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Six new directors appointed to the board of directors of the UCR Foundation

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The UCR Foundation Board of Directors welcomed six new members who began their two-year term on July 1.

The 45-member volunteer board of directors oversees the UCR affiliate foundation, receiving and managing the investment of an endowment of $ 257.5 million as of May 31 that supports the long-term strength of the research programs, UCR colleges and scholarships. Trustees defend UCR and advance its mission by seeking and securing private support for all of its programs.

The new members are Tony DeLucia, Ching Liu, Walter Matera, Al Stroberg, Bill Thomas and Tracy Wang.

In addition, Sue Johnson, who has served on the Board of Directors for 44 years, has been appointed Director Emeritus.

Learn more about the new members below:

Tony DeLucia ’70

A professor at Quillen College of Medicine at East Tennessee State University, DeLucia participated in several sports at UCR while first earning a bachelor’s degree in biology.

In East Tennessee, DeLucia’s primary focus is the environment and health. He credits his years of competitive racing, his studies in the UCR greenhouses, and his exceptional faculty as the inspiration to get involved in air quality and related issues throughout his career. From 2002 to 2003, he served as chairman of the board of the American Lung Association, fighting for cleaner air and to slow climate change.

Ching liu

Ching liu

Liu is the co-founder of SolarMax Technology Inc. in Riverside, a solar energy company. She has 20 years of experience in global private equity investments, having previously worked at Merrill, formerly known as Merrill Lynch.

Liu serves on the Dean’s Advisory Board of the Marlan and Rosemary Bourns College of Engineering and was an executive member of the UCR School of Business in 2013-14. In 2014, she created a SolarMax Endowment Scholarship at the School of Business.

Walter Matera ’69

Walter Matera

A retired sixth-grade teacher and career soldier, Matera received his BA in history from UCR, where he met his wife Katherine. He received his master’s degree from California State University, Long Beach, in 2000.

Two years ago he established the Katherine M. Matera Endowed Award Fund, named after his wife who died in 2014. The fund provides financial support to undergraduate and graduate students majoring in a STEM field who demonstrate also a commitment to music and the arts.

Al Stroberg ’70

Al Stroberg

A pediatric orthopedic surgeon, Stroberg was in his first weeks as a freshman at UCR when the steeple was inaugurated. He then received his medical degree from UC Irvine and did his residency at Harbor-UCLA Medical Center. He then served as a faculty member at UCLA.

He recently created the Stroberg Lecture Series at UCR School of Medicine, a regular event meant to bring together scientists and clinicians and create opportunities for collaboration.

Bill thomas

Bill thomas

Thomas has been a partner of the KPC Group for 25 years, a company that owns and operates healthcare services and facilities. He was previously a founding partner of a Riverside law firm specializing in business and real estate.

Thomas attended UC Santa Barbara, UC Hastings College of the Law, and New York University School of Law. At UCR, he served on the Dean’s Advisory Board of the School of Business, served as an executive member in 2018-2019, and created a scholarship in his name and that of his wife Earth.

Tracy wang

Tracy wang

Wang is the Director of Clinical Programs for Anthem Inc. She received her BA in Psychobiology and her MA in Public Health from UCLA. Her son, Justin, is a UC Riverside Regents Fellow studying computer science.

Wang has over 15 years of volunteer service with local and national nonprofit organizations. She has also served as president of the Troy High School Parent Teacher Student Association and a board member of the United Christian Education Center and the FHL Academy. Tracy received the California State PTA Golden Oak Service Award and the Fullerton Joint Union High School District Certificate of Appreciation for her support and contribution to Troy High School.

Knickerbocker seeks seventh term as Bethel’s first selectman

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BETHEL – Matt Knickerbocker is looking to continue his tenure of more than a decade as the city’s first selectman.

The Bethel resident for more than 35 years plans to run for a seventh term with fellow Democrat Richard Straiton as running mate.

Since their first day in office, Knickerbocker has said he and Straition have been dedicated to securing bipartisan support for the betterment of the community.

“We made it our duty to leave politics at the door and to work for every inhabitant of our city,” he said. “It would be an honor for both of us to continue to serve our city. “


Before being elected first elected in 2009, Knickerbocker served for 10 years on the city’s Board of Education. As president for seven of those years, he led the board through two major school renovations, as well as a school district curriculum alignment.


Straiton – a longtime Bethel resident – served as a justice of the peace and constable, as well as a member of local building committees.

He was a member of the Standing Construction Committee for the renovations to Frank A. Berry School and Bethel High School, and chaired the construction of Bethel Middle School and renovations to the Clifford J. Hurgin Civic Center.

Straiton said keeping the budget under control and improving the city’s finances and infrastructure were among his and Knickerbocker’s top priorities as coaches.

“Our aggressive road building program has just passed its 10th year and continues to be strong, and our high AAA bond rating has just been reaffirmed for the fifth year in a row,” he noted.

During Knickerbocker and Straiton’s tenure, there were two elementary school renovations, major upgrades to Bethel’s public water supply system, an increase in open space, and the creation of a municipal solar park in 2.5 acres.

If re-elected, Knickerbocker said expanding the renewable energy system would be one of his top priorities.

“We need to do more to improve sustainability,” said Knickerbocker, who seeks to expand the role of the city’s energy commission to include work in areas such as reducing solid waste and improving the environment. recycling system.

In addition to the city’s response to the COVID-19 pandemic, Knickerbocker and Straiton have recently been working to improve the efficiency of town hall work.

Ongoing projects include creating a new online licensing system for construction, land use, public works and health services, as well as redesigning the city’s website to provide new services. online to residents.

Knickerbocker has said he is excited about Bethel’s future and hopes to continue being the city’s first manager.

“Our community has worked together to get through this pandemic, we have invested wisely in our schools and we are ready to move our community forward,” he said.

Knickerbocker was sworn in for a sixth term after defeating Republican Pat Rist and candidate Bill Och in the 2019 election.

It’s unclear who his opponent might be this year, as Bethel’s Republican city committee has yet to announce a candidate.


Top 10 strategies for climate resilience in the CO2 basin


If 2020 and the global COVID-19 pandemic will be remembered for shining a light on the realities of our connected world, then the summer of 2021 will be remembered for the mirror he raised to the realities of the future. warming and drying for water in the Colorado River basin.

We’re on the verge of the federal government declaring a water shortage, Lakes Mead and Powell have collapsed, and any sign of replenishment is precarious at best. But unlike COVID-19, this shortage has been looming on the horizon for decades. Water managers, scientists and nonprofits like American Rivers are sounding the alarm (and have been) on the realities of a dry and increasingly demanding West.

Concerns about drought and the impacts on everything from fish to farmers are not political statements – they are real statements, backed up now by a bounty of science. The harsh reality of these truths is that the scale and pace of climate-related change in the Colorado River Basin poses a gigantic challenge, unprecedented in the history of water management.

It’s not that we haven’t tried to answer. Definitely, we have. Conservation efforts have long focused on balancing supply and demand, but these are immediate and short-term responses to a very long-term challenge. What we need now are forward-thinking strategies to adapt, respond to and mitigate the constant, cumulative and extreme risks of climate change to economies, communities, wildlife, landscapes and, at the root of it all. that, the rivers we rely on. .

In this precipice, our future demands that we invest our time, energy and financial resources boldly and immediately in strategies that will work, that will build for all of us the kind of future we want for our children.

A recent report to which American Rivers contributed, titled “Ten Strategies for Climate Resilience in the Colorado Basin,” written by Martin & McCoy and Culp & Kelly, LLP, describes these strategies (see below). To come up with this top ten list, the report’s authors asked:

  1. Could the investment help the basin adapt to ongoing climate change?
  2. To what extent is the investment reduce pressure on existing water supplies?
  3. Would the investment help to mitigate climate change?
  4. Could investments strengthen the economic resilience of communities?

The resulting 10 best investment strategies for a more resilient future are:

  1. Forest management and restorationPrioritize forest management and restoration to maintain system functionality and biodiversity
  2. Natural distributed storage – Restore highly degraded natural grassland systems to improve local aquifer recharge, water retention, reconnect historic floodplains and support productive grasslands and riparian ecosystems
  3. Regenerative agriculturePromote voluntary principles and practices of agriculture and animal husbandry that enrich soils, improve biodiversity, restore watershed health, and improve overall ecosystem function and community health
  4. Upgrading of agricultural infrastructure and operationsImprove diversion, delivery and on-farm infrastructure and operations, including irrigation systems
  5. Culture alternatives and new market avenuesDevelop on-farm operational changes and market and supply chain interventions to incentivize water conservation, for example by shifting to lower water consumption crops
  6. Urban conservation and reuseEncourage conservation technologies, indoor and outdoor conservation programs, and direct and indirect reuse of drinking water
  7. Industrial conservation and reuseEncourage modifications and upgrades to reduce water consumption and increase energy efficiency
  8. Coal Plant Retreat WaterThe purchase or reallocation of water use rights from closed or retired coal-fired power plants to be used for system or environmental benefits, or other uses
  9. Reduce dust on snowImprove land management practices to reduce the effect of dust on snow – which controls the rate of the spring snowmelt that feeds the springs of the Colorado River.
  10. Cover reservoirs and canalsImplement solutions to reduce evaporation from reservoirs and transport systems

The full report not only describes in detail the short-term next steps to advance these strategies, but includes demonstration projects, investments and action-oriented research.

But it is important to stress that these strategies cannot be implemented in a vacuum. “I” does not work under these conditions. We all depend on rivers and water, and on their continued existence. Our ability to rely on them over the long term will depend on our willingness to develop cross-sector partnerships and basin-wide funding for those investments which can be implemented consistently at a scale commensurate with the challenge. Local, state and tribal governments must be on board. Our private land partners need voluntary measures and incentives, not mandates.

And we cannot wait for calls on the river, fallow fields and drylands to act. These investments in the climate resilience of the Colorado River are needed now.


Alliant Energy Promotes Progress Towards Climate Goals, Pledges To Plant 1 Million Trees | Science and environment

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Alliant Energy pumped less greenhouse gases into the atmosphere, used less water and put forward plans to stop burning coal last year, according to a new report.

Still, the Madison-based utility company generated more than three-quarters of its electricity from fossil fuel sources, highlighting remaining challenges to phasing out greenhouse gas emissions by mid-century.

Alliant highlighted its accomplishments in a company sustainability report released on Tuesday that includes a commitment to help plant more than one million trees – roughly one per customer – over the next decade.

“We are very proud to advance a more sustainable future through our goal-oriented strategy to serve customers and build stronger communities,” CEO John Larsen said in a statement.

Alliant has reduced its carbon emissions by 42% since 2005. The company aims for a 50% reduction by the end of this decade and complete elimination by 2050, in line with what international scientists believe is necessary to avoid the worst impacts of climate change.

Overall, around a third of the electricity delivered by Alliant last year came from clean energy sources, but the report highlights large disparities between its territories.

Renewables accounted for nearly 44% of sales in Iowa, which has significantly more wind power than Wisconsin, where renewables only made up 20% of sales.


Britain plans new body to manage energy systems and meet climate goals

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A farmer works in a field surrounded by electricity pylons in Ratcliffe-on-Soar, central England, September 10, 2014. REUTERS / Darren Staples / File Photo

LONDON, July 20 (Reuters) – The UK government plans to create a new energy system operator to help the country meet its net zero emissions target, which could remove responsibilities now held by National Grid (NG.L), showed consultation papers released on Tuesday. .

Britain in 2019 became the first member of the G7 group of rich countries to set a target of net zero for 2050, which will require a huge increase in renewable electricity to wean homes off fossil fuels for heating.

“The gas and electricity grid operators are currently part of National Grid Plc, which creates a potential conflict of

an interest that can already make it difficult to effectively exercise the two existing roles … as well as the potential new roles needed to achieve net zero, “the consultation document said.

According to plans, the new Future Systems Operator (FSO) would manage the country’s electricity system, which is currently managed by National Grid’s Electricity System Operator (ESO).

The proposal comes after Britain’s energy market regulator Ofgem recommended in January the creation of an independent electricity body to help meet the target.

Ofgem had recommended that the body be completely separate from National Grid, which now oversees Britain’s energy systems. Read more

A spokesperson for National Grid said he welcomed the consultation and would work with the Department of Business and Ofgem on the role of a future grid operator, the most appropriate ownership model and any future related sales.

National Grid’s ESO became a legally separate company within the National Grid Group in 2019.

“We are driven by a common goal of helping Britain achieve net zero by 2050, and this remains our long-term priority as we work to be able to operate this country’s electricity system with zero carbon d ‘by 2025,’ a National Grid spokesperson said. ESO

said by e-mail.

Reporting by Susanna Twidale Editing by Peter Graff and Louise Heavens

Our standards: Thomson Reuters Trust Principles.


More than hot air – pv magazine Australia

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Compressed air energy storage isn’t exactly a new technology, but in recent months this old storage technology has been given new life by the emphasis on intermittent renewable energy sources. Recent large-scale air storage plants have been announced in North America and the Middle East, and now some of that hot air has reached Australian shores.

There is not much talk about compressed air energy storage (CAES) in Australia, but that may be about to change. New CAES system from Leaper Innovate Green Energies (LIGE), based in South Africa, and introduced in Australia by Essential Water and Energy Services of Queensland, unlocks the potential of CAES as a scalable energy storage system for sources intermittent clean with long life and low cost.

SCA is not a new technology of course, the first system (290 MW) was installed in Huntorf, Germany in 1978 and is still in service today. In 1988, the Alabama Electric Cooperative’s 110 MW CAES plant also began operating in North America. CAES appears to have become a more feasible solution over the past year and several large-scale projects have been announced in the United States, Israel and Canada.

The LIGE is a zero emission air battery that can be connected to the grid or to a renewable energy source to provide clean energy and even clean water. According to the Managing Director of Essential Water and Energy Services, Geoff Hill, “A 1 MW air coil can produce up to 5,000 liters of water per day in humid conditions. The amount of water produced varies depending on the humidity of the air, more rare earth metals are not used and all parts can be recycled. This 1 MW system can be housed in a single 12 meter container and would require a 225 kW solar system to recharge 1 MWh of stored energy.

With a lifespan of 30 years and a range of between 40 kWh and 50 MWh in three-phase 380 VAC 700A or 750 VDC 500A, LIGE Air batteries are now manufactured under license in Australia.

“All major regions of the world have access to their respective underground geological resources,” said Christian breyer, professor of solar economics at the Lappeenranta University of Technology in Finland, “but there are also large areas without adequate potential, at least according to our analysis”.

Recent Breyer study from CAES with fellow researcher Arman Aghahosseini found that storage technology is best suited to countries and regions that have little or no interconnection with their neighbors. “Plus a highly renewable energy system is designed at the national level,” Breyer said pv magazine, “the more relevant the CAES becomes”.

Breyer believes CAES can become crucial in the weekly storage area, rather than as a primary or seasonal storage solution. And while the study found that North America (especially western Canada) and sub-Saharan Africa were the best suited regions for CAES, Australia also has a decent distribution of good geological conditions. (see image below).

Hill says the growing need for scalable energy storage systems in the energy transition means that CAES and in particular LIGE technology “could challenge the dominant position of lithium-ion energy storage.”

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Decision-makers don’t have to choose between conservation and economic success


Among America’s public land and water programs is a program that preserves ecologically sensitive coastal areas, provides important jobs and income for communities, and serves as a platform for wildlife research and education in danger and vulnerable habitats.

The National Estuarine Research Reserve System (NERRS), established by Congress under the Coastal Zone Management Act 1972 (CZMA), has grown into a network of 29 protected estuaries and estuary-like habitats in coastal states and territories and the Great Lakes. Recently released data shows how economically these sites benefit their neighboring communities.

A study, co-funded by the National Oceanic and Atmospheric Administration (NOAA) and The Pew Charitable Trusts, the organization I work for, looked at data from four NERRS sites – Rookery Bay, Guana Tolomato Matanzas and Apalachicola in Florida and South Slough. in Oregon – and estimated that together “they generate more than $ 165 million in annual income for their communities, including $ 56.4 million in wages paid for at least 1,762 jobs.”

This study helps counter the argument that policymakers and governments must choose between conservation and economic success. But this is far from the only reason to create and maintain NERRS sites.

These reserves and their staff educate and engage millions of visitors each year and serve as a training ground for scientists and educators. The recreational activities offered by many reserves such as fishing, wildlife viewing and kayaking among others are a hit with the public and have a great economic benefit which stimulates local economies.

It’s no surprise that NERRS sites are popular in their communities and that many of the larger ones are very popular. South Slough, for example, which was designated in 1974 as the first NERRS site, has open water channels, freshwater and tidal wetlands, riparian areas and forested uplands over nearly 7,000 acres in the Coos Estuary in southern Oregon. People come here to hike, kayak, and hunt, and student programs include summer camps and field trips, while the reserve’s Coastal Training Program educates local decision-makers. According to the NOAA-Pew study, the site generates $ 6.1 million in revenue annually, supports commercial oyster farmers and serves as a fish nursery habitat.

Designating a NERRS site involves several steps, starting with the selection of a site that represents one of the 29 specific biogeographic regions detailed in the licensing legislation. This selection is made by representatives of the state government and a public university or state non-governmental organization. Potential sites undergo extensive follow-up studies before they are officially proposed to NOAA and are then finally presented to the US Secretary of Commerce for official designation.

Estuaries and surrounding wetlands are typically found where rivers meet the sea or near large bodies of freshwater – which together form some of the most productive habitats in the world. These fresh and salt water marshes, seagrass beds, mangroves, spring pools, high-altitude forests and riparian islands provide shelter and food for fish, crustaceans and birds; buffer developed areas against storms and sea level rise; and support economies based on leisure and resources.

The estuarine reserve system already protects over 1.3 million acres of Great Lakes and coastal habitats, including reserves in Hawaii and Puerto Rico, and will almost certainly continue to grow. The Biden administration, in its recent “Conserving and Restoring America the Beautiful” report, called on NOAA to expand the system and highlighted the 30th NERR, which is expected to be designated in Connecticut in January 2022. Meanwhile, Louisiana began the process of creating that state. first site. And Wisconsin is exploring the possibility of a reserve in Green Bay – the largest freshwater estuary in the world – to complement the state’s existing reserve in the St. Louis River estuary on Lake Superior.

And there is ample room and reason to expand the system: Louisiana is one of nine states and territories with ocean shores or Great Lakes that do not have NERRS sites, and there are no reservations. in nine of the biogeographical sub-regions in which the CZMA calls for representation.

Congress appropriates a fixed sum of money for the entire NERR system, which is distributed equally among the sites. In fiscal 2021, NOAA, through congressional appropriations, invested more than $ 33 million in the system, with state and academic partners adding $ 9 million. States and territories have demonstrated the desirability of reserves by continuing to designate new sites and request expanded education, research and training programs on existing reserves. This new research confirms what these jurisdictions probably already know: NERRS sites promote environmental and economic resilience and strengthen states’ outdoor recreation and tourism sectors – a quadruple victory for nature and people.

Jennifer Browning leads the work of Pew Charitable Trusts to protect coastal ocean ecosystems and marine life in the United States, Puerto Rico and the Caribbean.


Px Group and Cerulean eye green hydrogen partnership

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The operator of industrial plants px Group has agreed to partner with Cerulean Winds for the development of three onshore green hydrogen production sites in the United Kingdom.

Cerulean’s ambitious £ 10bn plans focus on building 200 floating wind turbines in the central North Sea and West Shetlands, with most of the electricity being used to power the platforms. forms offshore oil and gas, thereby reducing their emissions.

The London-based startup’s plans are contingent on Marine Scotland granting seabed leases, “even with conditions”, by the end of the third quarter of 2021, and funding provided.

If the proposals go ahead, the 1.5 GWh of excess power would be diverted from wind farms to green hydrogen power plants, which would be located in St Fergus, near Peterhead, in the Shetlands and Humberside.

Under the agreement, px Group would be responsible for the rental and ownership agreements of the sites and for obtaining planning permissions and permits.

Px, owned by Aksiom Services Group following its acquisition of the stake in private equity firm Bluewater, would also operate the hydrogen production facilities and associated onshore infrastructure, including substations and connections to the network.

The company operates the North Sea Midstream Partners gas terminal in St Fergus, which houses the Acorn carbon and hydrogen capture and storage project.

The St Fergus gas terminal in Aberdeenshire.

It also owns the Saltend Chemicals Park in Hull, which is home to the Hydrogen to Humber CCS project and Equinor Hydrogen, which is the foundation of the Zero Carbon Humber initiative.

px, headquartered in Teesside, currently has no footprint in Shetland.

Cerulean bosses have said they want to install a hydrogen plant at Sullom Voe Terminal, operated by London-listed oil company EnQuest.

They have worked closely with those behind the Orion Project, which aims to develop the electrification of offshore wind, hydrogen and platforms around Shetlands, and is primarily a partnership between the Shetland Islands Council and the Net Zero Technology Center.

Project manager Gunther Newcombe, former director of operations at the Oil and Gas Authority, said earlier this year that EnQuest was “very engaged” with Orion.

Geoff Holmes, CEO of px, said: “We are delighted to be working with Cerulean on this potentially groundbreaking project.

“As owner and operator, px Group has over 25 years of hands-on experience in developing cleaner energy projects and reducing emissions.

“The operation and management of the infrastructure that supports the UK’s energy transition is at the heart of our business and we are delighted to be able to support the decarbonization of offshore installations in the North Sea. “

Cerulean Founding Director Dan Jackson said, “The px Group’s expertise and asset base make it a valuable addition to our UKCS decarbonization proposal.

Mr Jackson again insisted that Cerulean obtain seabed leases for the wind farms.

