Richard Laing, Chairman and Managing Director, ExxonMobil Affiliate Companies in Nigeria, Osagie Okunbor, Managing Director, The Shell Petroleum Development Company of Nigeria Limited and National Chairman, Shell Companies in Nigeria, Elohor Aiboni, Managing Director, Shell Nigeria’s Exploration and Production Company Limited and Philip Mshelbila, Managing Director and Chief Executive Officer, Nigeria LNG.

2022 sponsors include NNPC, ExxonMobil, Nigeria LNG, Shell, Chevron, TotalEnergies, Oando, IPPG, NUPRC, NCDMB, Prime Atlantic, DCPL, Coleman Cables, UTM Offshore, First E&P, ND Western, Samsung Heavy Industries Nigeria, Montego, Nivafer, RusselSmith, Vurin Group, MG Vowgas Group, West African Ventures, MicCom Cables, Niger Delta E&P, Eleva Group, Heritage Group, Seplat Energy, Banwo & Ighodalo.

Various industry players have named NOG as one of the key energy sector events in Nigeria for the strategic business planning and decision-making process and look forward to the conversations that will shape the country’s energy agenda. for the next 12 months and beyond.

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Australian coal-fired power plant to house huge 1.45 GW/2.9 GWh battery – pv magazine International

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Queensland Government-owned power generator Stanwell has revealed plans to build a massive 1.45GW/2.9GWh battery storage system alongside Stanwell coal-fired power station in central Queensland. Queensland as the state government seeks to increase energy storage capacity to support the transition to renewables.

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State government-owned energy company Stanwell is advancing plans to develop a large-scale, stand-alone battery with combined 1.45GW/2.9GWh energy storage next to its power plant Stanwell Coal near Rockhampton in central Queensland. Stanwell said the battery would support continued investments in renewable energy and help maintain system security and reliability.

A material change of use application has been lodged with Rockhampton County Council on behalf of Stanwell, which owns and operates coal-fired power stations at Stanwell and Tarong, for a new battery energy storage system at the utility scale (BESS).

According to the planning report, the BESS would be installed on a 12-hectare site near Stanwell Power Station and would be built in two stages. The first stage would involve the installation of lithium-ion batteries with an output of 150MW/300MWh, while the second stage could use lithium-ion or flux battery technology with an output of up to 1,300 MW/2,600 MWh.

Stanwell, which is also progressing with plans to develop a 150 MW/300 MWh battery adjacent to the Tarong The power station site near Nanango in South Burnett, said it was looking to develop a profitable, high-quality portfolio of renewable energy and energy storage assets to support its long-term strategy. of providing low-emission solutions to commercial and industrial retail businesses. clients.

“As a business, we are exploring a range of future energy solutions to ensure we are in the best possible position to respond to market developments,” the company said. “We are exploring a range of opportunities to integrate technologies into our asset portfolio, including hydrogenenergy storage, wind, solar and bioenergy.

The government-owned generator said the large-scale BESS will play an increasingly important role in the National Electricity Market (NEM) as it transitions to a predominantly renewable energy system. “Energy storage will be critical as it facilitates the integration of renewables into the energy system by storing electricity generated by wind and solar and supplying it to the market when needed,” he said. -he declares.

The first stage of the Stanwell battery would incorporate lithium-ion technology. The report, filed by Brisbane-based design and engineering firm Aurecon, says the Stanwell Battery will be able to store electrical energy from the NEM and export it to it. “The project will store electricity during periods of high supply and/or low utilization and provide electricity during critical peak hours enabling reliable and affordable energy supply during these periods,” the report states.

The BESS will also provide Frequency Control Auxiliary Services (FCAS) to the NEM, helping to ensure that power supply and demand match at all times. “By acting as a load during peak periods of solar generation and providing energy services that support system stability, the BESS will support the deployment of renewable energy generation in the NEM,” the report states.

Stanwell Battery is to be built on a site adjacent to Stanwell Power Station, approximately 28 kilometers south-west of Rockhampton. Stanwell said the location of the battery storage on the site would allow it to capitalize on existing land and connection infrastructure with the proposed BESS to connect to the adjoining distribution substation of Queensland network operator Powerlink. via a 275 kV transmission line.

