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China’s new energy storage will see large-scale development by 2025

China aims to further develop its new energy storage capacity, which is expected to move from the initial commercialization stage to full-scale development by 2025, with an installed capacity of more than 30 million KW. The National Development and Reform Commission (NDRC) said the cost of new energy storage systems will be reduced by more than 30% in 2025 compared to 2020 prices.

The country is committed to achieving the fully market-oriented development of new energy storage by 2030, as part of efforts to boost renewable energy consumption while ensuring stable operation of the grid system. electricity, according to a statement from the NDRC and the National Energy Administration.

New energy storage refers to electricity storage processes that use electrochemical, compressed air, flywheel, and supercapacitor systems, but not pumped hydroelectricity, which uses water stored behind dams to generate electricity when needed.

China aims to further develop its new energy storage systems, which are expected to move from the initial commercialization stage to full-scale development by 2025, with an installed capacity of more than 30 million KW. The National Development and Reform Commission said the cost of these systems would be reduced by more than 30% in 2025 compared to 2020 prices.

Analysts said accelerating the development of new energy storage will help the country achieve its goal of peaking carbon emissions by 2030 and achieving carbon neutrality by 2060, as well as its ambition. to build a clean, low-carbon, safe and efficient energy system, state-controlled media in the country reported.

China is currently the largest electricity producer in the world. While it aims for renewable energy to account for more than half of its total electricity generation capacity by 2025, compared to 42% currently, this would create difficulties in maintaining stable operation of the electricity grid system. , because renewable energy is subject to variable weather conditions.

Fibre2Fashion (DS) News Desk

Relief needed now | Opinion of the applicant

President Duterte last week convened military and other senior officials for a special meeting on the potential impact of the Ukraine-Russia conflict on the country, particularly on fuel prices. But instead of immediate solutions to stop the sustained increase in pump prices of petroleum products, what has emerged are action plans that will take years to implement, with the exception of the Pantawid Pasada program 2.5 billion pesos and a fuel discount of 500 million pesos for farmers. and Department of Energy (DOE) recommended anglers.

The culmination of what acting presidential spokesman Karlo Nograles announced was Malacañang’s call for Congress to reconsider certain aspects of the Petroleum Deregulation Act, “particularly the provisions on the unbundling of prices and the inclusion of minimum inventory requirements in the law, as well as the powers of intervention of the government to intervene in the event of peaks and/or prolonged increases in the prices of petroleum products.

Pandemic-weary consumers have been grappling with rising oil prices since the start of the year. Threats of a continued spike persist as analysts warned of oil supply disruptions following attacks by Russia, a major oil exporter, on Ukraine. This week, local pump prices are expected to increase by P3 per litre. This will be the 10th consecutive week of rising prices. Since January, the net cumulative increase has averaged P11 per liter of diesel, gasoline and kerosene. Transportation groups have asked for a fare increase to help utility drivers recoup some of the increased fuel cost. Commodity prices are also expected to rise as higher fuel prices push up production costs.

When asked if Congress could still tackle the revision of the Oil Deregulation Act when the campaign period had already begun for the national elections in May, Senate President Tito Sotto said said Mr. Duterte should call a special session. Congress was adjourned on February 4 and will resume on May 23, or after national and local elections on May 9. Malacañang has so far not said whether the president is inclined to do so.

In the aftermath of the Palace meeting on the Ukraine-Russia conflict, Malacañang released a copy of an executive decree to include nuclear power in the country’s energy mix, a controversial move that sparked opposition on the day of his announcement. The Feb. 28 order, released Thursday last week, can be an important step for an economy that suffers from seasonal blackouts and high electricity prices. Signed at the twilight of Mr. Duterte’s term, the order directs an interagency panel to review the reopening of the Bataan Nuclear Power Plant (BNPP), the mothballed building that long symbolized corruption during the Marcos dictatorship .

Energy Secretary Alfonso Cusi has long supported nuclear power and says it can help alleviate energy supply problems and high costs. At a press briefing last week, Deputy Energy Secretary Gerardo Erguiza also claimed that new technologies have made nuclear a safer source of energy. But a new regulatory framework needs to be developed, he said, to make investments in nuclear energy more feasible and attractive to both government and the private sector. However, even with a new framework, he said the first possible use of nuclear power may not occur until 2027.

It is disappointing that instead of putting in place courses of action that will have the immediate effect of mitigating the impact of soaring fuel prices, the government has chosen to act on measures that will take years to bear their fruits for consumers. He should have called for emergency measures that are achievable now. The suspension of excise duties on petroleum products is a measure that has the immediate effect of lowering the price of fuel at the pump.

For consumers, energy conservation is the way to go now. The DOE can reiterate its call launched two years ago after the new escalation of tensions in the Middle East: [We] emphasize the urgency of fully implementing energy conservation and efficiency programs… In this regard, we continue to call on the public to adopt an energy-efficient lifestyle and explore measures such as carpooling, walking short distances or using energy-efficient devices. As tens of thousands of workers return to their workplaces under Alert Level 1, these measures will help ease the burden of rising fuel prices on ordinary consumers.

Revision of the Petroleum Deregulation Act to empower the government to interfere in the pricing and supply of petroleum products to protect consumers from unnecessary fuel price spikes, and the inclusion of nuclear power in the energy mix to hopefully drive down electricity prices are laudable efforts that many years later and these are best addressed by the administration to be elected in May. Meanwhile, as the country’s economic managers meet today to discuss rising fuel prices, it is hoped the government can come up with measures to help ease the plight of struggling consumers now.

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Secure Energy Services (TSE:SES) PT rose to C$8.25 at Raymond James


Secure energy services (TSE: SES – Get a rating) saw its price target raised by Raymond James research analysts from C$7.75 to C$8.25 in a research report delivered to clients and investors on Friday, BayStreet.CA reports. The company currently has a “Strong Buy” rating on the stock. Raymond James’ target price would suggest a potential upside of 47.85% from the company’s current price.

Other equity research analysts have also published reports on the company. National Bankshares raised its target price on Secure Energy Services from CA$6.50 to CA$8.00 in a Wednesday, January 26 research report. CIBC raised its price target on Secure Energy Services from CA$7.00 to CA$7.50 in a Thursday, January 13 report. Finally, BMO Capital Markets reiterated a “buy” rating and issued a C$7.50 target price on Secure Energy Services shares in a report on Friday. Seven equity research analysts gave the stock a buy rating and two gave the stock a strong buy rating. According to MarketBeat, Secure Energy Services has an average buy rating and consensus price target of CA$7.23.

Shares of TSE SES were down C$0.14 during Friday’s session, hitting C$5.58. The company had a trading volume of 1,044,101 shares, against an average volume of 865,473. Secure Energy Services has a 52-week low of C$3.15 and a 52-week high of C$6.58 CAN. The company’s 50-day moving average is C$5.85 and its 200-day moving average is C$5.21. The company has a market capitalization of C$1.72 billion and a P/E ratio of -14.28. The company has a debt ratio of 103.38, a quick ratio of 0.96 and a current ratio of 1.21.

(A d)

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About secure energy services (Get a rating)

Secure Energy Services Inc, an energy services company, provides specialized solutions to upstream oil and gas companies operating primarily in the Western Canadian Sedimentary Basin and the United States. The Company’s Midstream Infrastructure segment provides services, such as clean oil terminal, rail transshipment, pipeline transportation, crude oil marketing and custom processing, produced and waste water disposal, waste treatment fields and the purchase/resale of petroleum services through its full-service terminals. , railway facilities, oil pipelines, crude oil terminal facilities, sewage facilities and landfills.

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Maine’s pension system stuck with worthless Russian assets


AUGUSTA, Maine — Maine’s state employee retirement system wants to ditch Russian investments that are effectively worthless after the invasion of Ukraine, but it can’t right now.

State pension systems are balancing a volatile market entering the second week of Russian leader Vladimir Putin’s invasion with a desire to divest from the country. Russia blocked brokers from selling securities held by foreign investors this week in response to searing sanctions by the United States and its allies that ravaged Russia’s economy almost overnight.

Maine’s holdings — valued at just under $19 million at the end of January and spread across 22 different investments — accounted for about one-thousandth of the $19.3 billion managed by the Maine Public Employee Retirement System. The total fund is down about 1% since late February due to broader economic strife stemming from the conflict.

The majority of the stakes are held in three companies: two energy giants, the state-owned Gazprom and the private company Lukoil, and Sberbank, the country’s largest bank. The holdings have been basically worthless since the ruble bottomed, said James Bennett, chief investment officer of the Maine Retirement System. But he said that should only be a small problem.

“[$18 million] it’s a lot of money, but not so much in the grand scheme of things,” Bennett said. “We are monitoring the situation closely.”

The Maine fund’s larger decline is partly due to the state’s non-U.S. public equity holdings being tied to a large foreign stock index which sent Russian stocks plummeting two days ago. Russia represented about 1% of the countries in which Maine was invested via this index. This particular move still had relatively little effect as stocks had already fallen.

US pension systems are not closely tied to Russia. Kentucky sold shares of Sberbank just before the invasion and suffered a relatively modest loss, according to Louisville Courier Journal. California had about the same share of its plan invested in Russia as Maine, The Los Angeles Times reported. The Missouri fund had about $18.6 million in investments which plunged to $1.6 million this week, the Missouri Independent reported.

The 1% decrease is not unusual, Bennett said, because the value of Maine’s system changes throughout the year. But there are options if things get worse. Other stocks are also affected by market fluctuations, and some stocks are more vulnerable that others.

Bennett said the state is constantly making new investments and selling them off, so it has room to rebalance. But foreign conflict is one reason Maine has a diverse portfolio, Bennett said.

“If we had all our money in Russian stocks, we would be in huge trouble,” he said.

Kentucky utility companies offer energy-saving tips


LEXINGTON, Ky. (FOX 56) – Utility companies in Kentucky know how heavy energy bills have been lately. Kentucky Utility, Nicholasville’s Department of Energy, and Kentucky Electric Cooperatives offer their customers practical energy-saving tips.

The first piece of advice is to remember to turn off the emergency heaters.

During January’s cold-weather systems, customers had to use their emergency heaters, and the Nicholasville Utilities department said many customers just discovered they forgot to turn it off.

“If it’s in emergency mode, it can be twice as much as normal operation,” said Joe Amato, director of utilities and finance for the City of Nicholasville.

Kentucky Utilities (KU) said it was the same reason their energy costs rose.

Daniel Lowrey, KU spokesman, said: “Our heating systems have to work much harder to maintain a constant temperature in our homes, and that’s when we see an increase in energy consumption. ‘energy.”

To combat these increases in energy consumption, Lowrey offered the following tips:

KU’s Daniel Lowrey offers the above energy-saving tips to help keep bills down. (Danielle Miskel)

“Also, be sure to seal any leaks and gaps, you want to help keep that cold air out and warm air in, because even the tiniest crack around a window or ‘a door can really hurt your energy bill,’ Lowrey said.

If the aforementioned adjustments aren’t enough, KU said it offers payment options for those high bills.

“We can set up payment plans and connect them to other resources to provide support,” Lowrey said.

Kentucky Electric Cooperative and KU said they also offer level budget plans to help maintain consistent payments for their customers during colder months.

Joe Arnold, spokesman for the Kentucky Electric Cooperative, said, “Instead of paying peaks and troughs, you’re going to pay essentially the average, but you’re paying the same in January as in March, as in June . .”

Ultimately, Lowrey said when it comes to converting fuel to dollars, every degree counts.

“Each degree saves you about two percent on your heating bill. So, for example, five degrees would save you a hundred dollars on a thousand dollar annual heating bill,” Lowrey said.

KU said inquiries are welcome and if the costs still don’t seem to be piling up, call them at 800-981-0600.

To contact Kentucky Electric Cooperatives, click on the following link: Contact – Kentucky Electric Cooperatives

To reach the Nicholasville Utilities Department, call 859-885-9473.

Will the Russian invasion accelerate peak oil?


It was 1973 when a war between Israel and a coalition of Arab states led Saudi Arabia and other oil producers to impose an embargo on crude shipments to the United States.

Oil prices soared and the way the world consumed energy changed. France has built a fleet of nuclear power plants. Japan too; it has also started importing liquefied natural gas. In the United States, the use of petroleum for electricity generation has dropped and been replaced by coal and nuclear power.

Half a century later, another conflict is shaking global energy markets. The question now is how Russia’s invasion of Ukraine will change the global energy system.

The conflict is against radical changes in the energy sector. A growing number of countries and companies are committing to phasing out fossil fuels and adopting cleaner alternatives in the fight against climate change, even as the global use of fossil fuels continues to rise.

These competing trends make it difficult to predict the future of global energy systems. Russia’s attack on Ukraine further complicates the forecast.

Some analysts say the attack on Ukraine could hasten the world’s transition away from fossil fuels, especially in Europe. Others say the war could reveal just how dependent people are on fossil fuels.

But few wonder if the conflict will change the way the world uses energy.

“Shocks alter countries’ energy mixes,” said Nikos Tsafos, who tracks energy and geopolitics at the Center for Strategic and International Studies.

Europe was already considering a fundamental change in the continent’s energy system before the invasion was ordered by Russian President Vladimir Putin. The attack will likely hasten that transition, given Europe’s dependence on Russian gas, Tsafos said.

German Chancellor Olaf Scholz announced this week that the country would accelerate its timetable by 15 years to produce almost all of its electricity from renewables by 2035.

“Things that come out of the mouths of European leaders have never come out of the mouths of their leaders before,” Tsafos said. “There’s a different strategic will coming out of Europe, and if you don’t factor that into your model, I think you’re missing something.”

The impact could be felt globally as clean energy supply chains serving Europe expand to benefit other parts of the world.

“Whatever you thought demand for hydrocarbons was last week, it’s less now,” he said.

Yet others said there was little evidence to support the idea that the world will use the crisis to accelerate the move away from fossil fuels. The multiplication of climate promises in recent years is part of a context of explosion in the consumption of fossil fuels. The International Energy Agency estimates oil demand will exceed pre-pandemic levels this year.

Western sanctions and the withdrawal of oil companies from Russia will likely curb the growth of the oil industry under Putin, said Robert McNally, chairman of Rapidan Energy Group and a former economic adviser to the George W. Bush administration.

If global oil demand continues to climb in the future, it could leave the world scrambling to find additional barrels if Russia’s oil industry is diminished by the global response to its invasion, McNally said.

“I really think your stance on Russia depends on where you stand relative to peak oil demand,” said McNally, who believes demand will increase. “I think we’re a year or two away from looking out the window and saying, ‘Oh my God, we’re not decarbonizing as fast as we need to. If I’m right about Russia’s inability to develop, that will be a very big problem.

There are important differences between the current crisis and that of 1973. On the one hand, the Organization of the Petroleum Exporting Countries will probably try to avoid large-scale supply disruptions – the exact opposite of the embargo that the ‘OPEC set up in 1973. Saudi Arabia already has plans to increase production by 1 million barrels per day by 2027.

“Saudi Arabia and the United Arab Emirates will be watching carefully to see if there will be any disruption in oil flows,” said Jim Krane, who studies oil markets at Rice University’s Baker Institute for Public Policy.

While the two countries are keen to avoid angering Russia after years of working together in OPEC+, “their first allegiance will be to keep oil markets well supplied and to replace any shortages coming from Russia,” he said. Krane said.

Russia produces 11 million barrels of oil per day, making it the world’s third largest producer behind the United States and Saudi Arabia. The country exports between 5 and 6 million barrels of crude per day, about half of which is destined for Europe. An additional 1.6 million barrels are being shipped to China, according to recent analysis by Amy Myers Jaffe, managing director of Tufts University’s Climate Policy Lab.

Venezuela’s and Iran’s past experiences offer insight into how crippling sanctions on Russia could affect the country’s oil industry. These countries were able to find buyers for their crude, but were forced to sell it at a discount.

While Western sanctions have so far evaded Russia’s energy sector, some of its crudes are trading at very favorable prices.

Jaffe said in an interview that she expects the crisis to prompt European countries to review their energy mix. But that change will take time, she said.

“In the short term, it’s difficult. There is only some flexibility to move away from path dependency of our existing infrastructure,” Jaffe said.

Thane Gustafson, a professor at Georgetown University who studies Russia and has written about its oil and gas sector, echoed that assessment.

When the Soviet Union fell, Western oil companies flocked to Russia. The country’s oil companies have now mastered hydraulic fracturing and horizontal drilling after years of working with companies like Halliburton and Schulmberger. This reduces the impact of departures like BP PLC, Exxon Mobil Corp. and Shell PLC, both of which announced this week that they would exit their Russian operations.

Most forecasts, meanwhile, show that oil demand will continue to rise this decade.

“The implication is that Russia will continue its hydrocarbon model for another decade,” Gustafson said.

The situation becomes more difficult for Russia in the 2030s, when decarbonization trends are expected to take hold and oil demand begins to level off and decline. The higher cost of producing a barrel of oil in Russia could leave the country out of a shrinking global oil market, he said.

The question for the world is whether the conflict in Ukraine is slowing the broader energy transition.

“There is such inertia in the energy structure. The energy transition is bound to be slow, even if there are unexpected surprises such as the incredible drop in the cost of renewable energy or the tremendous increase in global sales of electric vehicles,” Gustafson said. “The energy transition requires huge investments and the commitment of governments. This does not happen by chance. This requires a more or less functioning global economy.

Reprinted from E&E News with permission from POLITICO, LLC. Copyright 2022. E&E News provides essential information for energy and environmental professionals.

– Bath Church wins national award

The Neighborhood United Church of Christ is one of six national winners of the Interfaith Power and Light 2022 Cool Congregations Challenge. The annual competition accepts entries from faith communities across the United States who are working to fight global warming by getting rid of fossil fuels and creating models of sustainability in their communities.

The church took first place in the ‘Community Inspiration’ category for its persistence in successfully persuading
the city to update the land use code to allow solar installations visible from the street in historic Bath, and to
offering a five-part virtual series titled “Bath Cares for Its Climate Future” focusing on sustainability topics including

In 2017, The Neighborhood planned to install an air-source heat pump and solar system to generate enough energy to meet its energy needs. The church started fundraising and initially turned to an energy audit. Next come building weatherization, attic insulation, LED lighting and insulating window inserts. A mini-split heat pump took over the congregation’s heating duties in the winter of 2019, and finally came solar last fall.

The system is financed partly by four low-interest short-term loans from individuals, and partly by the savings already
generated by the solar system on the roof.

An unforeseen problem arose when the congregation learned that city code did not allow solar power visible from the street in the historic district where the church is located. The district pursued an amendment to the code, increasing the necessary fees and drafting several draft amendments.

“The people of The Neighborhood UCC are so grateful to receive this award. We are a congregation that embraces the belief that we see Jesus in all of our neighbors and in all of creation,” said Reverend Holly Reid, co-pastor of The Neighborhood “Climate change will bring suffering to all of creation. We believe it is the role of faith communities to provide hope by demonstrating how we can live differently.”

“The neighborhood and five other national winning congregations project a vision of the kind of world they want to live in, then realize that vision with practical actions that make a real difference in creating lasting solutions to climate change,” said Rev. . Susan Hendershot, President of Interfaith Power and Light.

Interfaith Power & Light mobilizes a religious response to the climate crisis in congregations by promoting energy conservation, energy efficiency and renewable energy. The Cool Congregations Challenge shows that believers are united by concerns about global warming and taking action – with or without the support of government policies. Winners provide strong moral role models for their communities, and their activities have a ripple effect on people seeking to make their homes fossil fuel free.

1st Energy now accepts cryptocurrency for bill payments


1st Energy has become Australia’s first electricity retailer to accept cryptocurrency for bill payment, announcing a new partnership with the world’s largest crypto merchant.

From March 4, customers will be able to pay their electricity bills by selecting a variety of cryptocurrencies offered by BitPay – a US-founded platform that provides services to companies like Microsoft and AT&T.

The Aussie-owned energy provider said the process is “simple and secure” and there are no fees or charges for crypto payments.

More and more Australians are using this form of digital currency and looking for payment alternatives, said 1st Energy representative Felix Baillie.

“As a small retailer, we’re all about choice first, and part of that is giving customers the ability to pay the way they want,” he said.

1st Energy Prize

Here are the 1st Energy plans in our database for Victoria. These costs are based on the Citipower network in Melbourne, but prices may vary depending on your location. This comparison assumes a general energy consumption of 4,000 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchasing decision.

Here are the 1st energy plans on our database for NSW. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your location. This comparison assumes a general energy consumption of 3,900 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchase decision.

Here are the 1st energy plans on our database for SE QLD. These costs are based on the Energex network in Brisbane but prices may vary depending on your location. This comparison assumes a general energy consumption of 4,600 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchase decision.

Here are the 1st Energy Plans in our database for South Australia. These costs are based on the SA Power network in Adelaide, but prices may vary depending on your location. This comparison assumes a general energy consumption of 4,000 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchase decision.

How do 1st Energy customers pay with cryptocurrency?

Customers will see a QR code with the amount of their chosen crypto needed to make a bill payment. The price will be locked for 15 minutes, which will allow enough time for the client to complete a trade. Bill payers can choose from the following 13 cryptocurrencies:

  • Bitcoin (BTC)
  • Bitcoin Money (BCH)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Shiba Inu (SHIB)
  • Wrapped Bitcoin (WBTC)
  • XRP (XRP)
  • Five USD-pegged stablecoins – BUSD, DAI, GUSD, USDC, and USDP

“Cryptocurrency is going mainstream and there are millions of consumers who want to pay for everyday items like energy services and 1st Energy is taking the lead across Australia to make it available,” said Merrick Theobald. , Vice President of Marketing for BitPay.

Where does 1st Energy operate?

1st Energy is an electricity retailer with operations in New South Wales, Victoria, South East Queensland, South Australia and Tasmania. At the time of publication, 1st Energy is priced competitively in Victoria, where the power company is based, and offers some value in other states in the form of a conditional discount.

Compare energy prices

Here are some of the cheapest deals posted by retailers on our database which include a link to the retailer’s website for details. These are referral partner products†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your location. This comparison assumes a general energy consumption of 3,900 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchasing decision.

Here are some of the cheapest deals posted by retailers on our database which include a link to the retailer’s website for details. These are referral partner products†. These costs are based on the Citipower network in Melbourne, but prices may vary depending on your location. This comparison assumes a general energy consumption of 4,000 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchasing decision.

Here are some of the cheapest deals posted by retailers on our database which include a link to the retailer’s website for details. These are referral partner products†. These costs are based on the Energex network in Brisbane but prices may vary depending on your location. This comparison assumes a general energy consumption of 4,600 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchase decision.

Here are some of the cheapest deals posted by retailers on our database which include a link to the retailer’s website for details. These are referral partner products†. These costs are based on the SA Power network in Adelaide, but prices may vary depending on your location. This comparison assumes a general energy consumption of 4,000 kWh/year for a residential customer on a single tariff. Please use our comparison tool for a specific comparison in your region. Our database may not cover all offers in your area. As always, check all the details of any plan directly with the retailer before making a purchase decision.

Image credit: Lemberg Vectorstudio/Shutterstock.com

INDO Stock Alert: What’s Happening Today With Little-Known Indonesian Energy?


Last week, crude oil prices hit $100 a barrel. As fears of an energy crisis generated by the Russian-Ukrainian conflict sent prices skyrocketing, experts speculated how high they could rise. Oil stocks began to rise as a result, sending several small-cap companies to new highs. One name that has emerged as the winner of the new oil boom is Indonesia Energy Corp. (NYSEAMERICAN:INDO). INDO stock was not considered a player among the oil plays, but its recent gains should have it on every investor’s radar.

Source: Shutterstock

What’s going on with INDO Stock

This week, oil prices have risen again, reaching $113 per barrel. Oil stocks are just continuing to ride this wave, and for some penny stocks it has been great.

As its name suggests, Indonesia Energy Corp. is an oil and gas producer primarily based in Indonesia. INDO stock started rising last week and has soared over 130% in the past five days. This growth pushed it into the green by almost 500%.

Today, it shows no signs of slowing down. As of this writing, it is up 60% for the day and, despite some early turbulence, appears to be on an upward trajectory.

why is it important

Less than a month ago, INDO was trading at penny-stock levels at under $4 per share. The new oil boom pushed it to a new high of $21. When such a small-cap company is making such impressive progress, it’s always worth taking a closer look.

None of INDO’s peers have managed to match these gains. Imperial Oil (NASDAQ:IMPP) is up more than 60% for the week and 200% for the month, but remains a penny stock at $2.39 per share. Camber energy (NYSEAMERICAN:IEC) also rose last week but has since declined and is currently down more than 16%.

All of this begs the question of what propelled INDO stock to such impressive heights. InvestorPlace contributor Chris MacDonald took a closer look at the company earlier this month when the stock first caught fire. While he noted that INDO could see some short-term play like the 2021 meme stock rally, he also found several other things to attract investors.

As he wrote, commodity prices were already skyrocketing, creating the kind of windfall a company with Indonesia’s speculative energy assets needed to grow. “Drilling operations suggested early success, leading some investors to view this as a potentially undervalued stock relative to its future prospects,” he noted.

These assets include 1.05 million acres of land, located primarily on the islands of Sumatra and Java. For an energy company concerned with exploration and development, this type of framework could lead to great success.

What this means

All of this creates the image of an undervalued oil company operating in an off-grid location. For investors looking for speculative play for the growing oil boom, INDO stock looked perfect, especially since it was trading at $3.87 when the boom started.

Now that Wall Street is paying attention to this former penny stock, it’s unclear how far it will go. It may not be a dime anymore, but it’s still trading at fairly low levels given its growth potential. It’s a name investors should watch closely as oil prices continue to rise.

At the date of publication, Samuel O’Brient held (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

$0.45 per share earnings expected for Talos Energy Inc. (NYSE: TALO) this quarter


Stock analysts predict that Talos Energy Inc. (NYSE: TALO – Get Rating) will report earnings per share (EPS) of $0.45 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have released earnings estimates for Talos Energy. Talos Energy posted earnings of ($0.34) per share in the same quarter last year, suggesting a positive year-over-year growth rate of 232.4%. The company is due to release its next earnings report on Wednesday, May 4.

On average, analysts expect Talos Energy to report annual earnings of $1.95 per share for the current fiscal year. For the next fiscal year, analysts expect the company to post earnings of $2.82 per share. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Talos Energy.

Several stock analysts have recently commented on the company. Zacks Investment Research downgraded Talos Energy from a “buy” rating to a “hold” rating in a Thursday, February 24 research rating. BMO Capital Markets cut shares of Talos Energy from an “outperforming” rating to a “market performing” rating and lowered its target price for the company from $14.00 to $12.50 in a report from the Monday January 10. Benchmark launched a hedge on Talos Energy shares in a report on Wednesday, November 3. They set a “buy” rating and a target price of $23.00 on the stock. Finally, TheStreet upgraded shares of Talos Energy from a “d” rating to a “c” rating in a Friday, February 25 report. Two equity research analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat, Talos Energy currently has an average rating of “Buy” and an average price target of $16.79.

(A d)

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In other news, major shareholder Apollo Management Holdings Gp, sold 6,655,136 shares of the company in a transaction on Monday January 3rd. The shares were sold at an average price of $9.35, for a total value of $62,225,521.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the past ninety days, insiders have sold 6,784,531 shares of the company worth $63,581,038. Insiders own 0.43% of the shares of the company.

Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Point72 Hong Kong Ltd increased its stake in Talos Energy by 159.5% in the third quarter. Point72 Hong Kong Ltd now owns 4,687 shares in the company valued at $65,000 after acquiring an additional 2,881 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Talos Energy by 20.5% in the third quarter. Mutual of America Capital Management LLC now owns 5,459 shares of the company valued at $75,000 after acquiring 929 additional shares in the last quarter. Royal Bank of Canada increased its stake in Talos Energy by 43.4% in the third quarter. Royal Bank of Canada now owns 5,885 shares of the company valued at $82,000 after acquiring an additional 1,780 shares in the last quarter. Meeder Asset Management Inc. increased its position in Talos Energy by 2,305.6% during the third quarter. Meeder Asset Management Inc. now owns 6,038 shares of the company valued at $85,000 after purchasing an additional 5,787 shares during the period. Finally, New York State Teachers Retirement System increased its position in Talos Energy by 39.0% during the fourth quarter. The New York State Teachers’ Retirement System now owns 11,412 shares of the company valued at $112,000 after purchasing an additional 3,200 shares during the period. 93.86% of the shares are currently held by institutional investors and hedge funds.

Talos Energy stock opened Thursday at $17.36. Talos Energy has a 12-month low of $8.57 and a 12-month high of $18.93. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt ratio of 1.45. The company has a 50-day moving average price of $11.47. The stock has a market capitalization of $1.42 billion, a P/E ratio of -1.94 and a beta of 2.99.

Company Profile Talos Energy (Get a rating)

Talos Energy, Inc operates as a holding company. The company is engaged in the exploration and production of oil and natural gas. It focuses on the exploration, acquisition, operation and development of shallow and deep water assets near existing infrastructure in the Gulf of Mexico in the United States. The company was founded by John A.

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The war in Ukraine and US policy complicate the fight against climate change


War and politics are complicating efforts by the two biggest polluters in history – the United States and Europe – to slow global warming, just as scientists warn of intensifying risks.

On Tuesday night, President Biden barely mentioned his climate goals in the State of the Union address despite promises to make climate an issue that drives his presidency. European politicians have their own problem: they are struggling to get out of one of the Kremlin’s most powerful economic weapons – its fossil fuel exports, on which Europe depends for heat and electricity.

Oil and gas prices are skyrocketing globally. It’s a boon for those mining and selling the very products that cause deadly heat waves, wildfires and sea level rise. And it’s driving new demands for increased drilling in the United States, already one of the world’s largest producers of oil and gas.

The developments come just days after a comprehensive United Nations report implored world leaders to sharply cut emissions of carbon dioxide, methane and other dangerously warming greenhouse gases. To fail, they said, is to face a harrowing future where the rate of global warming exceeds humanity’s ability to adapt.

In Washington, Mr Biden’s ambitious climate legislation has been blocked by the unanimous Republican opposition as well as a senator from his own party, Joe Manchin, who represents the coal-producing state of West Virginia and enjoys strong support from the fossil fuel industry. The Supreme Court could further limit Mr. Biden’s ambitions in a case that began this week that could restrict the federal government’s ability to regulate greenhouse gas emissions.

In his State of the Union address – traditionally seen as the best opportunity for a president to rally the nation around an agenda – Mr Biden cited the climate in the context of his proposals to create jobs in repairing roads, airports and other critical infrastructure. “We will do everything to resist the devastating effects of the climate crisis,” he said.

But high gas prices present a risk for Democrats ahead of the midterm elections, and his remarks were also aimed at mitigating that. He said he would release oil reserves – 30 million barrels – to keep prices low for Americans. “We are fine,” he said.

Energy experts said Mr Biden had missed an opportunity to link the war in Ukraine to the need to break economic dependence on fossil fuels more quickly. “The president has failed to articulate the long-term opportunity for the United States to lead the world by breaking free from the geopolitical nightmare of oil dependence,” said Paul Bledsoe, strategic adviser to the Progressive Policy Institute, a Washington-based think tank. .

Vedant Patel, a White House spokesman, said Mr Biden had shown “unwavering support” for climate solutions.

The Russian invasion of Ukraine has brought world leaders to a difficult new crossroads. The European Union is feeling the effects most acutely.

Russia supplies almost 40% of the gas that Europeans use for heating and electricity. By exposing the enormous leverage that Russia has enjoyed with its energy exports, the Ukrainian conflict forces European leaders to make urgent choices: should it build new fossil fuel infrastructure in order to replace Russian fuel? by liquefied natural gas from elsewhere, mainly the United States? Or should it move away from fossil fuels more quickly?

Next week, the world will get its first glimpse of Europe’s inclinations, as officials in Brussels are due to announce a new energy strategy aimed at weaning the continent off Russian gas.

A draft of the report, reviewed by The New York Times, suggests the new strategy will propose accelerating energy efficiency measures and renewable energy installations. He sees imports of liquefied natural gas, or LNG, from the United States and elsewhere as a short-term measure to offset Russian piped gas.

“This war will have profound repercussions one way or another on our own energy system,” European Union energy commissioner Kadri Simson told reporters this week after an emergency meeting with energy ministers from the 27-member bloc.

Analysts said European countries can quickly reduce their dependence on gas through energy efficiency measures and increased investment in renewable energy, which is already in line with Europe’s ambition to stop to pump additional greenhouse gases into the atmosphere by the middle of the century. The conflict in Ukraine could accelerate some of this. It could also lead to what Lisa Fischer, who tracks energy policy at E3G, a research group, has called “a tectonic shift” – using renewable energy, rather than sufficient gas storage, to achieve security. energy.

John Kerry, Mr Biden’s special envoy for climate change, underscored this in an interview this week, saying Mr Putin had “weaponized” fossil fuels, especially gas.

“It’s connected, and people have to see it that way. Energy is an important part of options geopolitics,” Mr. Kerry said. “Energy is a key weapon in this fight, and if there was a lot less reliance on gas, there would be a different set of games.”

The United States, for its part, has increased its LNG exports to Europe to counter the decline in Russian piped gas. By the end of this year, the United States is expected to have the largest LNG export capacity in the world.

The current sanctions nations have imposed on Russia do not directly target its oil and gas sector, but the invasion of Ukraine is expected to disrupt supply routes and has fueled fears that Russia could cut shipments.

In the United States, Republicans have said the Russian invasion of Ukraine underscores the need to aggressively drill for more oil and gas in the United States to provide Europe with an alternative. Sen. Kevin Cramer, Republican of North Dakota, on Tuesday called Mr. Biden’s opening of the strategic reserve a “thimble in the ocean.”

White House officials said Mr Biden referred to climate change and clean energy throughout his speech. He noted that Ford and GM are investing billions of dollars to build electric vehicles, creating millions of manufacturing jobs in the United States. He also noted that the financing of the infrastructure package will make it possible to build a national network of 500,000 charging stations for electric vehicles.

But climate change politics is at a critical juncture in the Biden administration. The president’s central legislative agenda, which he called the Build Back Better Act, is dead. Democrats still hope to pass about $500 billion in clean energy tax incentives that were part of the package, but the opportunities to do so are dwindling. If that investment doesn’t materialize, and the Supreme Court also limits the administration’s ability to regulate emissions, Mr. Biden’s goal of roughly halving U.S. emissions from 2005 levels could be essentially unachievable.

Although climate was not the stated goal of Biden’s speech on Tuesday, administration officials said Russia’s war on Ukraine had not taken climate change out of the picture. of the day. They noted that Mr. Biden has highlighted climate change in virtually every federal agency and moved forward with major clean energy deployments, including a record-breaking offshore wind auction last week that reported over $4 billion.

Mercy earns its 11th Energy Star certification

ROGERS, Ark. (KNWA/KFTA) – Mercy Hospital Northwest in Rogers, Ark. announced on Wednesday that it had earned Energy Star certification from the U.S. Environmental Protection Agency for the 11th time in 13 years.

The recognition singles out the hospital for its reduced energy consumption, which results in lower operating expenses and produces fewer greenhouse gas emissions than the vast majority of other hospitals in the country.

According to a press release, organizations qualify as Energy Star installations by scoring 75 or higher on a 100-point scale based on 12 months of energy consumption data. Mercy Northwest is rated at 87 and ranks in the top 13% of US hospitals for energy efficiency. The EPA estimates that Energy Star installations produce 35% less greenhouse gases and use 35% less energy than their counterparts.

“This latest Energy Star designation for 2021 is a result of Mercy’s core value of stewardship,” said Monty Lindsey, director of facility maintenance and operations at Mercy Hospital Northwest Arkansas. “This recognition reinforces our commitment to energy conservation and reducing our impact on the environment. By using less energy and producing fewer greenhouse gas emissions, we take care of our community and protect its future.

According to the EPA, since its launch in 1992, certification and its partners have helped reduce energy costs by $450 billion while reducing the nation’s greenhouse gas emissions by 4 billion metric tons. The release says it’s the only energy efficiency certification in the United States based on verified energy performance.

Energy efficiency efforts at Mercy NWA include:

  • Turn off lights and equipment when not in use
  • Purchase of energy efficient equipment
  • Using sensors in areas with natural light so overhead lights only turn on when the sun goes down or is blocked by clouds
  • Install motion detectors in places like bathrooms so lights turn off when no movement is detected
  • Conversion of lights to LED bulbs, which require less energy to operate
  • Disconnecting from the power grid and using generators to provide electricity to the hospital during peak hours
  • Make adjustments to the thermostat, such as setting it lower or higher (depending on the season) at night and scheduling on and off times
  • Purchase and operation of energy-smart equipment for optimal energy efficiency

The money we’ve saved on what would have been spent on energy allows Mercy to invest more in the vital resources needed to care for our community. This resource management makes the difference, especially during critical times like what we experienced during the COVID-19 pandemic. As a leader in healthcare, Mercy is committed to caring for our community and protecting the quality of life for future generations.

Eric Pianalto, president of Mercy Hospital NWA

According to the release, Mercy NWA saved approximately $200,000 in electricity bills in 2021 due to the hospital’s Energy Star rating and load shedding efforts.

Russia considering sanctions workarounds in energy, gold and crypto


WASHINGTON (AP) — The harsh penalties imposed on Russia and the resulting collapse of the ruble has the Kremlin scrambling to keep the country’s economy going. For Vladimir Putin, that means finding workarounds to the Western economic blockade even as his forces continue to invade Ukraine.

Former Treasury Department officials and sanctions experts expect Russia to try to soften the impact of financial sanctions by relying on energy sales and relying on the reserves of the countries in gold and Chinese currency. Putin is also expected to transfer funds through smaller banks and elite family accounts not covered by sanctions, trade in cryptocurrencies and build on Russia’s relationship with China.

Right now, “the two biggest avenues Russia has are China and energy,” said John Smith, former director of the Treasury’s financial intelligence and enforcement branch.

The United States and the EU imposed sanctions on Russia’s biggest banks and its elite, froze the country’s Central Bank assets outside the country, and barred its financial institutions from the SWIFT banking messaging system – but have largely allowed its oil and natural gas to continue to flow freely to the rest of the world.

While Russia is likely to move closer to China to make up for the loss of goods and services it would normally get from the West, Smith said, “they are also betting that their huge energy supplies will continue to be in demand, “especially in this cold winter. There’s a lot more profit to be had from their energy if they can get it to market.”

Last month, Russia and China signed a 30-year agreement that will allow Russia to supply gas to China, although the pipelines to transport that gas will not be completed for at least three years. In addition, China announced last week that it would allow imports wheat from all regions of Russia for the first time.

However, Smith said the Chinese and others would “do incredibly tough business” now that Russia has fewer willing buyers, and China will want to avoid being subjected to secondary sanctions or enforcement. sanctions violations.

The Biden administration is working on a “targeted tactical strategy” to ensure that cryptocurrency does not become a mechanism Moscow is able to use to avoid sanctions, according to a senior administration official.

The official, who spoke on condition of anonymity to discuss the yet-to-be-announced decision, did not detail an exact timeline for when the new cryptocurrency milestones would be unveiled, but did said the area is one of many spaces Biden administration officials are looking to bolster as they seek to ensure sanctions against Russia have maximum impact.

The official said past experiences in Iran and Venezuela with circumventing sanctions inform the administration’s efforts. Additional export controls and new sanctions targets are also expected to be unveiled in the coming days and weeks to counter Russian sanctions evasion efforts, the official said.

Officials have previously been on the lookout for the use and creation of shell companies and alternative financial institutions that Moscow might try to employ to circumvent sanctions.

On Monday, the United States further tightened its sanctions to immobilize all assets of the Russian Central Bank in the United States or held by Americans. The Biden administration estimated the move could impact hundreds of billions of dollars in Russian funding.

The latest measures included an exclusion that allows energy-related transactions with the bank. Sanctions also have no impact on Russia’s stockpile of gold, which Putin has been accumulating for several years.

Tyler Kustra, an assistant professor of politics at the University of Nottingham who has studied economic sanctions, said Moscow had already adopted a “Russian fortress economy” – producing many goods domestically even though it was easier to import them – to protect the economy from sanctions.

Much of Russian food is produced locally, but some of it does not match similar products made abroad, while others cannot be replaced, he said.

“My friends in Moscow say, ‘Listen, they’ve never really been able to make cheese,'” Kustra said.

Increased reliance on cryptocurrency would be an inevitable way for Russia to try to support its financial transactions, said David Szakonyi, professor of political science at George Washington University, “but it is unlikely to serve substitute for business transactions over time.

The administration has experience in regulating Russian crypto activities. Earlier this year, the Treasury sanctioned the Russia-based company SUEX and 25 affiliated cryptocurrency firms, blacklisting the exchange from the dollar financial system, for allegedly helping hackers clean up and cash out their loot. It was the first crypto firm to receive this designation.

Ari Redbord, a former senior treasury adviser who leads government affairs at TRM, which among other things develops analysis on financial crimes, said his organization had identified at least 340 companies in Russia that could potentially be used as “on and off-ramps” for cryptocurrency.

Redbord said that due to the scale of the sanctions, the amount of crypto Russia would need to replace the billions in sanctions “would be very difficult to turn into traditional currency.”

Ori Lev, who served as a law enforcement officer at the Treasury’s Office of Foreign Assets Control during the Obama administration, said that overall, “whether it’s using crypto- currency or relying on China, there are mitigating measures they can take, but they cannot recreate the financial system.”

The Biden administration has argued that China will not be able to make up for the loss of US and European businesses and that sanctions cutting off Russia from Western sovereign debt markets will be crippling. At the same time, the White House has sought to make a public case that Beijing coming to the aid of Moscow could damage China’s reputation in Europe and around the world in the long term.

On Monday afternoon, the ruble had cratered and Russians queued for hours at ATMs as inflation fears exploded.

“I don’t know what specific steps they’re going to take to ease the bite of the sanctions, but that’s not going to undo them,” Lev said.


Associated Press writers Aamer Madhani, Alan Suderman in Richmond, Virginia and Kelvin Chan in London contributed to this report.

Coal miner Peabody Energy ventures into renewables with solar, Energy News, ET EnergyWorld

WASHINGTON: Coal giant Peabody Energy announced Tuesday that it will make its first foray into renewable energy through a new joint venture and develop more than 3.3 GW of solar power in five years at their former mining sites. .

Company, which went through bankruptcy proceedings in 2016-17 and is struggling with declining share of coal in US power generation, launches R3 Renewables LLC with Riverstone Credit Partners and Summit Partners Credit Advisors to develop solar power and 1.6 GW of battery storage. capacity.

The joint venture will develop six possible sites located on the mining company’s former coal operations in Indiana and Illinois, both near power grid connection points.

Jim Grech, chairman of Peabody, said the partnership allows the company to create “additional value from our existing assets” and support “our own ESG ambitions and those of our customers.”

Peabody filed for bankruptcy protection in April 2016 after a sharp drop in coal prices prevented it from repaying its roughly $10.1 billion debt. It emerged from bankruptcy in 2017.

In 2020, Peabody and Arch Coal pulled out of a proposed joint venture in Wyoming after the U.S. Federal Trade Commission filed a lawsuit to block it.

Riverstone chief executive Daniel Flannery said R3, which will be led by renewable energy veteran John Jones, will “recover, reinvent and re-power the region” with future renewable energy projects.

Energy Transfer assets are part of the KKR-Pembina combination of Canadian natural gas players


KKR & Co. and Pembina Pipeline Corp. agreed to combine their natural gas processing assets in Western Canada to create a new joint venture.

The entity will also acquire certain interests held by Dallas-based Energy Transfer LP. The total transaction value is $9 billion, the companies said in a statement Tuesday. This sum excludes the value of any assets under construction.

Energy Transfer announced that it was selling its 51% stake in Energy Transfer Canada to a joint venture in a transaction valued at $1.3 billion, including debt and preferred stock. Energy Transfer expects a net fee of $270 million when the deal closes later this year.

The combined company, called “Newco” for now, will have a foothold in northeastern British Columbia, a basin with significant gas reserves. Although there is no operational export terminal for liquefied natural gas in the province, several projects have been proposed to supply a growing global market for the fuel.

The public-private combination brings efficiencies and cost reductions, the companies said.

“We share Pembina’s perspective on the positive and essential role that Canadian natural gas plays in the global energy transition and we are pleased to combine these assets to create a stronger platform to seize this opportunity,” said Brandon Freiman. , Head of North American Infrastructure at KKR.

Pembina last week named Scott Burrows as general manager.

Calgary-based Energy Transfer Canada is one of Alberta’s largest licensed natural gas processors, with six plants and 848 miles of pipeline.

The pandemic is not enough to motivate new energy thinking


Our power generation systems are vulnerable to shocks. Energy demand changed dramatically at the start of the Covid-19 pandemic as global oil prices fell. The Texas Superstorm shut down much of the state’s power grid in 2021.

Clockwise from top left: Tanya Heikkila, Christopher Weible, Amy Pickle and Alex Ose-Kojo

These shocks, at least in theory, present opportunities to restructure current energy production systems, invest in energy transitions to mitigate climate change, and build the resilience capacity of the energy system.

Arguably, the Covid-19 pandemic may have prompted learning about how we govern and structure our power generation systems across different sectors and how we might build resilience in the future. Instead, we find more stubbornness than openness to change.

During the first year of the pandemic, we examined how the various stakeholders involved in energy production and governance – particularly in the oil and gas, wind and solar sectors – have thought about and responded to the global pandemic, both within their organizations and in each of these three sectors.

READ: Colorado Sun Opinion Columnists.

We interviewed energy producers, nonprofits involved in energy advocacy, and regulators in Colorado, and reached out to similar stakeholders in New Mexico and Texas for comparison .

Despite some subtle differences across sectors and states, few stakeholders saw the crisis as an opportunity for fundamental change. Instead, most have downplayed the impacts of the pandemic on energy production.

For example, proponents of renewables viewed the continued expansion of renewables as a sign that the energy transition was working, without the need for further changes. Those working in the oil and gas sector felt they could weather the pandemic successfully, especially given their experience as a boom-and-bust industry.

Although crises sometimes spur innovation and change in society, the pandemic does not appear to have changed the ways of thinking, governing and operating in the energy sectors we studied.

Instead, key learnings were associated with real-time adaptation at the operational level to allow employees to work safely, such as moving meetings online or establishing new health protocols in the field. As one of our interviewees mentioned, “business has just moved forward, we haven’t stopped in any way, and in a way I think we’ve seen efficiencies, if anything. “

Similarly, an industry commenter noted, “It’s just about getting through this coronavirus, which is the problem, and keeping as many people as possible employed during this time.

Entrenchment in the status quo in response to shocks is perhaps no surprise. Standard operating procedures, policies and planning were already built into the system. And no doubt, figuring out how to maintain this system is a form of resilience.

However, while we want our power generation sector to weather shocks and crises, resilience also blocks innovative thinking in times that require more accelerated transitions in our power generation systems. If a shock of this magnitude doesn’t catalyze new approaches or accelerate the ongoing energy transition, then what will?

Fundamentally, we need to institutionalize the urgency and capacity for rapid energy transitions in energy governance and production systems. Unfortunately, no one-size-fits-all approach will move us in this direction, but some proven options do exist.

This includes increasing the flow of information, especially from marginalized and rare voices. A few people we interviewed highlighted the need for more holistic energy planning and policy to better link generation planning with power grid planning; encouraging research and development for cleaner energy production; ensuring adequate government resources in times of budget constraints to enforce regulations; building better partnerships with communities where energy development is taking place; and pay more attention to energy inequalities and environmental justice.

Of course, listening to these voices is never enough. We need to rethink our institutions and organizations to allow these voices to join public discourse and debate. This can foster more intentional and diverse forms of crisis learning and help question the relevance of current policies and standard operating procedures in light of a rapidly changing future.

According to one of our interviewees: “If we don’t get everyone talking on the same page and using an experience like Covid as a case study to see why it’s so important , then we’ll just have these little pockets of thinking that don’t all line up to spur action.

We know that shocks don’t always lead to innovation. In fact, they often cause us to resist change or reinforce the status quo. Our research on state-level power generation systems during the Covid-19 pandemic has reinforced this lesson.

However, we cannot wait for the next shock to test this hypothesis again. As one energy actor who participated in our study put it: “I think if anything this pandemic has taught is right – you better put things in order, you better plan ahead. advance, and you better be ready for anything and, and it’s all about elasticity.”

Tanya Heikkila and Christopher Weible, of Denver, are professors in the School of Public Affairs at the University of Colorado at Denver. Alex Ose-Kojo, from Knoxville, Tennessee, is a former doctoral student at CU Denver and now an assistant professor at the University of Tennessee. Amy Pickle, of Durham, North Carolina, is director of state policy programs at the Nicholas Institute for Environmental Policy Solutions at Duke University.

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Summit County Homeowners Are Making a Difference with the Solarize Summit Program

Workers install solar panels on a roof in Summit County.
High Country Conservation Center / Courtesy Photo

Since its inception in 2019, Solarize Summit has helped bring solar power to over 160 homes in Summit County.

The program, which began as part of the county’s climate action plan, incentivizes businesses and homeowners to switch to solar power by signing up for rebates with energy providers and local governments. Over the past four years, owners have received a total of $226,000 in rebates, according to a press release from the High Country Conservation Center.

This year, home and business owners can receive up to $1,800, with $300 coming from Active Energy Solars, an Eagle County-based solar installer. The remaining $1,500 comes from the governments of Breckenridge, Frisco or Summit County. Homeowners can start enrolling in the program, which requires contracts to be signed by May 31 to be eligible for discounts.

The program has become a crucial part of bringing solar power to the top, said Jess Hoover, director of climate action at the conservation center. In total, the 160 residents who took advantage of the program produced more than 1 megawatt of solar power, more than the two solar farms in Breckenridge can produce together.

The community doesn’t have a lot of space for solar farms, which allow people to be part of a solar grid without installing panels on their homes, so it’s up to homeowners to contribute to the future of the solar power in Summit County, Hoover said.

“The more people who put solar on their roofs, the more we don’t have to worry about finding space for a community solar garden,” she said.

Each year, the conservation center hosts the program with the Summit Climate Action Collaborative from March to May. The goal is to eventually reduce Summit County’s carbon footprint. Electricity plays a major role in this footprint, contributing about 23% of the county’s total greenhouse gas emissions.

“For people who have the means, the roof space and a good angle to switch to solar power, we wanted to create a program that would make it easier for them,” Hoover said.

This year, the governments of Breckenridge, Frisco and Summit County purchased a total of 55 sheds for the program. Of those 55, 20 belong to the city of Breckenridge, 25 belong to the Summit County government and 10 belong to the city of Frisco, Hoover said.

In a press release, Jessie Burley, Breckenridge’s sustainability coordinator, said the town was thrilled to be part of the program again this year.

“Seeing physical systems continue to be installed helps create a community snowball effect,” she said.

Solar power has many benefits in addition to contributing to climate change, Hoover said. One of the main advantages is financial savings. Some homeowners have successfully reduced their electric bills to $0, Hoover said.

Solar energy also helps the whole community by contributing to the Xcel Energy network. When Xcel goes to build more renewable energy, it doesn’t need to take up more space and resources because homeowners are already generating that energy on their own, Hoover said.

Although the program provides a financial break for homeowners, installing solar is still an expensive endeavor that is out of reach for many homeowners. According to the conservation center, it can cost between $9,000 and $50,000 before rebates for people to install solar panels on their homes.

Many homeowners can’t afford it, and many people don’t live in homes they own. Hoover said the conservation center is working on strategies to improve solar energy equity.

“We are exploring how to make solar energy more accessible to everyone in the community,” she said.

People can register for the Solarize Summit program by visiting HighCountryConservation.org.

Energy Services Agreement celebrates its first year of operation



Offshore Energies UK, a trade body for the integration of the UK’s offshore energy industry, celebrated the first anniversary of the groundbreaking Energy Services Agreement (ESA).

The ESA is a collective agreement in which signatory companies commit to creating a safe, productive and engaged workforce in their fields of activity. Employer and union signatories take the lead in setting the standard for employee relations across the offshore energy industry.

After a successful first year of operation, ESA has:

  • Bring a new and alternative approach to employee relations.
  • Increased the voice of the offshore workforce by expanding its coverage from 7 to 14 employers and 3 unions.
  • Reduced complexity and increased transparency between all stakeholders, by focusing payment on the time worked.
  • Transformed the annual negotiation process, which saw a 97% reduction in hours spent conducting the annual review, by introducing a standardized process.

Progress in its first year will allow ESA signatories to dedicate 2022 to expanding the agreement. By attracting more employers to the list of signatories and, in turn, further strengthening employee engagement, ensuring that the workforce has a voice as the energy industry offshore is evolving.

“The commitment of all ESA signatories to work together has made it possible to deal with the issues quickly, without the need to escalate them further,” said Irene Bruce, Head of OEUK ESA. “I am proud to lead the further development of ESA and look forward to talking to other companies who want to work with us to take the lead and challenge the future together.”

ESA’s first anniversary should serve as proof that where the will to embrace collaborative working exists, it will produce significant returns, said a comment on behalf of the three signatory union representatives. Labor engagement continues to be a cornerstone of the agreement and increasing the network of labor representatives will further enhance this, according to the commentary.
“The establishment of the Energy Services Agreement was a pivotal moment in the evolution of the UK’s North Sea, ensuring that those who keep critical energy flowing safely and reliably are positively engaged. and supported by the companies they work for,” said Craig Shanaghey, president of operations. across Europe, the Middle East and Africa at ESA signatory Wood. “Watching ESA celebrate its first anniversary and progress through its inaugural round of salary reviews has proven the value of this agreement – ​​ensuring the transparent, fair and timely application of salary increases, creating more space and time for the collaborative conversations and opportunities that will ensure our people are at the heart of the transition to a net zero future.

Infrastructure India shares rise on $7.3m sale of Indian energy assets


By Joe Hoppe

Shares of Infrastructure India PLC rose on Monday after it said it conditionally sold the assets of Indian Energy (Mauritius) Ltd. for 550 million Indian rupees ($7.3 million) to AVSR Constructions.

Shares at 0854 GMT were up 0.2 pence, or 35%, at 0.78 pence.