Cerulean, which has submitted a formal request for these leases, hopes to make a final investment decision early next year, followed by first electricity in 2024.

© Provided by Big Partnership
Mark Dixon, left, and Dan Jackson, founding directors of Cerulean Winds.

Jackson said Cerulean’s timetable, which may seem optimistic, was determined by the deadlines set in the North Sea Transition Agreement, which calls for a 10% reduction in offshore emissions by 2025, 25% by 2027 and 50% by 2030.

He added: “Timing is absolutely crucial in this regard. Everything depends on the granting, even conditional, of these leases by this fall so that we can move forward on time.

“The risk of not moving quickly on basin-wide decarbonization would totally undermine the goals set out in the North Sea Transition Agreement and delay the potential to have a significant impact on reducing emissions from assets. industrialists on land. “

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Andhra Pradesh Plans Global Energy Efficiency Technology | Visakhapatnam News


VISAKHAPATNAM: The state government will invite various national and international agencies, such as the International Energy Agency, the United States Agency for International Development and the Organization for Economic Co-operation and Development through the through the Office of Energy Efficiency to collaborate with Andhra Pradesh in its energy efficiency movement.
Attending a webinar, Chief Secretary Adityanath Das said during Covid-19 last year, the state government announced financial assistance of Rs.1,100 crore to MSMEs as part of a restart program . The chief secretary asked the energy department to provide a report on the department’s initiatives and the establishment and operation of energy conservation cells at the next meeting of the executive committee.
“Andhra Pradesh would focus fully on reducing greenhouse gas emissions. It would help the Indian government to mitigate the adverse effects of climate change by adopting short and long term strategies involving all stakeholders. Andhra Pradesh is determined to become a model in the country in promoting green energy through energy efficiency and renewable energy sources, ”said Adityanath Das.
According to estimates from the Bureau of Energy Efficiency, Andhra Pradesh has a potential savings of 25%, or 16,875 million units out of a total annual energy demand of around 67,500 MU.
According to the AP State Energy Conservation Mission, the state has so far saved around 2,932 CU of energy worth Rs 2,014 crore per year through various state government programs. In order to achieve further energy savings of around CU14,000, the chief secretary suggested that the energy department prepare a comprehensive roadmap to achieve the goal.
In the context of Covid-19 and its impact and the upcoming AP State Energy Conservation Mission (SECM) Executive Committee meeting, the Chief Secretary stressed the need to continue cost-effective measures in the sector. electricity using innovative and global technologies.


MIFF is enjoying high attendance and great energy as the film festival finishes its run in 2021

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Volunteer Karen Kusiak, left, spends Sunday through the kneeling fine art photography project at the 24th Maine International Film Festival in Waterville. Kusiak greeted guests and answered questions during the exhibit at 18 Main Street in downtown Waterville. Rich Abrahamson / Morning Sentry

WATERVILLE – As Mike Perreault said, a gray and rainy Sunday was “the perfect weather for a day at the movies”.

Attendees on the final day of the 24th Maine International Film Festival in Waterville, known as MIFF, seemed to agree.

Perreault, executive director of the Maine Film Center, which is based in Waterville and manages the festival, said many moviegoers said MIFF 2021 was the first time they had watched a movie since the start of the COVID pandemic. 19 in March 2020.

“It was just nice bringing people back to the movies and enjoying movies from all over the world,” he said.

The annual festival began on July 9 and featured films at Waterville Opera House, Railroad Square Cinema, Skowhegan Drive-In Theater and Online.

Last year the festival was downsized and showed fewer films than usual, and only in online or Skowhegan Drive-In formats.

Although the festival did not reach the total number of films or attendees this year, Perreault said, there was still a high attendance – much larger than last year.

The festival ended Sunday with a closing night of “Cryptozoo”, directed by Dash Shaw, at the Waterville Opera House. The film follows the crypto zookeepers as they attempt to capture a legendary dream-eating creature and struggle with the choice of displaying the creatures in a zoo.

Earlier today, attendees enjoyed The Kneeling Art Photography Project and LumenARRT! exhibition & photobooth, which was open all week, and screenings of “The Last Election and other love stories” and “Bread in the Bones” at the Railroad Square Cinema.

Moviegoers watch the screen Sunday before the start of “The Last Election and Other Love Stories” at the 24th Maine International Film Festival at the Railroad Square Cinema in Waterville. Rich Abrahamson / Morning Sentry

Lisa Ericson and Lisa Wheeler, both of Waterville, attended the packed screening of “Bread in the Bones”. They said they had attended the festival in the past, but skipped it last year due to the pandemic and hadn’t seen many movies in the past year .

“This is my first time going to a theater since COVID,” Wheeler said.

The two said they were excited to see the film in person. Ericson said she had seen a few films earlier in the festival and particularly enjoyed “Nine Days”. She said she was thrilled to finally return to the Railroad Square Cinema.

“It’s a mainstay under normal circumstances,” Ericson said.

Thorndike’s Kenneth Copp also attended “Bread in the Bones”. He said he didn’t attend the festival last year, but earlier this week he attended the screening of Maine Shorts, which included a movie he was starring in, “The Seeker.”

While Copp has said he has watched home movies with streaming services over the past year, it was not the same as being at the movies.

“It’s really a great experience,” he said, “to be able to be with the big screen, in the room with a number of people and the camaraderie.”

For those who missed the festival or are ready to go back to see movies at the cinema, the Railroad Square Cinema is expected to reopen this Friday.

Perreault said he was grateful the festival went well and that moviegoers came out to enjoy it.

“I’m really grateful that we were able to host a festival in person,” he said. “I’m really grateful that our staff came back and worked really hard. I am super grateful for their hard work. I think people were ready to get up off the couch and celebrate watching movies together. “


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Biden changes Trump’s showerhead rule


While most shower heads still followed a 2013 rule, the former president changed the water standards in 2020, apparently to help him get his “perfect” hair.

WASHINGTON – The Biden administration is reversing an approved Trump-era rule after the former president complained he was not wet enough due to water flow limitations from shower heads.

Now, with a new president in office, the Energy Department is reverting to a standard passed in 2013, saying it provides plenty of water for good soaking and deep cleaning.

The rule change will have little practical effect, as nearly all commercially manufactured showerheads comply with the 2013 rule – despite the former president’s pet peeve.

The Energy Ministry said the action clarifies what is happening in the market. Showers that provide the additional supply of water that Trump wants are not easy to find, officials said.

Since 1992, federal law has dictated that new shower heads should pour no more than 2.5 gallons of water per minute. As new shower fixtures came out with multiple nozzles, the Obama administration set the shower head restrictions to apply to what comes out in total. So if there are four nozzles, no more than 2.5 gallons in total should come out of the four.

The Trump-era rule, finalized in December, allows each nozzle to spray up to 2.5 gallons, not just the overall showerhead.

A proposed rule change, due for publication in the Federal Register next week, reverts to the Obama-era standard. The public will have 60 days to comment before a final rule is developed.

The change will ensure consumers continue to save money while reducing water use and paying lower energy bills, the Energy Department said. Officials estimated that the Obama-era rule saved households about $ 38 per year, and the Department of Energy expects similar savings by reverting to the 2013 standard.

“As many parts of America experience historic droughts, this common sense proposition means consumers can buy shower heads that conserve water and save them money on their utility bills.” , Kelly Speakes-Backman, Acting Assistant Secretary of the Department’s Office of Energy Efficiency and Renewable Energy. , said Friday.

While speaking publicly about the need to keep his hair “perfect,” Trump made the increase in water flow and the recall of long-standing standards for keeping devices – including for light bulbs, toilets and appliances. dishwasher – a personal problem.

“So the shower heads – you take a shower, the water doesn’t come out. You want to wash your hands, the water is not coming out, ” Trump told the White House last year. “So what are you doing? You stay there longer or take a shower longer? Because my hair – I don’t know about you, but it must be perfect. Perfect.”

But consumer and conservation groups have said the 2020 rule change is foolish, unnecessary and unnecessary, especially as the West is suffering a historic two-decade mega-drought.

With four or five or more nozzles, “you could have 10.15 gallons per minute of shower head output, literally probably washing yourself out of the bathroom,” said Andrew deLaski, executive director of the conservation group. Energy Appliance Standards Awareness Project. “At a time when much of the country experiences severe drought exacerbated by climate change, there is no room for shower heads that use unnecessary amounts of water. “

DeLaski and officials from Consumer Reports said there had been no public outcry or need for change. The Department of Energy’s database of 12,499 showerheads showed that 74% of them use 2 gallons (7.5 liters) or less of water per minute, which is 20% less than the federal standard.

A 2016 Consumer Reports showerhead test found that the top-rated showerheads, including a $ 20 model, provided pleasant water flow and met federal standards.

The Department of Energy is also proposing to remove the definition of “body spray” adopted in the 2020 Final Rule. The rule allows “body spray” to circumvent Congress’ intent to promote water conservation by itself. simply based on the direction of the water flow – a side spray rather than an overhead.


Some Twinsburg parents think masks should be optional for all students


  • 99% of families want to return to campus
  • Advisory contract approved 3-2
  • The energy saving program is progressing well

TWINSBURG – Several parents from schools in Twinsburg have spoken out for and against the district’s policy on masking in buildings.

Currently, the district will make face coverings optional for students aged 12 and over, and optional for staff who work with this age group. Masking will be mandatory for students under 12, staff who work with them and for staff working with medically fragile students.

Superintendent Kathryn Powers said at the July 14 Education Council meeting that she recently met other regional superintendents with Donna Skoda of Summit County Public Health. Skoda has expressed concerns about COVID-19 variants and told districts they “may have to pivot” over the next school year. Powers added that so far, around 1,500 parents have responded to a survey to find out whether they would prefer their students to be on campus or whether they would prefer to enroll in a virtual option.

“Ninety-nine percent said they wanted to come back to campus,” Powers said. “I’m very happy with this. It shows confidence in the district.”

After:Twinsburg wants students in class, but an online option may be available

Two parents have asked the school board to reconsider mandatory face coverings for children 11 and under.

Katie McVey, who lives in Twinsburg, said she has four children in Twinsburg schools, a seventh grade, a fourth grade and twins entering first grade.

“Three out of four of them will need to mask themselves,” McVey said. “And they don’t want to do it again.”

McVey said young children are less likely to contract COVID-19 and a lower risk of serious illness, and several other districts have made masks optional for everyone.

According to information from Summit County Public Health, as of July 14, the average number of new cases over the past seven days was 10. There have been 124 confirmed and probable cases of COVID-19 in Summit County.

“There are now a low number of cases,” McVey said. “They do not justify children aged 3 to 11 wearing masks all day. Some children cannot understand others, or cannot be understood, with masks.”

McVey said a good compromise would be for masks to be optional when they’re in the classroom, when there are social distancing measures in place.

Jim Lucko, also of Twinsburg, said he agrees with McVey.

“It seems there are some people who think wearing a mask has negative effects,” Lucko said. “A lot of the things that have been decided don’t seem to take into account all the positive and negative aspects. Give parents a choice.”

However, Jeanine Gardinsky, who sent her statement to read at the meeting, said she was a nurse and warned against loosening protocols too soon.

“Once you’ve ordered a body refrigerated truck, it changes your perspective,” Gardinsky said. “And yes, we used them. The more flexible protocols would be a mistake.” She added that one family’s decision could impact other families.

“Yes, young children usually don’t develop severe symptoms, but how would you feel if a child died or had prolonged symptoms? Gardinsky asked.

Resident Michael Walker said that whatever the final decision of the school board, he hoped he would engage more with the community and seek their advice.

Advisory contract approved 3-2

The school board approved a 3-2 contract with Eric Brunton Consulting LLC in Lyndhurst for business consulting services from August 1, 2021 to July 31, 2022.

Board chair Tina Davis, board vice chair Mark Curtis and member Rob Felber voted for the contract, and board members Adrienne Gordon and Angela DeFabio voted against.

Under the contract, Eric Brunton Consulting would be paid $ 60 per hour, up to 650 hours. Payment would come from the general district fund.

Curtis said the company “has done work for us in the past.”

Powers said Brunton “spearheaded efforts to move many items” around school buildings and helped “bring district equipment and staff back to their place.” She added that Brunton was a former educator and even helped the district transportation department “a few years ago”.

Neither Gordon nor DeFabio explained why they opposed the contract, although Felber requested a discussion as the legislation was withdrawn for a separate vote. On Thursday, Gordon posted on his Facebook page that “my ‘no’ has to do with the contract which has no clear deliverables associated with it, and the general statement of work in the cover letter and the hourly rate appearing to have a big shift In my opinion. “

The energy saving program is progressing

Chad Welker, district business manager, said the district’s energy conservation projects, which focused on lighting, mechanical systems and controls, were progressing well.

“The high school interior lighting is 99% complete,” Welker said. He added that the lighting at High School, RB Chamberlin Middle School and Dodge Middle School has been completed, and lighting in the rest of the middle and middle schools “is underway.”

The remaining lighting work, as well as the lighting for Wilcox and Bissell Primary Schools, is expected to begin at the start of the school year, Welker said. Outdoor lighting upgrades will begin in late summer or fall.

Obsolete checks at middle and middle schools have been replaced, Welker said.

“We were using a dial-up modem control system,” Welker said. “We were really excited to get the upgrades. “

The entire district-wide control system is expected to be up and running by this winter, Welker said.

Work on the boiler and pump systems at Wilcox, Bissell and Dodge is expected to begin this month and is expected to be completed this fall, Welker said. Additionally, cooling upgrades are planned for the end of the cooling season, and other mechanical upgrades are expected to be completed by this winter.

In March, the school board approved a nearly $ 2.3 million contract with Gardiner Service Co. in Solon to update lighting and HVAC systems in the five school buildings.

After:Twinsburg school board approves contract for utilities after debate

Journalist April Helms can be contacted at [email protected]


Can Indians invoke state sovereignty to prevent the seizure of assets abroad in the Cairn Energy case?

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News of a French court allowing Cairn Energy to seize Indian assets in France sent shock waves through New Delhi. Cairn Energy has attempted to seize Indian assets in multiple jurisdictions to recover $ 1.7 billion owed by India. Last year, an India-UK Bilateral Investment Treaty (BIT) arbitration tribunal indicted India for breaching its obligations by imposing retroactive taxes on Cairn. Investors in Devas Multimedia have also asked a US federal court to seize the assets of Air India in order to recover compensation awarded by an arbitral tribunal.

It is a terrible advertisement for India at a time when it wishes to project itself as a privileged destination for foreign investments. This episode puts India in the league of countries like Pakistan, Congo, Venezuela, Russia and Argentina, which have been part of seizure proceedings abroad due to their failure to comply with arbitral awards. international.

Some suggest that India can invoke state immunity to stop the appropriation of its assets abroad. State immunity is a well-recognized doctrine in international law which protects a State and its property from the jurisdiction of the national courts of another country. This covers both immunity from jurisdiction and execution. Despite the universal acceptance of this doctrine, there is no international legal instrument in force administering its implementation in the municipal legal systems of different countries. Attempts are underway to create binding international law on the application of state immunity rules such as the United Nations Convention on Jurisdictional Immunities of States and their Property (UNSCI). However, this convention has yet to be ratified by 30 countries – the minimum number required to bring it into force, in accordance with Article 30 (1) of the UNSCI. India has signed the convention, but has not ratified it.

In the absence of an international legal instrument, countries address issues of immunity through their national laws and judicial practices. While some common law jurisdictions like the United States and the United Kingdom have statutes codifying state immunity, in many civil law countries the judiciary deals squarely with matters of state immunity. Some jurisdictions are viewed as favorable over others with respect to the enforcement of investment treaty arbitration awards. This encourages “forum shopping”, where foreign investors approach countries where the possibility of executing the award is higher.

Over the years, the doctrine of state immunity has shifted from absolute immunity (immunity from all foreign proceedings unless the state consents) to restrictive immunity (immunity only for the sovereign functions of state). Overall, the larger jurisdictions follow the concept of restrictive immunity. In the context of the enforcement of investment treaty arbitration awards, this implies that state property that performs sovereign functions – such as property of diplomatic missions, central bank assets, etc.

However, properties used for business functions are available for entry. The International Court of Justice in State Jurisdictional Immunities (Germany v. Italy: Greece intervening) has recognized the exception for commercial goods. But, in practice, it is not always easy to draw an exact line separating the two types of property.

In the case of India, the most popular commercial assets that foreign investors would target for foreclosure are the global assets of Indian public sector companies such as Air India. To link the assets of these PSUs, it would be necessary to show that these companies are only the “alter ego” of the Indian state.

If India is to go after these companies, it should carefully study the state immunity laws in the various jurisdictions where foreclosure proceedings are likely to be initiated. State immunity can be invoked to resist the seizure of sovereign property, but not of commercial property. In addition, fighting business will consume an enormous amount of time, money and resources, in addition to attracting bad press internationally. A better option would be to admit that the retrospective change in the tax law was a mistake and comply with the international ruling, ending this international embarrassment.

This column first appeared in the print edition on July 17, 2021 under the title “Misstep on Cairn”. The author is Senior Assistant Professor, Faculty of Legal Studies, University of South Asia.


Biden officials invite unions and business groups to the White House

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Biden administration officials are inviting worker and business groups to the White House on Friday to strategize on how to push through the bipartisan $ 579 infrastructure deal, according to an administration official.

Why is this important: By welcoming groups as disparate as the Chamber of Commerce and the Ironworkers, senior White House officials Anita Dunn and Cedric Richmond are working to build a broad coalition to ensure that the bipartisan deal on ‘hard’ infrastructure becomes law.

  • Dunn and Richmond will brief the groups on the overall schedule for the Senate to consider the deal and stress the importance of the organization’s support for the whole.
  • The deal could collapse amid concerns about funding some of the new spending, with some Republicans now forgoing additional funds for the Internal Revenue Service enforcement.

Driving the news: Senate Majority Leader Chuck Schumer (DN.Y.) surprised lawmakers Thursday morning when he has set an ambitious timetable for the bipartisan infrastructure proposal, which would kick into action on the ground next week.

  • The bipartisan group of 10 negotiators met for hours on Thursday afternoon and were joined by White House officials Steve Ricchetti, Brian Deese and Louisa Terrell.
  • Democratic and Republican negotiators have a variety of challenges ahead, with concerns about how to foot the bill and prevent Republicans from defecting.

Go further: In addition to the Chamber, the private sector will be represented by Business Roundtable, the National Association of Manufacturers, the Outdoor Industry Association, the American Road & Transportation Builders Association, the American Clean Power Association, the National Retail Federation and the Zero Transportation issue. Association

  • The union side will also be represented by the Sheet Metal Workers International Association, the United Steelworkers and the Transportation Trades Department (TTD).
  • Last week, the Chamber and the AFL-CIO announced a coalition of groups – from manufacturing – to retail that will come together to adopt the infrastructure package.


Julie Snyder of HHS reflects on sustainability efforts throughout her career



By Nance Ebert, Contributing writer

Ainsley Majer, Jillian Johannes, Audrey DeZutter and Allison Davis are planting fall moms as part of the Hudson High School Earth Council, led by now retired teacher Julie Snyder last year.

HUDSON – Having just completed a 35-year career in teaching, Julie Snyder is passionate about environmental awareness and our carbon footprint.

She lives the life she preaches because composting, recycling and not using plastic are second nature to her, her family and, after many years, some of her students.

Recycling and “Earth Council”

Snyder arrived at Hudson High School in 2000 and taught biology and more until his retirement this spring. Arriving in town, she brought with her the emphasis on recycling and sustainability that prevailed at her previous school, Cambridge Ringe and Latin.

Snyder served as an advisor to the HHS Earth Council, ultimately working with students to add paper recycling bins to the school.

“I know the owners of Sterilite in Townsend,” she explained in a recent interview. “Steve Stone was able to give me the bins at cost. We have recycling bins for every classroom and every office.

Over time, Snyder and his students expanded the program, seeking new large square bins.

Her students participated in a fundraiser by selling candy. Subsequently, manager John Staplefeld eventually purchased the rest of the necessary bins.

Ban on plastic bags and education

A few years ago, Snyder’s Earth Council group joined Green Hudson, a group of community activists that promotes environmental education, recycling, energy conservation and more.

“They were also helpful in securing a ban on plastic bags in Hudson,” Snyder recalled. “My students have helped distribute flyers at Walmart, schools and local grocery stores. We have helped promote the seriousness of this problem and sought community participation.

Snyder credits students at nearby Lincoln High School Sudbury for leading the way, through youth activism and education efforts, to banning plastic bags in their towns.

Seeking to innovate in their own school community, members of the Earth Council recently worked on an advertisement to show the use of viable alternatives to plastic bags.

“Some of the green bags provided are biodegradable, but the carbon footprint is not good,” Snyder explained. “Another good idea is to collect all used plastic bags and take them to the grocery store where they collect them. These are then used to make cleaner bags.

Passing on ecology to a new generation

Snyder strongly believes that environmental awareness efforts work best when led by children, especially younger children.

“It creates all this education and other stuff [in the community] are more likely to respond with a change in behavior when a child asks them to participate, ”Snyder said.

Although she has officially retired from her education career, she told the Community Advocate earlier this spring that she was eager to find another faculty member who would keep her core efforts alive and thriving in his old school.


Two Arizona Residents Died After Power Outage This Year, Regulators Say | Local News

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According to UES’s report to regulators on the death of customer Kingman, the utility cut off the customer’s power on May 13 for non-payment of $ 1,885, after the customer breached three payment plans distinct since April 2020.

The client’s name and address and other information have been redacted from the public version of the UES report, due to privacy concerns.

The customer had established the service in 2010 and had been disconnected for non-payment and reconnected six times from 2011 to May 2019, when UES said they found evidence that the customer had removed the company’s electricity meter and had it replaced by a stolen meter at another address.