Although no timetable for the project was detailed in the planning report, Stanwell previously indicated that it would likely go live in 2024, although the report acknowledged that the project remains subject to approvals.

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Liz Truss mulls seizure of Russian assets in UK to donate to Ukraine | Ukraine

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The UK wants to follow Canada’s lead and seize Russian assets in the UK to give to Ukraine, Liz Truss said.

It comes as the foreign minister is due to deliver a speech on Monday at a Ukraine reconstruction conference in Lugano, Switzerland, which will be attended in person or virtually by most of Ukraine’s top political leaders.

It is estimated that more than 120,000 homes in Ukraine were destroyed during the Russian invasion, creating the need for billions in revenue to restore the country economically and turn it into a European-oriented economy.

Truss told MPs last week that she supported the idea that the government could seize Russian assets frozen in the UK and redistribute them to victims of Russia’s war in Ukraine.

She said: “I support the concept. We are looking at it very closely. Canadians have actually just legislated. This is something we are working on jointly with the Home Office and the Treasury, but I certainly agree with the concept. We just need to fully understand the details. »

She said the initiative would “most likely” need legislation, but not necessarily.

The seized funds could be provided either to individuals in the form of reparations or to the Ukrainian state. Currently, the UK can suspend Russian assets under the Economic Crimes Act for 56 days and extend the suspension for another 56 days. During this period, the owner of the asset cannot benefit from the asset in any way.

In his speech to the conference, Truss will say the UK will position itself as Ukraine’s key partner in the recovery process and will say it has already offered $1.5 billion to the country through guarantees multilateral loans and over £100 million in bilateral support.

She will say: “The recovery of Ukraine from Russia’s war of aggression will be a symbol of the power of democracy over autocracy. This will show [Vladimir] Putin that his attempts to destroy Ukraine have only produced a stronger, more prosperous and more united nation.

“The UK is resolute in its support for Ukraine’s territorial integrity and will stand by Ukraine as it emerges as a strong, thriving and forward-thinking democracy. We led support for Ukraine during the war and will continue to lead support for the Ukrainian government’s reconstruction and development plan.

The Foreign Office said: ‘Humanitarian aid and mine clearance programs will help rebuild villages, towns and cities, and in the longer term the UK will share its economic and financial expertise to transform the Ukraine into a global hub for investment, business and cutting-edge technology. Technology. The UK will champion the takeover of Kyiv City and Kyiv Region, as requested by President Volodymyr Zelenskiy. »

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In practice, the extent of reconstruction will depend on the outcome and duration of the war, and whether eastern Ukraine – where the worst damage has been – is returned to Kyiv or remains in the hands of Kyiv. of the Russians.

It is estimated that around 6.4 million Ukrainians have left the country, while another 6-7 million citizens have left their homes and settled in western Ukraine. The cost of the war is estimated at $1 billion if it lasts until the end of the year. The International Monetary Fund has estimated Ukraine’s balance of payments gap through June at around 14.3 billion euros ($15 billion).

One of the objectives of the conference will be to outline a vision of a Ukrainian economy coherent with Europe, offering specialties in the sectors of agriculture, renewable energies and technology. One of the most sensitive issues will be a deoligarchization agenda and how to establish strong anti-corruption institutions at a time when large flows of money from the United States and Europe are likely.

Congress Asset Management Co. MA buys 3,445 shares of Dominion Energy, Inc. (NYSE:D)

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Congress Asset Management Co. MA bought a new stake in Dominion Energy, Inc. (NYSE:D – Get Rating) during the first quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund bought 3,445 shares of the utility provider, valued at around $293,000.

A number of other large investors also bought and sold shares of D. DeDora Capital Inc. bought a new stake in shares of Dominion Energy in Q1 worth $27,000. West Bancorporation Inc. purchased a new equity stake in Dominion Energy in Q4 for $30,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in Dominion Energy stock in Q4 for $30,000. Rather & Kittrell Inc. purchased a new stake in Dominion Energy stock in Q4 for $31,000. Finally, Standard Family Office LLC purchased a new equity stake in Dominion Energy in Q4 for $32,000. Institutional investors hold 68.39% of the company’s shares.