The UK-listed, India-focused infrastructure investor said Indian Energy, a wholly-owned subsidiary, owns and operates wind farms at two sites in the states of Karnataka and Tamil Nadu, with 41 .3 megawatts of installed capacity.

The two sites, the only assets held by Indian Energy, will be sold to AVSR subject to obtaining State Bank of India’s approval and customary documentation, Infrastructure India said. Indian Energy was valued at 10.1 million pounds ($13.6 million) as of September 30.

The shutdown dates for Theni and Gadag special purpose vehicles holding Indian Energy’s wind assets are March 15 and May 15 respectively.

Infrastructure India said the net proceeds will be used for the group’s working capital – provided its lenders waive an obligation to repay some of its debt – and provide it with a positive cash trail until September.

The company said it was still in discussions over the partial or full sale of Distribution Logistics Infrastructure Ltd.

Write to Joe Hoppe at [email protected]

Nuclear, coal, LNG: “without taboos” in the German energy volte-face


A woman cleans the inside of an exhibit depicting a gas pipeline at Nord Stream’s stand during final preparations for the ‘Hannover Messe’ industry fair in Hanover April 15, 2007. REUTERS/Christian Charisius/File Photo

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  • Germany to build two LNG terminals – Scholz
  • Can let coal and nuclear plants run longer – Habeck
  • Germany depends on Russia for half of its energy

BERLIN, Feb 27 (Reuters) – Germany signaled a U-turn in its key energy policies on Sunday, raising the possibility of extending the life of coal-fired and even nuclear power plants to reduce dependence on Russian gas, as part of of a major political overhaul following Moscow’s invasion of Ukraine.

Europe’s biggest economy has come under pressure from other Western nations to become less dependent on Russian gas, but its plans to phase out coal-fired power plants by 2030 and close its nuclear plants by the end 2022 leaves him with few options.

In a landmark speech on Sunday, Chancellor Olaf Scholz set out a more radical path to ensure Germany will be able to meet rising energy supplies and diversify away from Russian gas, which accounts for half of Germany’s energy needs.

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“The events of the past few days have shown us that a responsible and forward-looking energy policy is decisive not only for our economy and the environment. It is also decisive for our security,” Scholz told lawmakers during the meeting. a special session of the Bundestag called to deal with the Ukrainian crisis.

“We need to change course to overcome our dependence on imports from individual energy suppliers,” he said.

This will include building two liquefied natural gas (LNG) terminals, one in Brunsbuettel and the other in Wilhelmshaven, and increasing its natural gas reserves.

The plans are likely to be a boon for Germany’s main utility RWE (RWEG.DE), which is supporting the efforts of German LNG Terminal, a joint venture of Gasunie (GSUNI.UL), Oiltanking GmbH and Vopak LNG Holding (VOPA.AS), to build an LNG terminal in Brunsbuettel.

Separately, the German government has asked RWE’s smaller rival Uniper (UN01.DE) to restart plans to build an LNG terminal in Wilhelmshaven, the Handelsblatt newspaper reported on Sunday, after the company abandoned those plans. projects end of 2020. read more

Uniper was not immediately available for comment and the economy ministry declined to comment.

Earlier this week, Germany halted the $11 billion Baltic Sea pipeline project Nord Stream 2, Europe’s most controversial energy project after Russia officially recognized two breakaway regions in the east from Ukraine. Read more

Russia has since invaded Ukraine, prompting the West to impose new sanctions on Moscow and making the issue of energy supplies even more pressing. Read more

The overhaul of energy priorities is accompanied by a paradigm shift in German foreign and defense policy, with Scholz also announcing a dramatic increase in military spending. Read more


Germany embarked on an ambitious transition to solar and wind power last year and Greens member Oliver Krischer said on Sunday that a bill to ensure renewables will make up 100% of Germany’s electricity supply by 2035 was already finished.

Germany will also increase the volume of natural gas in its storage facilities by 2 billion cubic meters (bcm) via long-term options and purchase additional natural gas on global markets in coordination with the European Union, said Scholz.

Germany has 24 billion m3 of underground gas storage caverns, which are currently around 30% full, according to data from industry group Gas Infrastructure Europe.

Germany is also considering whether to extend the life of its remaining nuclear power plants to secure the country’s energy supply, said the country’s economy minister, Robert Habeck, a member of the Greens.

Asked by German broadcaster ARD if he could imagine allowing nuclear plants to operate longer than planned under Germany’s exit plan, which calls for the country’s three remaining plants to be closed by the end of 2022 , he said: “It is part of the tasks of my ministry to answer this question… I would not reject it for ideological reasons.”

Isar 2, Emsland and Neckarwestheim 2 are the last nuclear power plants producing electricity in Germany after the country decided a decade ago to phase out the fuel following the Fukushima disaster in Japan.

The three plants are owned respectively by German energy companies E.ON (EONGn.DE), RWE and EnBW (EBKG.DE).

Habeck also said letting coal-fired power plants run longer than planned was an option, casting doubt on Germany’s ambitious coal exit, scheduled for 2030.

“There are no taboos on deliberations,” Habeck said, adding that Germany’s goal was to ultimately choose which country would supply its energy.

“Being able to choose also means, in case of doubt, saying goodbye to Russian gas, coal or oil. And if Russia voluntarily cuts off this supply, then of course the decision is made,” Habeck said.

“In that case, they will never be rebuilt. I think the Kremlin knows that too.”

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Reporting by Christoph Steitz, Riham Alkousaa and Maria Sheahan; Editing by Sarah Marsh, Jan Harvey, Raissa Kasolowsky and Alison Williams

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Russia faces major disruptions to oil and commodity flows without SWIFT


Ukrainian soldiers march at the central train station in Kiev, Ukraine, February 25, 2022. REUTERS/Umit Bektas

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  • West Blocks Some Russian Banks’ Access to SWIFT
  • Traders and analysts see huge export problems
  • Putin continues his military assault on Ukraine
  • Western inflation is already climbing on high energy prices

LONDON, Feb 27 (Reuters) – Russian exports of everything from oil and metals to grain will be severely disrupted by new Western sanctions, dealing a blow to the Russian economy and hurting the West with a spike in prices and inflation, traders and analysts said. .

The United States and its allies decided on Saturday to block certain Russian banks’ access to the international payment system SWIFT in order to further punish Moscow as it continues its military assault on Ukraine. Read more

While some Russian banks – including Gazprombank, which handles large oil and gas payments – have escaped full blocking sanctions, traders and analysts have said the time it takes to switch to new systems will still mean major upheaval for flows.

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The measures, which will include restrictions on the Russian central bank’s international reserves, will be implemented in the coming days, with officials saying some exemptions for energy were being worked out.

“While trying to exempt energy transactions, SWIFT can still significantly disrupt energy trade flows in the short term, at least until buyers switch to alternatives such as Telex or other systems,” said said Amrita Sen, co-founder of Energy Aspects think- Char.

“On other products – I don’t see how trade will continue without the exemptions,” she said.

SWIFT, or Society for Worldwide Interbank Financial Telecommunication, is a secure messaging system that facilitates fast cross-border payments, moving trillions of dollars a year in what has become the primary mechanism for financing international trade.

Russia produces 10% of the world’s oil and supplies 40% of European gas. It is the first world exporter of cereals and fertilizers, the first producer of palladium and nickel, the third exporter of coal and steel and the fifth exporter of wood.

The attempt to exclude swaths of the world’s 11th largest economy – and supplier of one-sixth of all commodities – from the trading system is unprecedented in the age of globalization.

It comes as the West grapples with record high energy prices amid runaway inflation. Read more


At least 10 oil and commodities traders, who spoke to Reuters on condition of anonymity, said Russian commodity flows to the West would be severely disrupted or completely halted for days or even weeks until ‘until some clarity is established on the exemptions.

“You can still use the internal systems of international banks with branches in Russia, but it will be quite a mess,” said a banker at a major Western bank with exposure to Russia, asking not to be named because of the sensitivity of the issue.

Some traders said that while Russian banks that were still not on the sanctions list, such as Surgutneftegasbank, could probably clear dollars, that didn’t necessarily solve the problem.

“A lot of companies will treat Russian oil as sanctioned and won’t touch it even if it’s allowed,” said a senior executive at a major Western oil trading office, also asking not to be named due to the sensitivity of the issue.

“So it looks like peak pain for the next two to three days while people work out which pathways are open,” he added.

Russian flows of energy and raw materials to Asia, particularly to China, are likely to continue.

China and Russia have developed alternatives to SWIFT. Beijing has encouraged the use of its local alternative, known as the CIPS Clearing and Settlement Services System, while Moscow has implemented its own banking messaging system, known as SPFS.

Russian officials have said the country can reroute exports to China in case flows to the West are disrupted. But analysts have said the gas cannot be rerouted at all, while Beijing’s ability to take in more oil is limited.

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Reporting by Dmitry Zhdannikov; Editing by Jan Harvey

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Energize Delaware awards $650,000 to Sussex Habitat


The Empowerment Grants Program, developed and administered by Energize Delaware, has now awarded $4 million in energy efficiency grants for underserved communities in all three counties.

One of the largest grants, in the amount of $650,000, supports an insulated baseboard program for manufactured homes run by Sussex County Habitat for Humanity. These Empowerment Grant funds were made possible by the merger between Exelon Power and Delmarva Power in Delaware, and authorized by the Delaware Public Service Commission. To learn more about the Empower Grant program with Delmarva Power and what was funded, go to empowergrantde.org.

“We have learned a lot over the past two years about the uncertainty and fragility of our community during times of crisis,” said Empowerment Grant Manager Jim Purcell. “The empowerment grant has given relief and hope to many people looking to save on energy costs, while reducing the carbon footprint in our communities.”

To pilot an insulated baseboard program for manufactured homes in Sussex County in 2020, a $100,000 empowerment grant was awarded to Sussex County Habitat For Humanity. The program has been so successful that an empowerment grant in 2021 renewed the investment with additional funding of $650,000 over the next two years. These additional funds provide the opportunity to expand the program to also include Kent County residents. The two Habitat chapters will identify 80 homes for this critical energy efficiency upgrade.

“This is the largest single grant in our history, and we are delighted to be able to help so many households improve their living conditions and reduce their utility costs,” said Kevin Gilmore, CEO of Sussex Habitat. .

In addition to helping reduce energy costs by 25%, insulated baseboards can prevent costly damage involving water pipes and rotting floors, and protect the frame of these manufactured homes from other hazards.

Those interested in applying for the Insulated Baseboard Program can contact Sussex County Habitat for Humanity at 302-855-1153.

The 2023 expansion to include Kent County will be implemented in partnership with Central Delaware Habitat for Humanity. Only Delmarva Power customers are eligible for this program.

Allied Energy, Inc (OTC: AGGI) Wins Majority Stake in WeLife Technology Corp


LOS ANGELES, CA, Feb. 26, 2022 – (ACN Newswire) – Allied Energy, Inc (OTC: AGGI) has obtained control of a majority stake in WeLife Technology Corp through a tender for shares in the company, including the acceptance period ended on February 25, 2022.

WeLife Technology Corp is a biotechnology company with at least five products generating millions in sales worldwide. Its chief scientist is Dr. Michael Borkin, who has earned an international reputation for his extensive research and clinical experience in the areas of life extension and anti-aging.

Dr. Borkin’s focus on endocrine and neurotransmitter regulation has led to the development of unique non-invasive diagnostic and treatment protocols that dramatically increase patient acceptance and treatment success rates.

With over 70 supplements formulated by Dr. Borkin marketed worldwide and enjoying an unrivaled reputation, Dr. Borkin sets a benchmark in the nutraceutical industry and continues to innovate new technologies and produce advanced protocols for slow down and reverse the aging process.

Dr Michael Borkin
Co-founder, Saber Sciences and Endoscreen Laboratories
Chief Scientist, WeLife Technology Corporation

Considered the “father of naturopathic endocrinology”, Dr. Borkin was responsible for establishing the board specialty and authored the first national endocrinology board for the American Naturopathic Medical Certification & Accreditation Board in Washington, D.C. .

In 1986, he began development of a transdermal delivery system designed to deliver hormones and nutraceuticals through the skin. In 1998, he co-founded Saber Sciences and Endoscreen Laboratories to prove the efficacy of this new delivery system.

He was named president of the California State Naturopathic Medical Association in 1993 and served until 1997. In 2002, Dr. Borkin was inducted into the Alternative Medicine Hall of Fame, making him the youngest inductee. never so honoured.

Dr. Borkin’s patients have included heads of state, religious leaders, celebrities and sports icons. Now dedicated full-time to research and teaching, he has over 36 years of clinical experience, which he shares with medical researchers around the world. It currently has teaching facilities in San Diego, CA; Coronado, Panama; Saint Petersburg, Russia and Nice, France.

About WeLife Technology Corp
WeLife Technology Corp., established in 2018, is a biotechnology and human health product development and commercialization company. For more information, visit https://welifeus.com/home/index.

About Allied Energy, Inc.
Allied Energy, Inc. (OTCMKTS: AGGI) operates as an independent oil and natural gas exploration and development company operating in the continental United States. Please visit https://www.alliedag.com.

Source: WeLife Tech Corp.

Copyright 2022 ACN Newswire. All rights reserved.

College Considers First Phase of Sustainable Infrastructure Project – The Oberlin Review


The first phase of the Sustainable Infrastructure Program wrapped up last semester, encouraging project members to reflect on the precedent it has set for sustainability on college campuses. With the goal of achieving carbon neutrality by 2025, the project will continue through the summer months for the next three years. In addition, as the project continues, various internship opportunities for students will be offered through the Office of Environmental Sustainability.

The SIP is a large-scale program to implement a geothermal energy system that will require the removal and replanting of over 100 trees on campus. The first phase of the project replaced the College’s deteriorated steam pipe system and refurbished it with a more efficient heating system. In the future, the geothermal heating and cooling system will make buildings more than 30% more efficient thanks to fiber networks, cooling systems, and improved electrical and mechanical systems. A clean energy system is guaranteed for future Oberlin students and will set an example for campuses across the country.

“For the energy system work, we will continue to engage students and faculty for this great learning opportunity,” facility manager Kevin Brown wrote in an email to the review. “We will also be extending this to the community with upcoming community engagement sessions and campus tours. We are also extending our knowledge sharing to other institutions that would like to learn from Oberlin’s experience.

Middle school fourth-year Milo Hume had the opportunity to meet SIP construction workers when he filmed an informational documentary about SIP during the summer semester.

“I really enjoyed being able to work and connect with the construction workers who were laying the pipes,” Hume said. “Getting to know them has been a privilege as they often remain anonymous.”

The next phase of the SIP, which will take place during the summer of 2022, will focus on the construction of geothermal wells under North Fields.

Cambridge Associates will occupy 115,000 square feet at the Winthrop Center: NEREJ


Boston, MA According to MP Boston, the local arm of internationally renowned developer Millennium Partners, leading global investment firm Cambridge Associates will move its global headquarters to the Winthrop Center in the spring of 2023. Cambridge Associates employees will occupy 115,000 square feet of the 691 square feet , mixed-use tower, where the office portion will contribute significantly to the city’s ambitious long-term carbon reduction goals by being built to rigorous passive house design standards. The property was designed by Handel Architects.

Winthrop Center will provide 812,000 square feet of Class A office space and 510,000 square feet of residential space, including 321 luxury residences in the center of town.

Winthrop Center is on track to become the largest office building in the world to achieve Passive House certification. As a result, Winthrop Center will use 150% less energy than the average office building in the city and 60% less energy than existing LEED Platinum buildings. Incorporating a well-insulated building facade, an airtight exterior envelope and an advanced energy recovery ventilation system, the Passive House office building eliminates heating and cooling inefficiencies and represents a major step forward in the fighting climate change through the built environment.

The office space models the most energy-efficient solution for large-scale buildings and is well positioned to exceed the requirements of the city’s recently adopted building performance standard, BERDO 2.0. The Winthrop Center office space also provides a healthier and more comfortable environment for occupants, increasing productivity and employees’ sense of well-being by providing 30-50% more fresh air than office buildings. existing.

The development takes Passive House to new heights, artfully assembling complex and diverse functions into a legacy building. Winthrop Center was conceptualized in 2017 by MP Boston as an inspirational work environment that would set a new global standard for building performance and energy conservation. The MP Boston team sought out experts at the Passive House Institute in Darmstadt, Germany, where their proposal was met with skepticism – it was the first time a developer had sought to apply the Passive House approach to a building in this size, scale and type .

With perseverance, determination and many trips back and forth to Darmstadt, MP Boston persuaded the Passive House Institute that its ambitious goal could be achieved.

“Since the founding of the Winthrop Center, it has been important for us to find partners, like Cambridge Associates, who support our goal of providing a healthy, energy-efficient building that provides a solution to climate change,” said Christopher Jeffries, Founder of Millennium Partners. “The City of Boston is planting the seeds for climate change mitigation in the United States, and the Winthrop Center is leading the way. We hope this project will raise awareness of the world’s most pressing issues and inspire the development community as a whole to reinvent the way buildings are designed and constructed.

For nearly 20 years, Cambridge Associates has used a wide range of sustainable and impactful investment strategies to profitably finance long-term, market-driven solutions to environmental and social challenges. In partnership with industry peers, the company recently launched the Net Zero Investment Consultants initiative, which is committed to integrating emission reduction advice into investment strategies and setting emission reduction targets in all of its own operations. Cambridge Associates has set itself the goal of helping its customers achieve a 50% reduction in emissions by 2030. The company also received carbon neutral accreditation and certification to PAS 2060 specifications earlier this year. year. Winthrop Center reflects the company’s values ​​and mission through its Passive House design, which as a building standard sets the stage for a low-carbon future.

“One of the most important considerations for us when choosing the Winthrop Center was the property’s bold commitment to sustainability,” said David Druley, CEO of Cambridge Associates. “While our work in the area of ​​sustainable and impact investing is appreciated by a large proportion of our clients, it is essential that our commitment to sustainable development is manifested beyond investment portfolios and also in the walls of our business.We will be able to meet our own significant commitments to sustainability and lower carbon emissions through the Winthrop Center’s approach to responsible, resourceful and renewable office space.

Through a partnership with MIT professors led by John Fernandez, director of MIT’s Environmental Solutions Initiative, the project will meet the growing demands of employers and employees for healthy, energy-efficient buildings that provide better quality of life. air, flexibility and comfort, and spaces that foster collaboration and creativity. Not only does Winthrop Center create healthy indoor air quality and a constant supply of fresh air through passive house design, it also improves social health with a distinctive and inclusive ground floor space called ” The Connector”, where office workers, residents, and the general public can interact and enjoy cultural programming. Offering greater access to natural light and the outdoors, as well as amenities designed to help office workers decompress and avoid digital overload, Winthrop Center delivers psychological and physiological benefits to the workforce. ‘today. In addition to the air quality it improves, the energy consumption it reduces, and the social and environmental improvements it brings, the building will create a striking new visual pinnacle in the heart of Boston and on the skyline of the city.

Teck to Present at BMO Capital Markets Global Metals & Mining Conference February 28, 2022


Vancouver, BC – President and CEO of Teck Resources Limited (TSX: TECK.A and TECK.B, NYSE: TECK) (“Teck”), Don Lindsay, will present at the 31st Annual Metals and Mining Conference BMO Capital Markets on Monday, February 28, 2022 at 2:00 p.m. Eastern/11:00 a.m. Pacific Time. The investor presentation will include information on the company’s strategy, financial performance and outlook for the company’s business units.

The presentation will be webcast via the following link at: https://bmo.qumucloud.com/view/2022-gmm-teck.

Alternatively, the webcast with supporting slides will be available on Teck’s website at: www.teck.com.

About Teak
As one of Canada’s leading mining companies, Teck is committed to responsible mining and mining development with significant business units focused on copper, zinc and steelmaking coal, as well as investments in assets energy. High-quality copper, zinc and steelmaking coal are needed for the transition to a low-carbon world. Based in Vancouver, Canada, Teck’s shares trade on the Toronto Stock Exchange under the symbols TECK.A and TECK.B and on the New York Stock Exchange under the symbol TECK. Learn more about Teck at www.teck.com or follow @TeckResources.

Investor contacts:
Ellen Lai
Coordinator, Investor Relations
[email protected]

Media Contact:
chris stannel
Public Relations Manager
[email protected]


Centrica profit doubles as British Gas takes 700,000 customers


Electricity pylons are seen in London, Britain August 1, 2017. REUTERS/Neil Hall

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  • Adjusted operating profit 2021 stg 948 million vs 447 million in 2020
  • British Gas had around 3.4 million customers at the end of 2021
  • CEO says it’s too early to assess impact of crisis in Ukraine

LONDON, Feb 24 (Reuters) – Britain’s biggest energy supplier Centrica (CNA.L) announced a doubling of its adjusted profit for 2021 and said its British Gas brand took around 700,000 customers after the collapse rivals hit by soaring energy costs amid price caps.

This ceiling is raised by a record 54% from April, relieving suppliers but overwhelming households.

Centrica, whose British Gas brand had around 3.4 million customers at the end of 2021, said it was too early to tell what impact the Russian invasion of Ukraine would have on long-term energy prices in Britain.

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Fast wholesale UK gas prices jumped around 30% on Thursday morning on news of the invasion.

“I don’t think it’s worth speculating about an ongoing situation,” group chief executive Chris O’Shea told reporters during a briefing.

After losing customers to a slew of new suppliers and then suffering a sharp drop in demand at the onset of the COVID pandemic, Centrica streamlined its business to focus on energy services and the sale of energy assets. energy production.

However, the competitive landscape is changing after record high wholesale energy prices forced around 30 UK energy suppliers out of the market in the last 12 months. Read more

Centrica, which suspended dividends in 2020, said it would not offer a full-year payout for 2021 but was now on track to start paying a dividend.

The company said its outlook for 2022 was broadly positive and its strong balance sheet meant it was well placed to weather continued volatility in wholesale commodity prices.

O’Shea said Centrica had repaid £27million to the government for furlough payments received during the pandemic and had not taken bonuses for the year worth more than £1million.

Adjusted operating profit for 2021 rose to 948 million pounds ($1.28 billion), from 447 million pounds the previous year, helped by divestitures and high energy prices.

Centrica sold its North America-based Direct Energy division in early 2021 for $3.6 billion to U.S. integrated power company ERG Energy.

Analysts said the results were positive, but the company’s shares were down about 4% as stock markets around the world were hammered by Russia’s invasion of Ukraine.

($1 = 0.7413 pounds)

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Reporting by Susanna Twidale Editing by David Goodman and Mark Potter

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Batavia City Committee Makes Further Changes to Solar Law |


BATAVIA – The city’s solar committee is making changes to a proposal to update Batavia’s solar energy regulations. Once the committee has reviewed and accepted the changes, the proposal will be submitted to the county planning board for consideration.

There is a link to the solar bill on the city’s website under “Active Projects”. The project includes a section describing four levels of solar energy systems:

• Tier 1 systems, which include roof-mounted and building-integrated systems.

• Level 2, which includes ground-mounted systems (which are accessory uses/structures) with a total area of ​​all solar panels on the ground of up to 4,000 square feet and generating up to 110% of the electricity consumed on the site during the last 12 months.

• Level 3, systems that are not included in the list of levels 1 and 2 and whose area does not exceed 30 acres. These can be primary or accessory uses/structures.

• Level 4, systems that are not included in the other three levels.

Building Inspector Dan Lang said the required setback for a project would be 200 feet from the property’s lot line. This requirement would apply to Tier 3 and Tier 4 projects, he said.

When it met Tuesday night to discuss the proposal and make changes, the committee agreed to change the side lot line setback from 50 feet to 75 feet.

Lang said all of the changes will be in a draft that he hopes to distribute this week once he makes the changes.

“He will go to the county for the meeting in March,” he said.

Two of the definitions in the bill relate to “participating” and “non-participating” properties. Lang said a participating property is a host property or any real estate property for which there is an agreement between the owner and a solar energy system owner (or affiliate). The status of the agreement would impact certain city code requirements on setbacks).

Current municipal law provides for an 8 foot side property line setback.

“We were back and fourth between 50 and 100 (feet), we finally decided on 75 as a compromise,” committee chairman Chad Zambito said Wednesday.

Zambito said another proposed requirement is that a solar power project be at least 200 feet from anyone’s home. “I believe at one point we had it at 500 feet,” he said.

“Most of the changes were minor tweaks and minor edits suggested by our city attorney,” Zambito said. “We want to email everyone (on the committee) and make sure we’re on the same page, and nothing’s been missed, and then it’ll go to the county.”

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Rosen: To build a pool of workers for the economy of the future, high school students need CTE training on green jobs. Federal funding can help


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The movement to green the US economy is gaining momentum. At the federal level, as well as in places like Illinois, Maine and New York City, lawmakers have passed legislation aimed at reducing carbon emissions while creating green jobs in various industries such as transportation, construction, environmental management and agriculture. These have all shown growth in recent years and should continue to do so.

This green revolution will require an army of well-trained workers — yet federal investments in skills training have focused primarily on adults. To build a healthy pool of skilled labor, policy makers should apply lessons learned from a strong body of evidence on successful career and technical education programs for secondary school students to create pathways to careers in the green economy.

More than 12 million high school students are enrolled in the CTE; high-quality CTE programs have been shown to boost high school graduation, college enrollment, and earnings. With programs organized around specific career themes, they offer internships and other work-based learning experiences, and provide opportunities to earn industry-recognized degrees and college credits while staying on top of the game. high school. CTE programs also seem to work particularly well for students who have low levels of education, including young men and students with disabilities.

CTE programs have been successful across all fields of study, suggesting that similar models focused on green jobs and careers can have similar effects. In fact, promising green CTE programs are springing up across the country. In Malta, New York, Clean Technologies Early College High School, a P-TECH model school, offers learning experiences in clean energy, business and solar installation, opportunities to obtain certificates in photovoltaics and a pathway to associate degrees in electrical construction and maintenance. . The New York Harbor School on Governors Island in New York offers programs in areas related to marine health, including aquaculture and marine systems technology, and offers courses in professional diving and ship operations, as well as paid internships.

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How New York students are restoring the city’s port one oyster at a time

In Kansas, the Green Tech Academy at Olathe West High School is a four-year program with paths in both renewable energy and sustainable agriculture. Ocean Springs High School in Mississippi trains students in aquaculture through a program that allows them to continue their studies at a local community college, and Frankford High School’s Bright Solar Futures program in Philadelphia offers training and certificates recognized by the industry in solar power installation and energy conservation, preparing students for entry-level solar jobs.

However, as innovative as these programs are, they tend to be one-time efforts. To prepare students for the future green economy, a more coordinated effort will be needed to align labor market needs with CTE programs nationwide.

The Aspen Institute’s recent K-12 Climate Action Plan recommends developing new CTE opportunities that prepare students for jobs in the clean energy economy and creating programs that support knowledge of the environmental sustainability across all career paths. This could be done in a coordinated fashion by raising funds through the federal Perkins Vocational and Technical Education Act, which provides states with more than $1 billion annually to support CTE education. For example, electricians and HVAC technicians now need to understand new technologies used for homes and buildings powered by renewable energy. Other core areas of ETC’s current programming are being transformed by climate change efforts, including buildings and architecture, transportation and logistics, and agriculture and natural resources.