The utility made a compromise to charge the customer $ 620 for the reconnection, including $ 370 for the estimated cost of the electricity used by the fake meter, but no payment was made, and the account was closed and the backlog referred to a collection agency.

The customer restored service in April 2020 but failed to follow three separate payment plans, prompting UES to cancel the payment agreement and demand full payment of $ 1,885 at the end of April this year. .

After sending a disconnection notice and trying to reach the customer by phone for the next two weeks, UES shut off the customer’s power on May 13.

On June 10, UES reported that a person dealing with the customer called the utility to ask what it would take to restore service. The caller was told that UES would accept an upfront payment of 25%, with a new payment plan for the rest, but no payment was made, the utility said.


China’s share of bitcoin mining drops as Kazakhstan grows

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In this photo illustration, the Bitcoin logo is seen on a mobile device with the flag of the People’s Republic of China in the background. (Photo illustration by t / SOPA Images / LightRocket via Getty Images)

Budrul Chukrut | SOPA Pictures | LightRocket | Getty Images

LONDON – China’s share of global bitcoin mining has plunged this year as Kazakhstan has become the world’s third largest player in the industry, according to a Cambridge University study.

The study, published Thursday by the Cambridge Center for Alternative Finance, shows that China accounted for less than half (46%) of the energy used for bitcoin mining in April, down sharply from 75.5 % in September 2019. That was before the authorities ordered a crackdown. on cryptocurrency mining.

Kazakhstan saw its share of global bitcoin mining almost six times larger over the same period, rising from 1.4% to 8.2%. The United States, meanwhile, fell from 4.1% to 16.8% to take second place, while Russia and Iran were fourth and fifth, respectively, for bitcoin mining.

Bitcoin mining, where transactions are validated and new units produced, is a very energy intensive process. Computers all over the world are trying to solve complex mathematical puzzles in order to complete a transaction. Whoever wins this race is rewarded with bitcoin.

The rise in the price of bitcoin over the years has prompted more and more people to mine cryptocurrency, which has led to the creation of an entire industry focused on the manufacture and sale of mining equipment. crypto. The more people who mine bitcoin, the more energy is consumed.

This has raised concerns about the potential impact of bitcoin on the environment, especially since most of the mining activity has been carried out in China, which relies heavily on coal-fired power. Authorities in several major Chinese regions, including Sichuan, Xinjiang and Inner Mongolia, have cracked down on cryptocurrency mining in recent months.

But Cambridge researcher Michel Rauchs says bitcoin’s energy mix is ​​difficult to determine. During the rainy season, Chinese miners often flocked to Sichuan, a province rich in hydropower in the southwest.

Rauchs’ data shows that Sichuan’s share in China’s total bitcoin mining power has increased to 61.1%, from 14.9% at the start of the peak rainy season, while Xinjiang’s share has increased. decreased from 9.6% to 55.1% over the same period.

It also suggests that many bitcoin miners fled China for neighboring Kazakhstan, a former Soviet republic, before its crypto crackdown in June. According to Bloomberg, Kazakhstan has more than 22 gigawatts of electrical capacity, most of which comes from coal and gas stations.

Rauchs, head of digital assets at Cambridge Center for Alternative Finance, created an index in 2019 to show how much energy bitcoin consumes. The scholar said he was working on a new model that illustrates the environmental impact of bitcoin mining.

Bitcoin’s poor environmental credentials have made it a controversial asset at a time when social and environmental responsibility has become a priority for investors. In May, Tesla CEO Elon Musk said he would stop accepting bitcoin for vehicle purchases unless mining shifts to more sustainable energy.


Hydrogen is a response to climate change. Getting it is the hard part

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Rachel Smith has lived the bumpy journey of green hydrogen, from scientists’ dream to an industry that may be on the verge of a commercial breakthrough. Engineer, two decades ago she started working in a converted barn on the first clean combustion gas production devices.

Now she’s part of a team racing to build giant machines that will use electricity to separate hydrogen from water for big companies like Royal Dutch Shell and Orsted, the Danish offshore wind developer.

“We’ve been through those short years,” said Smith, executive director of ITM Power, which is run from a new, expansive plant in Sheffield, a dilapidated center for steel mills and coal mines. “We play in the adult world rather than in research labs.”

A consensus is forming among governments, environmentalists and energy companies that significant reductions in carbon emissions will require large amounts of a clean fuel like hydrogen.

Proponents of hydrogen have identified more than two dozen potential applications of the element to reduce carbon emissions. It could be used to power long haul trucks and train and plane travel. Energy companies are experimenting with mixing hydrogen and natural gas for home heating and cooking.

In total, more than 200 large-scale projects are underway to produce or transport hydrogen, representing investments of more than $ 80 billion. Daimler and Volvo, the world’s largest truck makers, plan to start mass-producing long-haul electric trucks in a few years that run on devices called fuel cells that convert hydrogen into electricity. Water will be the only emission from the trucks.

“You can imagine an economy that relies almost entirely on very clean electricity and very clean hydrogen,” said Ernest Moniz, Secretary of Energy in the Obama administration and now CEO of the Energy Futures Initiative, an organization of research.

But he warned that “a lot has to happen” for a gas now mainly used in specialist fields to become “part of the backbone of the energy system.”

Among the obstacles to be overcome: creating enough hydrogen of the right kind, at a price that industries and consumers can accept.

Hydrogen is the most abundant element in the universe, but it must be separated from another substance, such as water or fossil fuels. For example, industries like petroleum refining use large amounts of so-called gray hydrogen which is primarily made by separating hydrogen from natural gas. And this process generates more greenhouse gas emissions than the combustion of diesel.

In fact, less than 5% of the hydrogen produced today is emission-free, and this type costs more than twice as much to manufacture as the gray version – $ 5 per kilogram versus $ 1 to $ 2 per kilogram, according to Bernstein. , a study solidify. It is also more expensive than conventional fuels, such as diesel.

Smith’s company in Sheffield is one of the most promising sources of hydrogen produced without producing emissions. It makes devices called electrolysers, which use electricity to split water into hydrogen and oxygen. This hydrogen is emission-free provided the electricity comes from sources such as wind and solar.

Electrolysers have been around for a century, but analysts say ITM’s technology, known as the polymer electrolyte membrane, has the advantage of being able to turn on and off quickly – a big advantage for machines intended for be coupled with wind and solar parks, the output of which fluctuates with the sun and the breeze.

ITM says the value of its contracts has tripled in the past year to reach 154 million pounds, or roughly $ 213 million. Analysts at Barclays, the UK bank, estimate that a $ 65 billion market for such equipment could materialize over the next decade.

The prospect of buying a weapon against climate change is pushing investors to look to ITM, as well as similar companies like

in Norway and McPhy Energy in France. Even though ITM is losing money, its market value is around £ 2.3 billion. The share price has quadrupled since early 2020.

ITM now has 310 employees. When it was still a startup, Peter Hargreaves, one of its original investors, had to save the company four times with his own money, he said.

“There was no guarantee that the business would be successful, that people would embrace the hydrogen economy,” said Hargreaves, founder of Hargreaves Lansdown, a brokerage firm. He added that he had now been “well rewarded”.

Until recently, ITM focused on building small devices for facilities such as gas stations, some operated by Shell, which served a relative handful of hydrogen-powered vehicles. Now he is pursuing much larger projects capable of producing enough hydrogen to power fleets of trucks or buses. It has partnered with Linde, the German supplier of industrial gas, which owns 17% of ITM’s capital. This year it moved to the Sheffield plant – the size of two football fields, it would be the largest electrolyzer plant in the world – with the aim of producing facilities on an industrial scale.

The bowels of these gas factories are units with tightly stacked cells, like cafeteria trays, where the separation of hydrogen from water occurs. Many modules can be linked together to form very large installations which in turn can produce abundant clean hydrogen.

Recently, Shell started operating one of ITM’s largest electrolysers at a refinery in Germany. Electricity will come from wind farms and hydrogen will be used to remove sulfur from fuels. Later, an expanded facility can produce hydrogen for an aviation fuel that burns with fewer emissions.

ITM is also working on a plant to supply up to 45 tonnes of hydrogen per day to an industrial area in the Humber region in north-east England. The electricity would come from an offshore wind farm.

Bigger machines coupled with cheaper renewable energies should improve the hydrogen economy. Researchers at McKinsey, the consulting firm, expect green hydrogen to be cheap enough by 2030 to compete with other energy sources.

For now, however, clean hydrogen projects require government subsidies, and customers should always be prepared to pay more for the energy they produce.

For hydrogen to become a major energy source, other big changes will be needed, such as regulations that encourage the use of green hydrogen in industry and heating. It will also need better infrastructure and consumers ready to adopt new habits.

To take an example, hydrogen has been slow to establish itself as a fuel for cars despite the benefits that include longer runs than contemporary electric batteries and the ability to refuel in minutes.

Shell has already built a network of hydrogen refueling stations in Europe, but German automakers have chosen to focus on battery-powered vehicles. There are only 1,200 hydrogen fuel cell vehicles in Germany, and Shell concedes that hydrogen attracts few customers.

At a Shell petrol station in Frankfurt, the hydrogen pump was in the back, where customers clean the inside of their cars. A digital sign to display the price of hydrogen was placed near the entrance to the station, but it was dark.

Industry projections “are overly optimistic about how easy this is going to be,” said Stephanie Searle, director of the fuels program at the International Council for Clean Transportation in Washington. “It’s going to take a lot of commitment to get there.


Climate activists hail Dem’s budget spending on clean energy


WASHINGTON (AP) – Environmental groups have hailed a sweeping $ 3.5 trillion domestic spending plan announced by Democrats, saying it would make “transformational investments” in clean energy and jobs and put the nation on the path of reducing greenhouse gas emissions by at least 50% by 2030. The plan would also move the country towards a carbon-free electricity grid by 2035, with 100% of US electricity powered by solar, wind, nuclear and other clean energy sources.

But with few details released and narrow Democratic majorities in the House and Senate, the deal reached Tuesday night was far from settled.

At least one prominent Democrat, West Virginia Senator Joe Manchin, has indicated he will oppose plans to cut subsidies on fossil fuels such as coal and natural gas. Both fuels are crucial to the economy of his rural state.

“Anyone going in a direction where they think they can get away and have no fossil (fuel) involved, that’s just plain wrong,” said Manchin, the most conservative Democrat in the chamber and chairman of the committee. senatorial for energy and natural resources.

The elimination of fossil fuels, which are the main contributors to global warming, “will not happen,” Manchin told reporters on Wednesday. “It can’t happen and it doesn’t matter but makes the world worse.”

Manchin’s comments were out of step with most Democrats and climate activists, who said the proposed budget deal meets President Joe Biden’s climate change targets of 80% clean electricity by here 2030 and 50% reduction in greenhouse gas emissions in the economy in a decade, while advancing environmental justice and American manufacturing.

The framework would fund a so-called clean electricity standard that would force the electricity grid to move away from fossil fuels such as coal, oil and natural gas, and replace them with renewable sources such as solar, wind power. and hydraulics, as well as nuclear energy. , which currently supplies around 20% of the country’s electricity.

“Given the enormity of the climate crisis, environmental injustice and economic inequalities, it is essential that this agreement serves as a floor – not a ceiling – for transformational investments in clean energy, jobs and justice, ”said Tiernan Sittenfeld, senior vice president of the League of Conservation Voters.

“Any infrastructure legislation must tackle the backlog of repairs” to roads, bridges and public transport systems, as well as the challenges of climate change and racial inequalities, added Deron Lovaas, senior lawyer at the Natural Resources Defense Council, another environmental group. .

Senator Tina Smith, D-Minn., Called the inclusion of a clean electricity standard in the budget agreement “a cornerstone of the gradual and practical transformation towards a clean energy future that we urgently need.” .

Senator Jeff Merkley, D-Ore., A member of the Senate Budget Committee and one of the negotiators on the budget framework, said the plan takes “bold steps” to address the climate crisis already felt by millions people in the parched West, where triple-digit temperatures have claimed hundreds of lives in recent weeks.

“We need to do even more, but it paves the way for America to finally start working to reduce carbon pollution,” Merkley said.

Climate activists and progressive groups have called for a clean electricity standard as a central part of the Democratic plan only, which follows a more limited bipartisan infrastructure proposal announced last month. Many Democrats have said they will not vote for a budget package that does not include a strong electricity standard that puts the United States on track to meet the goals of the Paris Climate Agreement, which Biden joined on his first day in office.

The budget deal also provides tax incentives for clean energy and electric vehicles, authorizes a Civilian Climate Corps, and spends billions on wildfire prevention and sustainable forestry.

The proposed investments in clean energy, production tax credits and other climate-related policies “all show the kind of scale and ambition that is right up to the moment,” Sen Brian said. Schatz, D-Hawaii, who heads a uniquely Democratic climate committee. change.

Meanwhile, the Senate energy panel on Wednesday approved a bill drafted by Manchin to spend $ 95 billion on infrastructure, including major investments in technology to “capture” and store the carbon emissions produced by coal-fired power plants. The stand-alone bill, approved 13-7, could be included in a bipartite infrastructure plan under negotiation. Three Republicans – Steve Daines of Montana, Lisa Murkowski of Alaska and Bill Cassidy of Louisiana – backed the plan in committee.


German coal-fired power plant closes after just six years to generate wind power

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Going green is paying off, if you can believe it.

A coal-fired power station in Hamburg that generates 1,600 MW was permanently closed on July 7, according to a local information service, barely six years after its initial opening. And, the owner of the Moorburg plant, Vattenfall, aims to pursue a new hydrogen project at the same site, designed to turn offshore wind power into green hydrogen.

And it will significantly reduce the country’s greenhouse gas emissions.

German coal company chooses to close early for a price

The company participated in the German government’s decommissioning payment to submit to an early shutdown, ceasing operation of the market at the end of 2020 and remaining operational only as a safeguard for other energy sources. This strand is part of a larger initiative of the German government in accordance with the a coal exit law which requires every coal-fired plant to cease operations by 2038. Lignite (or lignite) plants face a strict timetable for shutdowns, but coal-fired and small lignite-fired plants may participate in the country’s bidding option, potentially closing early for a price if it is financially preferable to continue to generate electricity through fossil fuels.

NGO Robin Wood has said that the Moorburg shuttering will reduce annual greenhouse gas emissions by nearly 9 million tonnes (about 8 million metric tonnes), but dissenting critics have suggested that Germany would do its best to shut down older, more environmentally harmful factories first. In contrast, the owner of the Moorburg plant, Vattenfall, saw a drop in profits of the power plant, in particular in the context of the increase in the price of CO2 emissions under the European Emissions Trading System, which applies to all operators of coal-fired power plants. Therefore, Vattenfall chose to take the tender and opt for early downgrading.

In the wake of Germany’s and the EU’s greenhouse gas reduction targets for 2030, the discourse has intensified around the possibility of reviewing the coal exit agreement, in order to impose a faster exit date for the closure of coal-fired power plants. While this may be appropriate, it is also a reminder of how quickly European countries are moving away from carbon-intensive energy infrastructure. This is a powerhouse that lasted barely longer than a US presidential term – virtually unheard of for power plants in general, which are naturally built to last much longer.

Germany takes giant leaps towards green energy goals

As for the conversion of the Moorburg plant into a green hydrogen plant from offshore wind power, the project is expected to start in 2025, and it will be one of the largest hydrogen plants in all of the world. Europe, according to Vattenfall, in a report of Clean energy wire. The company also said the now defunct coal-fired power plant had “the infrastructure necessary for large-scale production of hydrogen from renewable energies such as offshore wind,” the company said. German director of Vattenfall, Christian Barthélémy, in the report.

In addition, the project could “demonstrate to Europe and the world that the hydrogen economy is real and can significantly contribute to the decarbonization of the energy system and heavy industry,” added the director of Mitsubishi Heavy Industries Kentaro Hosomi in the HAVE report. This makes Moorburg one of the first coal-fired power plants to opt for Germany’s fast-closing tender, and it brings the country closer than ever to commissioning its power generation capacity. coal-fired electricity by 2038 at the latest.


The launch of a laboratory gives new energy to our future in renewable energies

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A new lab that will help build a greener and climate-resilient power grid has been officially opened at Australian National University (ANU).

Opened today by ACT Chief Minister Andrew Barr, the Distributed Energy Resources (DER) Lab researches and tests new technologies such as batteries, solar panels and electric vehicles that underpin the energy grids of the future.

ANU Vice-Chancellor Professor Brian Schmidt said the DER lab is helping build Australia’s low-carbon energy system of tomorrow “today”.

“Now more than ever, Australia needs to design an energy system suitable for the 21st century,” said Professor Schmidt.

“As Australia moves away from large centralized generators powered by fossil fuels to a decentralized grid made up of a vast array of distributed renewable energy assets, we need to find innovative ways to enable this vast amount of energy. renewable energy to enter the electricity grid safely and efficiently. .

“It is through research conducted in the Distributed Energy Resources Lab that we, as a company, will be equipped with the technology and capabilities that will help smooth and accelerate this vital energy transition.

“The lab will provide a fail-safe power system to quickly, efficiently and safely develop and test technologies and systems before deploying them into the power grid.

“I want to thank the ACT government for their support and vision and for making this happen. “

The DER Lab was announced in 2019 with $ 1.5 million in funding from the ACT government. The National Facility Design and Build Project is a partnership between ITP Renewables, UNSW Canberra, evoenergy and ANU.

Battery Storage and Grid Integration Program Operations Director Heather Logie said that over the past two years, the DER Lab team has embarked on an ambitious work program .

“Over the past few years, the world has gone from simply decarbonizing the electricity sector to decarbonizing the entire economy,” said Logie.

“We are now in a race to ‘electrify everything’. This means we need to build an energy ecosystem powered by millions of connected and different devices, including batteries, vehicles and even air conditioners.

“The DER Lab is helping lead the charge. The plug and play configuration means researchers, government and industry have the opportunity to test this new technology and how it can be harnessed by our energy grid before the switch is activated.

“The DER Lab is exactly what the world needs right now to build a more resilient power grid in response to climate change.

“We are honored to undertake this work and to help build a cleaner, greener energy future. “

ACT Chief Minister Andrew Barr said: “The new Distributed Energy Resources Lab strengthens Canberra’s position as a national leader in renewable energy innovation and collaboration.

“Supported by a $ 1.5 million Priority Investment Program grant in 2019, the DER Lab is an Australian first, carried out in partnership between ANU, UNSW Canberra, IT Power and Evoenergy. It builds on the significant investments that industry and the ACT government have already made to develop Canberra’s renewable energy sector.

“The facility will open up new opportunities around renewable energy capacity which will ultimately translate into new investment, economic growth, lower energy bills and new jobs for the Canberrans.”

/ Public distribution. This material is from the original organization and may be ad hoc in nature, edited for clarity, style and length. See it in full here.


Californians were again urged to conserve energy on Monday to relieve stress on the state’s electricity grid – CBS Sacramento


SACRAMENTO (CBS13) – California electricity regulators call on residents to save energy on Monday as they expect energy demand to increase with higher temperatures and a wildfire in southern Oregon affecting electrical transmission lines.

The California Independent System Operator (Cal ISO) issued the flexible alert for 4 p.m. and 9 p.m. on Monday. During the Flex Alert, residents are advised to set thermostats to 78 degrees or higher, avoid using major appliances, and turn off all unnecessary lights and items that use electricity.

READ MORE: Beckwourth Complex fire destroys more than 86,000 acres, leaving some homeless

Cal ISO said the Bootleg Fire, which burned more than 150,000 acres in Oregon, still has an impact on the transmission lines that carry power in California.

“The rapid Bootleg fire set off transmission lines on Friday and Saturday, restricting the flow of electricity from the Pacific Northwest to California and other states,” Cal ISO said in a press release Sunday night. . “The power supply to California’s ISO service territory, which covers about 80% of the state, has been reduced by 3,500 megawatts as a result of the fire. “

READ MORE: Drunk driver in the wrong direction was arrested on Hwy 99 north of Galt, CHP says

Governor Gavin Newsom on Saturday issued an emergency proclamation authorizing the emergency use of auxiliary ship engines to relieve pressure on the state’s electricity grid.

Despite new high heat on Sunday, power regulators said the grid was sufficient to avoid calling for more energy savings, as they did on Friday and Saturday.

Extreme triple-digit temperatures have blanketed northern California since Thursday, with highs reaching 113 in Sacramento over the weekend.

NO MORE NEWS: Former Stockton fire chief among 2 killed in plane crash in response to forest fire in Arizona

Sacramento broke and tied several records with high temperatures during the ongoing heat wave. The city has already tied a previous record for most days at 110 degrees in a year and posted the second hottest day on record for the city center with this Saturday at 113 degrees.


Power companies call for security for home growth • Oakland County Times

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The Power Behind Potted Plants: Power Companies Call for Home Security to Grow

The Power Behind Potted Plants: Power Companies Call for Home Security to Grow

(ARMM, July 10, 2021)

Lansing, MI – Michigan’s Marijuana Regulatory Agency – in conjunction with Michigan Public Service Commission, Bureau of Fire Services, Dept. of Environment, Great Lakes, and Energy, and Michigan State Electricity Providers – produced and distributed materials to educate Michigan residents who grow marijuana in their homes on the best ways to protect themselves, protect their neighbors and their community while continuing to protect Michigan’s electricity grid.

Michigan residents with medical marijuana patient and caregiver registration cards have been able to grow a limited number of marijuana plants in their homes since 2008. After Michigan voters legalized marijuana in 2018, Michigan residents over the age of 21 were also able to grow up to 12 plants in their homes. These developments have resulted in an influx of new residential marijuana crops that are having a major impact on Michigan’s power grid.