Several equity research analysts have recently released reports on D shares. StockNews.com began covering Dominion Energy in a report on Thursday, March 31. They issued a “holding” rating on the stock. KeyCorp raised its price target on Dominion Energy from $90.00 to $92.00 and gave the company an “overweight” rating in a Wednesday, April 20 report. UBS Group lowered its target price on Dominion Energy from $99.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Morgan Stanley lowered its target price on Dominion Energy from $91.00 to $87.00 and set an “equal weight” rating for the company in a Monday, May 23 research note. One analyst rated the stock with a sell rating, four gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat.com, Dominion Energy currently has a consensus rating of “Hold” and a consensus price target of $84.57.

D opened at $81.24 on Friday. Dominion Energy, Inc. has a 12-month low of $70.37 and a 12-month high of $88.78. The stock has a market capitalization of $65.91 billion, a price/earnings ratio of 22.69, a PEG ratio of 3.14 and a beta of 0.42. The company has a debt ratio of 1.42, a current ratio of 0.79 and a quick ratio of 0.65. The company has a fifty-day moving average price of $81.13 and a 200-day moving average price of $81.11.

Dominion Energy (NYSE:D – Get Rating) last released quarterly earnings data on Thursday, May 5. The utility provider reported earnings per share (EPS) of $1.18 for the quarter, missing the consensus estimate of $1.19 per ($0.01). The company posted revenue of $4.28 billion for the quarter, versus analyst estimates of $4.31 billion. Dominion Energy had a return on equity of 12.99% and a net margin of 20.81%. The company’s revenue increased by 10.6% compared to the same quarter last year. In the same period a year earlier, the company posted earnings of $1.09 per share. On average, research analysts expect Dominion Energy, Inc. to post earnings per share of 4.11 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 20. Shareholders of record on Friday, June 3 received a dividend of $0.6675 per share. The ex-dividend date was Thursday, June 2. This represents an annualized dividend of $2.67 and a dividend yield of 3.29%. Dominion Energy’s dividend payout ratio is currently 74.58%.

About Dominion Energy (Get a rating)

Dominion Energy, Inc produces and distributes energy. The Company operates through four segments: Dominion Energy Virginia, Gas Distribution, Dominion Energy South Carolina and Contract Assets. The Dominion Energy Virginia segment generates, transmits and distributes regulated electricity to residential, commercial, industrial and government customers in Virginia and North Carolina.

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Want to see what other hedge funds are holding D? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Dominion Energy, Inc. (NYSE:D – Get Rating).

Institutional ownership by quarter for Dominion Energy (NYSE:D)



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Traverse City Business News | Green Stage: Businesses Seek Cost Savings Through Environmental Sustainability

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Green Stage: Businesses Seek Cost Savings Through Environmental Sustainability

Green is the new black when it comes to the bottom line.

Ed Belanger, operations manager at the Munson plant, said the establishment of an energy conservation team there in 2008 paved the way for both environmental and economic savings.

“Our initial natural gas and electricity consumption score was 23 out of 100,” he said. “It was the worst quartile.”

He said the health complex had worked on and updated a number of areas of concern, including upgrading LED lighting, fine-tuning boilers, switching to eco-friendly cleaning products environment and the installation of time and occupancy sensors in operating rooms.

“It was a big deal,” he said of the operating room sensors.

To maintain a sterile environment, the air in the operating room is constantly under pressure.

“We have 20 air exchanges per hour. It takes the air away from the sterile environment,” he said. “When there’s no one in there, we cut it down to six. This saved a ton of energy.

The construction of the LEED-certified Cowell Family Cancer Center in 2016 also took these concerns into account, incorporating elements such as the use of electrically charged water in the cleaning of floors, which means that no additional chemicals are necessary.

The result of all these ongoing efforts?

“In 2019, we were ENERGY STAR certified,” Belanger said, referring to the Federal Environmental Protection Agency’s long-standing energy conservation program. “We went from 23 to 78. We’re in the top quartile of hospitals in the Midwest for energy use.”

Given its size relative to Munson, energy gains for Mitchell Graphics in Petoskey and Traverse City were more modest. But they still impact company bottom lines and shape company culture, owner Gary Fedus said.

“It’s been an integral part of our culture from the start,” he said.