Fueled by grants, states are betting innovative job training programs will inspire disengaged youth to return to school post-COVID – from college

Perkins already requires school districts to conduct needs assessments of local labor markets. States could use this funding to help schools make explicit connections with green employers to build the skills students need and create opportunities for internships, apprenticeships, and workplace learning experiences.

Other sources of funding should be developed to support the green ETC, such as money to purchase training equipment like solar panels, wind turbine parts and greenhouses. Funding research aimed at understanding how schools and districts can best align their educational offerings with the rapidly changing labor market should also be a policy priority.

Developing a pipeline of talented students ready to enter the job market as the clean energy transition accelerates would ensure a strong and skilled pool of workers ready to take on the challenge of reducing carbon emissions at the scale and speed demanded by science. This would be a victory for students, employers and the environment.

Rachel Rosen is Senior Associate and Co-Director of MDRC Center for effective vocational and technical training.


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Secure Energy Services Inc. (TSE: SES) Receives an Average “Buy” Recommendation from Brokerages


Secure Energy Services Inc. (TSE: SES) received an average “buy” recommendation from the eleven ratings companies that currently cover the stock, reports MarketBeat Ratings. Four investment analysts rated the stock with a Buy recommendation and two gave the company a Strong Buy recommendation. The 12-month average price target among analysts who have rated the stock over the past year is C$6.89.

Several research companies have commented on SES. CIBC raised its price target on shares of Secure Energy Services from CA$7.00 to CA$7.50 in a Thursday, January 13 research note. raised its price target on Secure Energy Services from C$6.60 to C$7.75 and gave the company a “buy” rating in a Monday, Nov. 1 research note. National Bankshares raised its target price on Secure Energy Services from C$6.50 to C$8.00 in a Wednesday, January 26 research note. Raymond James raised his price target on Secure Energy Services shares from C$7.25 to C$7.75 and gave the company a ‘Strong Buy’ rating in a Tuesday, November 2 research report . Finally, National Bank Financial raised its price target on Secure Energy Services stock to C$6.50 and gave the stock an “outperform” rating in a Monday, Nov. 1 research report.

HSE opened at C$6.00 on Wednesday. Secure Energy Services has a fifty-two week minimum of C$2.95 and a fifty-two week maximum of C$6.58. The company has a market capitalization of C$1.85 billion and a P/E ratio of -15.38. The company’s 50-day moving average is C$5.70 and its 200-day moving average is C$5.12. The company has a debt ratio of 103.38, a current ratio of 1.21 and a quick ratio of 0.96.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 17. Investors of record on Saturday January 1 received a dividend of $0.007. The ex-dividend date was Thursday, December 30. This represents a dividend of $0.03 on an annualized basis and a yield of 0.47%. The dividend distribution rate of Secure Energy Services is -7.69%.

(A d)

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About secure energy services

Secure Energy Services Inc, an energy services company, provides specialized solutions to upstream oil and gas companies operating primarily in the Western Canadian Sedimentary Basin and the United States. The Company’s Midstream Infrastructure segment provides services, such as clean oil terminal, rail transshipment, pipeline transportation, crude oil marketing and custom processing, produced and waste water disposal, waste treatment fields and the purchase/resale of petroleum services through its full-service terminals. , railway facilities, oil pipelines, crude oil terminal facilities, sewage facilities and landfills.

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EXCLUSIVE Shale oil producer Ovintiv considers options for Utah land – sources


Feb 22 (Reuters) – Shale producer Ovintiv Inc (OVV.N) is seeking to hire an investment bank to consider options for its acreage in Utah’s Uinta Basin as it seeks to profit of soaring energy prices to reduce its debt. , three sources familiar with the matter told Reuters on Tuesday.

A full or partial sale would be among the options for Ovintiv, a major producer in the Uinta Basin, the sources said, adding that a sale of the assets could bring in around $1 billion.

No final decision has been made on the assets and Ovintiv may still decide to keep them, the sources warned. They requested anonymity because the discussions are confidential.

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A spokesperson for Ovintiv said the company does not comment on potential or suspected acquisition or divestiture activity.

A sell-off, if it occurs, would be the second by a major player in the oil-rich basin after privateer EP Energy sold its position to KKR-backed Crescent Energy (KKR.N) last week. last for $815 million. . Read more

EP faced months of antitrust challenges over an earlier plan to sell stakes to EnCap-backed XCL Resources, which already had some assets in the area. Read more

Publicly-listed U.S. shale producers have sought to take advantage of crude nearing $100 a barrel by selling operations no longer essential to their development plans and using the cash to clean up balance sheets or reward investors.

Ovintiv, which formerly operated as EnCana and was once Canada’s largest company, moved to the United States in January 2020 in hopes of attracting more investors after years of challenges in the Canadian sector. Energy.

However, the onset of the coronavirus pandemic just months after its relocation saw the company’s shares tumble along with other U.S. oil and gas producers. A year later, Ovintiv faced more pressure from an activist investor demanding changes to its budget and sales of non-core assets.

Ovintiv settled with activist fund Kimmeridge in March 2021, and with the strong recovery in oil prices, it sold its assets in the Eagle Ford and Duvernay shale plays.

Ovintiv has used the money raised from these sales to reduce its debt and has set a goal of reducing its net debt from $4.8 billion to less than $3 billion by the end of 2022.

The company, which classifies its holdings in the Uinta Basin as non-core, has cut spending in recent years and shifted its budget to more profitable regions in the Anadarko and Permian Basins.

Ovintiv’s assets spanned approximately 207,000 net acres in central Utah and had production of approximately 13,000 barrels of oil equivalent per day according to its 2020 annual report.

Ovintiv is expected to release its fourth quarter results on Thursday.

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Reporting by Shariq Khan in Bengaluru; Editing by Maju Samuel

Our standards: The Thomson Reuters Trust Principles.

Energy Business Coalition to Decarbonize Downstream Facilities in Egypt


A coalition of energy transition leaders – Bechtel, Enppi, Petrojet, GE, Baker Hughes, HSBC and the National Bank of Egypt – signed a memorandum of understanding under the auspices of Tarek El Molla, Egypt’s Minister of Petroleum and mineral resources, in Cairo, Egypt.

The coalition will provide execution, technology and financing expertise for a new initiative to support the decarbonization of selected downstream facilities in Egypt, aligning plans with the country’s direction at COP27, the United Nations Conference on climate change 2022.

The coalition’s technical partner organizations have the commitment and track record, as well as the technical expertise and data to play an instrumental role in this important effort.

“The coalition we have formed will support Egyptian leadership in creating access and opportunity for Africans on the road to net zero ahead of COP 27,” said Paul Marsden, President of the Energy Business Unit at Bechtel. “We bring world-class expertise in the execution, technology and financing needed to enable Egypt to achieve its decarbonization goals. Our Bechtel team looks forward to continuing our partnership with the people of Egypt. »

The coalition’s work will begin immediately with an assessment of onshore oil and gas facilities wholly or partially owned by the Egyptian government to target CO2/reduction of methane emissions and energy savings.

Read the article online at: https://www.hydrocarbonengineering.com/the-environment/22022022/coalition-of-energy-companies-to-decarbonise-downstream-facilities-in-egypt/

The world’s first hybrid hydrogen heating system is part of the Milford Haven project


The world’s first smart hydrogen hybrid heating system has been demonstrated in Pembrokeshire.

The innovative technology could help the UK reach its 2050 target of Net Zero, which aims to see the decarbonisation of all sectors of the economy.,

The trial was part of the UK funded research and innovation program Milford Haven: Energy Kingdom project.

It has been successfully implemented by a collaboration of partners – Port of Milford Haven, Passiv UK, Wales & West Utilities, Kiwa UK, Worcester Bosch, Offshore Renewable Energy Catapult and Pembrokeshire County Council.

The trial combined a hydrogen boiler with an electric air-source heat pump and smart control technology and was conducted in a commercial building at the Port of Milford Haven, the UK’s largest energy port.

According to The Energy Saving Trust, emissions from home heating and hot water need to be cut by 95% to meet UK net zero targets by 2050, and hybrid heating technology will become increasingly important to customers commercial and domestic.

Hybrid heating systems can flexibly switch between using renewable electricity when available and green gases like hydrogen at other times.

For many existing homes and businesses, hybrid heating systems offer an affordable and convenient way to decarbonize heating.

Research suggests that almost 50% of UK properties are not suitable for stand-alone heat pumps due to their poor thermal properties and other limitations.

Hybrid heating systems are a cheaper, less disruptive alternative that can be installed as a quick and direct replacement for a typical boiler system. At the Milford Haven demonstration, Kiwa UK delivered bottled hydrogen to the Worcester Bosch boiler to simulate times when renewable electricity was not available to run the heat pump, or when a surge temperature was needed.

The smart controls were designed by Passiv UK and switch between air source heat pump and hydrogen boiler.

Every two minutes, the system assesses GB’s energy production mix and the availability of renewable electricity on the local grid, and instructs the boiler to run on hydrogen when it is not available. Hydrogen is a clean fuel that produces no carbon emissions when burned.

Steve Edwards, Commercial Director of the Port of Milford Haven, said: “Having already established itself as the UK’s energy capital, the Milford Haven waterway is now at the center of a renewable energy revolution, with a huge potential to become the capital of low-carbon energy. UK, saving thousands of local jobs and creating thousands more.

“To get to Net Zero we need to provide Net Zero electricity, transport and heat and we have all the components needed here on our doorstep in Pembrokeshire to act as a vital cluster of national importance.”

Wales & West Utilities, the gas network for Wales and South West England, is one of the partners in the project.

By 2026, they will have invested £400m to prepare its network for transporting green gases like hydrogen and biomethane.

Cllr Cris Tomos, Pembrokeshire County Council Cabinet Member for the Environment, Welsh Language and Public Protection, said:

“The council is proud to lead the Milford Haven:Energy Kingdom project which positions the Milford Haven waterway as a frontrunner for the production, distribution and use of hydrogen.

“The project’s heating and transport demonstrators demonstrate what can be achieved through working with our partners and Pembrokeshire can use these innovations as we strive to become a net-zero carbon authority by 2030.”

The Milford Haven:Energy Kingdom project is one of the detailed design projects of the Prospering from the Energy Revolution works program funded by UK Research and Innovation under its Industrial Strategy Challenge Fund.

The project aims to design a blueprint for smart local energy systems powered by renewables and hydrogen, and more specifically how to create demand and make the distribution and use of green hydrogen financially viable in buildings, l industry, energy and transport.

University of Illinois extension adds natural resources, environment and energy educator to staff – Muddy River News


Amy Lefringhouse | Photo courtesy of University of Illinois Extension

URBANA, Illinois – The University of Illinois Extension recently welcomed Amy Lefringhouse as a natural resources, environment and energy educator in Adams, Brown, Hancock, Pike and Schuyler counties in the west from Illinois. County Executive Shelby Crow says the position involves a partnership with John Wood Community College.

“We are proud to serve local residents with expertise and education in specialized areas to improve the overall health of our community,” Crow said. “Residents will now have a local professional to ask questions about their own natural resource issues, conduct environmental workshops, and serve as a resource for communities to learn how to save money through conservation. water and energy.”

Whether you’re fighting invasive species on your property, starting to compost at home, or trying to reduce fertilizers on the farm, doing the right thing for the environment isn’t always clear. The extension’s team of natural resource experts connects communities across the state to research-based resources and best practices because small changes at the local level can have a big impact on the environment.

With community partnership a core part of his role, Lefringhouse will serve area students by teaching courses in natural resources, wildlife, and sustainable and renewable energy at John Wood Community College in Orr’s new multipurpose agricultural facility.

Construction of the new 24,000 square foot facility began in September. It will house the University of Illinois Agricultural Research and Demonstration Center and bring agricultural research, education and development to west central Illinois. The facility will include offices and classrooms, exhibit space and an animal care unit for hands-on on-site training for students. The 400+ acre site will include grassland and grassland patches as well as a stocked pond.

“This new facility will increase and improve educational opportunities for agriculture students and community members,” Crow said in a press release. “We look forward to many more years of this incredible partnership and the potential for Illinois outreach programs that this new facility offers.”

Lefringhouse is passionate about bringing local natural wonders to communities and inspiring people to learn more about the natural world by serving as a volunteer in the Illinois Master Naturalist Program.

“West-central Illinois offers so many natural gifts to explore and the University of Illinois Extension is well positioned to bring environmental education to families and communities right in their ‘backyard’ “, Lefringhouse said in the statement.

She looks forward to helping residents discover new perspectives on their natural resources, learn how to save money at home through energy-saving actions, and discover that time spent in nature can be a pathway to a healthier life. She plans to expand the Master Naturalist program, connect landowners with resources to manage their property sustainably, and inspire students to actively participate in the field of conservation management.

“Having managed several different natural sites, I have witnessed the positive impact of conservation practices on land and water resources,” said Lefringhouse. “I look forward to learning more about local natural resources and environmental concerns. “

Most of Lefringhouse’s career has focused on environmental education for young people. She most recently served as Executive Director of Gardner Camp, an outdoor youth education center. She previously worked with the Illinois Department of Natural Resources, the Illinois Natural History Survey, and the US Fish and Wildlife Service in Minnesota.

A native of west-central Illinois, Lefringhouse studied environmental science at Illinois College and earned a Master of Science in Environmental Planning and Management from the University of Illinois at Springfield. She is a member of the Environmental Education Association of Illinois and a member of the Illinois 4-H Diversity, Equity, Inclusion and Access Task Force.

Lefringhouse is based in the Illinois Extension Adams County office in Quincy. She can be reached at [email protected] or (217) 223-8380.

University of Illinois extension educators and specialists connect every county in Illinois with university research through in-person and distance learning programs and other outreach activities. They strive to provide businesses, families and agricultural producers with the practical tools and resources needed to solve problems.


Two-bladed float sets deployment date as Petrofac joins


Petrofac has signed a memorandum of understanding (MOU) with Seawind Ocean Technology, an engineering and technology company that has developed what Petrofac describes as “a unique floating offshore wind system”.

Dutch company Seawind has developed proprietary two-blade floating wind turbines integrated into a unique concrete floating structure suitable for installation in all seas, including cyclonic regions and ultra-deep waters, Petrofac said.

Source: Seawind Ocean Technology

Under the MoU, Petrofac will initially take over system design verification and subsequently position itself to provide project management/EPCm services as part of the first floating offshore wind demonstrator of 6.2 MW from Seawind, which is to be deployed in European waters by the first quarter of 2024.

“The recent announcement of ScotWind’s offshore wind lease signals a major commitment to delivering the UK’s Net Zero ambitions. More than half of the prizes went to floating wind projects, which we see as a major driver of our growth ambitions in the new energy sector,” John PearsonCOO of New Energy Services at Petrofac, said.

“We look forward to deploying over a decade of offshore wind expertise to support Seawind Ocean Technology and the growing floating wind industry.”

The two companies will work together to combine Seawind’s floating offshore wind expertise and Petrofac’s track record in engineering, procurement and construction (EPC) and power project delivery.

Under the terms of the agreement, they will collaborate in the delivery of the first concessions of floating offshore wind farms, initially in the Mediterranean Sea and subsequently in other European and global locations, as well as working on the electrification of other offshore energy assets.

“Today, we are delighted to announce our strategic collaboration with Petrofac which will strengthen our ability to execute on our promising initial projects,” Vincent DewulfCEO of Seawind Ocean Technology, said.

“Petrofac delivers to its customers through innovation and technology, with proven results. Seawind has developed a unique patented technology that deploys oscillating-hinged twin-blade wind turbine technology, which has many advantages for offshore applications. The assembly of the complete system is carried out in a port with land-based cranes, no installation vessel is needed for installation at sea.”

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Woodside vows to take on U.S. shale oil producers after BHP merger


The Woodside Petroleum official says she is ready to take on US shale oil producers with what the Australian energy group sees as a cleaner, less capital-intensive bid following the acquisition of BHP’s oil and gas business This year.

The merger will propel Woodside from Australia’s second-largest liquefied natural gas producer to one of the world’s top 10 private-sector energy producers outside the supermajors, making it a significant oil player with assets in the United States. , Mexico, Canada, Algeria and Australia. .

Under the deal, which will close mid-year pending a shareholder vote in the second quarter, BHP shareholders will receive shares of Woodside representing 48% of the combined company.

Chief executive Meg O’Neill said the wider group would not be exposed to oil and gas projects requiring technologies such as hydraulic fracturing – processes commonly referred to as ‘unconventional’ in the industry – meaning that it would avoid the high cost of shale mining, a factor she said U.S. investors would like.

She also argued that the company’s high exposure to gas, which emits less carbon per unit of energy than oil, would be an advantage when it came to raising capital from increasingly investors. more climate-conscious.

“We don’t have the ongoing capital risk of being in the unconventional [sector],” she said. “I think US investors looking for a low-carbon portfolio will find Woodside quite attractive.”

Graeme Bethune, chief executive of energy consultancy EnergyQuest, said Woodside’s claims about emissions intensity were “probably correct”, but stressed the merger would not diversify the company away from fossil fuels.

“In many ways, it’s Woodside doubling down on oil and gas,” he said. But he added that clean energy research group BloombergNEF recently ranked Woodside first out of 10 LNG producers — including Chevron, BP and Shell — in terms of energy transition readiness.

Woodside released a climate report on Thursday, in which it sets emissions reduction targets for 2030.

The Australasian Center for Corporate Responsibility called Woodside’s plan for its ‘Scope 3’ downstream emissions a ‘joke’ because it failed to take into account the emissions created when its oil and gas were burned.

“The only credible way for Woodside to reduce its scope 3 emissions is to simply stop developing new gas basins,” said Dan Gocher, ACCR’s director of climate and environment.

But O’Neill said it was up to customers and governments to manage those shows, saying, “Our Scope 3 is someone else’s Scope 1.”

The International Energy Agency released a report last year in which it said there should be no new oil and natural gas fields “beyond those already approved for development” if we wanted to achieve net zero emissions by 2050.

O’Neill said the company would ‘absolutely’ continue to drill for oil and gas, but insisted the strategy was in line with the goals of the 2015 Paris accord, saying gas production helped Asian countries meet their international commitments under the agreement.

She said exploration must have a short and clear run to commercial production, given the uncertain long-term future of oil and gas demand.

“I think we’re past the days of exploring resources that haven’t been mined for 20, 30 or 40 years. We need to ensure exploration is focused on a fast track to commercialization, to ensure the work can deliver shareholder value,” she said.

She has also defended the company’s lobbying on climate issues, even as Woodside faces pressure from activist groups. “We need to make sure that we continue to have active and appropriate conversations about the right metrics to keep investors like us investing,” she said.

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Power company plans high-voltage cable and pylons in Israel’s oldest planted forest


The national electricity company is moving ahead with plans to erect massive pylons for a high-voltage cable that will cross the first park ever established in Israel by the Jewish National Fund KKL-JNF and will require the felling of hundreds of trees, some of them more than 100 years old.

Hulda Forest, about ten kilometers (six miles) southeast of the city of Rehovot in central Israel, was planted in 1907 to commemorate Theodor Herzl, the founder of political Zionism, who died three years earlier .

Covering about 200 dunams (50 acres) and visited by some 300,000 to 400,000 people a year, it was the first forestry center in the country. It includes an old house named after Herzl (although he never lived there), recreation areas, memorials, and a hiking trail.

In the 1980s, planners set aside a corridor for power infrastructure, and in the 1990s, after a national master plan was approved in 1991, pylons carrying a high voltage line were installed there – three in forest, at least six along Shaham stream and others in open areas.

Now the Israel Electricity Company (IEC) wants to build a second high-voltage cable, as well as a new set of pylons, parallel to the old ones, to help it meet the country’s growing electricity demand. and to bring renewable energy produced in southern Israel. to the densely populated central region.

The KKL and the regional council both want the cable to be buried and/or relocated on Route 6, the Cross Israel Highway, just a few miles away.

A section of olive grove has been cleared for a new pylon to carry a high voltage electric cable. (Courtesy of Gezer Regional Council)

The two power stations that will be linked by the new cable, Gezer and Tsafit, are also next to Route 6.

In addition, the trees along the highway are much younger than those in the park, therefore easier to replace.

Rotem Yadlin, who heads the Gezer regional council, which includes mostly kibbutzim, moshavim and other small communities, has been struggling for two and a half years to change location.

Just over a month ago, after the IEC moved in with equipment, without telling the board, it appealed to the Central District Court in Lod but lost. The court ruled that the plan met all “bureaucratic” requirements and construction could continue.

Part of a wheat field has already been cleared for a new pylon to carry a high voltage electric cable. (Courtesy of Gezer Regional Council)

Sections of farmland to the north and south of the forest have already been cleared for the placement of pylons, although the pylons have yet to be erected.

“The national infrastructure committee hasn’t decided exactly where the cable will go yet, but the IEC is creating facts on the ground,” Yadlin told The Times of Israel, asking rhetorically when the courts would intervene on the side of Israel. environment.

Neither the National Infrastructure Planning Committee (known by its Hebrew acronym, Vattal), nor the IEC nor the Ministry of Energy consulted the council at any time, she said.

Rotem Yadlin, chairman of the Gezer regional council. (Ronen Horesh)

“Every request I’ve made – whether to bury the cables, put them along Route 6, or even make the pylons less ugly – has been turned down,” she said.

“When the 1991 National Master Plan was approved, five million people lived in the country. Ten families lived in the community of Mishmar David. There are now 350. The community is just 150 meters (just under 500 feet) from the existing power line. It will be just 120 meters (400 feet) from the new one.

Yadlin cited the introduction of the new National Power Infrastructure Master Plan (NOP 41), which must be approved by the government, which calls for different types of infrastructure to be combined in one place wherever possible to avoid d damage open areas.

The introduction notes the importance of “the preservation and maintenance of landscapes, culture and heritage values, agriculture, environment and appearance, a continuum of spaces open spaces, biodiversity and natural ecosystems and their essential services to humanity’, as well as access to nature for recreation, education and tourism.

“There are words and there is reality,” Yadlin said. “I would expect innovative thinking from Startup Nation. But here they are working according to a plan that was approved 35 years ago. The planning is old fashioned and does not take into account the open space. They just go for the simpler option without any understanding of aesthetics.

It is understood that the project will likely require the felling of some 300 to 400 trees, over 12 dunams (three acres).

Hulda Park is a popular spot for couples to have their photos taken before their wedding. (Gilad Mastai)

Gilad Mastai, director of plains and coast of Shfela region at KKL, said he had not only presented his opposition to the plan, but would inform the senior forestry official of the Ministry of Agriculture that he would oppose the uprooting of trees.

“Just look at this whole area of ​​vineyards, orchards and agricultural fields. It is covered with pylons and poles for lighting, telephones, cellular networks, electricity. Has anyone asked why we need so many publications? »

He added that a second high voltage cable would interfere with a major KKL project to improve the forest.

“It’s terrible to destroy a small park like this. These cables create noise and radiation and people won’t want to come anymore,” Mastai said.

The Department of Energy said placing the new line next to the existing one meets the requirements of National Outline Plan 41 by using an existing area zoned for electrical infrastructure, rather than developing a new one.

“The Department of Energy has conducted several roadside tours in conjunction with interested parties,” a spokeswoman said. “Moving the line to another location would likely harm other stakeholders.”

A statement from the Central Region District Planning and Building Committee said it was still “considering the best option for laying the final section of the alignment”.

A spokeswoman for the IEC said: “Prior to the implementation of plans on the ground, all work was coordinated with landowners and council, including a letter to the head of council in July 2021.”

She added that “all options have been considered from an environmental perspective”.

PUC decision on network modernization sends advocates back to square one


The system responsible for delivering electricity to your doorstep is old – dating back around a century. The architects of that system weren’t thinking about rooftop solar, electric cars or the climate crisis, topics advocates today say the grid needs to address.

But the state’s seven-year foray into how best to update our system didn’t require significant changes, frustrating some who worked on the plan. They say an update is urgently needed: to enable more clean energy, to make the grid more flexible, reliable and participatory, and to make more information available about how we use energy .

The push for a modern grid is supported by a range of people and organizations in the state, from clean energy advocates, such as Clean Energy New Hampshire, to environmental groups, including the Conservation Law Foundation.

Consumer advocate Don Kreis has also been active on the issue, given the potential benefit to taxpayers of having more information and potentially more control over their energy use. Cities like Lebanon have also been involved in grid modernization, where energy expert Clif Below leads initiatives such as community power to enable more local control of electricity.

But some utilities are unwilling to change the way they do business — or allow outsiders to influence the power grid investments they should be making. So when the Public Utilities Commission created a stakeholder group that would do this in May 2020, Eversource pushed back and asked the commission to reconsider. Unitil has added its voice to this request.

“Eversource cried bloody murder and the PUC climbed under his desk,” Kreis said.

After suspending the order for nearly two years, the commission reversed its 2020 decision in an order issued last week – reversing the plan to require stakeholder input and asking how the state will manage the modernization of the network in the future. . Eversource says it is committed to modernizing its network to provide safe and reliable service to its customers.

Nearly seven years after the commission first addressed the issue, it was not the outcome some had hoped for. Kreis called it an “epic failure” and said it was a waste of time and money.

“I’m really frustrated because you know who ends up paying for all that wasted time and energy? Taxpayers. Even if it all falls through – no harm, no fault – someone wasted a lot of money,” he said.

And for many climate activists and scientists who hope electrification could reduce emissions, there’s no time to waste.

Currently, utilities are driving decisions about network investments — something the February decision leaves untouched. Instead, the order closes a case, indicating that another will be opened in the future to investigate the same issue.

Nick Krakoff, a lawyer at the Conservation Law Foundation, said it puts the process back to square one, but it’s unclear how restarting the process now will be different.

In contrast, the 2020 decision would have given other stakeholders a seat at the table, a change that Krakoff said would have been beneficial. He said utilities tend to want to expand distribution without worrying about upgrading for the future. In a written statement, an Eversource spokesperson said the company looks forward to the commission’s next steps in reviewing the network modernization and plans to get involved in the process.

“We work every day to ensure that the grid of the future can reliably meet the energy needs of our customers in a cost-effective manner, and how we can best facilitate the interconnection of new distributed energy resources (such as solar power on roofs) through network upgrades,” Eversource spokesman William Hinkle said.

Krakoff and other advocates say grid modernization is a key part of increasing clean energy — moving away from fossil fuels that emit carbon into the atmosphere and drive climate change and toward sources energy that does not emit.

This transition raises many important questions, such as how clean energy resources such as solar and wind power are integrated and how to electrify areas traditionally powered by fossil fuels, without increasing the already high cost of electricity for taxpayers.

Chris Skoglund, Clean Energy New Hampshire’s new director of energy transition, said the decision was both a surprise and a disappointment.

Modernization is necessary, according to Skoglund, because the grid was designed when power stations were centralized – but that is changing, as individuals and businesses install solar panels or wind turbines, or cities produce their own hydroelectric power . Instead of a one-way street, power increasingly flows both ways. And as electric cars become more common, battery storage is also increasingly entering the equation. Skoglund and others say this can increase grid reliability, and it can also be exploited to reduce the cost of electricity, as a battery could reduce demand during a busy time of day – when everyone is home work, for example.