Since the energy demand for growing marijuana plants is so intense – often requiring non-stop grow lights, ventilation systems and other high demand equipment – it is essential for residential marijuana growers to understand the impact that increased energy use in their homes can have on their safety, the safety of their communities, and the safety of their homes electricians and first responders.

A Michigan resident who grows 12 plants in a home can increase that home’s energy demand by 2.75 times. Maximizing the 72-plant limit for a caregiver’s residential medical marijuana grow operation could result in energy consumption equivalent to the average use of 10.75 homes.

Residential marijuana growers should understand the proper steps to take when planning their grow operation to ensure their safety, as well as the protection of their home and utility equipment. Overloading electrical equipment can create fire hazards and damage electrical equipment, which can also lead to prolonged power outages in your community.

Growing marijuana in a home is a legal right and it should be done in a safe and responsible manner. Before starting a home culture, individuals should:

~ become familiar with local rules and ordinances

~ hire a licensed electrical contractor

~ contact their local utility to ensure their electrical service is sized appropriately to meet increased energy demand

When residential generators work with their power company, significant damage can be avoided, including:

~ Unplanned large overloads can cause catastrophic failure of utility and customer equipment. If a significant customer load is added before the energy supplier has a chance to examine and the utility equipment is damaged as a result, the customer causing the problem may be held responsible for the costs of associated repair. The could be long delays in restoring service. The utility needs to determine the cause of the problem, know the true load sizes, and upgrade their equipment to serve it.

~ In addition to damaging the customer’s equipment which added the heavy load, there could be possible damage to the property of other customers receiving service from the same transformer. This damage can range from home appliances to sensitive electronics, smart TVs, computers and more.

~ The dangers of structural fire are by far the worst-case scenario for domestic marijuana crops. When circuits are overloaded beyond their rated capacity, it becomes a danger and the cost associated with this type of incident is immeasurable as it can cause death in addition to widespread damage to the electrical system and personal property.

The Michigan Public Service Commission website has important information for Michigan residents, including:

Michigan Electric Utilities Contact Information

MPSC Utility Provider Search (Geographic Search)

Michigan Electric Utility Service Area Map

The backgrounder on Electrical Safety: Residential Growth can be found here or by visiting Michigan.gov/MRA.


What drives Cairn to tackle Indian assets abroad

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Britain’s oil and gas major Cairn Energy has secured an order from a French court to seize Indian government assets worth around $ 24 million in Paris. It also opened proceedings in the United States against Air India. At the bottom of those moves is a $ 1.2 billion arbitrage and retrospective tax law in India. Here’s what you need to know.

Why is Cairn UK suing the Indian government?

The case dates back to 2006, when the British company Cairn decided to consolidate its Indian assets under a single holding company called Cairn India Ltd. For this, Cairn UK had to transfer shares under the control of Cairn India Holdings to Cairn India. Ltd. At that time, the company had not paid any tax on the whole process.

But a few years later, when Cairn India Ltd launched an initial public offering to sell around 30 percent of its stake in the company, mining conglomerate Vedanta recovered most of the shares. However, Cairn UK was not allowed to transfer its 9.8 percent stake in Cairn India to Vedanta, as Indian officials felt the company had to first pay a tax liability resulting from the transfer of its shares to Vedanta. its Indian entity.

So in 2014, she filed a $ 1.4 billion tax claim against Cairn India, although the company was acquired in 2011 by Vedanta with the 9.8% of the outstanding shares still held by its based parent company. UK. Indian authorities then seized those shares in 2014, along with the dividends Vedanta owed Cairn Energy for its stakes in the Indian company.

This prompted Cairn UK to move the arbitration tribunal in The Hague, the Netherlands, against the Indian government, claiming that India had violated the terms of the bilateral investment treaty between India and the UK. by imposing a retrospective tax on it. The treaty offers protection against arbitrary decisions by stipulating that India would treat UK investments in a “fair and equitable manner”.

What is the retrospective tax case?

The reason the Indian tax authorities made a tax claim to Cairn in 2014 for a deal that happened in 2006 was that at the time there was no provision to force a transfer of shares from a company registered elsewhere to an Indian entity. It was with Vodafone’s acquisition of a stake in Hutch’s Indian operations that the whole retrospective tax situation emerged.

After Vodafone secured its stake in Hutch by paying $ 11 billion, Indian tax authorities requested $ 3 billion as part of the deal. But when the Supreme Court ruled that Vodafone could not be required to pay any tax, the then UPA government at the Center passed a law that required the payment of retroactive tax on any transaction after 1962 in which the shares of a non-Indian company were transferred to an Indian holding company.

Vodafone had also approached the arbitral tribunal in The Hague against the Indian tax bill and asked the tribunal to dismiss the imposition by the Indian authorities. Likewise, Cairn won a court award of $ 1.2 billion last year for what he considered to be damages suffered by the company as a result of the seizure of his shares by Indian officials. But India did not accept the court’s decision and requested that the order be set aside.

What happened now?

Armed with the arbitration tribunal’s order, Cairn UK reportedly identified $ 70 billion in Indian government assets in countries like the UK, US, Canada, Singapore, France, the Netherlands Stockings, etc. that he can ask the courts of those countries to freeze so that he can recover the price of $ 1.2 billion.

This is how a French court last month issued an order freezing around 20 Indian properties in Paris, including in an upscale locality. In addition, in the United States, the company has reportedly identified the Air India offices in New York as an asset that it will ask US authorities to freeze to help it collect its contributions. He reportedly told US courts that Air India was owned by the Indian government and that the entity was like its “alter ego” and could be held responsible for government debts.

What can be the next steps?

The Indian government can go to settle the matter with Cairns and the company has indicated its preference for such a resolution. Cairn said he was ready to seek “a friendly settlement agreed with the Indian government to bring this matter to an end.” But he stressed that “in the absence of such a settlement, Cairn must take all necessary legal measures to protect the interests of its international shareholders”.

Reports say the government is evaluating all options, including legal options, in response to Cairns’ decision to target Indian assets.

Read all the latest news, breaking news and coronavirus news here


Texas power companies seek to shift storm preparedness costs onto consumers

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Thanks to soaring energy costs during the February freeze that crippled the state and killed hundreds of people, Texans will pay billions of dollars in higher gas and electricity bills for decades.

Now energy companies are asking to pass millions, if not billions, of additional storm costs onto taxpayers.

Last month, Gov. Greg Abbott promulgated new rules to bolster an energy grid that has stranded Texans for a week of below freezing temperatures. “In the end, all that needed to be done was done to fix the power grid in Texas,” he said at the time.

A major element of Senate Bill 3 was the requirement that power companies withstand future freezes, which lawmakers failed to do after a winter storm in 2011 froze electrical equipment and caused power outages.

Still, the new law doesn’t say who should pay for upgrades. In recent deposits with the Texas Public Utility Commission, several large power generation companies have said residents – not the investor-owned companies themselves – should cover the cost of waterproofing their equipment.

Hearst Newspapers documented how 20 million Texans lost power in a deadly freeze after state lawmakers dismissed a decade of warnings about the increasingly vulnerable power grid.

Read the series at www.houstonchronicle.com/failures-of-power.


Because the new requirements “represent a societal judgment that requires additional investment in additional extreme weather,” it makes sense that the public foot the bill, Houston-based Calpine Corp. said in a filing.

The companies said that if they had to bear the costs of weatherization, it could make the Texas network less reliable.

Absorbing the costs could make some companies uncompetitive in Texas’ cut-throat power market, forcing them to take generation facilities offline, said Texas Competitive Power Advocates, who represent the power generation companies.

“Businesses without cost recovery will be forced to decide whether to invest in capital improvements or retire or put these marginal units on the back burner on a seasonal basis,” he said in a filing.

Taxpayer advocates have said it is outrageous asking Texans to pay essential trade costs on behalf of the same power companies that contributed to the near collapse of the grid five months ago by not properly preparing their equipment .

“Here we go,” said Tim Morstad, associate state director for AARP Texas. “Private utilities that pocket profits in good times are now looking to put charges on taxpayer bills to pay for improvements they should have made long ago. “

With the billions in storm-related costs that consumers are already paying, “we’re already in our great-grandchildren,” said Jim Boyle, former state legal counsel, who represents consumers in utility matters. . “How many times do we have to take a hit?” “

Cost estimate: $ 430 million per year

The inadequate weatherization of production equipment was not the only reason the Texas grid nearly collapsed.

Natural gas production plummeted when wellheads and pipelines froze. Poor communication between the electricity and gas sectors caused the failure of some gas production facilities when their electricity was cut. This interrupted the gas supply to production companies that needed it to generate electricity.

Yet one of the main goals of SB 3 was to prevent a future winter disaster by ensuring that the equipment that powers the state grid could cope with extreme weather conditions.

After the winter storm of 2011, when frozen equipment caused rotating power outages for two days over Super Bowl weekend, state lawmakers vowed to ensure customers would be protected from the events. extreme weather.

But electric utilities and large industrial consumers have protested that mandatory winterization would be too expensive. At the end of that year’s legislative session, the only weatherization bill to be passed only required electric companies to file their winter plans with the Public Utilities Board every year.

This time around, the new law requires producers and transportation companies to insulate their equipment enough to withstand a future severe storm. Failure to do so could result in a penalty of $ 1 million per day.

Still, the details of what weatherization will look like have been left to the utilities commission. The agency has until September to draft the necessary regulations, spokesman Andrew Barlow said. In the meantime, the parties who will be affected by the new law have submitted comments and suggestions.

Several power companies have cautioned against a single rule, noting that a production facility in Lubbock may require very different cold protection than in Houston. Older factories may also have different needs than modern equipment.

Companies also noted the challenge of installing insulation, windbreaks and heaters while having to protect the same production equipment from the intense summer heat several months later. “The commission should determine whether certain cold preparation requirements have a corresponding reduction in summer production,” wrote Vistra Corp.

Because the details remain unresolved, estimates of the costs of mandatory weatherization have varied considerably. Some researchers put it to billions of dollars.

El Paso Electric declared expenses $ 4.5 million to winter two generators. An April study by the Federal Reserve Bank of Dallas fixed the cost of wintering the entire Texas energy system at $ 430 million per year. The study concluded that it was a reasonable expense, compared to the damage the February storm caused to the state’s economy, estimated at between $ 80 billion and $ 130 billion.

Taxpayers will likely end up paying many of the new mandatory storm preparedness costs. Transportation companies can apply to the Public Utilities Board for authorization to charge higher rates to recover extraordinary costs. Municipal utilities and co-ops can get money from local governments or members to upgrade their equipment.

A new threat to the network?

In a regulated market, producers typically recover these additional business costs by asking regulators for permission to pass them on to taxpayers. But in Texas’ deregulated energy market, companies are bearing those costs themselves in exchange for less government oversight and the possibility of greater profits.

In their documents, however, the companies said having to spend millions of dollars on the new requirements could force them to downsize their generating fleet, which would mean less electricity when the Electric Reliability Council of Texas, the state’s grid operator, needs it the most.

“Imposing potentially costly demands on production resources … and leaving the discussion of the associated costs for another day, will likely lead some production resources to conclude that participation in the ERCOT market does not make economic sense when evaluating costs and risks, causing resources to prematurely retire or never get built, ”wrote Exelon Generation Co. in its file.

“Such a result would exacerbate reliability issues on an isolated power grid that shows signs of being increasingly strained (even during non-peak months), contrary to the legislative mandate.”

Too bad, replied Morstad of the AARP. Energy companies that weathered before the February storm were able to afford their upgrades while remaining competitive, he said.

“Why should companies that failed to install weather protection be rewarded with a financial advantage over generators that did the right thing?” ” he said. “The deregulated production market does not protect homeowners from bankruptcy or bankruptcy. It’s part of trust in the market. If a business cannot cover its required costs, it goes bankrupt and restructures its financing or sells its production assets to another owner who will pay the necessary costs.

Whether state officials expected companies or the public to cover the costs is unclear. Power companies say Abbott signaled he wanted generators to be able to recoup their costs when led the legislature to impose weatherization but also “to ensure the necessary financing”.

Consumer advocates respond that lawmakers have had ample opportunity to approve public funding for weatherization – one failed the invoice would have used money from the state rainy day fund – but chose not to. This suggests that they intended companies to pay for it, advocates say.

Asking taxpayers to bear the special costs incurred by production companies “would be a radical departure” from the deregulated Texas system that has been in place for two decades, said Doug Lewin, a clean energy advocate who heads the consultancy firm Stoic Climate and Energy.

Thanks to the mixed messages, “I don’t have a clear signal on what the legislature meant,” said Caitlin Smith, energy analyst for AB Power Advisors.

For now, heads of state seem willing to let the tea leaf reading continue. Abbott, Lieutenant Governor Dan Patrick and Senator Charles Schwertner, author of SB 3, did not all answer questions about the financial intent of the new weatherization legislation.

[email protected]


Kissimmee Utility Authority achieves high scores for customer satisfaction


Responding quickly to customer concerns, maintaining high system reliability and having knowledgeable and courteous employees have helped Kissimmee Utility Authority continue to achieve high marks for overall customer satisfaction in 2021, according to third-party survey results published by the public service.

The 38-question telephone survey, conducted by Glastonbury, Connecticut-based research firm GreatBlue Research, Inc., measured customer satisfaction by examining eight organizational characteristics.

Assessment of organizational characteristics

      • Communicate with customers: 93.1%
      • Respond quickly to customer questions and complaints: 95.9%
      • Help customers use energy savings: 90.4%
      • Be open and honest about company operations and policies: 91.6%
      • Maintenance of modern and reliable infrastructure: 94.8%
      • Provide good service and value for the cost of electricity: 92%
      • Community involvement: 91.1%
      • Overall satisfaction with KUA: 94.9%
      • Average positive rating: 93.0%

Out of the company’s eight characteristics, KUA achieved an average positive rating of 93.0% in 2021 among residential customers, an increase of 1.6 percentage points from 91.4% in 2020. That’s true. explained by increases in six of the eight characteristics, the largest increases being recorded for “providing good service and value for the cost of electricity” (+4.8 percentage points).

Compared to GreatBlue’s national database of national utility customers, KUA’s ratings for all eight organizational characteristics were higher than ratings given by utility customers nationwide and in Florida. The biggest difference between KUA customers and Florida utility customers was recorded for “helping customers save energy,” which was 38.3 percentage points higher among KUA customers surveyed and 36.2 percentage points above the national average.

Out of the same eight company characteristics, KUA achieved an average positive rating of 87.6% in 2021 among business customers, an increase of 3.6 percentage points from 84% in 2020. This can be explained. through increases in all eight characteristics, with the largest increases being recorded in “responding quickly to customer questions and complaints” (+8.1 percentage points).

About three-quarters of residential respondents said they were “very satisfied” or “somewhat satisfied” with KUA’s overall response to the COVID-19 pandemic.

About GreatBlue Research, Inc.
GreatBlue Research Inc. is a full-service, in-house market and public policy research firm using a variety of methodologies including telephone, email, online surveys, focus groups, and one-on-one interviews.


Do SBM Offshore NV (AMS: SBMO) investors pay above intrinsic value?

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Does the SBM Offshore NV (AMS: SBMO) share price for July reflect its true value? Today we’re going to estimate the intrinsic value of the stock by taking expected future cash flows and discounting them to their present value. The Discounted Cash Flow (DCF) model is the tool we will apply to do this. It may sound complicated, but it’s actually quite simple!

We generally think of a business’s value as the present value of all the cash it will generate in the future. However, a DCF is only one evaluation measure among many, and it is not without its flaws. If you would like to know more about discounted cash flow, the rationale for this calculation can be read in detail in the Simply Wall St.

See our latest review for SBM Offshore

What is the estimated valuation?

We have to calculate the value of SBM Offshore a little differently from other stocks because it is an energy services company. In this approach, dividends per share (DPS) are used because free cash flow is difficult to estimate and often not reported by analysts. This often underestimates the value of a stock, but it can still be a good comparison to the competition. The “Gordon Growth Model” is used, which simply assumes that dividend payments will continue to increase at a sustainable growth rate forever. For a number of reasons, a very conservative growth rate is used that cannot exceed that of a company’s gross domestic product (GDP). In this case, we used the 5-year average of the 10-year government bond yield (0.1%). The expected dividend per share is then discounted to its current value at a cost of equity of 9.6%. Compared to the current price of € 12.7, the company looks reasonably expensive at the time of writing. The assumptions in any calculation have a big impact on the valuation, so it’s best to take this as a rough estimate, not precise down to the last penny.

Value per share = Expected dividend per share / (Discount rate – Perpetual growth rate)

= US $ 1.1 / (9.6% – 0.1%)

= 9.4 €

ENXTAM: SBMO Discounted Cash Flow July 10, 2021

Important assumptions

The above calculation is very dependent on two assumptions. One is the discount rate and the other is cash flow. If you don’t agree with these results, try the calculation yourself and play with the assumptions. The DCF also does not take into account the possible cyclicality of an industry or the future capital needs of a company, so it does not give a full picture of a company’s potential performance. Since we view SBM Offshore as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which takes debt into account. In this calculation, we used 9.6%, which is based on a leveraged beta of 2,000. Beta is a measure of the volatility of a stock relative to the market as a whole. We get our average beta from the industry beta of comparable companies globally, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable company.

To move on :

While a business valuation is important, ideally it won’t be the only analysis you review for a business. The DCF model is not a perfect equity valuation tool. Preferably, you would apply different cases and assumptions and see their impact on the valuation of the business. For example, changes in the company’s cost of equity or the risk-free rate can have a significant impact on valuation. What is the reason why the stock price exceeds intrinsic value? For SBM Offshore, we have gathered three relevant elements to take into account:

  1. Risks: For example, we discovered 3 warning signs for SBM Offshore (1 is a little worrying!) That you should know before investing here.
  2. Future benefits: How does SBMO’s growth rate compare to that of its peers and the broader market? Dig deeper into the analyst consensus count for years to come by interacting with our free analyst growth expectations chart.
  3. Other strong companies: Low debt, high returns on equity and good past performance are fundamental to a strong business. Why not explore our interactive list of stocks with solid trading fundamentals to see if there are other companies you might not have considered!

PS. The Simply Wall St app performs a daily discounted cash flow assessment for each ENXTAM share. If you want to find the calculation for other actions, just search here.

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This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in any of the stocks mentioned.
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Do you have any feedback on this item? Are you worried about the content? Get in touch with us directly. You can also send an email to the editorial team (at) simplywallst.com.