For the printing company, one of the main concerns has been to recover and reuse all products that would otherwise go to landfill.

So they partnered with Emmet County, helping to develop its waste management and recycling program, he says.

“We recycle just about every part of our waste, from carpets and plastic to personal use – my Kind bar wrapper is recycled every day,” he said.

This green mindset also affected a recent office renovation.

“Everything we had, we reused, recycled or donated,” he said.

The company has been in business for 50 years and Fedus has been in charge since 2006.

“Since I’ve been running it, (care for the environment) has been more front and center,” he said.

The company has also joined the program offered by Petoskey to supply electricity produced by renewable sources. Fedus said it will be used up to 50% of its electricity consumption, although it admitted it is slightly more expensive.

When it comes to that electricity, the region’s largest power company, Consumers Energy, is trying to do its part.

“Most important is our clean energy plan,” said Josh Patrick, media spokesperson for Consumers, referring to the company’s plan to phase out coal by 2025.

He said using a combination of solar, wind and hydroelectric power will ultimately be both more affordable and more stable than using fossil fuels. The utility’s plan is to generate 8,000 megawatts from solar power by 2040.

“It’s a stable cost,” he said. “There are more fluctuations in the (current) market.”

He said consumers’ use of energy-saving products and practices – from LED light bulbs to hydroelectric power supplied by the Ludington Pump Storage Facility – offers opportunities for energy savings. costs for the utility as well as for its customers.

“We’re one of the only companies in America that wants people to use less of our product,” Patrick said. “It puts less strain on the electricity grid.”

In Frankfurt, the owners of Stormcloud Brewing Company have retrofitted the building they purchased with LED lights and launched an employee commute program that rewards them for not driving a car or truck to work .

“It’s part of our core mission,” said Rick Schmitt, who opened the brewery with Brian Confer in 2013.

The couple have since opened a new brewing facility east of town. Not only did they install LED lights and an 8 KW solar power system, but the facility was designed with light tubes that channel daylight into the facility. Schmitt said most of the time they didn’t even have to turn on the lights. There is even a car charging station.

There are several car charging stations at Crystal Mountain Resort and Spa.

“More and more people are using our chargers,” said Jim MacInnes, owner of the resort with his wife Chris. “I can go 40 miles for $1. It’s a good thing to do these days.

It’s just one of the ways the resort strives to minimize its carbon footprint, according to MacInnes, an engineer by trade.

“When we built our last building, we used a closed-loop geothermal heat pump” for heating and cooling, he said. The five miles of pipe is reminiscent of what he did for snowmaking, where bigger pipes mean less friction and more snowmaking with less power.

And yes, lots of LEDs. MacInnes said it installed 300 LED lights in the Crystal Conference Center.

“We saved enough to power a Chevrolet Volt 200,000 miles a year,” MacInnes said.

At TentCraft, decisions made to directly benefit the company and its customers have also had an environmental benefit.

“The biggest thing is that since 2018, we’ve been manufacturing everything in-house,” said Andrew Dodson, the company’s head of content marketing and public relations.

He said this means the company can control the quality of all of its components and processes.

“Our competitors import tent frames from China with different levels of quality,” he said. “We hear customers all the time saying they’re tired of throwing their tents away because they break too easily.”

This commitment to quality and recycling extends to its own waste. TentCraft’s partnership with PriorLife, a division of Britten, allows its overprinted vinyl to be used for tote bags.

“We’ve recycled 50,000 pounds of metal since 2019, resulting in a return of over $12,100,” Dodson said.

Most of the metal is aluminum, which they claim is almost infinitely recyclable. Kelly Yauk, digital marketing manager, said TentCraft only sources aluminum from suppliers who use at least 70% recycled material.

TentCraft is also piloting a logistics program for outdoor retailer REI. Instead of purchasing a new tent for each store opening, TentCraft holds tents after use and then ships them to the next new store.

Programs like this and the fact that its tents last so long means that those companies or customers won’t buy as many tents from TentCraft.

“But (our customers) make our best sellers,” Yauk said.

On the east side of Traverse City, the new headquarters of the Grand Traverse Regional Land Conservancy (GTRLC) will be equipped with many green features, including high-efficiency insulation, a geothermal system to heat and cool the buildings, and smart electrical panels that reduce the load when the buildings are not in use.