“There are strong economic reasons to do this, and there are very strong environmental reasons (to modernize the network),” Skoglund said.

He is not talking about an insignificant change but about a fundamental overhaul of the distribution of energy. Skoglund thinks there are small ways to answer this big question – like having cheaper rates to charge an electric vehicle when there is less demand for electricity, at night, for example, when most people are sleeping.

“We have climate change and technological change happening hand-in-hand, so this century-old electricity distribution system needs to go through the changes that we need, essentially, behind the scenes,” he said. he declared.

National Energy Services Reunited Corp. (NASDAQ:NESR) Short Interest Down 16.0% in January


National Energy Services Reunited Corp. (NASDAQ:NESR) benefited from a sharp drop in short interest during the month of January. As of January 31, there was short interest totaling 604,600 shares, a decrease of 16.0% from the total of 719,900 shares as of January 15. Based on an average daily trading volume of 218,100 shares, the short-term interest rate ratio is currently 2.8 days. Currently, 0.9% of the company’s shares are sold short.

RENS traded down $0.15 during Friday’s midday session, hitting $9.56. The stock recorded a trading volume of 9,689 shares, compared to an average volume of 238,124 shares. National Energy Services Reunited has a 52-week low of $8.56 and a 52-week high of $15.95. The company’s fifty-day simple moving average is $9.79 and its two-hundred-day simple moving average is $10.96.

Several large investors have recently bought and sold shares of NESR. FMR LLC increased its position in National Energy Services Reunited shares by 22.1% in the 1st quarter. FMR LLC now owns 1,358,969 shares of the company worth $14,202,000 after purchasing an additional 246,130 shares in the last quarter. Deutsche Bank AG increased its position in National Energy Services Reunited shares by 148.2% in the second quarter. Deutsche Bank AG now owns 33,306 shares in the company worth $475,000 after buying an additional 19,888 shares in the last quarter. BlackRock Inc. increased its stake in National Energy Services Reunited by 32.7% during the second quarter. BlackRock Inc. now owns 1,569,473 shares of the company worth $22,364,000 after acquiring 387,023 additional shares in the last quarter. Bank of New York Mellon Corp increased its stake in National Energy Services Reunited by 35.6% during the second quarter. Bank of New York Mellon Corp now owns 86,396 shares of the company worth $1,231,000 after acquiring 22,679 additional shares last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in National Energy Services Reunited during the second quarter at a value of approximately $262,000. Institutional investors and hedge funds own 41.88% of the company’s shares.

(A d)

It’s scientific breakthroughs like this that give investors like you the chance to get in early on the companies that will revolutionize the world…

And you might only get once in a lifetime opportunity to invest in something that big…

Separately, TheStreet downgraded National Energy Services Reunited from a “b-” rating to a “c” rating in a Wednesday, November 24 research report.

National Energy Services Company Profile United

National Energy Services Reunited Corp. is a holding company that provides petroleum services. It operates through the following segments: Production Services and Drilling and Appraisal Services. The Production Services segment includes coiled tubing, cementing, stimulation and pumping, nitrogen services, filtration services, completions, pipelines, laboratory services and artificial lift services.

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Should you invest $1,000 in National Energy Services Reunited right now?

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Implications of a Russian invasion of Ukraine


xbrchx/iStock via Getty Images

Basic thesis

Anyone who has followed the news is aware of a massive build-up of Russian forces on the Ukrainian border. While the Russians have repeatedly said they have no intention of invading Ukraine (again), US officials including Secretary of State Blinken have said they expect to a Russian incursion at any time. I read that Putin postponed any act of war until the end of the Olympic Games, whose closing ceremonies will take place on Sunday February 20. If he waits much longer than that, he risks softening the ground as the spring thaw approaches and creating muddier ground for tanks and trucks.

Map of Russian troops

Map of Russian troops surrounding Ukraine (world news)

There are also those who believe that Putin has no real intention of invading and is simply using troop buildup as a way to flex his muscles and as bargaining leverage to keep Ukraine out of NATO and prevent further additions to NATO. To date, US and NATO officials have not granted Putin’s wishes.

In my opinion, Putin is not bluffing and has many strategic reasons for taking at least more of Ukraine than he took under the Obama administration in 2014. The most important strategic reason is his current control of the Crimean peninsula, home to Sevastopol, a major Russian naval base. There is no direct overland route to Crimea without passing through eastern Ukraine. It makes perfect sense to take a wide enough strip of land east of the Dnipra River to grant this land connection to Russian territory.

detailed map of Ukraine highlighting Crimea

Map of Ukraine (NBC World News)

Additionally, much of the population of eastern and southern Ukraine is ethnically Russian, whose primary language is Russian, and identify as Russian. A Russian takeover of this part of the country could lead to less resistance from citizens than the western part of the country.

map of language speakers in Ukraine.

Ukraine ethnic map (Reddit)

Implications of an invasion

President Biden has threatened “swift and severe costs” in the form of economic sanctions against Russia. Many European officials echoed that sentiment despite making it clear that they would not sanction Russian energy products. There is a big reason for this exclusion from sanctions: Europe imports around 60% of its energy needs, with some countries like Germany depending even more on imports and importing almost all of its oil and natural gas.

german energy products bar chart

German imports vs locally produced energy (clean energy wire)

clean energy wire

Russia is Europe’s largest external energy supplier, supplying around 45% of the region’s natural gas, with countries like Germany once again being even more dependent on Russia. A massive gas pipeline called Nordstream 2 has just been completed to bring even more natural gas from Russia to Germany. It is just waiting for regulatory approval to start operating.

Russia (and Belarus which it effectively controls) are also very large producers of potash, a major nutrient for crops.

potash production by country

Potash volumes (Mining.com)

source Mining.com

Russia is also the largest wheat exporter in the world with about 39 million tons per year. For context, the United States is the world’s second largest exporter with 27 million tonnes exported.

Given this outsized presence of Russia and its proxies in the commodities space, it makes sense that the US and Europe have excluded commodities from any sanction. Their main threat seems to be the SWIFT system in the banking sector (Society of Worldwide Interbank Financial Telecommunication). SWIFT is a messaging system running on a network of global financial institutions. If you want to be a bank that interacts with other banks, you basically have to be on SWIFT. Biden hinted that Russian banks could be kicked out of SWIFT.

To think that any sanction as punishment for the invasion of Ukraine, let alone the one that badly hit Russian banks, would happen without retaliation from Putin is in my opinion ridiculous. The energy and agricultural ax that Russia holds over Europe is immense. While Europe could access oil, potash and wheat from other sources, there is virtually no substitute for natural gas. If Putin decided to shut down the gas lines, it would leave large swaths of countries like Germany in the dark. This alone could push Europe into a recession. I’m also of the opinion that sanctions on Russia that excluded energy products but included potash and wheat would drive up those prices globally and create an even bigger inflation problem than the one I’m writing about for months. Indeed, fears of a disruption in these commodities have already sent prices soaring, which you can see below.

Potash price in North West Europe Euro/metric ton

european potash table

Potash prices in North West Europe (Bloomberg)


EU export wheat prices

chart of european wheat export prices

export price of wheat (Bloomberg)


I can see these and other commodity prices rising further if war breaks out and sanctions ensue.

How to play it:

There are several ways to play this potential commodity chaos. The most obvious to me is Equinor (EQNR). Norway is the second largest exporter of energy to Europe and, more importantly, the second largest supplier of natural gas. I wrote about Equinor recently. Its fourth quarter of 2021 was incredibly profitable largely due to high European natural gas prices (about 50% of production volume). You can play against other energy companies such as European oil producers like BP (BP), TotalEnergies (TTE), domestic natural gas producers like EQT Corp (EQT) and those involved in the export infrastructure of like Enterprise Products (EPD) because I believe oil and gas prices will likely rise immediately, but Equinor’s leverage on European natural gas prices is unique. Also, in the case of BP and TTE, care should be taken with exposure to Russian energy assets.

I also think global fertilizer companies will start to take advantage of this. Mosaic Co. (MOS) will benefit from any potash supply disruption. Meanwhile, CF Industries (CF) will benefit from natural gas differentials in the United States, increasing margins in natural gas-based fertilizers like ammonium nitrate.

I think defense companies will also appreciate being stimulated by hostilities. The big three are Lockheed Martin (LMT), Raytheon (RTX) and General Dynamics (GD). I also like Aerojet Rocketdyne (AJRD), which I wrote about recently.

I think there are derivative beneficiaries of any chaos in Europe or in the global energy or agricultural commodity markets. Darling Industries (DAR), which I have written about, will benefit from higher oil and diesel prices displacing natural gas for power generation in Europe, leading to a diesel price spike and a subsequent diesel price spike renewable. Valero (VLO), DAR’s partner in the renewable diesel joint venture, would also benefit.


While I pray for peace, we must prepare for the worst. It seems to me that Putin has every intention of invading and if so, it will probably happen over the next few days. At the very least, I think it’s beneficial to have general market protection in the form of put options on stock indices.

Duke Energy Corporation (NYSE:DUK) – Analyst Ratings for Duke Energy


Analysts provided the following ratings for Duke Energy (NYSE:DUK) during the last quarter:

Bullish Rather bullish Indifferent a bit bearish Bearish
Total ratings 1 1 6 0 0
last 30 days 0 0 1 0 0
1M ago 1 0 1 0 0
2 months ago 0 1 2 0 0
3 months ago 0 0 2 0 0

Over the past 3 months, 8 analysts have offered 12-month price targets for Duke Energy. The company has an average price target of $104.62 with a high of $113.00 and a low of $68.00.

Below is a summary of how these 8 analysts have rated Duke Energy over the past 3 months. The higher the number of bullish ratings, the more analysts are positive on the security and the higher the number of bearish ratings, the more analysts are negative on the security

This current average is down 4.72% from the previous average price target of $109.80.

Ratings come from analysts or specialists in banking and financial systems who report for specific stocks or defined sectors (usually once a quarter for each stock). Analysts typically draw their information from company conference calls and meetings, financial statements, and conversations with important insiders to make their decisions.

Some analysts publish their forecasts for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and industry analysts are also human and only offer their opinions to investors.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.

Latest reviews for DUK

Dated Solidify action From For
February 2022 Morgan Stanley Maintains Equal weight
February 2022 Titles B of A Updates Neutral To buy
Jan 2022 Morgan Stanley Maintains Equal weight

View more analyst notes for DUK

See the latest analyst ratings

Durability is good business


Sponsored by:

Many people focus on the attributes that define sustainability – mitigating climate change, reducing pollution, conserving natural resources and the health of the planet. While these are all strong enough reasons to make sustainability a top priority for everyone everywhere, there are more to consider.

Research has shown that customers care about social and environmental responsibility. The tendency to select “green” goods and services with low impact is growing. Companies that incorporate sustainability best practices into their business model gain a competitive advantage. Even locally, businesses can grow their customer base and retain consumers by showing that San Antonio’s sustainability is a top priority.

Competition for consumer money isn’t the only competition in San Antonio’s business community. Especially during the pandemic, companies are struggling to fill positions in all sectors. In many cases, today’s top talent can make career choices based on a company’s commitment to climate initiatives and the community. These commitments could elevate one career opportunity over another, allowing companies to hire and retain the best employees.

San Antonio has a program that helps the local business community implement or improve workplace sustainability best practices: ReWorksSA. ReWorksSA is the result of a collaboration between the City of San Antonio’s Solid Waste Management Department (SWMD) and the Office of Sustainability (OS). ReWorksSA provides consultations, in-person and virtually, at no cost to help businesses and organizations in the areas of recycling, waste reduction, water conservation, energy conservation and transport efficiency as well as resource purchasing and reduction policies. The program is available to businesses of all industries and sizes, as well as churches, schools, community organizations, and nonprofits. ReWorksSA is one of San Antonio’s climate initiatives.

Companies that engage ReWorksSA and successfully complete the process are certified Gold, Silver, Bronze or the highest honor, the Pinnacle Award for excellence in sustainability. Certification comes with recognition by city leaders and advertising and marketing campaigns that promote certified businesses to San Antonio residents. Consumers can find and select these companies from an interactive directory accessible at www.reworkssa.org.

Consider this interesting case study and proof point. Recently, the San Antonio Convention Sales Department contacted the SWMD and OS to inquire about the city’s sustainability programs. The ministry was preparing a candidacy file for an extremely important annual congress. Meeting Planners International (MPI) would bring thousands of convention, event and meeting planners to a host city in 2024. These planners would then bring their own programs to host cities. MPI’s RFP document included an entire section devoted to a city’s sustainability programs and practices. ReWorksSA’s program design “checked every box” on the MPI questionnaire. If local hotels became certified by ReWorksSA for their sustainability best practices, San Antonio would have a real competitive advantage over other candidate host cities. ReWorksSA has the potential to bring convention dollars into the San Antonio economy.

Interested organizations can find comprehensive information at www.reworkssa.org.

Protocol Labs and Nelnet Announce $38 Million Renewable Energy Fund Focused on Solar Energy Investments


Investment in solar installations will aim to expand the pool of renewable energy across the United States

SAN FRANCISCO and LINCOLN, Neb., February 17, 2022 /PRNewswire/ — Protocol laboratoriesan open-source research and development lab that creates protocols, tools, and services to radically improve the Internet, including filecoin and IPFSannounces the launch of $38 million Filecoin NNI Renewable Energy Fund, focused on investing in solar energy through United States (United States), with Nelnet Renewable Energy Services.

Protocol Labs’ strategic environmental, social, and governance (ESG) investment with Nelnet funds solar development across the United States, supporting the transition to a cleaner, more resilient energy future.

“Protocol Labs is committed to driving the next generation of the Internet, Web3, to net zero emissions. A major driver of these emissions is the electricity that Filecoin and other protocols currently consume, which comes mostly from the same networks electricity that power our homes, offices and infrastructure,” said dr. Alain Ransil, Head of Filecoin Green at Protocol Labs. “By investing in solar development with Nelnet, we are both building new generation capacity in this vital public infrastructure system and helping to advance the transition to renewable energy. This supports the responsible evolution of the Internet while by contributing to the electrical system as a whole—for the benefit of all.”

An experienced solar tax capital investor and fund manager, Nelnet Renewable Energy Services is committed $3 million capital to the fund and will act as manager of the fund throughout the life of the investment. The total investment from Protocol Labs and Nelnet will fund a portfolio of solar power projects currently estimated to generate 50 megawatts (MW) of new solar power capacity, which is currently valued at approximately $130 million. This will bring much more energy to the power grid than the 2.8 MW currently consumed by the Filecoin network in the United States, enabling the responsible growth of Filecoin without burdening the national electricity infrastructure.

Jon MillerDirector of Tax Equity Capital Markets at Nelnet, said, “We are thrilled to partner with Protocol Labs, a company building the Internet of the future, to bring more distributed solar power online to power innovation.

As the United States moves toward a zero-carbon future, investments in solar energy projects are essential to meeting the goals set by the government to address climate change. Solar power is expected to account for nearly half of new electricity generation capacity in the United States in 2022 according to the U.S. Department of Energy Solar Futures.

In its mission to transition the blockchain industry to renewable energy, Protocol Labs joined the Crypto Climate Accord (CCA) in 2021, alongside ConsenSys, the Web3 Foundation, and CoinShares. Collaborating with Energy Web on the first showcase of an open-source solution to decarbonize Filecoin, the world’s largest decentralized storage network, Protocol Labs created the Filecoin Green project. The open-source Filecoin Green Dashboard harnesses the power of Web3 verifiability to address public concerns about the energy impact of the cryptocurrency industry. There is a growing demand for technologies that allow the public to have certainty about environmental claims, showing where the energy is produced, documenting the renewable source and providing a certificate of attestation proving ownership of renewable energy credits correspondents.

Alain Ransilmanager of Filecoin Green at Protocol Labs, and Jon MillerDirector of Tax Equity Capital Markets at Nelnet, are available for an interview.

About protocol labs
Protocol Labs is an open-source R&D lab that creates protocols, tools, and services to radically improve the Internet. Protocol Labs projects include IPFS, Filecoin, libp2p, and many more, serving thousands of organizations and millions of people. The Filecoin Project is a decentralized storage network whose mission is to create a decentralized, efficient, and robust foundation for humanity’s information.

About Nelnet Renewable Energy Services
Nelnet (NYSE: NNI) is a publicly traded diversified financial services and technology company focused on providing educational services, technology solutions, professional services, telecommunications and asset management. Nelnet has almost $18 billion in assets and services on $530 billion in loan assets. Nelnet Renewable Energy Services is the company’s renewable energy investment, management and development business. Nelnet Renewable Energy Services is an experienced tax equity investor and fund manager in distributed generation solar projects. Between the capital of Nelnet and the capital of its co-investors, the collaborative platform financed $228 million of equity, supporting the construction and operation of 317 megawatts, totaling a value of $850 million solar energy projects. This renewable energy experience, coupled with Nelnet’s proven asset management capabilities since its $530 billion portfolio of lending services and its alignment of interest as an investor alongside its partners, allows Nelnet to offer a unique co-investment platform to accredited investors based on the creation of shared value and the positive environmental and social impact. For more information, visit NelnetInc.com/co-investment.

Nothing herein should be construed as, and may not be used in connection with, an offer to sell or a solicitation of an offer to buy or hold any interest in any security or investment product. Investments in investment products managed by Nelnet Renewable Energy are available only to “accredited investors”, as that term is defined in the federal securities laws. Investments are only offered through definitive transaction documents, and any prospective investor should read such documents carefully, including all investment risk factors, before investing.


Show original content:https://www.prnewswire.com/news-releases/protocol-labs-and-nelnet-announce-38-million-renewable-energy-fund-focused-on-investments-in-solar-energy-301485254.html

SOURCE Nelnet renewable energies

House GOP reverses course on green mandates


by Steve Hanner

First published this morning by the Thomas Jefferson Institute for Public Policy.

Republicans in the Virginia House of Delegates passed a series of bills opting out of Virginia’s rush to a fossil fuel-free future, but those were party votes and the Virginia Senate Democrats, who hold the majority on this side, could quickly kill them all.

Two bills to repeal or amend the Virginia Clean Economy Act (VCEA) of 2020 were also opposed in testimony from major Virginia electric utilities, which are investing heavily in mandated renewable energy assets, including including a 179-turbine offshore wind facility planned by Dominion Energy Virginia. . Various environmental groups were unified and expressed their opposition to the bills.

But utility opposition voiced in the House Committee on Commerce and Energy has not stopped the bills. On the more comprehensive proposal, two senior Republicans chose not to vote in committee. Once House Bill 118 arrived in the Plenary Chamber, however, both voted yes. One of them had voted in favor of the VCEA two years ago, the only Republican delegate to do so.

On the side of the Senate, opposition to public services is likely to harden. the Committee likely to hear all or most bills is split between 12 Democrats and 3 Republicans, and two of those Republicans have already voted to kill (“pass indefinitely”) another measure drafted to amend the VCEA and give the State Corporation Commission the power to reject renewable projects.

There was very little House-side debate and no legislative maneuvering as Republicans officially dismantled the net-zero emissions vision that Democrats imposed when they were in control in 2020 and 2021.

None of the bills received public discussion, let alone support, from Gov. Glenn Youngkin (R) or members of his administration. The only item on its day one agenda affected by these bills is ending Virginia’s participation in the Regional Greenhouse Gas Initiative. Besides legislation, there are other avenues to abandon the RGGI and end the carbon tax associated with it.

Youngkin would probably be happy to sign House Bill 1301, a direct repeal of the RGGI. The same objective is achieved in House Bill 118, but this legislation goes much further and also repeals the entire VCEA. His passage was highlighted on the Republican list of “promises kept” released on Tuesday.

The argument against House Bill 118 fell on Delegate Richard “Rip” Sullivan, D-Arlington, who argued that its passage and future solar and wind reliance are major economic boons for the Commonwealth. “Jobs and businesses are flowing to Virginia,” he said. Certainly, jobs for installers will explode during installation, and there is a turbine blade assembly plant planned for Hampton Roads to support offshore wind construction.

Drawing much less attention to the floor, a bill was passed the day before, House Bill 73, who actually received one vote from a Democrat. It leaves most of the VCEA intact, but removes specific mandates of how much wind and solar to build, and by when, and restores the authority of the State Corporations Commission to rule on needs. , reasonableness and prudence. These standard tests have been replaced by the VCEA as passed.

Many Democrats at least pretended to restore the SCC’s independent review to protect consumers, but missed the chance to put that position into action.

Two House Democrats officially vote for House Bill 1257, which establishes by law a right to use natural gas if it is available. It was filed in response to a City of Richmond decision, copying a national trend, threatening to close its municipally run gas service. Under the pending bill, Richmond would instead have to seek a buyer for the transaction.

But the bill is broader than that, banning local ordinances against new gas connections and reaching non-utility uses of natural gas. Eliminating natural gas from power generation is only part of the net zero vision, which extends to an outright ban on the energy source. Negative votes on the bill can and will be portrayed as votes to kill natural gas.

Finally, House Republicans also voted en bloc to overturn a recent rule passed by the Air Pollution Control Board and signed by former Gov. Ralph Northam (D.) Dubbed by supporters the rule of the clean car it would be tying the Virginia market for new vehicles rules promulgated by the California Air Resources Board.

House Bill 1267 (no Democratic support for this one) would allow the air board to reconsider such a settlement. But this time it is expected to conduct a full regulatory review and allow public comment, bypassed in previous legislation. And that would move the timeline for Virginia’s alignment with California rules to no earlier than 2029. California plans to ban the sale of all new internal combustion or hybrid cars and small trucks by 2035. The Lobby of Virginia car dealerships applauded and opposed the regulations. this bill.

Democrats, convinced that public opinion is on their side, are entrenched, although polling data suggests voters are siding with GOP lawmakers. The majority of the state Senate is expected to confirm its desire to ban new gasoline or diesel cars, ban natural gas stoves and furnaces, impose ever-higher carbon taxes on electricity, and then to shut down all fossil fuel production. The deadlines are always well beyond the next election or even the end of their career.

CGX Energy to begin dredging and construction of quays for a port in Guyana – executive


Guyana’s stand is seen at the offshore technology conference as Bharrat Jagdeo, the vice president of the South American nation, told the conference that it would be unfair to ask the developing nation not to develop its burgeoning oil resources, in Houston, USA, date unknown. REUTERS/Sabrina Valle

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GEORGETOWN, Guyana/HOUSTON, Feb 16 (Reuters) – Canadian oil company CGX Energy (OYL.V) will begin dredging and quay construction at a key deep-water port in Barbice, eastern Guyana , planned to serve the South American nation. oil and agriculture sectors, the company’s chairman said on Wednesday.

The CGX Energy Grand Canal Industrial Estates unit in 2010 acquired a 50-year lease for a 55-acre parcel strategically located near the Barbice River for the project. When completed, it would become Guyana’s third oil port and its only deep-water facility.

“Construction of the quays and dredging will begin very soon,” said CGX Energy co-chairman Suresh Narine. “Works on land are well advanced,” he said, noting that skilled labor has been hired for the construction of the port.

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Contractors are being selected, a process that will be followed by the construction of buildings ashore. “We are targeting the end of 2022 for the operation of the port’s offshore supply base component,” he said.

The port will primarily serve the oil and gas industry by supplying equipment, fuel, cement, water and electricity. But it will also have a section dedicated to agricultural exports, whose production is booming in this region of Guyana, and other areas for container ships, cruise liners and specialized cargo ships.

The facility, which could serve neighboring Suriname, also plans to accommodate imports and exports of agricultural products transported from Brazil after the completion of a road linking the two countries. Read more

In addition to the port project, CGX Energy and its parent company Frontera Energy (FEC.TO) are drilling oil in the Corentyne offshore block in Guyana, where they announced the discovery of yet-to-be-measured oil and gas resources. Read more

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Reporting by Sabrina Valle in Georgetown, Guyana, and Marianna Parraga in Houston Editing by Matthew Lewis

Our standards: The Thomson Reuters Trust Principles.

Utility company working on the future of clean energy


Pacific Gas and Electric Company (PG&E) customers received more renewable, greenhouse gas-free electricity in 2021 than ever before. PG&E’s mix of power sources remains among the cleanest in the country.

PG&E estimates that 50% of its customers’ electricity in 2021 came from specified eligible renewable resources, including bioenergy, geothermal, small hydro, solar and wind, according to its recent Form 10-K. Overall, 93% of its customers’ electricity came from greenhouse gas (GHG)-free resources, including renewables, nuclear and large hydroelectric plants.

“Working with our customers, communities and other partners, we have transformed California’s energy landscape by creating a robust renewable energy market and reducing greenhouse gas emissions across the state. Now we’re adding more battery energy storage to enable even more renewable energy on our electrical grid, paving the way for a healthier environment and a carbon-neutral energy system for all Californians,” said Patti. Poppe, CEO of PG&E Corporation.

PG&E strongly supports California’s clean energy policies, renewable energy goals, and efforts to limit and adapt to the impacts of climate change. Based on current projections, PG&E is on track to meet the state’s carbon-free and renewable energy requirements under Senate Bill 100, including providing 60% of its electricity from of eligible renewable resources by 2030.

Solar dominates the energy mix

At 54%, utility-scale solar represents the largest portion of PG&E’s total renewable energy mix. The company has more than 250 power purchase agreements eligible for the Renewable Energy Portfolio Standard, totaling more than 6,500 megawatts (MW) of renewable energy. Of that, about two-thirds is solar energy. According to the ISO (California Independent System Operator), one MW produces roughly enough electricity to power 750 homes. PG&E also has 445 MW of eligible renewable generation, including 13 solar power plants, which are primarily located in California’s Central Valley and generate up to 152 MW of clean energy.

Additionally, PG&E has connected more than 608,000 customers with rooftop solar panels to the power grid and is supporting customers with resources before, during and after they go solar. One in five solar rooftops in the country is within PG&E’s service area.

Batteries: the new frontier

PG&E continues to invest in battery energy storage on behalf of its customers. Battery storage improves overall grid reliability, integrates renewable energy, and helps customers save energy and money.

The company has contracts for battery energy storage projects totaling more than 3,300 MW of capacity to be deployed through 2024. More than 600 MW of new battery storage capacity has already been connected to the city’s electricity grid. ‘State.

PG&E plans to commission an additional 1,100 MW of storage capacity in 2022 and 2023, including PG&E’s Elkhorn Battery in Monterey County, a 182.5 MW BESS, which is expected to be operational before summer 2022, pending final testing and certification.

Battery energy storage allows PG&E and other utilities to store excess solar or wind power for later use. According to the ISO, there are currently times in the middle of the day when California’s renewable resources can generate more electricity than customers need.

Customer battery energy storage

In addition to large-scale, grid-scale battery storage, PG&E is the leading U.S. utility in deploying behind-the-meter (BTM) residential battery storage capacity and connects new systems to the grid every month. More than 33,000 PG&E residential and commercial customers have installed and connected BTM battery storage systems to the grid in PG&E’s service area, totaling more than 360 MW of capacity. These customers could on average count on more than 10 hours of critical backup power using their storage system.

A portion of these systems are funded by California’s Self Generation Incentive Program (SGIP), in which PG&E offers financial incentives to commercial and residential customers installing new qualifying equipment for energy generation and storage. This is a way for customers to prepare for extreme weather events and potential public safety power outage events due to rapidly changing environmental conditions in California.