Mysterious Second Entity Challenges $ 2.2 Billion in VLSI / Fortress Patents; IP Edge files nearly 50 new complaints; NPE K. Mizra targets ISPs

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File number action Applicant Respondent Patent 1: 21-cv-00917 Class Swirlate IP LLC [IP Edge] Sensitech Inc. 7154861
7567622 1: 21-cv-00919 Class Altair Logix LLC [IP Edge] Spreadtrum Communications USA Inc. 6289434 2: 21-cv-05278 Class BelAir Electronics, Inc. Valfre, LLC 7941195
10097766 2: 21-cv-00238 Class RightQuestion, LLC [Bjorn Markus Jakobsson] Samsung Group 10824696
10929512 1: 21-cv-00929 Class PF Prism IMB BV; Warner-Lambert Co. LLC; Pfizer Qilu Pharmaceutical Co., Ltd. 10723730 1: 21-cv-00930 Class Crimson IP LLC [IP Edge] Enghouse Networks (United States) Inc. 8868070 1: 21-cv-00932 Class Crimson IP LLC [IP Edge] Mobileum, Inc. 8868070 1: 21-cv-00934 Class Crimson IP LLC [IP Edge] Valid Secure Packaging, LLC 8868070 1: 21-cv-00935 Class Heritage IP LLC [IP Edge] Boston Scientific Corp. 6854067 6: 21-cv-00686 Class Decapolis Systems, LLC [Raymond Anthony Joao] Conceptual Mindworks, Inc. 7490048
7464040 5: 21-cv-05078 Class AT&T Services, Inc
AT&T, Inc. Voip-Pal.com, Inc. 10880721
8630234 1: 21-cv-03508 Class Hydro Net LLC Cie Winegard 7187706 1: 21-cv-00951 Class AO Smith Company
AOS Holding Company Water Heating Technologies Corp.
Ariston Thermo USA, LLC 8375897 1: 21-cv-00954 Class Invincible IP, LLC [IP Edge] Citrix Systems, Inc. 9635134
9479472
8938634
9678774
8954993 1: 21-cv-00955 Class Invincible IP, LLC [IP Edge] Nutanix, Inc. 9635134
8938634
9678774 1: 21-cv-00964 Class Orbit Licensing LLC [IP Edge] OnApp, Inc. 9497035
9578040 6: 21-cv-00690 Class DexCom, Inc. Abbott Laboratories
Abbott Diabetes Care Sales Corp. 10980452
10702193
10702215
10993642
11000213 1: 21-cv-00968 Class P Tech, LLC Arthrex, Inc. 10517584
10881440
10376259
9814453
9999449
9579129 1: 21-cv-00916 Class Swirlate IP LLC [IP Edge] Ametek, Inc. 7154861
7567622 6: 21-cv-00681 Class Xiros, Ltd. DePuy Synthes, Inc.
Medical Device Business Services, Inc.
DePuy Synthes Sales, Inc.
Chad Connor, MD
Depuy Orthopedics, Inc.
et al. 10835266
9125674
10835265
9265511 8: 21-cv-01133 Class Hyper Ice, Inc, Merch Source, LLC 10912708 1: 21-cv-00926 Class Digital Cache, LLC [Oso IP, LLC] NetApp, Inc. 6851015 1: 21-cv-00942 Class Lecrew Licensing LLC [IP Edge] His bone 9516370 1: 21-cv-00945 Class Mellaconic IP LLC [IP Edge] Fantasia Trading, LLC 9986435 1: 21-cv-01774 Class IP Tunnel LLC [IP Edge] QSC, LLC 7916877 1: 21-cv-01922 Class Amphastar Pharma inc. Eli Lilly & Co. 7517334 2: 21-cv-05300 Class Infinilux Company Nicor, Inc. 1: 21-cv-00952 Class Cephalon, Inc.
Eagle Pharmaceuticals, Inc
Teva Pharmaceuticals International GmbH Health Agreement
Intas Biopharmaceuticals 9034908
9144568
9579384
9597399
9572887
9572797
9265831
9572796
9000021
8609707
10052385
9597398
10010533
9597397 1: 21-cv-00953 Class Orbit Licensing LLC [IP Edge] Wowza Media System, LLC 9497035
9578040 1: 21-cv-00956 Class Invincible IP, LLC [IP Edge] Alibaba Cloud US LLC 9635134
9479472
8938634
9678774
8954993 1: 21-cv-00960 Class Invincible IP, LLC [IP Edge] NetApp, Inc. 9635134
9479472
8938634
9678774
8954993 1: 21-cv-00962 Class Orbit Licensing LLC [IP Edge] Tencent America, LLC 9497035
9578040 1: 21-cv-01780 Class Fairway IP LLC [IP Edge] Hitron Technologies America Inc. 7184405 6: 21-cv-00689 Class Xylon Licensing LLC [IP Edge] First National Bank of Bastrop 8719165 6: 21-cv-00692 Class Liberty Patents, LLC [Antonelli, Harrington, & Thompson LLP; Jon Rowan] Lattice Semiconductor Corp. 8458496
8127156
7509504 1: 21-cv-00970 Class Internet Media Interactive Corp. Sightline Media Group, LLC 6049835 1: 21-cv-00977 Class Abbott Laboratories
Abbott Diabetes Care Limited DexCom, Inc. 10959654
10820842
10945647
10952653
11000216
10973443
10827954
10874338
10966644
10881341
11013440
10945649 3: 21-cv-13247 Class Auspex Pharms., Inc.
Teva pharmaceutical Lupine Limited 9233959
9814708
9550780
9296739 6: 21-cv-00695 Class XR Communications, LLC Microsoft 10715235 4: 21-cv-00512 Class Michigan Motor Technologies, LLC [Equitable IP] Jaguar Land Rover Ltd.
Tata Motors Ltd. 6558260
6581565
6736122
6581574
6557540
8909482 1: 21-cv-00981 Class Astex Therapeutics Ltd
Novartis MSN PVT LABORATORIES., LTD.
MSN Pharma inc. 9416136
8415355
8685980
8962630
8324225 6: 21-cv-00679 Class Grecia Estate Holdings LLC [William Grecia] Starbucks Company 8402555 2: 21-cv-00234 Class Jabaa, LLC Foot Locker, Inc. 7480637 1: 21-cv-00933 Class Crimson IP LLC [IP Edge] Truphone, Inc. 8868070 1: 21-cv-00938 Class Orbit Licensing LLC [IP Edge] Akamai Technologies, Inc. 9497035
9578040 1: 21-cv-00940 Class Lecrew Licensing LLC [IP Edge] Bang & Olufsen America, Inc. 9516370 1: 21-cv-00947 Class AO Smith Company
AOS Holding Company Rheem Manufacturing Co. 8375897 1: 21-cv-00949 Class Orbit Licensing LLC [IP Edge] Red Hat, Inc. 8839195
9578040 8: 21-cv-01568 Class Harmony Licensing LLC [IP Edge] Roper Technologies, Inc. RE42219 5: 21-cv-01260 Class Mellaconic IP LLC [IP Edge] Engineering Company 9986435 6: 21-cv-00682 Class BJ Energy Solutions, LLC EVOLUTION GOOD SERVICES, LLC 9395049 6: 21-cv-00687 Class ADT Security Company
ADT Vivion, Inc. 8976937
9286772 2: 21-cv-00407 Class Axcess Global Sciences
Pruvit companies New U Life Corp
New U Life Disk 10736861 2: 21-cv-00241 Class K. Mizra LLC [Ginegar IP, Charles Jourdan Hausman] AT&T Communications, LLC
AT&T, Inc. 8958819 1: 21-cv-03507 Class Lecrew Licensing LLC [IP Edge] Dynaudio North America Inc 9516370 1: 21-cv-05685 Class Bobcar Media, LLC DEUTSCHE TELEKOM AG (d / b / a TMOBILE), T-MOBILE USA, INC., SAMSUNG ELECTRONICS CO. LTD., And SAMSUNG ELECTRONICS AMERICA, INC D736675
D652353
8220854
8690215
D678823
7942461 3: 21-cv-00981 Class Cozy Comfort Company LLC The Coozzy D859788
D905380 5: 21-cv-05110 Class Apple Voip-Pal.com, Inc. 10880721
8630234 1: 21-cv-00971 Class Live Media Company Kaltura, Inc. 10694142
9161068
10200648
10848707
10038930
9467728
10674109 1: 21-cv-03558 Class Shaoyun Wu Partnerships and one-member associations identified in appendix “A”, the 2: 21-cv-01147 Class Integrated Sansi LED lighting Lighting Defense Group LLC 8939608 1: 21-cv-00616 Class Unirac, Inc. Ironridge, Inc.
Esdec, Inc. 8128044
7434362 2: 21-cv-03705 Class Heritage IP LLC [IP Edge] Canon, Inc. 6854067 3: 21-cv-01550 Class IP Mcom, LLC [Mcom IP Holdings, LLC] Avaya Holdings Corp. 8862508 6: 21-cv-00701 Class Smart Mobile Technologies LLC Samsung Group 8472936
8761739
9191083
9756168
9019946
8824434
8442501
8842653
9084291
9614943
9049119
8472937 1: 21-cv-00913 Class Magnacross [IP Edge] Cubic society 6917304 1: 21-cv-00920 Class Stormborn Technologies LLC [IP Edge] GeoTab, Inc. RE44199 1: 21-cv-00922 Class Golden IP LLC [IP Edge] Rhapsody International, Inc. 9397627
8755763 6: 21-cv-00676 Class Digital Cache, LLC [Oso IP, LLC] Panasonic Corp. 6851015 8: 21-cv-01132 Class Hyper Ice, Inc. Merchsource, LLC 1: 21-cv-00927 Class Digital Cache, LLC [Oso IP, LLC] Pure Storage, Inc. 6851015 1: 21-cv-00931 Class Crimson IP LLC [IP Edge] IDEMIA Identity and Security USA, LLC 8868070 1: 21-cv-00936 Class Heritage IP LLC [IP Edge] Cardan, Inc. 6854067 1: 21-cv-00939 Class Lecrew Licensing LLC [IP Edge] Audio Pro USA, Inc. 9516370 1: 21-cv-00943 Class Orbit Licensing LLC [IP Edge] CodePen, Inc. 8839195
9578040 1: 21-cv-00948 Class Orbit Licensing LLC [IP Edge] Limelight Networks, Inc. 9497035
9578040 1: 21-cv-22362 Class Stormborn Technologies LLC [IP Edge] Skypatrol, LLC, RE44199 1: 21-cv-01262 Class Truveris, Inc. SkySail Concepts, LLC 10817920 6: 21-cv-00684 Class Live Media Company Haivision Systems, Inc. 2: 21-cv-00242 Class K. Mizra LLC [Ginegar IP, Charles Jourdan Hausman] Sprint Company
T Mobile 8958819 2: 21-cv-00243 Class K. Mizra LLC [Ginegar IP, Charles Jourdan Hausman] Verizon Communications
Cellco Partnership, Inc. 8958819 5: 21-cv-00086 Class Belt Speed, LLC Qorvo, Inc. 10791565
10999856
10887893
8873500
9883520
6987955
10602528
9379769
8542643
7903608 1: 21-cv-03503 Class Heritage IP LLC [IP Edge] Tanita Corp. of America, Inc. 6854067 1: 21-cv-00959 Class Invincible IP, LLC [IP Edge] Digital Ocean, LLC 9635134
8938634
9678774 3: 21-cv-13240 Class Auspex Pharms., Inc.
Teva pharmaceutical Aurobindo Pharma, Ltd. 9233959
10959996
9296739
9550780
8524733
9814708 6: 21-cv-00694 Class XR Communications, LLC Hewlett Packard 10715235 1: 21-cv-00982 Class AstraZeneca Still 10183020 1: 21-cv-00988 Class Bel Power Solutions, Inc. Monolithic Power Systems, Inc. 6949916
7456617
7049798
6936999
7000125
7080265 6: 21-cv-00698 Class IP Mcom, LLC Diebold Nixdorf, Inc. 8862508 2: 21-cv-00896 Class Zunum Aero, Inc. Safran Electrique & Energie, SAS
Boeing
Safran Helicopter Engines, SASU
Safran Corporate Ventures, SAS
Safran SA
et al. 1: 21-cv-00914 Class Magnacross [IP Edge] Infinite Electronics International, Inc. 6917304 1: 21-cv-00918 Class Digi Portal LLC [IP Edge] Uber Technologies, Inc. 5983227
9626342
8352854
7171414
7565359 1: 21-cv-00921 Class IP Tunnel LLC [IP Edge] Fender Musical Instrument Company 7916877 6: 21-cv-00677 Class Grecia Estate Holdings, LLC [William Grecia] Facebook, Inc. 8402555 6: 21-cv-00680 Class Flexiworld Technologies, Inc. [Quarterhill f/k/a Wi-Lan] Roku, Inc. 11029903
10768871
9042811
10140073
9836259
9965233 2: 21-cv-00866 Class Swirlate IP LLC [IP Edge] Zetron, Inc. 7154961
7567662 8: 21-cv-01130 Class Center one Lumen Technologies, Inc. fka Centurylink, Inc. a Louisiana company 8724643
7486667 1: 21-cv-00937 Class Heritage IP LLC [IP Edge] VivaChek Laboratories, Inc. 6854067 1: 21-cv-00944 Class Mellaconic IP LLC [IP Edge] Canary Connect, Inc. 9986435 6: 21-cv-00685 Class Bluestone Enterprises Inc. Uber Technologies, Inc. 9921077
10502583 2: 21-cv-00240 Class Orange Electronic Co. Ltd. Autel Intelligent Technology Corp., Ltd. 8031064 2: 21-cv-13177 Class Astellas US LLC
Medivation LLC
Medivation Prostate Therapeutics LLC
Astellas Pharma
Regents of the University of California Sandoz 7709517
8183274 1: 21-cv-05691 Class Orbit Licensing LLC [IP Edge] EidosMedia, Inc. 8839195
9578040 1: 21-cv-03705 Class Heritage IP LLC [IP Edge] Canon, Inc. 6854067 6: 21-cv-00691 Class Xylon Licensing LLC [IP Edge] Amarillo National Bank 8719165 6: 21-cv-00693 Class Liberty Patents, LLC [Antonelli, Harrington & Tohmpson, LLC; Jon Rowan] NXP USA, Inc. DBA NXP Semiconductors USA, Inc.
NXP
NXP semiconductors 8458496
8127156
7509504 1: 21-cv-00969 Class Novartis Micro-laboratories 8927574
7314938
8168655
8367701
7928122
7745460
9447077
9353088
7790743
9216174
9085553
9890141
10124000
8592450
8084047 3: 21-cv-13219 Class Endobotics, LLC Medtronic, Inc.
Medtronic 7648519
8083765
7147650
8105350 8: 21-cv-01595 Class 2BCom, LLC [Markman Advisors] Digi International, Inc. 6885643
7876736
6928166
7251237
7460477 4: 21-mc-80157 Class Garrity Electrical Services Samsung Group 3: 21-cv-13320 Class Orexo United States, Inc .; Orexo Sun Pharmaceuticals Industries Limited
Pharmaceutical Sun 10874661
10946010 1: 21-cv-11098 Class Blue Engine Biologics, LLC Arteriocyte Medical Systems, Inc. 6811777
9320762
8741282 6: 21-cv-00696 Class Carolyn W. Hafeman LG Corp. 9021610
9672388
10325122
10789393
9390296
9892287


A little less noise, a little more signal

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The Oil and Gas Authority (OGA) was created in 2015 to maximize the economic recovery (MER) of the North Sea. Five years later, it launched its net zero strategy.

The agency is now walking a fine line.

On the one hand, there are calls for no new production capacity to be approved in the UKCS. The NGOs cite the Net Zero Energy path of the International Energy Agency (IEA) where, “Beyond the projects already initiated from 2021, there are no new approved oil and gas fields. For the development “.

On the other hand, the historical approach to upstream regulation seeks to maximize production but this has not addressed the resulting greenhouse gas emissions.

The happy medium is not comfortable, but the OGA must stick to it.

Even at a theoretical level, the IEA’s approach only works on a series of potentially questionable assumptions.

Denmark, for example, has canceled future licensing rounds. He did not say he would stop approving the development under existing licenses.

It will be increasingly difficult for industry and regulators to ignore end-use emissions, whether considering new licenses or development plans for existing assets. Regulatory regimes may choose to reduce emissions by preventing developments at the local level, but, in a global market, higher prices will require new production elsewhere.

To govern (or to regulate) is to choose. There is no point in pretending that there will be no winners and losers no matter which route you take. But where there is no clear and solid policy, the industry as a whole (and with it, sectors like floating offshore wind that rely on its capital and expertise) will suffer.

The OGA focuses on minimizing emissions from production. The government is working on a “climate compatibility checkpoint” and a new environmental assessment for future licenses. He did not propose a more stringent line on end-use emissions in the context of the development plans of existing licensees.

With several development plans pending approval, this is a key point. We agree that the UK should show ‘climate leadership’, but we do not believe that the distinction between new and existing projects should be dismissed out of hand or, for that matter, new exploration that may meet the criteria of the United Kingdom. checkpoint.

In all plausible energy scenarios, the UK will consume a significant amount of oil and gas for some time. Reduce domestic production and imports will increase – most likely from jurisdictions where the upstream industry’s carbon footprint is heavier.

The OGA has already pointed out that UKCS gas has a lower carbon footprint than imported LNG. We would like to avoid the worst of both worlds where we import hydrocarbons which have a larger carbon footprint, while having exported jobs and investments upstream.

And globally, the most promising mechanisms to encourage the shift from fossil fuels to clean energy rely on discouraged investments in assets that risk becoming stranded as demand for their production drops or becomes unprofitable due to rising carbon prices.

These approaches are likely to be weakened rather than reinforced by regulatory decisions that retroactively freeze assets in which considerable sums have already been invested.

There is a big difference between changing the rules of the game for new entrants and changing the rules mid-match for those who are already on the pitch.

And, ultimately, the best way to regulate end-use emissions is on the demand side. The least likely “net zero by 2050” scenario is one that is achieved without steadily increasing carbon pricing that reflects the full environmental and social costs of emissions.

Ideally, this should be defined globally. In practice, a lot can be achieved through unilateral action that incorporates a carbon tax at the border, to incentivize emitter-exporters in other jurisdictions to clean up.

A healthy political debate on climate policy is essential, but regulatory decision-making must be transparent, predictable, consistent and based on realism.

Dentons is the world’s largest law firm, connecting talent to the world’s challenges and opportunities in more than 75 countries. Dentons legal and business solutions benefit from a deep roots in our communities and award-winning advancements in customer service, including Nextlaw, Dentons innovation and strategic advisory services. Dentons’ polycentric and goal-oriented approach, commitment to inclusion and diversity, and world-class talents challenge the status quo to advance client and community interests in the new dynamic. www.dentons.com

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Why the inventory of Meta Materials crashed today

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What happened

Metamaterials (NASDAQ: MMAT) the stock slumped as much as 14% on Wednesday, the day after the company announced a new glucose monitoring prototype. The materials innovation company initially saw its stocks appear on the news yesterday, however, today’s stocks have returned all of those gains and more. As of 11:45 a.m. EDT, the stock was down 10.8%.

So what

On Tuesday, Meta Materials announced the conclusion of a multi-year project to develop a non-invasive home glucose detection device. The prototype allows patients to measure their blood sugar without drawing blood. According to the press release, the prototype has yet to go through studies and obtain regulatory approval, indicating that the product is far from commercially available. However, it is a step in the right direction for Meta Materials to bring its products to market.

Image source: Getty Images.

Meta Materials didn’t start trading on the Nasdaq stock exchange until June 30 after a reverse merger with Torchlight Energy Resources, an oil and gas producer (it is considering selling all of its energy assets). The company has raised more than $ 250 million under the deal to tackle advanced materials technology. With less than $ 1 million in sales last quarter, the company is still in start-up mode and it may be years before Meta Materials begins to turn a profit.

Now what

With a market cap close to $ 1.8 billion and barely any sales, let alone earnings, any Meta Materials shareholder should expect more volatility going forward. The company has ambitious goals in the materials sector, which could lead to cutting-edge technology that will become commercially successful. But at the moment, it doesn’t have any proven products, which makes the stock a highly speculative bet for anyone considering buying stocks.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


BayWa RE acquires a German portfolio of 700 MW – reNews

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BayWa RE acquired German wind developer NWind, comprising a 700 MW portfolio of 60 wind projects.

With this new addition, BayWa RE has a pipeline of 2.5 GW wind projects under development in Germany.

General manager Rainer Heyduck said: “The acquisition of NWind fits perfectly with our development strategy in Germany.

“To meet the targets for renewable energy production and emission reductions, the German wind market is poised for further growth over the next few years.

“With the acquisition of NWind, we are uniquely positioned to accelerate the growth of our already successful wind projects business.

“We are very happy to welcome the NWind team to the BayWa RE family.

“By helping to meet the challenges of the development of onshore wind power in Germany and to advance the energy transition, as one of the main players in the market, the additional projects and the local presence brought by the team s’ will prove to be very valuable. “

NWind has been active in the German wind energy industry for over 20 years and is known for its strong regional roots and local market expertise.

This will allow BayWa RE to significantly strengthen its presence in the north of the country, as well as bring extensive experience and expertise on board.

NWind CEO Nils Niescken said: “We are delighted to start this new chapter with BayWa RE Tenders, direct marketing, power purchase agreements – the German wind industry and market is constantly evolving.

“By combining our focus and local knowledge with the extensive capabilities of BayWa RE, we will be able to successfully implement this important portfolio of projects and be fully prepared for further developments in the German wind and power markets. “

In May, the German government agreed to stricter climate targets and is now aiming for a 65% reduction in carbon emissions by 2030 – up from 55% – and carbon neutrality by 2045, five years earlier than the initial target of 2050.

Getting more renewable energy projects online, and much faster, will play a key role in achieving these goals.

Rainer added: “Especially in terms of political changes, 2021 and the rest of this decade will be decisive for the transformation of the German energy systemustainam towards a sble future, and we are ready to make our contribution.

“Besides political support, engaging with citizens and communities and being an integral part of the transition is essential for the successful development of wind projects in Germany.

“To achieve this, we are fully committed to establishing models of participation for citizens and communities.

“It is only when everyone works together that we will make this decade the success it needs to be for the global energy transition and a greener future.”


Mesa’s electrical customers will likely see higher bills this year


Mesa is asking its electrical customers to conserve energy during peak hours in the face of soaring electricity costs.

Mesa’s electric utility customers are likely to see their bills increase, but can help keep costs down by reducing their energy use during peak hours by 3 to 8 p.m., per city.

Mesa provides electricity to approximately 13,500 residential and over 3,000 commercial customers, including city facilities, within an approximately 5.5 square mile radius centered around downtown Mesa. Most of the city is supplied with electricity by private providers like the Salt River Project.

The city buys its electricity supply from the market and does not operate its own electric generators, making it largely dependent on market conditions. Electricity costs have risen in the Southwestern United States due to population growth, increased energy use, and the shift to new sources of energy that don’t deliver as much during the hours rush, putting Mesa in a tough spot.

“In my 40 years of professional experience in the energy industry, including 30 years in the western United States, I have never seen or experienced anything like what happens in the markets. energy today. Nothing could be closer, ”Frank McRae, the city’s director of energy resources, told city council recently.

McRae said his first goal was to avoid power outages and his second goal was to minimize costs.

“My policy is that we will find the energy we need to keep our customers from being in a blackout situation,” he said. “If we are in a blackout situation, it will only be because other utilities in Arizona are in a blackout situation as well.

Other Arizona utilities like Arizona Public Service Co. and the Salt River Project don’t seem as concerned with the state’s power supply, and haven’t asked customers so directly to save more than they do. habit.

What Electric Mesa Customers Should Know

Mesa’s electrical customers will see their bills increase, McRae told The Arizona Republic.

Some customers could see double-digit percentage increases over their bills last year, he said.

This is because the city faces considerably higher electricity costs, and these cost increases are passed on to customers. Electricity costs have declined for about 10 years, and those reductions have been passed on to customer bills, McRae said.

Now, with the increase in procurement costs, this will also be passed on to customers, although McRae has said it won’t happen all at once. Some cost increases will be deferred, spread over time or absorbed by the city. City facilities and services also strive to use less energy during peak hours when prices are high.

The city hopes to limit any residential customer’s bill to more than 5% above what their bill would be if they had SRP electricity, McRae said. For the past 10 years or so, Mesa’s bills have been lower than SRP equivalents, he said. That changed last summer when the city saw higher costs and bills came much closer to SRP.