Other innovations include collecting runoff from the roof, filtering it, and then using it to flush toilets and irrigate native landscaping and the on-site greenhouse. The solar panels on the ground are sized to completely compensate for the expected energy consumption. As an added benefit, the panels will provide protection from the elements for the small herd of goats that will inhabit the land when not in other reserves managing invasive species.

David Foote, GTRLC’s facilities manager, hopes the many upgrades to the Conservation Center will offset both energy consumption and costs. The goal is to achieve net zero energy expenditure, he said.

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Cow dung for the development of electrodes as an energy storage device!

IIT-ISM researchers have derived adsorbents that can help remove heavy metals from cow dung and these can be developed as electrodes for energy storage devices.

The research team led by Brijesh Kumar Mishra, Associate Professor in the Department of Environmental Engineering, assisted by Ganesh Chandra Nayak, Associate Professor in the Department of Chemistry and Dr. Sonalika, Associate Researcher in the Department of Environmental Engineering, worked on the project with the dual goals of ensuring water decontamination as well as energy conservation.

The team is working on developing a cost effective adsorbent derived from cow dung to remove heavy metals from water and the adsorbent can also be used later to develop an energy storage device. The research project which also fulfills the objective of the Swachh Bharat mission’s Gobardhan framework to help villages effectively manage their livestock and biodegradable waste, is also in line with the objectives of the central government’s Swajal program to provide food clean and safe drinking water. to the rural population.

“Cow dung is made up of several types of minerals such as phosphorus, nitrogen and carbon, which mainly come from lignin, cellulose and hemicellulose,” Professor Mishra said.

Giving the use of the adsorbent derived from cow dung for the development of electrodes as an energy storage device, Mishra said: “These energy storage devices, developed from waste material, would be very inexpensive and can be integrated with solar panels in rural areas, which can be used to light homes, roads, public toilets, etc. These devices are said to be affordable, durable and cleaner with no impact on the environment , did he declare.

Mishra said the importance of adsorbent derived from cow dung in countries such as India, Bangladesh and Malaysia which focus on agriculture and cattle breeding, cow dung is a viable option for generating energy storage devices, as each bovine generates approximately 9-15 kg of cow dung. per day.

With a 1-year CAGR of 990%, this multibagger stock will soon become ex-bonus

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EKI Energy Services is a large capitalization company that operates in the commercial services sector, with a market capitalization of 20,622 cr. Globally, the organization offers solutions for climate change, carbon credits and sustainability. The organization provides environmentally friendly services such as carbon offset standards, carbon offset, renewable energy attributes, carbon footprint and neutrality with the aim of creating a low carbon economy in the world.

The company approved the issuance of bonus shares in a 3:1 ratio, meaning that for every share held, three additional shares would be issued. To that end, the company has set July 5, 2022 as the record date, and the stock will trade ex-bonus on July 4, 2022 or the following Monday of the coming week. The total number of securities offered for issuance is 2,06,22,000 free shares for a total of approximately Rs. 20,62,20,000.

According to the details of the share capital, the pre-bonus issue is Rs. 6,87,40,000, while the post-bonus issue stands at Rs. 27,49,60,000. According to details in the company’s exchange filing, the company expects to credit or release the free shares no later than July 12, 2022 to shareholders.

The stock climbed 3.50% from its previous close of 7240.70 and settled at 7494.30 Friday on BSE. The stock has grown significantly over the past year, from 688.25 on July 2, 2021 at the current level, which represents a multibagger yield of 989.72% or an approximate CAGR of 990%. Year-to-date (YTD), the stock has fallen 28.06% so far in 2022, and over the past month it is down 0.52%. The stock has climbed 12.44% over the past five trading sessions, and over the past two days it has jumped 4.1%.

The BSE-listed stock hit a 52-week high of 12,599.95 on Jan 24, 2022 and a 52 week low of 688.25 on July 2, 2021. At the current level, the stock is trading 40.52% below its 52-week high and 988% higher than its 52-week low. The stock is trading above the 5-day, 20-day and 200-day moving averages, but below the 50-day and 100-day moving averages based on the current price. The developer’s stake in the company has remained stable at 73.47% since June 2021, and the public stake is low at 15.30% in March 2022 compared to the quarter that ended in December 2021.