Clean200 Continues to Outperform MSCI ACWI Global Index, Leaves Dirty Energy Company Index in the Dust


Clean200 Table

Clean200 vs. MSCI ACWI vs. ACWI Energy


MEDIA CONTACT: Stefanie Spear, [email protected], 216-387-1609

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Clean200 Continues to Outperform MSCI ACWI Global Index, Leaves Dirty Energy Company Index in the Dust

BERKELEY, CA—FEB. 16, 2022—as you sow and Corporate Knights today released their 9th update of the Carbon Clean 200TM, a list of 200 publicly traded companies around the world that are leading the way among their global peers toward a clean energy future.

Key findings include:

  • Clean200 companies generated a total return of 107.09%, beating the MSCI ACWI Broad Market Index (103.15%) and the MSCI ACWI/Energy Index of Fossil Fuel Companies, (31.67%) on the gross total return basis – USD since the inception of Clean200 on July 1. 2016 to January 31, 2022.

  • $10,000 invested in the Clean200 on July 1, 2016 would have grown to $20,709 by January 31, 2022, compared to $20,315 for the broad benchmark MSCI ACWI and $13,167 for the benchmark MSCI ACWI/Energy for fossil fuel companies.

  • The 10 companies that contributed the most to Clean200’s outperformance over the past year were mainly from China, the United States, South Korea and Canada and include electric vehicles, environmental protection, energy saving solutions and green energy themes.

“In 2016, we created the Clean200 in response to investors saying, ‘if we divest from fossil fuels, there’s nothing to invest in'” said Andrew Behar, CEO of as you sow and co-author of the report. “The Clean200 has consistently demonstrated that the future of clean energy is the clean energy of the present. This year, the scale and global diversity of leading companies continue to expand and redefine the term clean technology to refer to any company that offers products and services that will reduce the demand for fossil fuels and water.

The top 10 companies on the list by revenue include Apple Inc., which offers certified durable phones and laptops; Alphabet Inc. whose operations are powered by 100% renewable energy; Intel Corp. ; Taiwan’s TSMC for low-power chip solutions; and Iberdrola SA for the production of clean energy. Thirty-two countries are represented in the Clean200, including the United States (53), Canada (18), China (16), France (12) and Japan (11).

Here are the top 10 companies in terms of turnover on the Clean200:

Last name

Own income product or service

PPP* Clean Revenue

Own income ratio

Apple Inc.

Certified Sustainable Phones and Laptops



Alphabet Inc.

Fully powered by renewable energy



Intel Corporation

Energy efficient microchips




Energy efficient microchips



Iberdrola S.A.

Renewable energy



Tesla Inc.

Electric vehicles



Cisco Systems Inc.

energy efficient hardware



HP Inc.

energy efficient hardware



Schneider Electric SE

Energy management



Siemens AG

Emission reduction products



*PPP: Purchasing Power Parity or the International Dollar is based on the rate at which one country’s currency is converted into another country’s to buy the same amount of goods and services in each country.

Without the big tech outperformers like Amazon and Microsoft or any of the fossil fuel stocks currently rising due to high oil prices, the Clean200 still managed to outperform both blue chip and oil indices. and gas over the past five years, signaling the market. confidence in their mojo to move our economy forward after the pandemic,” said Toby Heaps, CEO of Corporate Knights and co-author of the report.

The Clean200 uses the Corporate Knights Clean Revenue database which tracks the percentage of revenue companies derive from clean economy themes, including energy efficiency; green energy; electric vehicles; banks financing low-carbon solutions; real estate companies focused on low-carbon buildings; forestry companies protecting carbon sinks; responsible miners of critical materials for the low-carbon economy; food and apparel companies with products mostly made from raw materials with a significantly lower carbon footprint; and information and communications technology (ICT) companies that are leading the way in renewable energy while being industry-leading by currently accepted privacy standards.

The list excludes companies reported on as you sow Invest Your Values ​​suite of mutual fund transparency tools that identify companies involved in fossil fuels, deforestation, weapons, gender inequality, tobacco, and the prison industrial complex.

“We will continue to follow and share the emergence of this economic powerhouse,” Behar continued. “There is now clear financial evidence showing that a wide range of businesses and market forces are effecting economic transformation, which is our greatest hope in controlling climate change.”

# # #

as you sow is the nation’s leading not-for-profit shareholder advocacy organization, with a 30-year track record in promoting corporate environmental and social responsibility and promoting values-aligned investing. His areas of interest include climate change, ocean plastics, pesticides, racial justice, workplace diversity and executive compensation. Click here to as you sow tool for monitoring shareholder resolutions.

Corporate Knights is a research and media B Corp that seeks to provide insights that empower people to harness markets for a better world.

**as you sow and Corporate Knights are not investment advisers, nor do they provide financial planning, legal or tax advice. Nothing in the Carbon Clean 200 report should constitute or be construed as an offer of financial instruments or as investment advice or recommendation.**


CONTACT: Stefanie Spear As You Sow 216-387-1609 [email protected]

ENSIGN ENERGY SERVICES INC. – Q4 2021 results conference call and webcast


CALGARY, Alta., February 15, 2022 /CNW/ — Ensign Energy Services Inc. (“Ensign” or “the Company”) is to release its fourth quarter and full year 2021 results before markets open on Friday March 42022. A conference call and webcast are scheduled for 10:00 a.m. MST (12:00 PM EST) to Friday, March 4, 2022.

The dial-in numbers for conference participants are as follows:

US/Canada phone number: (888) 664-6392 or

Local/international phone number: (416) 764-8659

Conference ID #: 67207260

A live webcast of the conference call can be accessed via Ensign’s website at www.ensignenergy.com/presentations. A digital recording of the call will be available shortly after the call ends until March 11, 2022 by dialing 1-888-390-0541 (local calls 416-764-8677) and entering the number reservation 207260#.

Ensign is a world leader in oilfield services, headquartered in Calgary, ABoperating in Canada, United States and internationally. We are one of the world’s leading land drilling and well servicing contractors serving crude oil, natural gas and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment, well servicing and production services. Please visit our website at ensignenergy.com.

Ensign’s common shares are publicly traded through the Toronto Stock Exchange under the ticker symbol ESI.

SOURCEEnsign Energy Services Inc.

Quote Show original content: http://www.newswire.ca/en/releases/archive/February2022/15/c2007.html

Oversight of Congressional Cryptocurrency Activity | Akin Gump Strauss Hauer & Feld LLP


[co-author: Kyle Perel]

As the 117th Congress enters 2022, cryptocurrency and digital assets will continue to be an area of ​​focus and intense discussion for Democrats and Republicans alike. Member interest continues to grow in this space, with the number of bills and hearings related to blockchain technology, crypto regulation, stablecoins and central bank digital currency weekly growth. In addition to general bipartisan concerns about any new regulations that would stifle innovation in this space, Congress has been particularly focused lately on issues related to cryptocurrency transaction reporting and cryptocurrency mining. cash. In addition to the aforementioned congressional activity on these issues, the provisions of the recently released law America COMPETES Act related to digital assets have sparked debates on both sides of the aisle.

Taxation – Cryptocurrency Reports

As the Senate crafted its bipartisan infrastructure legislation through the spring and summer of 2021, efforts to fund new infrastructure investments led members to consider tax administration and digital assets. . Language regarding “brokers” and digital asset reporting was eventually included by the Senate in the Infrastructure Investment and Employment Act (IIJA) and eventually enacted into law PL No. 117-58 ). Section 80603 of the Act—Information reports for brokers and digital assets— defined a broker as “any person who (for compensation) is commissioned to regularly provide any service performing transfers of digital assets on behalf of another person”. Congressional crypto advocates on both sides of the aisle and in both houses have expressed concern over the breadth of the definition, arguing that it could potentially capture customers, miners, hardware vendors/ software and others in the crypto-ecosystem who do not have the information they would be required by law to provide to the Internal Revenue Service (IRS). Legislation has already been introduced to address these perceived shortcomings. Although the tax treatment and reporting obligations regarding virtual currency have been part of the Treasury and IRS priority policy plan for 2019the upcoming guidelines on the definition of “broker” could have major ramifications in the crypto landscape and are being watched closely from both sides of the aisle.


On December 14, 2021, the senses. Rob Portman (R-OH) and Mark Warner (D-VA) led a bipartisan letter to Treasury Secretary Janet Yellen urging her to define the term “broker” as adopted in the IIJA by “rulemaking under the Administrative Procedure Act (APA) in an expeditious manner” . The letter further urged the Treasury, “due to the need for certainty and the time required for rulemaking under the APA… [to] provide information or informal advice as soon as possible” on the definition of broker. The lawmakers also made it clear that they were “ready to propose legislation to further clarify” the intent of the definition. Join Sens. Portman and Warner on the letter were Sens. Mike Crapo (R-ID), Kyrsten Sinema (D-AZ), Pat Toomey (R-PA) and Cynthia Lummis (R-WY). Prior to this letter, on November 15, 2021, Senator Ted Cruz (R-TX) introduced a bill, S.3206, to repeal the cryptography provisions of the IIJA. In a similar vein, three days later, Senate Finance Committee Chairman Ron Wyden (D-OR) and Senator Lummis introduced a bill to revise the rules of interpretation applicable to the requirements of declaration of information imposed on brokers in terms of digital assets (S.3249). The senator’s bill would clarify that the definition of “broker” excludes minors as well as wallet providers and developers, and would ensure that only digital asset intermediaries who actually have access to material customer information are required to do so. report to the IRS.


In the House of Representatives, one bill that has notably garnered bipartisan support is Rep. Patrick McHenry’s (R-NC) Keep Innovation in America Act (HR 6006). In response to the confusion arising from the provisions of the IIJA, “this bill would expand the definition of a broker, for tax reporting purposes, to include any person who (for a fee) stands ready in the course normal for a transaction or company to make sales of digital assets at the direction of their customers. It also provides reporting requirements for digital assets (i.e. any digital representation of value recorded on a cryptographically secured distributed ledger). Additionally, the bill requires the Secretary of the Treasury to conduct a study and provide a report to Congress on the treatment of digital cash assets for purposes of reporting requirements for cash payments over $10,000. Introduced on November 17, 2021, the bill won all-party support with a total of 17 co-sponsors (twelve Republicans and five Democrats). Most recently, on Jan. 27, 2022, Reps. McHenry and Tim Ryan (D-OH), along with nine other lawmakers, urged Treasury Secretary Janet Yellen to set a narrow target when determining which digital asset companies will will be subject to new IRS reports. rules. In the letter, the lawmakers focus on the IIJA’s provision that requires brokers who facilitate transfers of digital assets to report their activities for tax purposes by asking it “to provide further clarification to American innovators and entrepreneurs.” . The bipartisan letter was also signed by the original co-sponsors of HR 6006: Reps. Kevin Brady (R-TX), Ted Budd (R-NC), Warren Davidson (R-OH), Tom Emmer (R-MN), Anthony González. (R-OH), French Hill (R-AR), Ro Khanna (D-CA), Eric Swalwell (D-CA) and Darren Soto (D-FL).

Energy/Environment – ​​Cryptocurrency mining


In addition to the ongoing fight against crypto reports resulting from the IIJA’s passage, the House Oversight and Investigations Subcommittee on Energy and Commerce recently hosted a first of its kind audience on the energy/environmental impact of crypto-mining. Democrats hurry Bitcoin mining companies to reduce their dependence on electricity generated by fossil fuels, even crypto-friendly lawmakers warn that this change would be essential for the future of the industry. The hearing made it clear that crypto climate policy will be of heightened importance to lawmakers as they seek to navigate the ever-changing digital asset landscape. As Democrats focused on concerns about rising power bills and climate change, Republicans took the opportunity to warn against overly burdensome regulation that could stifle innovation in the industry. Industry representatives who testified insisted they were “a force for good”, pointing out “that their energy needs could spur investment in wind and solar power projects and provide demand for essential energy that would have been wasted”.


On January 20, 2022, following the House Energy and Commerce Subcommittee hearing, Senator Elizabeth Warren (D-MA) led the bicameral letters to several of the largest national cryptocurrency miners (Riot Blockchain, Marathon Digital Holdings, Stronghold Digital Mining, Bitdeer, Bitfury, and Bit Digital) demanding more information about their energy consumption and environmental impact. Signatories include Sens. Sheldon Whitehouse (D-RI), Jeff Merkley (D-OR), Maggie Hassan (D-NH) and Ed Markey (D-MA), along with Reps. Katie Porter (D-CA), Rashida Tlaib (D-MI ) and Jared Huffman (D-CA).

Financial Services – Chinese Legislation

More recently in the House, Rep. Jim Himes (D-CT) drafted a provision for the America COMPETES Act that would have expanded the Treasury’s power to monitor and freeze accounts at financial institutions. The provision was intended to combat the use of digital assets in ransomware attacks, money laundering and other illegal activities. However, after being pushed back by industry leaders, Rep. Himes proposed that the House narrow the financial crimes provision. The proposed change would have directed the Treasury to seek public comment when implementing the measure. Critics argued that the provision would give the Treasury absolute power to stop transactions and ultimately compromise privacy. Not only did Rep. Himes’ disposition draw resistance from industry, but members of Congress also attempted to counter his efforts. Prior to House consideration of the America COMPETES Act, Representatives Ted Budd (R-NC), Nancy Mace (R-SC), and Ro Khanna (D-CA) all filed amendments to eliminate the provision. Prior to the bill’s eventual passage, lawmakers agreed to delete the article.

To monitor

We expect an executive order to be issued by the White House later this month to coordinate the crypto agenda across the executive branch. According to For those familiar with the matter, “senior administration officials have held several meetings on the plan, which is being drafted as an executive order.” The executive order would detail the economic, regulatory and national security challenges posed by cryptocurrencies and call for reports from various agencies expected in the second half of 2022. A key report is expected to come from the Financial Stability Oversight Council (FSOC) , whose role is to monitor risks to the US financial system. Another critical report is expected to examine the risks posed by the use of cryptocurrencies to facilitate various illegal activities. Additionally, the executive order is expected to assign specific roles to a wide range of federal departments and agencies in developing a comprehensive U.S. digital asset strategy. These departments and agencies range from the US Department of State to the US Department of Commerce. It seems that the general posture of the Biden administration remains one of crypto-skepticism, at the same time as a bipartisan consensus is emerging in Congress to maintain a light regulatory approach to the industry.

Vulcan Energy opens higher in Frankfurt on day one of dual listing

  • The share price rises to 5.81 euros against 5.65 at the opening
  • The company hopes the dual listing will broaden the investor base

BERLIN, Feb 15 (Reuters) – Vulcan Energy Resources shares hit 5.81 euros ($6.49) on Tuesday as the German-Australian lithium and energy company listed on the Frankfurt Stock Exchange, a move which he hopes will broaden its base of European investors as it prepares for commercial manufacturing.

Vulcan Energy is already listed on the Australian Stock Exchange (VUL.AX) where its shares closed up 0.79% on Tuesday at A$8.91 ($6.36). The shares had opened in Frankfurt at 5.65 euros.

CEO and co-founder Francis Wedin told Reuters the decision to list in Frankfurt reflected a belief that the company had matured enough to attract a more conservative European investor base following its launch on the Australian stock exchange where the projects of raw materials are more common,

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Co-founded in 2018 as Koppar Resources Ltd and renamed the following year, Vulcan Energy has signed contracts with automakers Volkswagen (VOWG_p.DE), Stellantis (STLA.MI) and Renault (RENA.PA) as well Umicore and LG Chem’s battery unit (051910.KS) LG Energy will supply up to a combined 282,000 tonnes of lithium hydroxide over periods of five to six years.

Demand for lithium, a key component of electric car batteries, has soared as automakers ramp up efforts to produce electric vehicles. Western countries are racing to attract new sources of lithium to compete with supplies from China, Australia and South America. Read more

Vulcan Energy has secured licenses for more than 1,000 kilometers of land in southwestern Germany where it plans to extract super-hot lithium-rich brine from underground reservoirs and use the heat to produce electricity and extract the lithium from the brine.

But before starting production, the company needs to conduct seismic surveys, carry out a feasibility study and engage with local stakeholders on where to drill, which could take longer than expected due to government opposition. residents close to some of its sites.

“What we try to do is develop projects that really need to be accepted by the public,” said CEO Francis Wedin.

“We want the local communities, the people to invest alongside us in the project, so we want to give them the opportunity to also buy shares.”

Local community groups near one of Vulcan’s sites in Ortenau, southwestern Germany, have expressed concern that small vibrations caused by the company’s mining technique could damage local buildings.

“We have the technology and the experience to control small movements,” said Vulcan co-founder Horst Kreuter. “Small vibrations go unnoticed on the surface.” He added that the company is setting up a compensation fund in the event of minor damage.

Kreuter said the company was in talks with automakers on additional contracts – but first needed to establish how quickly it could ramp up production.

Contracts with Umicore and LG Energy are expected to start in 2025 and with automakers in 2026. Kreuter said the company was in close contact with its customers. “We will deliver when we can,” he said.

($1 = 1.3994 Australian dollars)

($1 = 0.8815 euros)

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Reporting by Victoria Waldersee, Ilona Wissenbach; Editing by Christoph Steitz, Barbara Lewis and Jane Merriman

Our standards: The Thomson Reuters Trust Principles.

Daily Update: February 15, 2022


Start each business day with our analyzes of the most pressing developments affecting markets today, along with a curated selection of our latest and most important news on the global economy.

Market players and policy makers around the world have been talking about the global energy transition, but seem not yet to have invested enough in their companies’ and countries’ net zero actions to tackle carbon dioxide emissions and climate change. calamitous risks associated with it.

After 2020, how companies have solidified need a strong commitment with ESG principlesthe momentum continued into 2021 and culminated with the 26th UN Climate Change Conference‘s two weeks of deliberations between political and business leaders around the world on how best to tackle climate change. Now, S&P Global Sustainable1 predicts that investors, boards and government leaders will face a number of intersecting pressures and challenges that will advance their transparency, disclosures and actions in environmental, social and governance decision-making. This year will be once again a mixed bag for the energy transition. Looking ahead, 2022 could potentially see CO2 emissions reach an all-time high, underperforming renewable energy send already overheated electricity prices higher, supply chain disruptions reduce the supply of electric vehicles and renewable energy installations while making them more expensiveand the gap between ambitions and realities of hydrogen be tested, according to S&P Global Platts.

While S&P Global Ratings expects sustainability bond issuance will exceed $1.5 trillion in 2022, S&P Global Platts Analytics expects CO2 emissions from energy combustion to increase by 2.5%. This dichotomy raises questions about whether investing in the energy transition can overcome the growing risks to reach net zero and keep pace with the need to decarbonize the global economy.

The amount of capital needed to “fundamentally transform the energy system as we know it today” and address the climate crisis by 2050 is the “most catalytic part” of current energy transition discussionssaid Sarah Ladislaw, executive director of the U.S. nonprofit zero-carbon energy advocacy program RMI, during a Bipartisan Policy Center panel on Feb. 9, according to S&P Global Platts.

Fossil fuels majors like Duke Energy, Exxonand BP have recently allocated significant portions of their capital spending to their net zero plans, according to S&P Global Market Intelligence. S&P’s 2021 Global Corporate Sustainability Assessment found that more companies are create climate change preparedness strategiesand that almost a quarter of the companies surveyed consider climate change to be an “important issue”.

But many of the ambitious plans to tackle projected record emissions levels appear to lack the necessary political, regulatory and financial backing.

“The 2022 election presents significant risks to national environmental policy agendas,” S&P Global Platts said in its 2022 energy transition trend forecast. The midterm elections in the United States have the potential to significantly affect the environmental agenda of the Biden administration In Australia, the focus is on the opposition party and the issue whether a prioritization of more aggressive environmental goals will win political and popular support. Such elections remind us that “all politics is local” and that the fate of global agreements is often determined by national elections, local public sentiment and local policy changes.

Only 36.8% of some 5,300 companies reviewed in the CSA have announced plans to reduce direct emissions and/or emissions associated with their purchased energy, according to S&P Global Sustainable1. The Biden administration’s Build Back Better plan that aims to reinvigorate the country renewable infrastructure and economy long-term faced roadblocks who have prevented the package from passing. Last year, the biggest European banks seem to have contradicts their own net zero commitments by providing $55 billion in financing to companies that expand oil and gas production, according to research by ESG and corporate accountability advocacy organization ShareAction.

Companies could react as investors demand more attention to climate risks in the potential absence of government policy, “which basically gives governments a lot less control over the decisions they make,” said RMI’s Ladislaw. . to illustrate good returns on these types of investments is going to receive a premium, and that’s a different place for us with so much capital focused on that kind of behavior. We could be in for a real transformational stage for, quite frankly, anyone who can prove they’ve cracked this code… That means no one involved in today’s energy system is inevitable.”

Today is Tuesday, February 15, 2022and here is today’s essential intelligence.


Economic Research: Real-time U.S. data: Strong job gains and soaring prices fuel Fed policy

The massive drop in U.S. omicron cases through Feb. 8 echoes relatively healthy economic data reported by S&P Global Economics’ U.S. real-time data tracker. In fact, the improvement in the public health situation in the United States, if it continues, suggests a good outlook for February overall. As indicators of long-term inflation expectations reach a decade high, the Federal Reserve has reason to fear that high inflation expectations will persist.

—Read the full report of S&P Global Ratings

Access more information on the global economy >

Capital markets

For European banks, net-zero collateral helps fund oil and gas expanders

Europe’s biggest banks provided $55 billion in financing in 2021 to companies developing oil and gas production, which the shareholder group behind the research says is a clear breach of the law. climate science and banks’ own net zero liabilities. ShareAction, which coordinates shareholder campaigns, looked at the loan and issuance underwriting departments of 25 of Europe’s largest banks to 50 companies with major oil and gas expansion plans, excluding any financing sustainable, transitional or non-fossil fuel related. He revealed that some $33.2 billion had been provided to fossil fuel extenders after banks pledged to meet ambitious climate targets through the Net-Zero Banking Alliance throughout last year. .

—Read the full article from S&P Global Market Intelligence

Access more information on capital markets >

International trade

Listen: Middle Eastern LPG Suppliers Plan to Increase Exports to Catch Asian Demand

LPG demand in Asia has grown over the past decade, driven by China’s booming petrochemical sector. India’s LPG demand has also increased due to strong subsidy-driven household consumption. But major Middle Eastern exporters face growing competition from other producers, led by the shale-focused U.S. natural gas liquids industry. In a bid to win back traditional buyers and entrench themselves in a bullish LPG market, Middle Eastern producers are expected to increase export volumes in 2022. Wendy Wells, Ramthan Hussain and Joshua Ong of S&P Global Platts discuss this which awaits the LPG markets in 2022.

—Listen and subscribe to Commodities Focus, a podcast from S&P Global Dishes

Access more information on global trade >


US offshore wind pipeline reaches 30.7 GW

The United States has a pipeline of 30.7 GW of offshore wind projects, enough to meet President Joe Biden’s goal of 30 GW by 2030, according to an S&P Global Market Intelligence analysis. But the Biden administration is facing a time crunch to meet the goal: By 2025, the United States will have 4,733 MW of operational offshore wind capacity if all projects are built on time, the data shows. Another 16,218 MW of capacity is expected to be completed between 2025 and 2030, when the United States will have 20,951 MW of operational capacity. New project proposals totaling 8,128 MW of capacity did not disclose commissioning dates.

—Read the full article from S&P Global Market Intelligence

Access more information on ESG >

Energy and raw materials

Listen: Will US Oil Supply Respond to $90/B Prices?

Where is US oil production headed with prices at $90/bbl and some analysts seeing a three-digit advance? The latest episode of Capitol Crude explores the U.S. upstream outlook from multiple angles, with Mitch Fane, Ernst & Young’s energy leader for the Americas, on what drives capital decisions, l uncertainty around ESG disclosure requirements and the state of industry consolidation and digital transformation; Nathan Hasbrook, analyst for S&P Global Platts Analytics, who shares the 2022 supply outlook and a longer-term view of the future of US shale; and Starr Spencer, Platts editor for Oil News of the Americas, with the Market Minute on demand for high-end drilling rigs, an example of the cost pressures hitting the industry.

—Listen and subscribe to Capitol Crude, a podcast from S&P Global Dishes

Access more information on energy and raw materials >

Technology and media

Tech market volatility may resolve mid-year after January storm

The sharp correction that technology valuations experienced in the first weeks of 2022 may ultimately prove more beneficial than bleak for the long-term health of the market. After a boom in tech stocks during the pandemic, the new year brought a period of overhaul. As personal and corporate wealth accumulated and supply chains tightened, inflation began to soar to historic rates. The US Federal Reserve has announced that it will raise its benchmark interest rates in a bid to realign markets. Investors are now rethinking the massive valuations they assigned to growth companies, especially tech stocks, as they weigh the potential risks of a changing economy.

—Read the full article from S&P Global Market Intelligence

Access more information on technology and media >

Written by Molly Mintz.

Emerson Quiet Kool launched new products at AHR Expo


Emerson Quiet Kool launched new products at the recent AHR 2022 Expo in Las Vegas.

(Photo: EQK)

To provide users with a more convenient, energy-efficient and comfortable experience, Emerson Quiet Kool (EQK) has continuously developed new products. EQK introduced the new product which will be released in April this year – Air Handler Front Return at the booth of AHR Expo. To meet the needs of many users, the Air Handler Front Return reduces its dimension, making it only 20.5″ * 17.5″ * 36.5″. It maintains the bases of a 14 SEER single speed painted galvanized steel cabinet and a 24V controlled adaptive thermostat. This is a standard size suitable for apartment use. Its compact size and powerful features have attracted a lot of attention. Many traders expressed their intention to cooperate after hearing about Emerson Quiet Kool through the booth.

(Photo: EQK)

As a brand with over 70 years of history, EQK has also always focused on energy conservation. Our 2-5 ton condensing units and air handlers have 14 SEER to 18 SEER systems that can provide users with a clean, comfortable home with the perfect temperature. It is the most noticed and popular product in this show, it has adaptive controlled 24V thermostat, refrigerant cooling circuit board design, stable operation and wide operating temperature range. It also has multi protections: T3 sensor / High or low pressure protection etc.

The Mini-Split air conditioners presented on the stand are Energy Star certified, 19 SEER is an entry level, up to 23 SEER and 10 HSPF. For more product information, please visit EQK official website https://www.emersonquietkool.com.

Emerson Quiet Kool has always been from the customer’s point of view to provide the best service. Emerson Quiet Kool offers a no-hassle replacement limited warranty for split air conditioning/heat pump systems. This means comfort without questions. EQK will replace the unit if the compressor or coil fails within the first year of installation. This provides additional coverage on top of a 10-year limited parts warranty.

As a 70-year-old brand, EQK has grown with the times and focuses on user experience. “Based on market feedback, we will always strive to make customers more comfortable and comfortable. Every year we present new surprises to everyone. Isaac Xiao, CEO of Emerson Quiet Kool, said at the AHR 2022 expo.