The city suggests that customers take these steps to save energy:

  • Energy saving from 3 p.m. to 8 p.m.
  • Set the thermostat to 78 degrees or higher during peak summer hours or when you are away from home. Setting the thermostat five degrees higher can save up to 20%.
  • Use ceiling fans. Using ceiling fans and air conditioning during the summer allows you to raise your thermostat by about four degrees and feel the same way.
  • Close windows and doors.
  • Turn off lights and unnecessary items such as computers and power strips when not in use.
  • Use heat producing appliances like oven, dishwasher, washer and dryer during cooler times of the day, such as after 9 p.m.
  • Clean or replace the AC filter so that the device does not have to work as hard.

Mesa electric customers can ask for help if they need help paying their bills. Income-eligible residents can get utility assistance in July, August, and September through the city’s summer electrical assistance program. The city is also seeking federal funding to further help residents pay their electricity bills.

Mesa has been running its own power service for the city center since city leaders bought the utility in 1917.

Board member Kevin Thompson suggested it might be better to sell the utility to SRP if they can offer better rates. But McRae maintains that the utility will recover its costs and that the city intends to diversify by producing more of its own electricity, partnering with other utilities to manage the facilities, and adding solar suppliers to it. large scale.

“I am confident that we can develop a plan and the assets to make this an isolated event and to begin to reduce our costs and create opportunities for us to partner with other utilities located in the same location in Arizona. “, did he declare.

What explains the increase in costs?

Mesa relies heavily on the market to purchase electricity, rather than producing much of its own. What is happening elsewhere in the West is impacting the Mesa market.

“This year the market has changed for us,” McRae said.

Demand for electricity is growing, but supply is contracting as large power plants like the Navajo Power Plant go offline without enough new plants or other power sources to meet the needs of a wider customer base. said Anthony Cadorin, head of Mesa’s energy resources program.

Prices for the city can increase between 250% and 700%. “It happened to us much faster and much more drastically than we could ever have predicted,” he said.

Mesa has seen its annual electricity supply costs decline in recent years, hitting a low of around $ 11.6 million in 2019-20 before climbing to $ 30.8 million the previous year.

This fiscal year, it could cost anywhere from $ 40 million to $ 60 million, depending on the city.

High temperatures play a role, and relying on resources like solar power that generate less during peak hours does play a role, McRae said.

The city intends to add new power generation to its resources, but the price spike came a few years faster than expected.

“Things are not only getting precarious because of the price situation, but this delicate balance between demand and supply in the region is getting closer to where demand exceeds supply and that’s where we we all need to find a way to conserve and reduce our consumption, ”said McRae. told the board.

What about Arizona private vendors?

Other Arizona utilities do not send messages to customers to the same extent.

APS has yet to break a customer demand record this summer, although it was closed in mid-June.

“We are well prepared,” said Kent Walter, director of resource operations for APS. “We plan carefully for the high heat. We are also preparing from a generation perspective so that we are tuned in and ready to operate during these most critical times. We are also ready people. We are looking for what can go wrong.

The utility hasn’t asked customers to save more than usual this summer, he said, and hasn’t issued any emergency calls to save energy.

APS has two programs that can help reduce the demand for electricity during the hottest hours of the day. One is called Cool Rewards and APS offers an incentive to residential customers who volunteer to allow the utility to control their thermostats during certain hours of the day. It also has a program for large companies where they volunteer to reduce electricity during the days when APS calls the plan to action.

APS used both programs on June 16 and 17, Walter said.

SRP also has a demand response program where it can ask businesses to reduce their electricity use during peak hours and has implemented that plan twice this year after using it for eight days last year. .

Likewise, the utility has broken no records this summer for customer demand, despite the recent heat wave, said Chris Hofmann, director of transmission and production operations at SRP.

This week, with temperatures expected to be cooler than they have been, there is no worry about having enough electricity, he said.

“We have the generation to meet our load,” Hofmann said on Tuesday.

“We are still working with APS and (Tucson Electric Power) to support each other,” Hofmann added. “In the event that any of us find ourselves in a situation where they have to lean on us a bit, we’re always here to help.”

TEP suggested customers save power in mid-June, but not because the utility was concerned about the power supply.

“Hot weather increases utility bills as air conditioners use more energy to maintain interior temperatures chosen by customers,” TEP said in a press release in mid-June. “Utilities also pay higher prices for electricity in hot weather, which increases costs that are passed on to customers.”

Do you have a story on Mesa or Gilbert? Contact the reporter at [email protected] or 602-444-4282. Follow her on Twitter @alsteinbach.

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2 tech stocks that Wall Street says will rise more than 160%

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The ongoing digital transformation of most industries and the increasing use of advanced technologies are driving the growth of the technology industry. And the industry’s strong growth prospects are attracting great interest in tech stocks from investors. Indeed, the tech-rich Nasdaq Composite hit its all-time high of 14,649.11 on July 5.

Additionally, the nascent electric vehicle (EV) industry has prompted tech companies to venture into this space. With the announcement by major countries of their intention to phase out fossil-fueled vehicles over the next two decades, multiple capital investments and favorable policies, companies making products and services that make electric vehicles easier. are expected to experience significant growth.

So, despite the short-term headwinds created by a current semiconductor shortage, Wall Street expects the electric and auxiliary vehicle industries to grow significantly. Wall Street analysts expect technology stocks Ideanomics, Inc. (IDEX) and CleanSpark, Inc. (CLSK), which have substantial exposure to the electric vehicle industry, to rebound by more than 160% over the next few months.

Ideanomics, Inc. (IDEX)

IDEX is focused on transforming sustainability by facilitating the adoption of commercial electric vehicles, the associated energy consumption, and the development of financial services and fintech products. The company operates in the United States, China, Ukraine, Malaysia and the United Kingdom

On June 24, IDEX announced the acquisition of Solectrac Inc., a manufacturer and distributor of premium zero-emission electric tractors. The acquisition should allow IDEX to strengthen its position in the electric vehicle industry. Earlier in June, IDEX acquired US Hybrid, a manufacturer and distributor of electric powertrain and fuel cell engine components.

On June 3, the Twin Transit Authority (TTA) in Washington completed the installation of WAVE’s (a subsidiary of IDEX) high-power wireless charging system for electric buses. This is a new addition to IDEX’s growing list of transit fleet charging stations.

Total IDEX revenues increased 8,553.2% year-on-year to $ 32.71 million in its fiscal first quarter ended March 31. Its gross margin was $ 10.84 million, up 24,540.9% from the same period last year.

Analysts expect IDEX revenue to grow 382.8% year-on-year to $ 129.2 million for the current year. The company’s EPS is expected to improve 82.8%. Shares of IDEX have gained 73.9% in the past year and 33.7% in the past six months.

The median price target of $ 7.00 indicates a potential rise of 163.2% from its last closing price of $ 2.66.

Click here to view our Electric Vehicle Industry Report for 2021

CleanSpark, Inc. (CLSK)

CLSK is a global provider of diverse software and smart energy services. The company offers software and intelligent controls for distributed microgrid and energy resource management systems as well as strategy and design services. Its product line includes the mPulse, Switchgear and mVSO software platforms. CLSK was added to the Russell 2000 ® Index on June 28.

On June 2, CLSK agreed with Pioneer Power Solutions, Inc. (PPSI) the rights to serve as the preferred distributor of PowerBloc, an electric power system solution for electric vehicles. Amid the growing need for charging infrastructure for electric vehicles, this collaboration should be beneficial for CLSK in several ways.

On May 27, CLSK signed a memorandum of understanding with international wind technology company FlowGen Ltd., with the aim of leveraging the expertise of both companies to deliver improved and efficient systems to their collective customers.

CLSK’s revenue increased 122% year-on-year to $ 8.12 million in the fiscal quarter ended March 31. Its net profit increased 227.3% year-on-year to $ 7.40 million in the period. The company’s EPS increased 119.5% year-over-year to $ 0.22.

A consensus estimate of revenue of $ 25.84 million for the current quarter, ending September 2021, indicates an improvement of 1,221.7% over the same period last year. Analysts expect the company’s EPS to hit $ 0.24 in the current quarter, indicating a 300% year-over-year increase. Additionally, CLSK has beaten Street’s EPS estimates in three of the past four quarters. CLSK has gained 571.8% over the past year. The stock gained 1.4% during the day to close yesterday’s trading session at $ 16.46.

The two Wall Street analysts who rated CLSK noted Buy. Their median price target of $ 47.50 indicates a potential upside potential of 188.6% from its last closing price of $ 16.46. The 12-month price targets range from a low of $ 45 to a high of $ 50.00.

Click here to view our Software Industry Report for 2021


IDEX shares were trading at $ 2.61 per share on Tuesday afternoon, down $ 0.05 (-1.88%). Year-to-date, IDEX has gained 31.16%, compared to a 16.34% increase in the benchmark S&P 500 over the same period.

About the Author: Subhasree Kar

Subhasree’s keen interest in financial instruments led her to pursue a career as an investment analyst. After earning a master’s degree in economics, she gained knowledge in equity research and portfolio management at Finlatics. After…

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Oil prices rise as OPEC meeting collapses. 10 oil stocks to buy.

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Text size

*** SINGLE USE ONLY *** An oil well pump cylinder operated by Chevron Corp. in San Ardo, California, United States, on Tuesday, April 27, 2021.

David Paul Morris / Bloomberg

US oil prices are rising when they are expected to fall. This is good for some oil companies and the outlook for some oil stocks for the second half of 2021.

WTI crude oil prices rose about 1.1% to $ 76.01 a barrel in Tuesday trading. Oil prices have gained about 4.2% in the past five days.

The problem is OPEC. The oil cartel controlling about a third of global crude production met last week. Production from OPEC is down from pre-pandemic levels. The group has the capacity to produce more. And with oil prices up about 50% since the start of the year, when OPEC began to meet, it was expected that more oil would flow, pushing down prices and dampening inflationary pressures for American consumers and businesses.

The group, however, could not agree on an increase in production. No relief in oil prices is underway. RBC’s head of global commodities strategy Helima Croft in a report released on Monday called it the group’s most serious crisis since the 2020 price war between Saudi Arabia and Russia.

This crisis is mainly due to a conflict between Saudi Arabia and the United Arab Emirates. The United Arab Emirates want to increase their production benchmark, which would give them more share of OPEC’s theoretical production. But increasing a country’s share causes problems for other cartel countries.

Croft points out that the drama means the nearly 6 million barrels of oil production, taken offline during 2020, is not coming back, at least not yet.

Goldman Sachs

Head of energy commodities research Damien Courvalin wrote on Tuesday that oil prices could rise another 4% to 5% by mid-summer. Its target for Brent crude oil – the international benchmark price – is $ 80 per barrel. Brent crude was trading at $ 77 a barrel Tuesday morning.

But OPEC’s stalemate could lead to a price war, with countries producing more without the blessing of the whole group. That could bring prices down to $ 70, according to Courvalin.

It is a difficult setup for investors. But Goldman Sachs energy analyst Neil Mehta has a strategy for investors. In a research report released Tuesday, he told Goldman customers to do five things: buy in Canada; sell merchant refining; own stories of turnaround in exploration and production in the United States; underwrite the winners of mergers and acquisitions; and screen for the idiosyncratic.

To begin with, Canadian producers like

Suncor Energy

(SU) and

Canadian natural resources

(CNQ) is expected to generate more cash flow in the current pricing environment.

However, current prices are not great for refiners. He reiterated his sell rating on

Valero Energy

(VLO) and

Holly Frontier

(HFC) in its Tuesday report. “We consider the fundamentals upstream to be more constructive than the downstream ones,” Mehta wrote.

Upstream is the exploration and production of oil and gas. Metha notes that

ExxonMobil

(XOM) and

Western Oil

(OXY) is not in favor, but believes investor sentiment will improve.

He also likes companies that bought assets at the bottom of the price cycle in 2020. As a result, he has buy ratings on

ConocoPhillips

(COP) and

Diamondback Energy

(CROC).

“Our final key theme is to focus on idiosyncratic value drivers,” adds the analyst. Oil services giant

Schlumberger

(SLB) is one such idea. It has the ability to improve profit margins.

Baker Hugues

(BKR) is another. His actions were weighed down by

General Electric (GE)

sell its stake.

These are 10 actions for the second semester. Energy stocks had a strong first half. Energy stocks in the

S&P 500

returned around 45% in the first half of 2021, outperforming comparable returns from the S&P and

Dow Jones Industrial Average.

Write to [email protected]


Conservation markets can protect endangered species


Relying on state biologists from the Western Association of Fish and Wildlife Agencies (Wafwa) to protect the little prairie chicken has not worked (“Biden’s Prairie Chicken Filet,” Review & Outlook, June 23).

National wildlife programs are preferable to federal intervention under the Endangered Species Act, but a market solution is preferable to both. There is a market solution for the little prairie chicken, but state agencies have canceled it. As mitigation bankers, we paid a negotiated price to landowners with the most important habitat and achieved more than half of the habitat conservation target in two years – eight in advance. . Wafwa has guessed the fair market prices, wasted a good deal of the money, and is making little progress towards his conservation goals.

The agencies have relied on committees of biologists to carry out real estate transactions requiring land and commercial expertise that they do not have. Energy companies are now facing a total loss of the $ 60 million they contributed.

When the time came, the federal government didn’t have much choice on ESA’s list. The bird population is extremely low – there are only 5,000 small prairie chickens left in eastern New Mexico and western Texas – and the Wafwa program has failed.

The way forward is to trust conservation markets that pay market rates to private landowners to restore and protect vital habitat. Our conservation banks have amassed nearly 100,000 acres of the last of the best land and we’re ready to help.


Coiled Tubes Market 2021 | Growth Analysis, Regional Trends, Demand, Forecasts: Halliburton Co. Weatherford International Ltd. Baker Hughes Trican Well Service Ltd – The Manomet Current

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the Coiled Tubes Market The report provides comprehensive, effective, and thoroughly analyzed information about the Orderly Coiled Tubes market based on actual conditions. The global Coiled Tubes market research report explains in detail all the aspects related to the Coiled Tubes market, which helps the report readers to research and assess upcoming market trends and to perform data analysis to promote the market. Business Development.

The study has carefully examined new growth opportunities, performed in-depth analysis of the Coiled Tubes market based on development, and performed data analysis on all aspects of the Coiled Tubes market. Global Industry explains the basic aspects that dominate market players through their business summary, sales in Coiled Tubes market, press releases, and development in the market. The research report provides a comprehensive analysis of key aspects of the Global Helical Tubes including competition, segmentation, geographic progression, manufacturing cost analysis, and price structure. We provide CAGR, value, volume, sales, production, revenue, and other estimates for the global and regional markets.

Download a FREE copy of the report: https://www.polarismarketresearch.com/industry-analysis/coiled-tubing-market/request-for-sample

This sample report includes:

  • A brief introduction to the research report and market overview.
  • Graphic presentation of the global and regional analysis.
  • Major Coiled Tubes Market players with their revenue analysis.
  • Selected illustrations of helical tube market information and trends.
  • Polaris market research methodology.

COMPETITION ANALYSIS:

The report provides a comprehensive view of the competitive landscape of the Coil Tube market and includes a broad description of the performance of some of the major global market players. The report focuses on understanding the overall market outlook, focusing on current market trends, exposing key drivers, opportunities, restraints, and challenges, and evaluating the future prospects of the market.

Some well established players in the coiled tube market are –

Halliburton Co., Weatherford International Ltd., Baker Hughes, Trican Well Service Ltd, Cudd Energy Services, Schlumberger Ltd., Calfrac Well Services Ltd., C&J Energy Services, Inc., Nabors Industries Ltd.,

MARKET SEGMENTATION :

The report has conducted extensive research on the market segments and sub-segments and made it clear which market segment will dominate the market during the forecast period. In order to help clients to make informed decisions about business investment plans and strategies in Coiled Tubes market, report provides detailed information regarding regional market performance and competitor analysis.

Coiled Tubes Market Size and Forecast, 2017-2026 by Location

Coiled Tubes Market Size and Forecast, 2017-2026 by Operation

  • Pumping
  • Circulation
  • Recording
  • Other

Coiled Tubes Market Size and Forecast, 2017-2026 by Application

  • Drilling
  • Well cleaning and completion
  • Intervention well
  • Other

Key points of the Geographic analysis:

  • Data and information on consumption in each region
  • The estimated increase in the consumption rate
  • Proposed market share growth for each region
  • Geographic contribution to market income
  • Expected growth rates of regional markets

The latest business intelligence report analyzes the market in terms of market scope and customer base in the major geographies of the market. The Coiled Tubes market can be geographically divided into:

  • The Middle East and Africa (GCC countries and Egypt)
  • North America (United States, Mexico and Canada)
  • South America (Brazil etc …)
  • Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
  • Asia Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)

Frequently asked questions answered in this report

  • What is the pre and post impact of Covid-19 on the Coiled Tubes market?
  • What will be the size and share of the Coiled Tubes market?
  • Who are the major market players in the Coiled Tubes market?
  • What are the Major Regions Covered by the Coiled Tubes Market?
  • What are the growth opportunities and challenges in the Coiled Tubes market?

Some of the main highlights of the table of contents cover:

  • Development Trend of Coiled Tubes Market Analysis
  • Global Coiled Tubing Market Trend Analysis
  • Global Helical Tubing Market Size Forecast (Volume & Value) 2020-2027
  • Marketing channel
  • Direct marketing
  • Indirect Marketing
  • Coiled tube customers
  • Market dynamics
  • Market trends
  • Opportunities
  • Market factors
  • Challenges
  • Factors of influence
  • Methodology / Research approach
  • Research programs / Design
  • Market size estimate
  • Market breakdown and data triangulation
  • The data source

If you have any questions, ask our experts @ https://www.polarismarketresearch.com/industry-analysis/coiled-tubing-market/speak-to-analyst

Thank you for reading this article; you can also get section by chapter or report version by region like North America, Europe or Asia.

About Polaris Market Research

Polaris market Research is a global market research and consulting company. We provide unmatched quality of offerings to our customers around the world. The company specializes in providing exceptional market intelligence and in-depth business research services to our customer base across industry verticals.

Contact us

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Phone: 1-646-568-9980

E-mail: [email protected]

The Web: www.polarismarketresearch.com


UAE rejects OPEC, allied plan to extend production deal, Energy News, ET EnergyWorld

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Dubai: The United Arab Emirates on Sunday rejected a plan by the oil cartel of OPEC and allied producing countries to extend the global pact to cut oil production beyond April 2022, a rare statement revealing frustration of the country to the group.

The UAE’s energy ministry called the proposal to extend the deal for all of 2022 without increasing its production quota “unfair to the United Arab Emirates,” according to the state-run WAM news agency.

One of the group’s largest oil producers, the United Arab Emirates is looking to ramp up production – setting up a competition with OPEC ally and heavyweight Saudi Arabia, which has led a campaign to maintain strict control of production.

The combined group of OPEC Plus members led by Saudi Arabia and non-members, foremost among them Russia, failed to reach an agreement on oil production on Friday. Negotiations on the dispute are expected to resume on Monday.

The UAE said it supported plans to increase production over the summer, saying the market was “in urgent need of higher production.” The country suggested postponing all discussion of extending the agreement to a later meeting and requested an updated production quota that “reflects our current production capacity.”

OPEC faces conflicting pressures after falling oil prices last year as the pandemic wiped out travel and energy use. Sharp cuts in production by oil producers kept prices from collapsing even more than they did.

Raising production now, as vaccination campaigns fuel hopes of economic recovery, would increase the incomes of producing countries which have seen their budgets hit hard by falling prices. But pumping too much too soon could undermine the rebound in energy prices.

In an interview with CNBC on Sunday, UAE Energy Minister Suhail al-Mazrouei expressed concerns over Saudi-led production restrictions.

“Everyone sacrificed but unfortunately it was the United Arab Emirates that sacrificed the most, making a third of our production inactive for two years,” he said.

Saudi Arabia has assumed the largest production cuts and called for caution, saying demand for oil and economic recovery from the pandemic remain fragile globally. (PA)

MRJ


3 high-yield energy stocks that should survive the clean energy transition

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The energy market is in the midst of a monumental shift towards cleaner fuel sources. Companies in the sector will need to invest trillions of dollars over the next several decades to make the transition. Fortunately for these energy companies, the slow pace of this change should give them enough time to adjust.

This is also great news for dividend investors, as it suggests that many high yielding stocks in the sector will survive the transition. This certainly appears to be the case for Enbridge (NYSE: ENB), Enterprise Product Partners (NYSE: EPD), and Kinder Morgan (NYSE: KMI). Here’s why three of our contributors believe these companies will have no problem adjusting to the changes in the energy industry.

Image source: Getty Images.

Decades of demand to go

Reuben Gregg Brewer (Enbridge): The world is turning to clean energy, including solar and wind power. This is definitely a problem for companies like Enbridge that have significant exposure to oil and natural gas. However, the energy transition is expected to last for decades and not happen overnight, so demand for the pipelines that underpin 83% of Enbridge’s EBITDA isn’t going away anytime soon.

But that’s not all that’s important to understand here. Approximately 14% of EBITDA is derived from Enbridge’s natural gas utility operations. Natural gas is a cleaner alternative to fuel oil for home heating. The remaining 3% of Enbridge’s EBITDA comes from its renewable energy business. This segment has significant offshore wind projects underway in Europe which are expected to expand in scale over time.

But take a step back and think about these two companies. Enbridge is a major contributor to the clean energy transition and moves slowly with the world around it.

That said, Enbridge estimates it has the capacity to spend $ 4 billion to $ 6 billion annually on its investment plans for the foreseeable future. This, in turn, is expected to result in 5% to 7% annual growth in distributable cash flow and regular increases in dividends that will likely be slightly below these levels. Consider Enbridge’s 6.8% dividend yield over current stock price and there’s a lot to love about the future of this Canadian pipeline giant, even as the world’s energy future turns greener. .