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CVR ENERGY INC: Entering into a Material Definitive Agreement, Creating a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (Form 8-K)

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Item 1.01. Conclusion of a significant definitive agreement.

Insight

On June 30, 2022certain subsidiaries of CVR Energy, Inc. (“Company”), Refining CVR, LP, CVR Refining, LLCWynnewood Energy Company, LLC, Wynnewood Refining Company, LLC, Coffeyville Resource TerminalLLC, Coffeyville Resources Refining and Marketing, LLC, Coffeyville Resources Pipeline, LLC,
Coffeyville Resources Crude Transportation, LLC and CVR Renewables, LLC
(collectively, the “Credit Parties”) have entered into Amendment No. 3 to the Amended and Restated ABL Credit Agreement (the “Amendment”) with a group of lenders and
Wells Fargo Bank, National Association (the “Agent”), as administrative agent and collateral agent. The Amendment amends certain provisions of the Amended and Restated ABL Credit Agreement, dated December 20, 2012as heretofore amended, by and among the Agent, the lender group parties thereto and the Credit Parties parties thereto (as amended by the Amendment, the “Amended ABL Credit Facility and update”), which was also due to expire in November 2022.

The Amended and Restated ABL Credit Facility is a senior asset-based secured revolving credit facility in an aggregate principal amount of up to $275 million
with an incremental facility, which allows an increase in borrowing up to
$125 million all subject to additional covenants by the lender and certain other conditions. Loan proceeds may be used for capital expenditures, working capital and general business purposes of the creditor parties and their affiliates. The Amended and Restated ABL Credit Facility provides for loans and letters of credit in an amount up to aggregate availability under the facility, subject to satisfaction of certain basic borrowing conditions, with sub- limits of $30 million for swingline loans and $60 million
(Where $100 million if increased by the Agent) for letters of credit. Under the Amended and Restated ABL Credit Facility, the Borrowing Base is at all times equal to the sum of (without duplication):

• 85% of eligible low-quality obligor accounts and 90% of eligible high-quality obligor accounts, plus

• 95% of accounts in support of which an irrevocable standby letter of credit has been provided to the agent, plus

• 85% of eligible unbilled accounts, plus

• 80% of Qualifying Refinery Hydrocarbon Inventory and Qualifying Renewable Oil Inventory (subject, in the case of Qualifying Refinery Hydrocarbon Inventory, to an increase of the lesser of (i) 5% of qualifying refinery hydrocarbon inventory and (ii) $10 million based on a fixed charge coverage ratio test), plus

• the lesser of (i) 85% of the value, at the lower of cost or market, of the inventories of eligible renewable raw materials, and (ii) 85% of the book value of the inventories of eligible renewable raw materials, plus

• the lesser of (i) 70% of the eligible renewable identification numbers and (ii) the lesser of (A) 5% of the borrowing base and (B) $15,000,000more

• the lesser of (i) 80% of the positive balance of the qualifying exchange agreement and (ii) $10 millionmore

• 80% of eligible crude oil in transit and eligible renewable raw materials in transit, plus

• 100% of the value of standby letters of credit paid but not due, less

•the total amount of the reserves then constituted.

All borrowings under the Amended and Restated ABL Credit Facility are subject to satisfaction of customary conditions, including freedom from default and accuracy of representations and warranties.

Interest Rates and Fees

At the option of the borrowers, loans under the Amended and Restated ABL Credit Facility initially bear interest at an annual rate equal, at all times, to (i) the Prime Rate (i.e. the highest federal funds rate plus 0.50%, a one-month SOFR plus 1.00% and the prime rate published by the Agent from time to time), or (ii) forward SOFR.

Borrowers must also pay a commitment fee on undrawn commitments to lenders under the Amended and Restated ABL Credit Facility equal to (I) 0.375% per annum for the first full calendar quarter after the closing date and (II) thereafter, (i) 0.375% per annum if drawdown under the Facility is less than 50% of total commitments and (ii) 0.25% per annum if drawdown under the facility is equal to or greater than 50% of total commitments. Borrowers must also pay customary letter of credit fees equal, for stand-by letters of credit, to the applicable margin on SOFR loans on the maximum amount available to be drawn thereunder and, for letters of commercial credit, at the applicable margin on SOFR loans less 0.50% on the

————————————————– ——————————

maximum amount that can be drawn under this contract and customary hedging fees equal to 0.125% of the nominal amount of each commercial letter of credit.