EQK leaders

(Photo: EQK)

Media Contact
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UK’s National Grid to get grid stability services from renewables for the first time


A general view of solar panels at Westmill Wind Farm & Solar Park, which is community owned and supports local renewable energy, in Watchfield, near Swindon, Britain September 24, 2021. REUTERS/Andrew Boyers

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LONDON, Feb 14 (Reuters) – Britain’s National Grid said on Monday it would be able to obtain grid stability services from renewable energy generators for the first time, as part of the decarbonisation of the electricity sector and as more and more fossil fuel generators are taken offline.

Britain aims to achieve net zero emissions by 2050, which will require a huge increase in the amount of renewable energy as it moves away from fossil fuels such as natural gas and coal .

Traditionally, conventional power plants such as gas or coal have provided balancing services through contracts to maintain grid stability to ensure a reliable supply of electricity. But as older coal and gas-fired plants are taken out of service, there must be more ways to ensure grid stability.

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The UK government aims to generate 40 gigawatts (GW) of electricity from offshore wind power by 2030 – up from around 10 GW currently – which it says would be enough to power every home.

“From today, wind, wave and solar generators will be able to offer the kind of stability services traditionally provided by conventional generators,” National Grid’s power system operator said in a statement. .

He said he had amended the GB Grid Code, a rulebook for what connects to the grid, so that renewable generators and power interconnectors can compete to provide grid stability services, alongside fossil fuel generators which are directly connected to the transmission system.

Having a stable network is essential to ensure a reliable supply of electricity. It ensures that a constant 50Hz frequency is maintained and voltages do not fluctuate, which also protects equipment, National Grid ESO said.

“This supports the system’s transition away from conventional fossil fuel generation, ensures the continued security of the system while this transition takes place, and saves consumers money by helping ESO operate the system efficiently.” , he added.

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Reporting by Marwa Rashad; Editing by Nina Chestney

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Funding and M&A roundup: Battery storage company Zenobe secures £241m debt


Zenobe Energy (formerly Battery Energy Storage Solutions), a developer, operator and owner of battery storage assets in the UK, has secured a multi-source debt structure of £241 million (~$326.2 million) to accelerate the expansion of the electric vehicle rental sector. The NatWest-advised funding platform brings total debt support from UK financial institutions to over £300m (~$406.1m).

TotalEnergies, a French oil and gas major, has sign a definitive agreement with SunPower to acquire its Commercial & Industrial Solutions business for $250 million, including $60 million of the additional price subject to regulatory changes. TotalEnergies is the majority shareholder of SunPower, a provider of solar technologies and energy services.

RES, a UK-based independent renewable energy developer, has acquired Blueshore based in Australia, which offers commercial, technical and financial asset management services for solar and wind assets. Financial terms of the acquisition were not disclosed. Blueshore also offers portfolio management services to investors in the Australian market. The company currently has 1.6 GW of assets under management in the country.

Allumia, an Energy Efficiency-as-a-Service (EaaS) technology platform, raised $7.5 million in Series A2 funding. Existing investor JW Asset Management led the financing round with participation from American Electric Power and Duke Investments. The company plans to use the new funds to accelerate the development of its EaaS technology platform for large-scale deployment for commercial and industrial customers.

Reliance New Energy Solar Limited, the green energy arm of Reliance Industries, has completed the acquisition of 40% of the capital of Sterling and Wilson Renewable Energy Limited. Reliance acquired the stake through a primary investment, a secondary purchase and an open offer. On February 9, 2022, Reliance had purchased 19.66 million shares of Sterling and Wilson Renewable Energy in an off-market deal.

The Cologne start-up Sunvigo raised 15 million euros (~$17 million) in the last funding round. Sparta Capital and Eneco, which provide the largest share of financing, invest 10 million euros (~$11.4 million) with existing investors Ecosummit, High-Tech Grunderfonds and Ubermorgen Ventures. Deutsche Kreditbank AG is providing an additional €5m (~$5.6m) in loan capital.

Ion Storage Systems (ION), a manufacturer of high energy density lithium metal batteries, firm a $30 million Series A first round of funding. The funding round was led by Clear Creek Investments, VoLo Earth Ventures and Alsop Louie Partners. As part of the funding agreement, Todd Crescenzo, founder and managing partner of Clear Creek Investments, and Joseph Goodman, Ph.D., co-founder and managing partner of VoLo Earth Ventures, will join ION’s board of directors.

KBRA has assigned preliminary ratings of three classes of notes issued by issuer Sunnova Helios VII; Solar Loan Backed Notes, Series 2022-A (Sunnova 2022-A), a $297.9 million residential solar loan ABS operation. The transaction will be secured by approximately $425.6 million in residential solar loans, of which approximately $121.6 million will be funded at closing.

Utilidata, an energy technology company digitizing the grid edge to unlock the full potential of clean energy, has secured $26.75 million in new capital. The round was led by Moore Strategic Ventures (MSV), with participation from Microsoft Climate Innovation Fund and NVIDIA and existing investors Keyframe Capital, Braemar Energy Ventures and MUUS Asset Management.

Three subsidiaries of Adani Green Energy, the renewable energy branch of the Adani Group – Adani Green Energy (UP), Prayatna Developers and Parampujya Solar Energy have raised ₹6.123 billion (~$82.04 million) through their first domestic bond issue on a private placement basis. According to the company’s statement, non-convertible debentures (NCDs) rated, listed, secured and redeemable with a face value of ₹1 million (~$13,383.55) each, in several series, have a coupon rate annualized average of 7.83% per year, which is significantly lower than existing debt. NTMs have a lifespan of up to about 12 years. Proceeds from the NCDs will be used to partially refinance an existing rupee term loan carrying a higher interest cost. NCDs are rated AA/Stable by CRISIL Limited and AA(CE)/Stable by India Ratings.

Virescent Renewable Energy Trust (VRET), a renewable energy infrastructure investment trust (InvIT) of Virescent Infrastructure, raised ₹6.5 billion (~$87 million) through domestic bond issuance through 7.33-year (₹1.5 billion (~$20 million)) and 10-year (₹5 billion (~$67 million)) installments. The bonds’ average quarterly coupon is 7.93%, fully fixed for the entire term. VRET, backed by KKR, a leading global investment firm, will use the bond proceeds to fund its immediate acquisition-related borrowing needs while expanding its portfolio from the 450 MWp of operational solar projects existing. VRET maintains that this transaction is the largest issuance in a single round of ₹5 billion (~$67 million) over a 10-year term by a renewable energy company. CRISIL and India Ratings have assigned the bonds a “AAA stable” rating.

Smart grid technology provider Tantalus Systems has acquired DLC Systems d/b/a Congruitive, a provider of smart grid management solutions, for a purchase price that includes $8 million closing date and up to $5 million through a two-year earn-out. Congruitive will become a wholly owned subsidiary of Tantalus’ US operating subsidiary. Tantalus has agreed to acquire 100% of the issued and outstanding common shares of Congruitive pursuant to the terms of a share purchase agreement. The purchase price was comprised of closing consideration of $8 million in the form of approximately $3.5 million in cash, 869,565 shares of Tantalus common stock based on a C$1.76 (~$1.38) share price and the assumption of certain liabilities on Congruitive’s balance sheet at closing time.

AC Energy Corporation, through its wholly owned subsidiary, AC Energy Vietnam Investments (ACEV), and Super Energy Corporation Public Company Limited (SUPER), through its subsidiary, Super Energy Group (Hong Kong), have sign an agreement to form a strategic partnership to develop, own and operate renewable energy projects throughout ASEAN. ACEV has signed a share purchase agreement (with conditions precedent) to acquire a 49% stake in Solar NT, owned by Super HK. SUPER is a Thai renewable energy developer and investor. The transaction will be made through the acquisition of secondary shares for a total consideration of $165 million. After the restructuring, Solar NT will own and operate nine solar power plants across Vietnam with a total capacity of approximately 837 MW.

Uplift Solar, a manufacturer of smart electronics embedded in solar panels, has received an investment by the OZ Green Fund. The investment will support Uplift Solar as they expand their team and revenues.

Click here.

Read last week’s funding roundup.

SandRidge Energy, Inc. (NYSE:SD) Brief Interest Update


SandRidge Energy, Inc. (NYSE:SD) saw a significant decline in short-term interest in January. As of January 31, there was short interest totaling 356,300 shares, a decrease of 59.9% from the total of 888,200 shares as of January 15. Based on an average daily trading volume of 776,100 shares, the short interest ratio is currently 0.5 days. Currently, 1.0% of the stock’s shares are sold short.

NYSE:SD rose $0.51 in Friday’s midday session, hitting $12.24. The stock had a trading volume of 632,841 shares, compared to an average trading volume of 703,222. The stock has a 50-day simple moving average of $10.91 and a two-hundred-day simple moving average of 10, $81. The stock has a market capitalization of $448.89 million, a PE ratio of 5.72 and a beta of 2.92. SandRidge Energy has a 12-month low of $3.50 and a 12-month high of $14.99.

Several hedge funds and other institutional investors have recently bought and sold shares of SD. Thompson Siegel & Walmsley LLC purchased a new equity stake in SandRidge Energy during the fourth quarter at a value of $5,927,000. Hillsdale Investment Management Inc. increased its stake in shares of SandRidge Energy to 7,543.5% in the third quarter. Hillsdale Investment Management Inc. now owns 527,400 shares of the oil and gas company worth $6,862,000 after buying an additional 520,500 shares in the last quarter. Cannell Capital LLC increased its stake in shares of SandRidge Energy by 10.5% in the second quarter. Cannell Capital LLC now owns 3,168,765 shares of the oil and gas company worth $19,900,000 after buying 301,403 additional shares in the last quarter. Invesco Ltd. increased its stake in SandRidge Energy shares by 257.1% in the second quarter. Invesco Ltd. now owns 416,846 shares of the oil and gas company worth $2,618,000 after purchasing an additional 300,119 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in SandRidge Energy shares by 32.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,105,336 shares of the oil and gas company worth $14,380,000 after buying 273,915 additional shares in the last quarter. 40.14% of the shares are currently held by hedge funds and other institutional investors.

(A d)

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SandRidge Energy Company Profile

SandRidge Energy, Inc engages in the exploration, development and production of petroleum and natural gas. It operates in the mid-continent of the American continent and in the North Park Basin of Colorado. The company was founded by Noah Malone Mitchell III in 1984 and is based in Oklahoma, OK.

Further reading

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Google AI researchers present a new method for training models, “DeepCTRL”


Deep neural networks (DNNs) provide increasingly precise outputs as the volume and variety of their training data increases. While investing in large-scale, high-quality labeled datasets is one strategy for improving models, another is to apply “rules” – reasoning heuristics, equations, associative logic, or limitations. Consider the classical physics problem of predicting the future state of a double pendulum system using a model. Although the model can learn to predict the total energy of the system at any given time solely from empirical data, it will often overestimate the energy unless given an equation that incorporates known physical constraints, such as than the conservation of energy. The model alone cannot represent such well-established physical principles. How could such rules be taught so that DNNs get the necessary data rather than just learning from it?

What is DeepCTRL

Google Cloud AI researchers have proposed a unique deep learning training approach that incorporates rules so that rule strength can be controlled during inference. DeepCTRL (Deep Neural Networks with Controllable Rule Representations) combines a rule encoder and a rule-based lens in the model, enabling a shared representation for decision making. The data type and architecture of the model are irrelevant to DeepCTRL.

It can be used with any entry/exit rule. The main feature of DeepCTRL is that it does not require retraining to change the strength of the rule – the user can adjust it for inference based on the desired accuracy against the rule check report.

Advantages of DeepCTRL

The benefits of rule-based learning are many. For starters, rules can provide additional insight in circumstances where data monitoring is limited, which improves test accuracy. Second, rules can help DNNs gain trust and reliability. The fact that DNNs are “black boxes” is a major obstacle to their widespread adoption. User trust is often eroded due to a lack of understanding of the reasons for their reasoning and the discrepancies of their results with human judgment. Inconsistencies can be minimized and user trust can be improved by implementing rules. For example, if a DNN for loan delinquency forecasting can absorb all of a bank’s decision heuristics, the bank’s loan officers can have more confidence in the forecast.

Third, DNNs are sensitive to a variety of inputs that are incomprehensible to humans. The impact of these changes can be reduced using rules since the search space of the model is further confined to reduce underspecification.

Previous search

Various ways to incorporate “rules” into deep learning, taking into account existing knowledge in a wide range of applications, have been investigated. One method for injecting rules into forecasts is posterior regularization. The teacher network is created by projecting the student network into a rule-regulated (logical) subspace and then updating the student network to balance between reproducing the teacher’s output and anticipation of labels. Adversarial learning is used to penalize unwanted bias, especially for bias rules.

What makes DeepCTRL different?

DeepCTRL offers a training framework with rules that take advantage of Lagrangian duality. Constrained learning is studied using a formulation on the space of confusion matrices and optimization solvers that operate in a series of linear reduction steps. For variational autoencoders, KL divergence is used to inject output diversity regulation constraints or disentangled latent factor representations. DeepCTRL differs from others in that it injects the rules in a way that provides rule strength controllability to inference without relearning, which is possible by properly learning the rule representations in the data collector. Beyond simply increasing rule checking for target accuracy, this opens up new possibilities.


DeepCTRL offers a number of possible uses in real-world deep learning deployments, including improving accuracy, increasing reliability, and enhancing human-AI interaction. On the other hand, the researchers thought it relevant to point out that DeepCTRL’s ability to effectively encode rules can have unintended consequences if used with bad intentions to teach unethical biases.

Nigeria’s dream of achieving universal energy access by 2030 gets a boost | The Guardian Nigeria News


Data plays a vital role in planning. It was therefore no surprise that the Federal Government launched the Nigeria Integrated Energy Planning Tool in collaboration with Sustainable Energy for All (SEforALL). With support from the Global Energy Alliance for People and Planet and funding from the Rockefeller Foundation, this tool uses geospatial data and modeling to provide a low-cost, dynamic, and data-driven way to identify the mix of technologies and expenses. needed to achieve universal access to energy by 2030. OPEYEMI BABALOLA reports.

Nigeria’s Integrated Energy Planning (IEP) tool is expected to be an example of a world-class IEP that includes electrification, clean cooking and productive use. It is designed to identify cost-effective solutions to meet demand for a variety of energy services. Additionally, the plan also models a variety of scenarios to provide these solutions.

Launched by Vice President, Yemi Osinbajo, alongside global leaders in the energy sector, the tool is the first fully integrated energy planner for Nigeria. While traditional energy plans focus primarily on electrification, Nigeria’s IEP includes electrification, clean cooking and productive uses for the entire country.

Through this online geospatial visualization platform, energy access data, analysis and results are publicly available, benefiting a wide range of users, including the public and private sectors. .

Osinbajo at the launch noted that access to sustainable energy was crucial for the country’s development. He said, “Establishing access to clean, sustainable and reliable energy is intertwined with many of Nigeria’s development goals. We have proven that transforming our energy system is a national priority through our economic sustainability plan and, most recently, with our announcement at COP26 in Glasgow to achieve net zero emissions by 2060.”

Speaking further about the importance of the initiative, Osinbajo said the tool would be essential for the government to achieve its universal access and clean cooking goals. According to the vice president, all branches of government will not only promote it, but also use it widely. He urged the international community to rally Nigeria’s transition efforts with more realistic climate finance support.

Listing the benefits of the initiative, experts said the IEP for Nigeria states that the least cost plan to provide universal electrification through the grid, mini-grids and solar home systems is $25 .8 billion dollars. And for Nigeria to achieve universal access by 2030, the tool estimates that an additional 19.3 million connections will be needed across the country. This excludes the 11.3 million additional connections expected in places that already have access to electricity due to population growth.

According to a study from the IEP platform, a mini-grid represents the least expensive technology for the bulk of these connections (8.9 million connections), the grid (5.4 million) and the solar home system (5.0 million) sharing a similar number of connections. links between them.

When the demand for productive use of agricultural activities is included in the analysis, such as maize and rice milling activities, this increases the number of least-cost mini-grid communities by approximately 200,000, a- he declared.

Although a capital-intensive business, with the total cost of providing these connections estimated at $22.9 billion, of which $20 billion must be invested as up-front capital, since the main technologies used (i.e. solar energy) do not consume fuel. and, therefore, have a limited operating cost.

It is estimated that around 53% of households in mini-grid settlements and 92% of households in solar home system settlements will need public support to cover the total cost of ownership of the electrification solution.

Another aspect of energy sustainability being pursued by Nigeria with the tool is the potential for clean cooking solutions, which is 3.7 million for LPG, 3.5 million for electronic cooking and 4.3 million for biogas.

Nigeria’s IEP estimates that under a business as usual scenario, the country would have more than 40 million households cooking with emissions-intensive and polluting cooking methods by 2030.

To address this, there is a global opportunity to scale clean cooking solutions to 3.7 million households with LPG cooking solutions; 3.5 million households equipped with e-cooking solutions; i.e. 4.3 million households with biogas cooking solutions.

The overall cost of implementing these solutions would be $478 million for LPG, $83 million for e-cooking and $847 million for biogas. The cost of deploying these technologies is split between stoves, accessories and the infrastructure needed to provide fuel or electricity.

Based on its impact based on the technology that has been integrated into the tool, it will be vital for the private sector, as it will help solution providers to identify promising markets and provide useful business information during the deployment of the electrification and clean cooking. Another strength of the tool is its ability to identify risks associated with technology choice and strategies to promote demand for productive use to unlock the economic viability of mini-grids.

Commenting on the determination of the current administration to transform the energy sector, Osinbajo said President Muhammadu Buhari was still committed to lifting 100 million people out of poverty and boosting economic growth.

“The government is also keen to manage the long-term job losses in the oil sector that will result from global decarbonisation, calling on the international community to support Nigeria’s energy access and energy transition efforts through through much-needed climate finance commitments,” he said. Noted.

Tool promotes holistic approach to achieving SDG7 and energy development, while supporting local manufacturing, expanding local solar technology value chains and potentially creating 250,000 new jobs, Nigerian Vice President says in the energy sector in Nigeria.

Also speaking at the event, United Nations Deputy Secretary-General Amina J. Mohammed commended the federal government for its bold vision to close its energy access gaps and for its ambitious energy transition plan that paves the way to net zero by 2060.

She said: “Without prioritizing universal energy access, including clean cooking, we will not achieve our global net zero goals. Energy is also key to achieving several Sustainable Development Goals (SDGs), including improved health care, better jobs and livelihoods, and greater gender equality.

In her remarks, CEO and Special Representative of the UN Secretary General (SRSG) for Sustainable Energy for All (SEforALL), Damilola Ogunbiyi, said, “Nigeria is leading the charge with the ambitious commitment to achieve the net zero by 2060.

“I believe that access to accurate and transparent data is essential for decision making. I hope this demonstrates to other countries an invaluable tool to achieve their own energy access goals.

She is already on a four-day trip to Nigeria for high-level meetings to harness the potential of Nigeria’s IEP in implementing Nigeria’s energy transition plan.

For his part, Rockefeller Foundation Chairman Dr. Rajiv J. Shah said as the world strives to turn COP26 commitments into action, the Foundation is proud to partner with Nigeria and SEforALL. to help communities connect and transition to quality renewable energy. energy.

“Nigeria’s Integrated Energy Planning Tool is transformative in its approach to integrated electrification. Not only will this advance our efforts to empower millions of people in Nigeria, but it will also provide a blueprint for clean electrification programs, showing the world how to change energy for good,” Shah said.

What to do with home medical equipment during power outages in Austin


Job :

Stock photo of an elderly woman’s hands

AUSTIN (KXAN) — As Austin Energy crews on the ground worked to restore power outages during the recent ice storm, other city employees tracked their most at-risk customers.

The City of Austin maintains a registry of utility customers with long-term illness, serious illness or disease. This does not include nursing home residents or hospitalized patients, but rather residential customers at their homes.

Eligible program customers enjoy extra time to pay their bills and extra attention from city staff and partner social service agencies, especially during storms and disasters. The city’s website stresses that the sole purpose of the registry is to provide services to people who may need them. Customers are not guaranteed to be supplied in the event of a crisis.

As of January 2022, the city of Austin had 190 enrolled in its Medically Vulnerable Persons Registry.

A year ago, when freezing temperatures left thousands of Austinites in the dark and cold for days during the February 2021 winter storm, the city served 365 people. Of those, 220 were recorded as medically vulnerable in Austin Energy’s service area. Its customer care program staff then contacted 145 additional customers who had inquired about the registry but had not been approved, and customers who had already been registered but had not submitted documentation. medical.

An Austin Energy spokesperson told KXAN that its staff are working with eligible customers to create a contingency plan, including backup power sources or a safe location to relocate, as well as a contact person. emergency.

“We provided customers with information about heated shelters and transportation options, as well as emergency services,” the spokesperson said in an email during the 2021 storm. “In some cases where we have been unable to reach a client or are concerned for their well-being, we have contacted 9-1-1 on their behalf to request a health check.”

Due to the emergency services load at the time, Austin Energy said it deployed personnel to the field to perform a small number of wellness checks. A report after action of this stormreleased in October 2021, said field staff conducted 21 health checks and referred nine clients to EMS.

This after action report suggested to Austin Energy:

  • Work with other city departments to establish a coordinated communication process to assist customers on this registry
  • Refine the existing process to update contact details more regularly

So far, Austin Energy said it is working with the city’s Department of Homeland Security and Emergency Management on those efforts. It has also developed an internal triage and communication process to determine when wellness checks are needed, if Austin Energy personnel can perform them, or if emergency services are needed.

Am I eligible?

To qualify for the Medically Vulnerable Persons Registry, the city says customers must meet one of the following criteria:

  • On a life support system requiring uninterrupted electrical or water service, such as an iron lung, ventilator, feed pump, kidney dialysis machine, aerosol tent, apnea monitor, blood pump, compressor/concentrator, electrical nerve stimulator, extremity pump, hospital bed, hemodialysis machine, oxygen concentrator, pressure pump, pressure cushion, or ventilator
  • Treated by a licensed physician for a serious illness such as paraplegia, quadriplegia, hemiplegia, multiple sclerosis or scleroderma
  • Treated by a licensed physician for a serious illness affected by temperature changes

These qualification criteria must be continually recertified. For more details, Click here.

How to register

To register, call customer service at 512-494-9400. Austin Energy asks for the name and number of the customer’s physician, as well as the type of medical equipment in the customer’s household.

Tunisia prepares for negotiations with the IMF


Tunisian authorities are preparing for talks with the International Monetary Fund, which is due to hold a series of virtual meetings with the government in Tunis starting Monday.

“I can confirm that there will be an IMF mission from February 14 to 22,” IMF spokesman Gerry Rice said at a press briefing when asked about the meeting.

“I can confirm that the status of this mission would be virtual and where we are in Tunisia is that the Tunisian authorities at the end of last year sent a letter to the IMF asking for a new program supported by a fund” , did he declare.

“Thus, over the past few months, IMF staff and the Tunisian authorities have had technical discussions, focusing on the immediate economic challenges, the country’s priorities and the reforms to be implemented to emerge from the crisis in the country” , he added.

As part of the new negotiations, the IMF staff mission is expected to hold virtual meetings with the finance and economy and planning ministers, the governor of the Central Bank of Tunisia and other ministers whose staffs are concerned. by the reforms to be implemented, the Tunisian news agency (TAP), reported.

This virtual visit was announced a few days after the ordinary meeting of the Executive Board of the Central Bank, during which the members expressed their concern about the delay in mobilizing the external resources necessary to finance the State budget, said she indicated.

Biden administration faces resistance to clean energy push | Radio WGN 720


WASHINGTON (NEXSTAR) — President Joe Biden’s administration is advancing a green agenda that includes investments in electric vehicles and clean energy.

Energy Secretary Jennifer Granholm is leading that charge. She and the president have held events this week to promote their investments in electric vehicles and push for proposals to provide clean energy tax credits to utility companies.

“Doing nothing is not an option,” Granholm said.

Avangrid CEO Dennis Arriola was one of the people invited to the White House to talk about how companies can work with the government on green initiatives.

“To get the tax credits needed to continue our path to getting more clean energy in this country,” Arriola said.

As Democrats try to move individual elements of the Build Back Better agenda, Sen. Mark Warner says clean energy is a priority.

“We need to make sure we take aggressive action to address the challenges of climate change,” the Virginia Democrat said.

While the administration touts the climate achievements already included in the infrastructure law, it faces resistance on the rest of its clean energy program. Republicans like Representative Ralph Norman and Representative James Comer are pushing back.

“I fear the extreme proposals from the Democrats will only destroy good-paying American jobs and ruin our economy,” said Norman, a Republican from South Carolina.

“President Biden’s policies are increasing electricity costs for the American people and putting American energy companies at a competitive disadvantage to the rest of the world,” said Comer, R-Ky.

Granholm argues that building a clean energy economy will create millions of jobs and make America more energy independent.

“We’re going to make these products, we’ll use them here, we’ll brand them ‘Made in America’, we’ll export them. I mean, it’s just a huge economic opportunity,” Granholm said.

While she admits it may require political compromise, she is optimistic it can be done.

“I think there’s great agreement on the need to do something about the climate,” Granholm said.

Florida produces more solar power than most states, though it lags the smallest on roof panels


U.S. Representative Charlie Crist, the Democratic candidate for governor of Florida, has criticized a bill pending in the state legislature that opponents say will limit the growth of energy adoption solar on the roofs.

The legislation, SB 1024, intends to revise Florida’s net metering policy, which allows customers to be reimbursed for excess electricity that their solar equipment sends back to the power grid. If the bill becomes law, customers who own or lease solar equipment could see about a 75% decrease in their reimbursement rate, according to CNN.

Crist, who served as governor from 2007 to 2010, said smaller states do a much better job of solar generation than the Sunshine State.

“New Jersey and Maryland produce more solar power than Florida, the Sunshine State,” Crist said. tweeted on February 3. “A bill that removes incentives for solar panels is bad for homeowners, jobs and our environment.”

In 2013, Crist said Florida “produces virtually no solar power,” which PolitiFact Florida rated as Mostly True. We wanted to check the numbers and find out if Florida was really lagging behind New Jersey and Maryland’s solar production.

Florida has increased its solar production

One way to gauge the accuracy of Crist’s claim is to measure each state’s installed solar capacity—the power-generating potential of installed solar equipment.

In 2012, the Solar Energy Industries Association, or SEIA, ranked New Jersey and Maryland third and eighth respectively among states for installed solar capacity.

It might surprise people that smaller states surpassed the Sunshine State, but it was true back then: Florida didn’t crack the SEIA top 10, placing 17th.

That said, the situation has changed.

In 2021, Florida ranked third in the United States for installed solar capacity, with 7,765.1 megawatts. California was first with 32,209 megawatts and Texas came second with 12,309 megawatts. (One megawatt equals 1 million watts.)

New Jersey and Maryland dropped in the rankings in 2021. New Jersey ranked seventh with 3,826 megawatts of installed solar capacity, and Maryland was 17th with 1,396.5 megawatts.

The results were similar when comparing each state’s latest solar generation numbers – the actual amount of electricity produced.

Florida produced more than 7,500 megawatt hours in 2020, the US Energy Information Administration estimated. (A megawatt-hour equals 1,000 kilowatts of electricity generated per hour.) New Jersey produced nearly half the solar power that Florida and Maryland produced one-fifth.