ENB chart

ENB data by YCharts

Designed to handle cleaner fuels

Matt DiLallo (Kinder Morgan): Kinder Morgan operates one of the largest energy infrastructure networks in North America. It has the largest natural gas transport network. It is also the largest independent transporter of refined petroleum products, the leading independent terminal operator and the largest transporter of carbon dioxide. These assets generate a lot of cash to support its dividend, which earns around 5.9% in today’s stock price.

While most of this infrastructure focuses on fossil fuels, much of it could also transport and store the low carbon fuels of tomorrow. For example, renewable natural gas is interchangeable with conventional natural gas. This same infrastructure can also support 5-10% hydrogen mixtures with little or no modification. Meanwhile, if hydrogen emerges as a viable commercial fuel solution, Kinder Morgan could make the necessary changes to reuse its existing gas infrastructure to move it.

Likewise, Kinder Morgan’s refined products pipelines and terminal assets are critical to supporting alternatives like ethanol, biodiesel and renewable diesel. In addition, the company is developing new infrastructure on the west coast to support renewable fuels.

Finally, Kinder Morgan’s expertise in carbon dioxide transport and sequestration as part of its enhanced oil recovery program places it in an excellent position to take advantage of future carbon capture and storage opportunities. It could use its existing carbon dioxide pipelines to transport captured carbon dioxide from the atmosphere for sequestration, and convert others for that purpose as well.

Kinder Morgan’s existing assets are expected to continue to generate stable liquidity for many years to come. This will give it the money to support its high yield dividend and invest in transitioning its operations to handle higher volumes of cleaner alternative fuels. For this reason, he should have no problem surviving energy transition.

This incredible dividend streak won’t break so quickly

Neha Chamaria (Corporate Product Partners): The growth of clean energy sources will undoubtedly change the face of the energy industry, but that doesn’t mean oil and gas companies will be bankrupt anytime soon. At least not the cleaner fossil fuel-focused infrastructure giants like Enterprise Products Partners.

Enterprise Products Partners operates one of the largest pipeline systems in the United States, transporting natural gas, natural gas liquids (NGLs), crude oil, and refined and petrochemical products. The company also has large natural gas processing and NGL storage facilities, and is the world’s largest exporter of liquefied petroleum gas. In 2020, LNG and natural gas pipelines and services combined generated 50% of Enterprise Products Partners revenue, while crude oil pipelines and services and petrochemical pipelines and services each provided about a quarter of its revenue. business.

As an intermediary company, Enterprise Products Partners is insulated from the volatility of oil prices. In addition, it has more exposure to natural gas and NGLs than to crude oil, and derives most of its operating income and cash flow from fee-based contracts. The company could also use its extensive infrastructure to store and transport future fuels if business conditions warrant. These factors should help Enterprise Products Partners survive the clean energy transition and maintain stable dividends.

Enterprise Products Partners has so far increased its annual dividend payouts for 22 straight years, and the stock is returning a solid 7.4% to today’s stock price. So even in an environment where the world is increasingly turning to cleaner fuels, Enterprise Products Partners remains one of the safest energy dividend stocks on the market.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


Energy program services available online

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DNREC’s energy efficiency investment fund goes paperless

Companies looking to improve energy efficiency and reduce costs through the Delaware Department of Natural Resources and Environmental Control’s Energy Efficiency Investment Fund can apply for the program online.

The online portal replaces the current practice of accepting applications in all other formats and will make applications faster and easier for clients, increase the efficiency of file review and improve communication between applicants and the program staff. The Energy Efficiency Investment Fund provides grants to help commercial and industrial customers replace aging and inefficient equipment and systems with energy-efficient alternatives.

Users can enter project information, including materials and energy savings, in simple tables. The portal contains specialized calculators that streamline the details provided by the applicant to generate an estimate of the total project cost and grant award. Candidates can also share and store documents, allowing the EEIF team to communicate clearly and directly with the candidate.

“The portal will strengthen a program that is already saving Delawarens millions of dollars in annual energy costs and will create a more streamlined process for applicants,” said Dayna Cobb, director of the Climate, Coastal and Coastal Region. energy of DNREC.

Improving the energy efficiency of a business can reduce operating costs, reduce energy consumption and improve environmental performance. Visit de.gov/eeif to learn more about available grant and loan programs, or log on to eeif.smartsimple.com to apply for the program.

About DNREC

The Delaware Department of Natural Resources and Environmental Control protects and manages the state’s natural resources, protects public health, provides outdoor recreation opportunities, and educates Delawarens about the environment. The Climate, Coastline and Energy Division uses science, education, policy development and incentives to address Delaware’s climate, energy and coastal challenges. For more information, visit the website and connect with DNREC on Facebook, Twitter or LinkedIn.

Media contact: Michael Globetti, [email protected] or Jim Lee, [email protected]

###



Energy is a building block for Alaska’s future

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Energy is non-negotiable in the modern world. Centuries of progress have made it a staple in almost every facet of daily life, from home to business. This is especially true in the extremes of Alaska, where reliable access to electricity and fuel can be the difference between survival and tragedy. Despite all the technological advancements, however, America’s energy infrastructure has not kept pace.

Inaccessible by transmission lines, too many remote communities in Alaska remain cut off from reliable and affordable electricity and depend on imported diesel. Those of us who are more fortunate still face high costs.

These problems, however, are not limited to Alaska. Over the past year, the contiguous United States has provided many examples. When Texans were hit by a deep freeze and left without heat or power, millions of Americans experienced some of the very real vulnerabilities in our system. In late spring, we saw the East Coast hit by a breach that closed its main pipeline. Now that summer is in full swing, Western states’ access to electricity is on the brink of collapse.

With the ongoing infrastructure negotiations, Congress can lay the foundation necessary to fuel life in the 21st century. According to the American Society of Civil Engineers account, the energy infrastructure of the United States and Alaska is gaining a paltry C-minus. Unless steps are taken to strengthen the energy network from generation to transmission, the country is at risk not only of the current quality of life and affordability, but also of the long-term economic benefits and security of independence. energetic.

As a lifelong Alaskan, I saw with my own eyes before and after the first major investment in Arctic infrastructure – the Trans-Alaska Pipeline. The construction of the pipeline changed our way of life and provided countless opportunities for families and communities in Alaska. The pipeline meant an opportunity to grow our economy, a relatively stable budget for the state, and for many access to important critical infrastructure for the first time – new roads, greater reach for electricity, better schools. , increased access to medical care and jobs. In turn, these benefits led to self-determination, self-actualization, and freedom that those in the lower 48 had already started to take for granted. With just one infrastructure project, Alaska’s future – and indeed the country’s – has changed forever.

With the support of federal lawmakers, Alaska and the United States can once again benefit from the transformative nature of energy infrastructure and innovation. Advances in science and engineering now allow us to harness our environment for power generation more efficiently, affordably and sustainably than ever before, opening a new frontier for energy development. There is perhaps no better place to expand our energy renaissance than to apply clean, renewable technology to Alaska.

Alaska’s geographic diversity is among the most unique in the world. From geothermal power to wind, wave, solar and hydroelectric power, there is the potential to develop energy assets and create jobs in all corners of the state. In doing so, Alaska can not only continue its legacy of powering the United States and providing invaluable energy security, but also deliver tangible benefits to the people of Alaska and their communities, just as I have been. witness growing up.

Senator Lisa Murkowski, Senator Dan Sullivan and Congressman Don Young have always championed the energy produced in Alaska. Continuing this support by embracing the clean energy technologies of the next era is important to ensure that the state continues on a positive trajectory. From supporting the 2020 Energy Law to a myriad of clean energy bill sponsorships, it’s clear our delegation agrees.

I am proud of the work Alaska’s leaders are doing to strengthen our nation’s energy infrastructure and appreciate the invaluable role Senator Murkowski has played in negotiating a project-driven infrastructure package that invests no not only in roads, bridges, ports and broadband, but also in new renewable energy projects that power our communities and lower energy costs for so many of our residents. I commend our Congressional delegation for staying the course and standing up for Alaska’s interests every day.

Lesil McGuire is a longtime Alaskan, former state senator, women’s and rural advocate, and mother. She lives in Anchorage and works as a consultant in the aerospace, technological innovation and arctic policy sectors.


4 Reasons You Should Switch To Solar Power: South Florida Caribbean News

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Investing in a solar system is one of the best decisions you can make for your home. Millions of homeowners around the world are already doing this and are reaping the brunt of the investment.

But, if you still don’t know how good solar is for you, you’ve come to the right place. In this review, we’re going to provide four great reasons why you should switch to solar power.

Let’s get started.

1. Solar energy saves a lot of money

One of the main incentives for using solar energy is the financial savings you will achieve. How much will you save? Well, with a good system, you can save up to $ 1,390 each year and up to $ 30,000 over 20 years.

The savings will ultimately depend on the type and number of panels installed, your energy use, the electricity costs in your area, the amount of sunlight in your location and how the system is installed. .

Besides the obvious relief on your electric bill, solar power can also generate income for you if you produce more energy than you need. Many owners sell excess energy to the grid earn a good amount of money. In fact, if you are efficient with your energy use, you can get your ROI at an incredible rate. You will then begin to generate profits from the energy produced by your panels.

Plus, solar power can make you eligible for federal and state tax credits. These programs are designed to encourage homeowners to switch to green energy by reducing installation costs.

Tax credits vary from state to state. For example, in Florida there is a 6% exemption on sales of solar home systems. So when you are looking for a Florida Free Quote on solar installation, be sure to ask questions about it and other discounts or benefits you may be entitled to. You should also be aware that these credits change from time to time, so take advantage of them while they are still available.

Finally, a solar energy system increases the value of your property. Reports show that the system can increase the value of your property by about 4%. Therefore, don’t let the fact that you hope to sell your home in the future prevent you from switching to solar power. The investment will help you earn more from your property.

2. Solar energy is good for the environment

4 reasons why you should switch to solar power

Fossil fuels like coal and natural gas are directly linked to greenhouse gas emissions. Fuels emit GHGs, which trap heat, making it more difficult for the earth to cool. This has resulted in a rise in temperatures which is causing global warming. Not only is this responsible for drastic climate change, but it has also been linked to serious health issues like cancer.

Fossil fuels also strain scarce natural resources like water. The process of extracting, burning and transporting fuels consumes a lot of water. A good number of power plants have also been linked to water pollution, which affects marine life.

By switching to solar energy, you will effectively help reduce the threat posed by fossil fuels. This clean energy source does not require water to operate. It also converts the sun’s abundant free energy into electricity without emitting any greenhouse gas.

Your switch reduce dependence on non-renewable energy sources. This means less carbon footprint. Water consumption and pollution will also decrease dramatically.

3. The performance of solar energy is guaranteed

All solar panel systems come with a performance guarantee. Terms normally vary depending on where you purchase the system. However, the majority of companies offer a 20 to 25 year warranty.

Most of these panels will keep at least 80% performance after 25 years, which is very impressive. This essentially means that you can count on your panels for at least 35 years. At that point, the investment will pay off and you will likely benefit from the free electricity from the sun.

4. Less power interruptions

Unlike traditional electricity which can easily be interrupted by a grid fault, a well-installed solar system is less prone to interruptions.

In addition, you will always be in control of the system so that you can resolve any issues as quickly as they arise.

Meanwhile, solar panel batteries will help you store electricity and use it when your panels are underperforming. For example, electricity produced during the day is stored and used at night.

Batteries can also power your home during storms and other extreme weather conditions.

It should be noted that solar panels do not require a lot of maintenance. In fact, maintenance tasks are mostly limited to cleaning the panels and making sure that no debris is blocking the sun.

You can’t go wrong with solar power. It reduces your electricity bills, protects the environment and eliminates power outage problems. The more than 20 year warranty is the icing on the cake. Make the change today.


Energy firm’s £ 103million settlement over bribery charges approved by court

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An energy company has agreed to pay a total of £ 103million for its use of corrupt oil and gas agents to secure contracts.

dude Foster Wheeler Energy Limited has entered into a three-year Deferred Prosecution Agreement (DPA) with the Serious Fraud Office (SFO), which was approved Thursday by Lord Justice Edis.

Following a brief hearing in royal courts on Friday, details of the DPA and the reasons the court approved the deal were made public.

The DPA relates only to the potential criminal liability of Amec Foster Wheeler Energy Limited and does not specify whether liability of any kind attaches to any employee, agent, former employee or former agent of Amec Foster Wheeler Energy Limited. .

The SFO said the breaches took place around the world between 1996 and 2014, before Amec acquired Foster Wheeler in November 2014 and before the acquisition of the combined company by John Wood Group in October 2017.

Although we inherited these issues through acquisition, we took full responsibility for resolving them, as any responsible businessRobin Watson, John Wood Group

In entering into the DPA, Amec Foster Wheeler Energy assumed responsibility for 10 corruption offenses in Nigeria, Saudi Arabia, Malaysia, India and Brazil by the former Foster Wheeler company, the SFO said.

As part of the deal, the company will pay the OFS costs of £ 3.4million plus compensation to ‘Nigerian victims in this case’ of just over £ 200,000, added the watch dog.

The SFO said the DPA was concluding its investigation “into suspicions of bribery and corruption at the former Foster Wheeler and Amec Foster Wheeler companies with respect to legal persons.”

But he added that his “investigation into the conduct of individual suspects is continuing” and the court heard on Friday that it expected “to reach indictment decisions within the next three months”.

The deal is part of a global settlement of US $ 177 million (£ 128 million) with the SFO, the US Department of Justice and Securities and Exchange Commission and Brazilian authorities.

Lisa Osofsky, Director of the SFO, said: “Over a span of 18 years, Foster Wheeler brazenly and calculated bribes to officials around the world to cut costs and get contracts, going to great lengths to cover up his corrupt conduct.

“In doing so, the company has overturned the rule of law and undermined the integrity of the UK economy.

“We will continue to do taxpayers justice by punishing such actions and forcing businesses to change for the better.

“Justice also means recovering money to compensate victims where possible, and I am delighted that we were able to secure compensation for the Nigerian victims in this case. “

Robin Watson, Managing Director of John Wood Group, the current parent company of Amec Foster Wheeler Energy, said he was satisfied that “we were able to resolve these issues”.

He said: “The investigations have brought to light unacceptable behavior, albeit historic, which I condemn in the strongest terms.

“While we inherited these issues through an acquisition, we took full responsibility for resolving them, as any responsible business would.

“Since our acquisition of Amec Foster Wheeler, we have cooperated fully with the authorities and taken steps to further improve our ethics and compliance program from an already strong foundation.

Group Chairman Roy Franklin said, “The historic conduct that led to these investigations does not reflect Wood’s values ​​that unite us as a global team.

“The resolutions highlight why we attach such importance to upholding the highest ethical and compliance standards in all regions of the world where we operate, and why we continue to invest in strengthening our governance in this area. “

OneWattSolar Completes N3 Billion Green Bond Issue

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Lagos, July 2, 2021:
OneWattSolar (“OWS” or the “Company”) today announces the successful issuance of the first series of its 10 billion yen (approximately US $ 24.4 million) green bond issuance program , comprising 2 billion yen (approximately 4.9 million US dollars) 7- a one-year green bond issue (Tranche I) and a 7-year green sukuk issue (Tranche II) of one billion yen (approximately US $ 2.4 million).

The show is the first of its kind in several categories. In Africa, these are the first: Corporate Green Bond for Off-Grid Renewable Energy Project, Corporate Green Sukuk, and Corporate Joint Green Bond and Green Sukuk; and it’s the 13th Green Sukuk in the world.

The Bond is rated BBB, in accordance with standards set by DataPro Limited, a rating agency registered in Nigeria. TUV Nord Certification also provided a second opinion on the company’s green bond framework.

Comercio Partners Capital Limited (“CP Capital”), the investment banking subsidiary of Comercio Partners Limited, led the bond issue as a issuing house / financial advisor. The show was also supported by Marble Capital Limited as a Sharia advisor and Bloomfield LP as legal advisers. In addition, Financial Sector Deepening Africa (FSD Africa) has provided considerable technical assistance in support of the issue.

The show is in line with the Company’s mission and mandate to accelerate and build on the achievements of Africa’s decarbonization pathway goals in the energy sector. Essentially, the company’s goal is to deliver more than 14 GW of off-grid solar power by 2030 across sub-Saharan Africa. In addition, the show reinforces the Company’s unhindered commitment to the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement on climate change by leveraging its innovative and scalable business model that is based on consciously on a strategic partnership, advanced technologies and Big Data.
The Company intends to use the net proceeds of the issuance to purchase renewable energy assets necessary for the implementation of its portfolio of off-grid energy access projects in Nigeria, in line with the eligibility criteria (as defined in its green bond framework) and to support the adoption of best market practices and reporting standards to deepen the green bond market.

Comments on the show

Jubril Adeojo, PhD, co-founder and COO of OWS:

“This show allowed us to commercially deploy our two flagship products – CHIOMA being the hardware and hardware technology based on the Internet of Things, and AMINA being the advanced artificial intelligence software technology. Both products are strategically designed to offer a excellent service to our customers, as well as to ensure that the customer experience journey is smooth and memorable. It should also be noted that all of our partners are indigenous actors who work together to democratize, decarbonize, decentralize and digitize access sustainable energy to our reputable local businesses and households while creating many jobs for African youth and women.As a technology company, we look forward to developing and deploying new customer-centric products at the same time. to the issuance of more green bonds and sukuks, while we use this issuance to co to start the first leg of our million kilometer journey.

Steve Osho, co-manager and general manager of CP Capital:

“This is the first hybrid Green Bond and Green Sukuk issued by a company in Sub-Saharan Africa and at Comercio Partners Capital Limited we are delighted to be the primary issuing house for this historic issue. Our strategic relationship with OWS is part of our philosophy of value creation. Following the launch of the Nigerian Green Bond Market Development Program competently supported by FSD Africa in 2018, at Comercio Partners we have driven the essence of impact investing and the strategic alliance with OneWattSolar marks a key milestone in the company’s financing strategy. Therefore, issuing this Green Sukuk hybrid bond was a good call to reaffirm our commitment to green financing.

Akeem Oyewale, CEO of Marble Capital:

“Marble Capital is pleased to have lent its Sharia advisory skills to Green Sukuk’s first issue in Africa, and also grateful for the opportunity to expand Islamic finance asset offerings in the Nigerian market. . Using a sukuk in finance structures allows companies like OneWattSolar to tap into a growing asset class that has proven its worth around the world. OWS’s focus as an environmentally conscious company aligns with the principles of Sharia Maqosid and has helped bring investors to the deal. We expect more companies to take advantage of this short-term funding opportunity. “

Adedoyin Afun, Partner, Bloomfield LP:

“The advice on this historic show is testament to our multidisciplinary and integrated approach in providing excellent legal and regulatory support services. The depth of our capital markets, sustainable finance, Islamic finance, and our energy and natural resource practices was the cornerstone of this transaction. We see this show as the start of many more sustainable fundings in Nigeria. “

Evans Osano, Director, Financial Sector Deepening Capital Markets in Africa (FSD Africa)

“We congratulate OneWattSolar on its Green Bond and Green Sukuk issuance and are delighted to be a part of this journey. The issuance of this bond demonstrates the powerful role that green finance can play in establishing a resilient low-carbon economy in Africa and in resolving the continent’s energy crisis.

“Greening finance is essential to unlock sustainable growth. OneWattSolar has set a milestone in this regard, demonstrating the transformative potential of green Islamic finance, a part of the financial community that has always put social good at its heart.


Duke Energy Corporation Embedded Value Estimate (NYSE: DUK)

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Does Duke Energy Corporation’s (NYSE: DUK) July share price reflect its true value? Today we’re going to estimate the intrinsic value of the stock by taking the company’s future cash flow forecast and discounting it to today’s value. This will be done using the Discounted Cash Flow (DCF) model. Don’t be put off by the lingo, the math is actually pretty straightforward.

We generally believe that the value of a business is the present value of all the cash it will generate in the future. However, a DCF is only one evaluation measure among many, and it is not without its flaws. If you would like to know more about discounted cash flows, the rationale for this calculation can be read in detail in the Simply Wall St analysis model.

Check out our latest review for Duke Energy

The calculation

As Duke Energy operates in the electric utility industry, we have to calculate intrinsic value slightly differently. Instead of using free cash flow, which is difficult to estimate and often unreported by industry analysts, dividend payments per share (DPS) are used. Unless a company pays out the majority of its FCF as a dividend, this method will generally underestimate the value of the stock. We use Gordon’s growth model, which assumes that the dividend will grow in perpetuity at a rate that can be sustained. The dividend is expected to grow at an annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.0%. We then discount this figure to today’s value at a cost of equity of 5.8%. Compared to the current price of US $ 99.6, the company appears to be around fair value at the time of writing. Ratings are imprecise instruments, however, much like a telescope – move a few degrees and end up in another galaxy. Keep this in mind.

Value per share = Expected dividend per share / (Discount rate – Perpetual growth rate)

= US $ 4.1 / (5.8% – 2.0%)

= US $ 84.8

NYSE: DUK Discounted Cash Flow July 2, 2021

The hypotheses

The above calculation is very dependent on two assumptions. One is the discount rate and the other is cash flow. If you don’t agree with these results, try the calculation yourself and play with the assumptions. The DCF also does not take into account the possible cyclicality of an industry or the future capital needs of a company, so it does not give a complete picture of a company’s potential performance. Since we view Duke Energy as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which takes debt into account. In this calculation, we used 5.8%, which is based on a leverage beta of 0.800. Beta is a measure of the volatility of a stock relative to the market as a whole. We get our average beta from the industry beta of comparable companies globally, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable company.