Mandatory and Voluntary Refunds

The creditor parties are obligated to repay amounts outstanding under the Amended and Restated ABL Credit Facility in specified circumstances, including with proceeds from certain asset sales. In addition, the Crediting Parties are authorized to voluntarily prepay amounts outstanding under the Amended and Restated ABL Credit Facility at any time.

Amortization and final maturity

There is no scheduled amortization under the Amended and Restated ABL Credit Facility. All loans outstanding under the facility are due and repayable in full on June 30, 2027.

Warranties and Security

Obligations under the Amended and Restated ABL Credit Facility and related guarantees are secured by a first ranking lien on the inventories, accounts receivable and related assets of the creditor parties, in each case subject to customary exceptions. .

Restrictive Covenants and Other Matters

The Amended and Restated ABL Credit Facility requires the credit parties, in certain circumstances, to comply with a minimum fixed charge coverage ratio test, and contains other customary covenants that limit the ability of the parties to credit and capacity of their subsidiaries, among other things, incur liens, engage in consolidation, merger and purchase or sale of assets, pay dividends, incur debts, make advances, investments and loans, conclude affiliate transactions, issue equity interests or establish subsidiaries and subsidiaries without restriction. In addition, the Amended and Restated ABL Credit Facility includes a mechanism whereby certain newly formed subsidiaries of the Company will be joined as creditor parties to the Amended and Restated ABL Credit Facility and to permit the transfer of certain assets as part of the previously announced corporate restructuring initiative, under which the Company intends, among other actions, to separate its renewable energy business.

The Amended and Restated ABL Credit Facility also contains certain customary representations and warranties, affirmative covenants and events of default.

The description of the Amendment, including the amended and restated ABL Credit Facility, is qualified in its entirety by reference to the full text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein. by reference.

Additional act

On July 1, 2022in connection with the Amendment and the Amended and Restated ABL Credit Facility, fourteen newly created indirect subsidiaries of the Company (the “Entrant Subsidiaries”) that were not previously parties to this Indenture as of January 27, 2020among the Company, the subsidiary guarantors listed therein, and Wells Fargo Bank, National Association, as trustee (the “Trustee”), providing for the issuance of 5.25% Senior Notes due 2025 (the “2025 Notes”) and 5.75% Senior Notes due 2028 (with the 2025 Bonds, the “Bonds”), executed and delivered a supplemental trust indenture to the Trustee pursuant to which the Entering Subsidiaries unconditionally guaranteed all of the Company’s obligations under the Notes on the terms and conditions set forth in the Guarantee Notes and the Trust Deed. The description of the Supplemental Indenture is qualified in its entirety by reference to the full text of the document, which is attached hereto as Exhibit 4.1 and incorporated herein by reference.

This report contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including with respect to the Company’s plans for its renewable energy businesses. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the control of the Company.

Section 2.03. Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.

The information presented in section 1.01 of this report is incorporated by reference in this section 2.03.

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Section 9.01. Financial statements and supporting documents.

(d) Exhibits

The following exhibits are being "furnished" as part of this Current Report on
Form 8-K:

   Exhibit     Exhibit Description
    Number

     4.1         Supplemental Indenture, dated as of Ju    ly 1    , 2022, among     CVR Energy,
               Inc., the     guarantors     party thereto    ,     and Wells Fargo Bank,
               National Association, as Trustee.
    10.1+        Amendment No. 3 to Amended and Restated ABL Credit Agreement dated June 30,
               2022, by and among CVR Refining, LP and certain of its subsidiaries,     Wells
               Fargo Bank, National Association, as administrative agent and collateral agent
               and the group of lenders from time to time party thereto    .
     104       Cover Page Interactive Data File (the cover page XBRL tags are embedded within
               the Inline XBRL document).



+ Appendices and exhibits have been omitted in accordance with SK Rule 601(a)(5). The declarant undertakes to provide in addition a copy of the annexes and the omitted documents to the SECOND on demand.

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© Edgar Online, source Previews

Opinion: How can California achieve carbon neutrality by 2045? SDG&E interviewed leading climate experts.

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From Llanos is vice president of energy supply and sustainability for SDG&E. She is a board member of the California Coalition for Clean Air and the California Environmental Voters Education Fund. She lives in San Diego.

A just and equitable energy transition aligned with California and local climate goals is not just about achieving a clean energy future as quickly as possible. It also requires prioritizing customers, energy affordability, and grid reliability.

This vision led San Diego Gas & Electric’s year-long study to identify an optimal path to decarbonize our economy by 2045 and meet California’s aggressive climate goals. For “The Path to Net Zero: A Decarbonization Roadmap for California,” SDG&E asked climate experts, including UC San Diego professor David Victor, to conduct a rigorous analysis of what is needed to enable the transition. towards clean energy.

The SDG&E study does more than propose the construction of new infrastructure. It takes a close look at the complex challenge of decarbonizing California’s economy by 2045 and offers a roadmap for success. There is a lot of work to do, and one thing is clear: our future depends on unprecedented collaboration.

The study highlights the role of consumers, who need to be able to access energy efficiency and conservation programs and embrace new technologies like electric vehicles, rooftop solar and battery storage. Consumer choices and behavior, such as when electric vehicles are charged, will shape infrastructure needs.

The study confirms that transforming transport and buildings to run on energy produced from renewable resources such as solar and wind power is fundamental to achieving carbon neutrality. For example, the share of residential and commercial electrified water heating must reach at least 96% within the next two decades. That’s why SDG&E supports local governments that choose to adopt policies requiring most new buildings to use electricity only. Electrification of new buildings now avoids costly renovations in the future.

Further electrification will naturally require much more electricity and a more robust grid. According to our study, power generation capacity would need to be increased to about four times that of 2020 to meet the anticipated demand from electric vehicles and buildings. As businesses and families rely more on electricity to meet their energy needs, it is imperative to build a state-of-the-art, reliable and climate-resilient grid.

The amount of renewable energy required in California to achieve carbon neutrality by 2045 is staggering. Our study indicates that beginning in 2023, the average amount of solar power installed each year in the state must increase by 700% from the current rate of deployment. Likewise, battery storage, wind power and other clean technologies essential to a reliable and clean grid are also set to grow exponentially over the coming decades. We are committed to working with renewable energy developers, community choice aggregators like San Diego Community Power, and municipal partners to achieve these goals.

Our study also confirms that carbon neutrality and grid reliability cannot happen with renewables and batteries alone. Clean fuels like green hydrogen will be needed for some hard-to-electrify sectors of the economy, like heavy trucking and some industrial processes. SDG&E has launched innovative green hydrogen pilot projects to learn how to take advantage of this zero-emission technology to replace natural gas in power plants, pipelines and to fuel fleet vehicles.

The roadmap for decarbonizing the California economy informs regional strategies. In San Diego, transportation remains the biggest source of emissions, which is why putting more zero-emission cars and trucks on our roads is already a regional priority.

Transitioning existing buildings from natural gas to electricity requires similar collaboration and thoughtful planning. As the transition to electrification is a decades-long process, investing in the security of the gas system must remain a priority. We also need to make sure that the thousands of highly skilled union men and women who work on the gas network are protected. Frankly, we see huge opportunities for this essential workforce as hydrogen and other clean fuels are developed as part of an overall clean energy system.

Finally, decarbonization must be done with affordability in mind. Programs, incentives and policies – including energy rate reform to ensure the transition to clean energy is affordable – need to be developed to help 900,000 SDG&E gas customers start switching to electric appliances. We see broad alignment here with climate-focused organizations that reflexively criticize anything SDG&E offers, even when we broadly share similar climate change goals and outcomes.

We know we don’t have all the answers and we can’t do it alone. We believe we are stronger together. Our 4,600 employees, who also live and work there, stand ready to accelerate the transition to clean energy. This is an open invitation to collaborate on ideas and plans, to push to electrify buildings and transportation through alliances with local governments, customers, community organizations and workers. Only by working together can we build momentum towards decarbonizing the entire economy by 2045 – a safer, stronger and healthier future.