Next steps:

While important, calculating DCF ideally won’t be the only piece of analysis you’ll look at for a business. It is not possible to achieve a rock-solid valuation with a DCF model. Instead, the best use of a DCF model is to test certain assumptions and theories to see if they would lead to undervaluation or overvaluation of the company. If a business grows at a different rate, or if its cost of equity or risk-free rate changes sharply, output can be very different. For Duke Energy, we’ve put together three important things you should research further:

  1. Risks: For example, we have identified 6 warning signs for Duke Energy (1 is a bit rude) you should know about it.
  2. Future benefits: How does DUK’s growth rate compare to that of its peers and the wider market? Dig deeper into the analyst consensus number for years to come by interacting with our free analyst growth expectations chart.
  3. Other high quality alternatives: Do you like a good all-rounder? Explore our interactive list of high-quality stocks to get a feel for what else you might be missing!

PS. The Simply Wall St app performs a daily discounted cash flow assessment for every NYSE share. If you want to find the calculation for other actions, do a search here.

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This Simply Wall St article is general in nature. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative material. Simply Wall St has no position in any of the stocks mentioned.
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Settlement reached in Dominion Energy’s rate case


COLUMBIA, SC (WIS) – A settlement has been reached in Dominion Energy’s electricity tariffs case, South Carolina officials say.

The settlement, filed Friday morning in Columbia, would include a 1.46% increase in rates for residential customers effective Sept. 1.

The settlement is the result of “months of good faith negotiations,” said a statement from the Office of Regulatory Personnel. Officials say the regulation will provide “significant benefits to customers while ensuring the continued supply of affordable, reliable and increasingly sustainable energy.”

“We believe the negotiations resulted in a well-balanced and creative resolution containing consumer-friendly measures that otherwise would not be available through a formal process,” said Carri Grube Lybarker, spokesperson for the Consumer Affairs Ministry. Caroline from the south.

If the PSC passes the regulation, a typical residential customer will see their bill increase by about $ 1.81 per month, the statement said.

Dominion Energy is also committed to providing up to $ 30 million in shareholder funds to support vulnerable and economically struggling customers at no cost to taxpayers, the release said.

This support would be provided as follows:

  • Up to $ 15 million will be used to cancel overdue balances over 60 days, effective May 31, 2021. All customers are eligible to participate. Customer credits would take place within 90 days of a final PSC order.
  • $ 15 million will be spent on energy efficiency upgrades and essential health and safety repairs in customers’ homes, allowing those homes to participate in the company’s energy efficiency programs. The funds will be administered by the South Carolina Office of Economic Opportunity, which also manages federal weatherization programs.
  • DESC has agreed to double its annual commitment to EnergyShare, the company’s year-round aid program, setting funding at $ 1.5 million for 2021 and 2022. This includes $ 500,000 for small businesses, a new advantage offered by the program. EnergyShare provides bill payment assistance for customers in need and home improvements that promote energy conservation.
  • DESC has also agreed to keep its fixed monthly fees below $ 10. The current fee is $ 9 and the settlement fee is $ 9.50. Any further increase will depend on the amount of electricity used by the customer. Keeping fixed costs low helps customers manage their bills and encourages energy conservation efforts.

If approved, the settlement would result in a net annual increase in revenue of approximately $ 25.6 million, based on a return on equity of 9.5%, capitalization of 51.62% and a rate base of $ 5.75 billion.

The company had requested a revenue increase of $ 178 million and a return on equity of 10.25%.

Dominion Energy South Carolina President Rodney Blevins said the settlement was an achievement all parties could be proud of.

“I would like to thank the Commission for putting the procedure on hold and for encouraging all parties to work to reach consensus,” said Blevins. “Reaching consensus on a comprehensive settlement with all parties is a remarkable achievement and confirms that groups with diverse interests can still come to agreement on issues important to the regulation of utilities in this state while keeping our tariffs below. of the national average. We are sincerely grateful to all parties for the spirit of cooperation, patience and compromise they have shown in these negotiations.

The company has agreed not to file another general tariff case for two years, barring unforeseen circumstances.

Copyright 2021 WIS. All rights reserved.

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Brazil sees transaction boom led by energy, retail and healthcare

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A sign shows the prices of ethanol and gasoline at a gas station in Cuiaba, Brazil on October 2, 2019. REUTERS / Marcelo Teixeira

SAO PAULO, July 2 (Reuters) – Brazilian firms launch massive stock offerings and mergers and acquisitions deals, as Latin America’s largest economy recovers from COVID pandemic with expected GDP growth 5% full-year, potentially shifting the energy sectors further to healthcare.

M&A volume increased eightfold in the first half of 2021 compared to the same period a year earlier, to $ 56.8 billion, while share offerings totaled $ 15.3 billion , up 55%.

Bankers expect activity to remain strong in the second half of the year, boosted by a bullish economic outlook, with sectors such as retail and fintech in the spotlight.

In the first half of the year, the acquisition of Notre Dame Intermedica by healthcare operator Hapvida for $ 9.58 billion was the seventh largest deal in emerging markets, while the acquisition by state-owned oil company Petrobras $ 6.45 billion from the Atapu and Sepia deep-water oil fields ranked thirteenth.

The privatization of Rio de Janeiro’s water and sewerage utility, Cedae, raised around $ 4 billion, attracting Singapore’s GIC, Canadian pension fund CPPIB and local holding company Itausa.

“There is a virtuous circle for transactions: economic activity is picking up, benchmark interest rates are low and money is available,” said Eduardo Miras, head of investment banking in Brazil at Citi.

Brazil’s largest share offering this year came on the last day of June, with the sale of Petrobras’ stake in fuel distributor Petrobras Distribuidora SA (BRDT3.SA). Petroleo Brasileiro SA (PETR4.SA), as the seller is officially known, has raised 11.36 billion reais ($ 2.3 billion).

Companies such as energy company Raizen, a joint venture between Cosan SA and Royal Dutch Shell Plc (RDSa.L), cement manufacturer Intercement Brasil SA and oncology clinic chain Oncoclinicas plan to set the price of introductions in stock market worth several billion real dollars in the coming weeks.

The deals are expected to attract deep-pocketed foreign investors, who avoided offers of Brazilian stocks earlier this year amid a pandemic and political turmoil, taking the place of domestic investors who had become more cautious.

“Foreign investors are no longer so worried about the pandemic as the pace of vaccination has picked up in recent weeks,” said Roderick Greenlees, head of investment banking at Itau BBA, who topped the rankings actions in the first half of the year. He predicted that stock offerings will reach R $ 160 billion this year, a 33% increase from 2020.

Foreign investors spent 65.1 million reais to buy shares in Brazilian companies, net of cash outflows, in the first half of the year, according to stockbroker B3, compared with a net outflow of 62.8 billion reais in the last half of the year. the same period a year ago.

Yet domestic investors have become more timid, with benchmark interest rates falling from 2% in January to 4.25%. Equity funds raised R $ 1.7 billion in net new money this year through May, eclipsed by net inflows of R $ 94.1 billion to fixed income funds.

OFFER CYCLE

Strong capital markets activity also increases funds available for acquisitions, said Bruno Amaral, head of mergers and acquisitions at Banco BTG Pactual, who led the ranking of mergers and acquisitions in Brazil in the first half of the year.

Industries hard hit during the pandemic, such as retail, have been among the most active in transactions in recent months as Brazil recovers and consumption increases, Amaral said.

“We are also seeing many transactions in the financial sector, mainly fintechs against the big banks, and in health,” he added.

Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) led a $ 750 million fundraiser in fast-growing fintech Nubank, while private equity firm Advent International invested $ 430 million in the Ebanx payment. Read more

Below are the rankings in Brazil for M&A advisory and ECM bookkeeping in the first semester

M&A – Announcement of a Brazilian target

Source – Refinitiv Deals Intelligence

ECM – Global and Related Equities – Brazil

Source – Refinitiv Deals Intelligence

Reporting by Carolina Mandl and Tatiana Bautzer, in Sao Paulo; Editing by Christian Plumb and Steve Orlofsky

Our standards: Thomson Reuters Trust Principles.

Where does Enphase Energy Inc (ENPH) stock fall in the solar field after rising 6.29% this week?

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A rating of 83 places Enphase Energy Inc (ENPH) near the top of the solar industry according to Investors Observer. Enphase Energy Inc’s score of 83 means it scores over 83% of stocks in the industry. Enphase Energy Inc also received an overall rating of 37, placing it above 37% of all stocks. Solar is ranked 142 out of 148 industries.

ENPH has an overall score of 37. Find out what that means to you and get the rest of the leaderboard on ENPH!

What do these notes mean?

Analyzing inventory can be difficult. There are tons of numbers and ratios out there, and it can be hard to remember what they all mean and what counts as “good” for a given value. Investors Observer ranks stocks according to eight different measures. We rank most of our scores in percentiles to make it easier for investors to understand. A score of 37 means the stock is more attractive than 37% of the stock.

These rankings allow you to easily compare stocks and see what are the strengths and weaknesses of a particular business. This allows you to find the stocks with the best prospects for short and long term growth in seconds. The combined score incorporates technical and fundamental analysis in order to give a comprehensive overview of a stock’s performance. Investors who then want to focus on rankings or analyst ratings can see separate scores for each section.

What is happening with Enphase Energy Inc stock today?

Enphase Energy Inc (ENPH) stock is trading at $ 186.43 at 9:35 a.m. on Friday, July 2, an increase of $ 3.32, or 1.81% from the previous closing price of 183.11 $. The stock has traded between $ 185.45 and $ 187.57 so far today. The volume is now below average. So far, 13,711 shares have been traded for an average volume of 2,769,637 shares.

Click here for the full stock valuation report of Enphase Energy Inc (ENPH).

Energy company EXIST ranks 1st in Turkish Fortune 500 list

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Fortune magazine’s list of Turkey’s top 500 companies released on Friday revealed that energy company Energy Exchange Istanbul (EXIST) took first place in terms of net sales, overtaking energy giant TÜPRAŞ, which fell to second square.

EXIST sales totaled 105.8 billion TL ($ 15.07 billion) in 2020, up 20.3% on an annual basis, according to a statement released by the magazine.

TÜPRAŞ, number two on the list, reported sales of TL 63.24 billion in 2020, down 29.4% year-on-year.

Amid the pandemic – which led to the closure of most stores except supermarkets – discount grocery chain BIM was third, down from sixth in 2019, with net sales worth TL 55.49 billion, up 38% year over year in 2020.

The average US dollar / Turkish lira exchange rate in 2020 was 7.02.

Automotive group Ford ($ 7 billion), airline Turkish Airlines ($ 6.6 billion), oil supplier Petrol Ofisi ($ 6.22 billion), Ahlatcı jewelry ($ 5.9 billion) ), major household appliance producer Arçelik ($ 5.8 billion) round out the top 10 on the list. ) and oil supplier Opet ($ 5.21 billion).

Total net sales of the top 500 companies in 2020 reached TL 1.94 trillion, up 6.3% year-on-year, the statement said.

EXIST’s share in the total net sales of the 500 companies was 5.5%, the magazine noted.

He said: “The number of companies with a net turnover of over TL 1 billion, which was 323 in the 2019 list, has increased to 353 in the 2020 list.

“The number of companies with net sales of over TL 10 billion has increased from 33 to 37.”

Exports

Under the conditions of the pandemic, the total exports of the 500 companies – TL 471 billion – fell 26.1% in US dollars and 8.7% in Turkish lira.

“While 75.7% of Fortune 500 companies’ net sales in Turkey consisted of domestic sales, the export share fell to 24.3%,” he said.

The 500 companies accounted for 32.9% of the country’s overall exports of $ 204.1 billion in 2020.

The national carrier Turkish Airlines was the largest company on the list in terms of exports, followed by Ford and Arçelik.

Gay energy company worker wins £ 35,000 payout after staff repeatedly used homophobic slurs

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Gay energy worker won £ 35,000 payout after staff repeatedly used homophobic slurs and boss told him he was fed up with Gay Pride “rubbing his face “.

Dan Robson, 28, was harassed about his sexuality on a daily basis during the six months he worked as a consultant at Northern Gas and Power (NGP), the Leeds Labor Court hearing said.

It consisted of being called a “f *** ing f **** t”, meaning “m *** e faster” to get to work on time and the repeated use of insults homophobic, including “queer, fairy, p * * f, p *** er, b *** er, m *** er or f **** t ‘.

The court heard that when Mr Robson first joined the company, he was greeted by a colleague yelling, “Great, there’s a fucking dick in the office.”

Another jibe featured a staff member having him choose between fancy treats in the shape of a penis or a woman’s breast.

A senior colleague, who said gay sex was ‘unnatural’, later described Mr Robson’s resignation as a ‘good cleanup’, prompting him to report it to police as a hate crime.

Mr Robson has now secured substantial compensation after taking the northern-based company to court for harassment, victimization and constructive dismissal.

And the panel found the company’s failings so serious that it ordered NGP to pay an additional fine of more than £ 18,000 to the government.

Dan Robson (pictured above), 28, suffered daily harassment about his sexuality during the six months he worked as a consultant at Northern Gas and Power (NGP), the hearing of the labor court in Leeds.

The hearing was told that Mr Robson, a university graduate, who was the only gay member of staff, had started working at the company’s Leeds office in January 2019.

The day before his start date, he had filled out the company’s equal opportunity form in which he identified himself as a gay man – but the company did not keep the document confidential.

As a result, on his first day Karl Manterfield shouted as he walked in: ‘Great, there’s some fucking shit in the office,’ which other staff laughed at, the court heard.

Describing himself as “stunned and deeply upset”, Mr Robson told the hearing: “It was clearly considered funny for someone to make such a remark.”

Although he chose to try to ignore the incident first because he was new to the job, Mr. Robson found himself facing repeated harassment.

The court found that “the culture of the Leeds office was accurately described as ‘toxic’ involving the daily use of racist, homophobic and anti-Semitic language that some managers and senior executives have actively engaged in seeing as an acceptable joke. between friends and colleagues ”.

He said remarks such as Mr Manterfield’s were seen as “jovial jokes”, adding: “Daily homophobic slurs were used in the office as part of normal conversation”.

The court heard that the following month, “on a closer look”, Chris Price told Mr Robson and other members of his team that two men having sex were “unnatural and not well”.

Then, in March, her boss Graeme Peat mentioned the annual Gay Pride event.

“Mr. Peat was browsing social media on his phone and saw that Gay Pride was a topic of discussion,” the court said.

“He said he was fed up with seeing things about it when he was ‘at least 3 months away’, addressing his comment to (Mr Robson).

“(He) sensed that Mr. Peat was trying to provoke a debate and urged him to respond, as his role was to defend Gay Pride. (He) tried to explain why it was a celebration.

“Mr. Peat said he was going to launch Straight Pride in retaliation for gays who rub Gay Pride in his face.

“(Mr. Robson) described how the comments made him very angry. He felt like he was being forced into a conversation he didn’t want to have with his manager.

“Then he lingered on that conversation and found it hard to forget it. It was a humiliating, unnecessary and degrading experience, leaving the Applicant to fear what his manager might say next.

At the hearing, Mr. Peat denied this account of the conversation. However, the court sided with Mr. Robson.

Then, in June, his colleague Kieran Dixon – whom the court heard he had previously called into the office “oi, ya fucking shit” to Mr. Robson – handed out novelty treats.

“Mr. Dixon gave penis-shaped candy to his female colleagues and breast-shaped candy to his male colleagues,” the court said.

“(Mr. Robson) remembers when Mr. Dixon came over to give the applicant a candy he said,” Ha ha. I don’t know which one to give you.

“(Mr. Robson) felt he was put in the spotlight because of his sexual orientation. He was afraid to show his embarrassment. To distract from his sexuality, he chose a breast-shaped pacifier.

“He felt bad afterwards and thought he should have handled the situation differently.”

The court heard that when he complained to NGP director Scott High he was ignored. He resigned his £ 25,000-a-year job four days later after receiving an offer to join an energy start-up.

The audience was told that after his resignation, Mr. Price sent a message to his colleagues saying, “It’s gays, all blacks and ethnic groups gone.” Good cleaning if you ask me ”.

Mr Robson, of Leeds, said he considered the remark “the most hurtful and offensive comment” he had received.

“The effect was degrading as it made her ‘ashamed of me like I was dirty from my sexuality and as such should be removed as I did not conform to the predominantly heterosexual white in the office”, ” the court said.

Confirming Mr Robson’s claims, Judge Rita Rogerson said: “There has been continued very serious conduct, repeated and frequent homophobic abuse by a number of perpetrators, including senior employees and managers at the 6 month course. “

In a statement, Northern Gas and Power Director Paul Barrett said: “Northern Gas and Power is an equal opportunity employer and very proud to have cultivated a diverse workforce.

“In our last report, 10% of our population identified as lesbian, gay or bisexual, compared to 2.7% on the national average. We have been recognized for our corporate culture with numerous awards and take the work of supporting our people very seriously.

“We strongly believe that the harassment the court found was an isolated issue and, consistent with our zero tolerance approach, all employees who participated in it are no longer employed.”

He added: “The issues were only brought to the attention of our human resources or management team after Mr. Robson left our job and many specific examples were not disclosed to us until very late. in the court process.

“In our history, we have never had a complaint of this nature before and we are confident that we are taking all necessary measures to ensure that this does not happen again.”

Including a further claim that NGP did not help support his dyslexia, Mr Robson was awarded a total of £ 36,707.

The company was also ordered to pay a government fine of £ 18,353 for the “aggravating features” of the discrimination to which he was subjected.

DTE Energy spin-off DT Midstream considers carbon capture as it begins to market as a new independent company

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DT Midstream Inc., the Detroit-based DTE Energy derivative gas pipeline operator, which began trading on the New York Stock Exchange on Thursday, has an eye on carbon capture as it assesses how to seize emerging opportunities of the energy transition.

DT “is actively working” around technologies to reduce its greenhouse gas emissions and sees carbon sequestration as “the most interesting and the one that will emerge soonest,” CEO David Slater said in an interview.

U.S. pipeline companies have increasingly looked for ways to make their vast array of fossil fuel pipelines still relevant in a low-carbon economy and have mostly abandoned new projects due to fierce opposition from the public. climate advocates. Other possibilities include the transport of hydrogen or carbon dioxide captured in the air.

Energy companies such as Occidental Petroleum Corp. and Valero Energy Corp. recently announced carbon sequestration plans, which climatologists have long viewed as essential to meeting emission reduction targets.

“It’s a really attractive way to reduce the carbon footprint and it’s backed by federal tax credits,” Slater said in an interview. “I think this will be one of the first areas of this trip.”

Meanwhile, Detroit-based DT Midstream is focused on expanding the capacity of its existing pipelines through additional investments to take advantage of the growing use of natural gas. The company operates nearly 1,200 miles of pipelines and over 1,000 miles of gathering lines in the gas-rich basins of Marcellus, Utica and Haynesville. Opportunities are emerging in particular at Haynesville, a formation that covers parts of Arkansas, Louisiana and eastern Texas, amid growing drilling activity and strong demand from both domestic markets. and exporters of liquefied natural gas, according to Slater.

“We’re seeing a lot of organic growth,” Slater said. The company expects earnings before interest, taxes and other items to increase 7% to $ 750 million this year.

Utilities from Dominion Energy Inc. to CenterPoint Energy Inc. to Consolidated Edison Inc. have discontinued their pipeline operations as they focus on faster growing renewables.

DT Midstream was trading at $ 39.25 a share at 10:09 a.m. in New York. Credit Suisse analyst Spiro Dounis previously made an equivalent buy recommendation and set a target price of $ 52 on the stock.

LNG prices in Asia climb to $ 14 / mmBtu as demand remains robust

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A South Korean-owned LNG tanker is seen at the Sembawabg Shipyard in Singapore on July 20, 2017. REUTERS / Staff / File Photo

  • Highest seasonal price since 2013
  • Higher prices don’t deter buyers in South Asia
  • Wholesale gas prices in the Netherlands and UK hit record highs

SINGAPORE, July 2 (Reuters) – Spot prices for liquefied natural gas (LNG) in Asia hit a new eight-year seasonal high this week, as demand remained robust globally for production needs electricity in summer.

The average LNG price for August delivery in North East Asia was estimated at around $ 14 per million British thermal units (mmBtu), up $ 1.50 from the previous week, the report said. commercial sources.

This is the highest level spot prices have climbed for this time of year since 2013, according to Reuters data.

Global natural gas prices are reaching multi-year highs, with high temperatures increasing demand for power generation in the northern hemisphere for air conditioning and traders in some areas restocking their stocks before winter. Read more

Demand from Latin America was also strong as drought affected Brazil’s hydropower, increasing its LNG imports, trade sources said. Argentina’s energy company Integracion Energetica Argentina (IEASA) is also looking for four shipments to be delivered in August and September, they added.

Buyers in Bangladesh and Pakistan paid more than $ 13 per mmBtu for cargoes to be delivered in July to meet summer air conditioning demand, the sources said.

Bangladesh is expected to continue procuring a one-time shipment per month from August to November, a senior official at state-owned company Petrobangla told Reuters.

“Global LNG prices are rising, but nowhere is this the abnormal level we saw at the start of this year,” he added.

Gail India is looking for a cargo to be delivered in July to Dahej in a tender that ends Friday, while India’s Petronet has likely not awarded a tender looking for cargoes to deliver in the third quarter, industry sources said.

Russian firm Sakhalin Energy likely assigned a cargo for the August load at around $ 13.70 to $ 13.95 per mmBtu on a delivered basis, one said.

In a ripple effect of high spot LNG prices in Asia, benchmark European gas prices soared this week, with first-month UK and Dutch contracts both reaching record highs on Thursday.

Reporting by Jessica Jaganathan, additional reporting by Ruma Paul in Dhaka; edited by Uttaresh.V

Our standards: Thomson Reuters Trust Principles.