“It’s possible that former Governor Crist is talking about something outdated,” said Susan Glickman, director of Florida Clinicians for Climate Action, a coalition of healthcare professionals concerned about climate change.

Florida lags behind in rooftop solar

Most of the growth in solar generation in Florida is coming from utility companies, not residents installing panels on rooftops.

Courtesy of the Solar Energy Industries Association

The percentage of solar generation from small-scale installations, including homes and businesses, in New Jersey and Maryland is much higher – around 65% each.

About 15% of Florida’s solar generation comes from small-scale installations, according to the EIA.

Although Florida has enough solar power installed to power more than one million homes, only about 90,000 homes in the state are powered by solar power, according to the state’s Civil Service Commission, which regulates public services.

Florida ranks 21st in the nation for residential solar systems per capita, according to an industry analysis conducted by SEIA. New Jersey placed 10th and Maryland 13th. (The analysis is not publicly available, but SEIA has confirmed the ranking with PolitiFact.)

This difference is largely due to Florida’s solar policy.

The state does not allow power purchase agreements, which provide for a developer to install a solar power system on a customer’s property and sell the generated electricity to the customer at an often lower fixed rate. at retail price.

The SEIA estimates that 83% of New Jersey’s residential solar systems are the result of power purchase agreements and similar third-party solar financing.

Florida also does not have a standard renewable energy portfolio policy, which would require utilities to meet a certain percentage of a state’s energy needs with renewable energy such as solar power.

Florida’s Energy Portfolio

When we asked Crist’s campaign about the tweet, a spokesperson said Crist was referring to the percentage of electricity New Jersey and Maryland get from solar power.

While Florida has more installed solar capacity and generation, only 4.04% of the state’s electricity comes from solar generation.

This difference is most pronounced in New Jersey, where more than 7% of its electricity comes from solar power. In Maryland, however, the difference with Florida is minimal, with 4.43% of the state’s electricity coming from solar power.

Florida, which is the nation’s second-largest electricity producer, derives three-quarters of its net generation in the state from natural gas, according to the EIA.

Yet there is no doubt that Florida produces far more solar generation than New Jersey or Maryland.

“Florida has more annual solar production, period, than Maryland and New Jersey,” Justin Vandenbroeck, president of the Florida Board of the Solar Energy Industries Association, told PolitiFact.

Our decision

Crist said New Jersey and Maryland “produce more solar power than Florida.”

The raw numbers don’t support it. Florida generated significantly more solar electricity than New Jersey and Maryland in 2020 and currently ranks third in the United States in total solar power generation capacity.

Where Crist has more of a point is that smaller states get a greater share of solar power from small-scale installations, such as homes and businesses. And despite its sunnier skies, Florida’s overall share of solar energy is less than New Jersey and Maryland (but barely).

Crist’s statement contains an element of truth but ignores critical facts that would give a different impression. We rate it mostly wrong.

Xpeng announces business partnerships in Europe


The expansion into other European countries announced by the Chinese electric car manufacturer Xpeng is materializing with the conclusion of sales and service partnerships in the Netherlands and Sweden. The commercial partnerships will soon be followed by their own subsidiaries.

In the Netherlands, Xpeng cooperates with Emil Frey and in Sweden with Bilia. Additionally, Xpeng plans to open its own branches in both countries in the first quarter – in Sweden as early as this week.

The store in Sweden will be Xpeng’s first standalone retail store in the international market, according to a press release. In the Netherlands, a retail experience store by Xpeng will follow in March at the Westfield Mall of the Netherlands near The Hague.

Xpeng sees huge potential in its collaboration with Emil Frey for its expansion in the Netherlands and beyond. The deal with the Swiss-based company would be the first collaboration between Xpeng and the agency in Europe. Emil Frey will expand Xpeng’s sales and service network in the Netherlands and manage its brand stores. Customers will benefit from uniform pricing, access to an established service and distribution network, efficient service and quality standards.

In Sweden, customers will also benefit from an existing network; that of the car dealership Bilia. This is a total of 58 dealerships and 66 service centers. Xpeng products will be available at Bilia stores and serviced at Bilia service centers – initially in Stockholm, Gothenburg and Malmö.

“Our global journey begins in Europe, propelled by our commitment to increasing the penetration of smart electric vehicles,” said He Xiaopeng, CEO of Xpeng. “We strongly support Europe’s electric vehicle development strategy and are forging partnerships with leading local players to accelerate energy conservation, emissions reduction and electrification in Europe.”

Xpeng has already been present in Norway since the end of 2020, where it offers the G3 electric SUV and, since the end of 2021, the P7 electric sedan. Xpeng announced further expansion into the European market in December 2021. Entry into the Danish market is also planned for this year. However, Xpeng has yet to give details.




Alexandra Coleman has been named Head of Centrica Business Solutions, North America, succeeding Chris Covell.

Coleman previously led the North American demand response and optimization business as well as the trade finance team.

Coleman began his career as a construction engineer, before building his career in the renewable energy sector – from servicing wind turbines in Nebraska to funding over $1 billion worth of renewable energy projects. . His desire to work more closely with energy customers brought Coleman to Centrica.

On taking on this role, she said, “We help our customers make meaningful progress towards Net Zero every day. Our work as an integrator of sustainable energy solutions is important and it makes a difference for our customers and the planet. , we provide meaningful solutions to customers and ensure that they feel good about their experience with our company.

“Centrica Business Solutions is in a unique position to deliver energy solutions, leveraging our strong experience in our customers’ facilities and the markets in which they operate. We identify and bring value to our clients’ facilities and portfolios, both internationally and in North America. We don’t offer a one-size-fits-all approach, but rather understand our clients, their aspirations and the markets they operate in to turn their energy into an asset.

“We believe this flexibility, combined with our design, engineering and structuring expertise, uniquely positions us as the premier distributed power industry partner for businesses and organizations in the United States and beyond. »

Greg McKenna, Managing Director of Centrica Business Solutions, said, “I am delighted that Alex has agreed to lead our team in North America. She brings a combination of excellent market knowledge, business acumen and leadership skills that will help grow our business in North America. and support our customers in their transition to net zero.

“I would like to thank Chris Covell for his excellent service to Centrica over the past 20 years. He believes the time is right to move on and leave a company that is poised for growth. ‘to his family, good luck for the future.”

Coleman’s tenure began in mid-January.

About Centrica Business Solutions
Centrica Business Solutions is a sustainable energy solutions integrator that helps businesses and organizations balance the demands of the planet and profit. We analyze, finance, install, operate and optimize energy by understanding every level of your organization, from facilities to entire portfolios, and finding the right balance between what’s good for your business and the planet we share. We have developed, financed, and installed over 20,000 ESCO projects across the United States, operated over 1,000 MW of distributed energy assets, and optimized a 600 MW virtual power plant in 4 ISOs across the United States.

Oge Energy Corp. shares near 52-week high


Shares of Oge Energy Corp. (OGE) closed today 1.4% below their 52-week high of $38.35, giving the company a market capitalization of $7 billion. The stock is currently down 0.4% year-to-date, up 28.2% in the past 12 months and 36.8% in the past five years. This week, the Dow Jones Industrial Average rose 0.5% and the S&P 500 rose 0.0%.

Commercial activity

  • Trading volume this week was 42.9% below the 20-day average.
  • Beta, a measure of the stock’s volatility relative to the broader market, is 0.5.

Technical indicators

  • The stock’s relative strength index (RSI) was between 30 and 70.
  • The MACD, a momentum indicator that follows the trend, indicates an upward trend.
  • The stock closed below its Bollinger Band, indicating it may be oversold.

Comparative market performance

  • The company’s stock price is the same as the S&P 500 index, beats it on a 1-year basis and lags it on a 5-year basis
  • The company’s stock price is the same as the Dow Jones Industrial Average, beats it on a 1-year basis and lags it on a 5-year basis
  • The company’s stock price is the same as the performance of its peers in the utility industry sector, beating it on a 1-year basis and lagging it on a 5-year basis

Comparative performance by group

  • The company’s year-to-date stock price performance beats the peer average by -83.4%
  • The company’s stock price performance over the past 12 months exceeds the peer average by 114.2%
  • The company’s price-to-earnings ratio, which relates a company’s stock price to its earnings per share, is 7.5% above average.

This story was produced by the Kwhen automated news generator. For more articles like this, please visit us at finance.kwhen.com. Write to [email protected] © 2020 Kwhen Inc.

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

North Carolina Environment Launches Statewide Renewable Energy Campaign | News


CITY OF MORE HEAD — A statewide environmental organization has launched a campaign to seek renewable energy for Carteret County and the rest of the state.

Environment North Carolina announced on February 3 the launch of a campaign for 100% renewable energy in North Carolina. According to the announcement, as “Gov. (Roy) Cooper and state officials set priorities and plans for the new year, ENC plans to take steps to transition the state to 100% renewable energy. . »

ENC attorney Krista Early said “For decades, North Carolina has relied on dirty energy sources that pollute the air, harm our communities, and damage our unique natural landmarks. like Linville Gorge or the Outer Banks”.

“The people of North Carolina deserve better than this and now, thanks to incredible advances in technology, we can fix that by repowering ourselves with clean, renewable energy,” Ms. Early said. “We are already well underway, and now is the time for North Carolina to make that vision a reality by committing to 100% renewable energy.”

ENC said in its announcement that the campaign seeks to tap into a national trend of renewable energy progress and growing ambition. According to ENC, in 2020, wind and solar energy produced 11% of electricity in the United States, compared to “only 0.5% in 2001”.

“In North Carolina, solar power has grown more than 265 times since 2011,” ENC said, “and has seen a 564 GWH increase in wind power generation and continues to demonstrate growth potential.” .

To date, nine states have committed to producing 100% clean or renewable electricity by 2050 or earlier.

According to ENC, cities, universities and businesses are also increasingly sourcing energy from renewable, efficient and reliable sources.

“In fact, more than 180 U.S. cities, including five in North Carolina, have committed to switching to 100% renewable energy,” the organization said. “Environment North Carolina joins 11 other state groups in the Environment America National Network that are working to build on this momentum and secure additional statewide commitments.”

Ms Early said “the stage has been set for America’s transition to a renewable energy system”.

“States across the country are taking their place in this monumental change that has already begun,” she said. “The question is what role does our state want to play? I hope to see center-stage taking North Carolina on the move toward a clean energy future, transforming the way we produce and consume energy in North Carolina, and inspiring other states to follow our lead.”

In Benton Harbor, plumbing crews battle the cold and the unexpected


BENTON HARBOUR, MI – Water entering Camillia Goins’ home on Buss Avenue in Benton Harbor was coming from the main, but not the one outside her front door.

Instead, its water traveled sideways through a galvanized pipe under several neighboring lots from a fire hydrant on the corner of South Winans Street – an unexpected complication crews discovered while digging several large trenches and holes in his front yard and the neighboring vacant lot.

“They came a few days ago and couldn’t find the water shutoff valve,” Goins said, watching workers tear up his yard before Jan. 31. “When I moved here they tried to turn my water on and it was in the wrong place – they couldn’t get it out here in front of the house.

“They said he was redirected elsewhere.”

It’s been a noisy past week for residents of Buss Avenue as crews tore up concrete and dirt with jackhammers and diggers, searching for lead and galvanized water pipes and replacing them with pipes copper in a $500,000 contract won last fall by Meeks Contracting, a local company owned by the son of a county commissioner.

Meeks won the job Sept. 21, two weeks before the city’s tap water problems swept into the national spotlight when state officials began trucking in bottled water. Benton Harbor Municipal Commission approved a contract to replace 100 lead service lines with part of a $5.6 million grant awarded in 2020 by the U.S. Environmental Protection Agency (EPA).

The first pipes came out Nov. 9, when Governor Gretchen Whitmer pledged to see all those lead lines in Benton Harbor dug up and replaced within 18 months, an effort expected to cost more than $30 million and who should benefit. federal funding for the infrastructure program.

Meeks continued to work through the winter, battling snow and cold in a slow but steady effort to solve the problem. The blizzard that hit last week slowed progress but only halted work for a day and a half.

In the cold, “everything takes a little longer,” said team leader David Frizzell.

“You’ve got pipe bursts, stuff freezing, you don’t want to work,” Frizzell said. “You work with water. Everything is more slippery. I fell last week. The road was icy.

The crew has a box truck with a heater inside for breaks. Because metal becomes brittle as temperatures drop, crews generally didn’t work in temperatures below 20 degrees, Frizzell said. But, “if it reaches a certain temperature, it just depends on what we’ve done.”

Finding unexpected obstacles such as odd pipe routing can delay work. Crews try to hit three houses a day, but tend to hit one or two on average.

For the Goins house, crews had to replace the water stop value known as the curb box in addition to running a new copper water pipe through the property.

John Hodge, a supervisor on the Meeks team, called it interesting work; essentially unearthing and reversing the decisions of past generations – and correcting their mistakes.

“You might see things you would never see,” Hodge said, recounting a move to Colfax and Parker avenues where pipes bringing water to four homes were all interconnected.

“Beneath the ground is like a loop of leaden cobwebs.”

Meeks has replaced about 40 lines since November. About 90 percent of all lead line work remains in Benton Harbor, according to city engineering consultant Abonmarche, which maintains a online dashboard showing progress. About 3,880 of the total 4,322 “suspected” problematic lines have yet to be replaced or verified as lead-free.

The malleable toxic metal has long been used in plumbing to connect homes to the municipal grid. It is commonly found in older homes in Michigan and beyond. In 1986, Congress banned lead service lines, but allowed existing buried lines to continue.

Lead is a potent neurotoxin that experts say has no safe exposure level. High amounts can cause brain and nervous system damage, slowed growth and development, learning and behavior problems, and hearing and speech problems. Exposure has also been linked to lower IQ, reduced attention span and performance in school children.

In Lansing, lawmakers are considering a spending bill that would spend $1 billion on replacing plumb lines across Michigan — which would cover less than half of the total problem. Under Michigan’s Lead and Copper Rule, revised in the wake of Flint and considered the strongest in the nation, water utilities have until 2041 to replace all lead service lines.

Jason Marquardt, principal engineer at Abonmarche, said Benton Harbor had planned to replace around 900 lead pipes over the next four years as part of a state requirement to speed up pipe replacement after the Tap water began testing for high lead in 2018. About 25 lines were replaced in 2020 through state revolving loans. Then, in October, the city’s three-year-old lead crisis erupted and public outcry accelerated that timeline.

“This is a work in progress,” Benton Harbor Mayor Marcus Muhammad said. “One of the game changers was the resources when the governor came down and offered $20 million – that changed everything.”

Funding to cover replacements at Benton Harbor was cobbled together from federal grants and state loans. The city needs about an additional $11 million to complete the project and the rest will likely come from a supplemental water infrastructure appropriation bill that serves as a vehicle for distributing federal infrastructure and development funds. recovery in the event of a pandemic.

“One of the things we don’t want to do is underestimate the cost of completion, because as we replace these service lines, contractors ‘probe’ to see if there are any ‘other lines that need to be addressed,’ Muhammad said.

“There is a period of discovery that happens at the same time as the replacement.”

Full completion by April 2023 is aggressive but doable, Marquardt said – although he is unconcerned about the potential for delays due to the need for signed access clearance forms before contractors can start building. dig at an address.

Marquardt said he expects “right of entry” form submissions to increase once entrepreneurs become more visible on a regular basis in the community. This week, the city commission decided to force the issue by approve potential fines, jail time, or community service for homeowners who do not replace lead pipes at their own expense or participate in the Free Town program.

“I think it’s going to be a lot of work,” Marquardt said. “I think it’s doable if they can make sure the materials keep coming and there’s no shortage.”

“I’m pretty positive about it right now.”

Work is expected to ramp up in March once five new companies selected by the city commission in January begin excavations in 12 work zones across the city.

At a special meeting on January 25, the city finalized $33.2 million in contracts with Hoffman Bros. of Battle Creek, Five Star Energy Services of Wisconsin, SWT Excavating of Galesburg, B and Z Company of Benton Harbor and Selge Construction Co. of Niles.

Businesses have an incentive to work quickly, Marquardt said. There are early completion bonuses of up to $100,000 per area built into the contracts.

“The trick is to get these guys started in time,” he said.

In the meantime, state officials said deliveries and distribution of bottled water around Benton Harbor will continue until all lead pipes in the city are replaced.

“There are no plans to end the free distribution of bottled water while the pipes are being replaced across the city,” Michigan Department of Health and Human Services director Elizabeth Hertel said this week ( MDHHS).

In December, Michigan’s Department of Environment, Great Lakes and Energy (EGLE) said six-month test results showed a reduction in lead levels in the city’s tap water, bringing Benton Harbor even with the federal action level of 15 parts per billion. (ppb).

The agency said previous sampling cycles had shown consistently high results between 22 and 32 ppb over the past three years in 90th percentile testing under Michigan’s Revised Lead and Copper Rule. EGLE attributed the decline to the impact of corrosion inhibitors on the city’s beleaguered water plant, which is under a federal order to fix treatment outages.

The EPA is expected to release this month the final results of a study on the effectiveness of tap water filters that state and county health departments began distributing in 2019.

Related stories:

EGLE says lead levels drop in BH water

$150,000 water bills in BH canceled thanks to subsidy

After 2021 water problems, Michigan prepares to fix billions

EPA promises fixes to Trump-era lead water rule

Emails show fight between EGLE and BH water chief

Is Benton Harbor Gretchen Whitmer’s Flint?

EPA orders BH to fix troubled water system

Hamtramck, other systems reported for lead

Benton Harbor water crisis echoes past, locals say

Nanoparticle concerns spurred BH response, state says

Valkyrie Bitcoin Mining Etf to List on Nasdaq; Everything you need to know


Crypto asset management firm Valkyrie’s bitcoin mining exchange-traded fund (ETF) is set to list on the Nasdaq exchange on February 8. The Valkyrie Bitcoin Miners ETF will invest 80% or more of its assets in companies that earn at least half of their profits from bitcoin mining.

In a filing with the U.S. Securities and Exchange Commission (SEC), Valkyrie CEO Leah Wald said, “Increased focus and desire for exposure to bitcoin miners from investors prompted the company to petition the SEC on January 26 to offer the ETF. .

An ETF is a pool of diversified securities that track a particular index, sector or other asset. They are like mutual funds, except they can be bought and sold on the stock exchange.

Why this is a step forward for crypto ETFs and mining companies

Historically, only forward ETFs (an agreement to buy or sell shares of an ETF at an agreed price in the future) have been allowed in the market because spot ETFs have not been approved by the SEC. This is a small but important step towards the future institutional adoption of bitcoin and other cryptocurrencies.

It will also shed light on bitcoin cryptocurrency mining companies which are slowly becoming more popular as the demand for crypto trading has also increased among the general public.

It could also be a valve for other cash ETFs. Valkyrie also has a handful of ETF spots awaiting SEC approval.

All About Bitcoin Mining ETF

This ETF provides exposure to stocks of various bitcoin mining companies already listed on the Nasdaq but with the benefits of ETF investing.

Here’s everything you need to know about the ETF

  • The ETF will be listed on the Nasdaq stock exchange under the symbol “WGMI”.
  • The fund will have 80% exposure to mining companies that derive at least 50% of their profits from bitcoin mining or related activities.
  • The balance portion of the ETF will be directed to companies with significant cryptocurrency assets on their balance sheets.
  • The ETF spend ratio will be 0.75%, which means that for every $100 of ETF securities traders buy, 75 cents will go to Valkyrie, according to a Coindesk report.
  • Some of the biggest mining stocks in the fund will be Argo Blockchain (ARBK), Bitfarms (BITF), Cleanspark (CLSK), Hive Blockchain (HIVE) and Stronghold Digital Mining (SDIG). Their allocation within the fund will vary from 8 to 10%.
  • Valkyrie also said that the fund’s portfolio mining operations use about 77% renewable energy to allay investor concerns about the environmental impact of mining.
  • The Viridi Cleaner Energy Crypto-Mining & Semiconductor (RIGZ) ETF and the Bitwise Crypto Industry Innovators (BITQ) ETF are among other US-listed ETFs with exposure to crypto-mining companies. The sharp drop in bitcoin prices in recent weeks had weighed on the performance of these ETFs. However, with bitcoin now rallying above $44,000, ETFs are gaining momentum.

    Bitcoin mining has been a hot topic for lawmakers and people concerned about the carbon footprint the activity leaves behind. To their credit, bitcoin mining companies have slowly moved to using renewable energy sources. A recent report by the Bitcoin Mining Council (BMC) showed that bitcoin mining is gradually adopting a sustainable pattern of energy use.

    MicroStrategy Founder and CEO Michael Saylor, a key member of the BMC, said, “This quarter, we saw the trend continue with dramatic improvements in the energy efficiency and sustainability of Bitcoin mining in due to advances in semiconductor technology, the rapid expansion of North American mining. , the exodus from China and the global shift towards sustainable energy and modern mining techniques.

    (Edited by : Aditi Gautam)

    ATMOS ENERGY CORP Management’s Discussion and Analysis of Financial Condition and Results of Operations (Form 10-Q)



    The following discussion should be read in conjunction with the condensed
    consolidated financial statements in this Quarterly Report on Form 10-Q and
    Management's Discussion and Analysis in our Annual Report on Form 10-K for the
    year ended September 30, 2021.
    Cautionary Statement for the Purposes of the Safe Harbor under the Private
    Securities Litigation Reform Act of 1995
    The statements contained in this Quarterly Report on Form 10-Q may contain
    "forward-looking statements" within the meaning of Section 27A of the Securities
    Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All
    statements other than statements of historical fact included in this Report are
    forward-looking statements made in good faith by us and are intended to qualify
    for the safe harbor from liability established by the Private Securities
    Litigation Reform Act of 1995. When used in this Report, or any other of our
    documents or oral presentations, the words "anticipate", "believe", "estimate",
    "expect", "forecast", "goal", "intend", "objective", "plan", "projection",
    "seek", "strategy" or similar words are intended to identify forward-looking
    statements. Such forward-looking statements are subject to risks and
    uncertainties that could cause actual results to differ materially from those
    expressed or implied in the statements relating to our strategy, operations,
    markets, services, rates, recovery of costs, availability of gas supply and
    other factors. These risks and uncertainties include the following: federal,
    state and local regulatory and political trends and decisions, including the
    impact of rate proceedings before various state regulatory commissions;
    increased federal regulatory oversight and potential penalties; possible
    increased federal, state and local regulation of the safety of our operations;
    the impact of greenhouse gas emissions or other legislation or regulations
    intended to address climate change; possible significant costs and liabilities
    resulting from pipeline integrity and other similar programs and related
    repairs; the inherent hazards and risks involved in distributing, transporting
    and storing natural gas; the availability and accessibility of contracted gas
    supplies, interstate pipeline and/or storage services; increased competition
    from energy suppliers and alternative forms of energy; adverse weather
    conditions; the impact of climate change; the inability to continue to hire,
    train and retain operational, technical and managerial personnel; increased
    dependence on technology that may hinder the Company's business if such
    technologies fail; the threat of cyber-attacks or acts of cyber-terrorism that
    could disrupt our business operations and information technology systems or
    result in the loss or exposure of confidential or sensitive customer, employee
    or Company information; natural disasters, terrorist activities or other events
    and other risks and uncertainties discussed herein, all of which are difficult
    to predict and many of which are beyond our control; the capital-intensive
    nature of our business; our ability to continue to access the credit and capital
    markets to execute our business strategy; market risks beyond our control
    affecting our risk management activities, including commodity price volatility,
    counterparty performance or creditworthiness and interest rate risk; the
    concentration of our operations in Texas; the impact of adverse economic
    conditions on our customers; changes in the availability and price of natural
    gas; increased costs of providing health care benefits, along with pension and
    postretirement health care benefits and increased funding requirements; and the
    outbreak of COVID-19 and its impact on business and economic conditions.
    Accordingly, while we believe these forward-looking statements to be reasonable,
    there can be no assurance that they will approximate actual experience or that
    the expectations derived from them will be realized. Further, we undertake no
    obligation to update or revise any of our forward-looking statements whether as
    a result of new information, future events or otherwise.
    Atmos Energy and our subsidiaries are engaged in the regulated natural gas
    distribution and pipeline and storage businesses. We distribute natural gas
    through sales and transportation arrangements to over three million residential,
    commercial, public authority and industrial customers throughout our six
    distribution divisions, which at December 31, 2021 covered service areas located
    in eight states. In addition, we transport natural gas for others through our
    distribution and pipeline systems.

    We manage and review our consolidated operations through the following reportable segments:

    •The distribution segment is primarily comprised of our regulated natural gas
    distribution and related sales operations in eight states.
    •The pipeline and storage segment is comprised primarily of the pipeline and
    storage operations of our Atmos Pipeline-Texas division and our natural gas
    transmission operations in Louisiana.
    Our condensed consolidated financial statements were prepared in accordance with
    accounting principles generally accepted in the United States. Preparation of
    these financial statements requires us to make estimates and judgments that
    affect the reported amounts of assets, liabilities, revenues and expenses and
    the related disclosures of contingent assets and liabilities. We based our
    estimates on historical experience and various other assumptions that we believe
    to be reasonable under the circumstances. On an ongoing basis, we evaluate our
    estimates, including those related to the allowance for doubtful accounts, legal
    and environmental accruals, insurance accruals, pension and postretirement
    obligations, deferred income taxes and the valuation of goodwill and other
    long-lived assets. Actual results may differ from such estimates.
    Our critical accounting policies used in the preparation of our consolidated
    financial statements are described in our Annual Report on Form 10-K for the
    fiscal year ended September 30, 2021 and include the following:
    •Unbilled revenue
    •Pension and other postretirement plans
    •Impairment assessments
    Our critical accounting policies are reviewed periodically by the Audit
    Committee of our Board of Directors. There were no significant changes to these
    critical accounting policies during the three months ended December 31, 2021.
    Executive Summary
    Atmos Energy strives to operate our businesses safely and reliably while
    delivering superior shareholder value. Our commitment to modernizing our natural
    gas distribution and transmission systems requires a significant level of
    capital spending. We have the ability to begin recovering a significant portion
    of these investments timely through rate designs and mechanisms that reduce or
    eliminate regulatory lag and separate the recovery of our approved rate from
    customer usage patterns. The execution of our capital spending program, the
    ability to recover these investments timely and our ability to access the
    capital markets to satisfy our financing needs are the primary drivers that
    affect our financial performance.
    During the three months ended December 31, 2021, we recorded net income of
    $249.2 million, or $1.86 per diluted share, compared to net income of $217.7
    million, or $1.71 per diluted share for the three months ended December 31,
    The 14.5 percent year-over-year increase in net income largely reflects positive
    rate outcomes driven by safety and reliability spending and customer growth in
    our distribution segment, offset by higher spending on certain operating and
    maintenance expenses in both our segments due to the timing of certain
    During the three months ended December 31, 2021, we implemented ratemaking
    regulatory actions which resulted in an increase in annual operating income of
    $24.9 million. Excluding the impact of the refund of excess deferred income
    taxes resulting from previously enacted tax reform legislation, our total rate
    outcomes were $68.5 million for the three months ended December 31, 2021.
    Additionally, as of December 31, 2021, we had ratemaking efforts in progress
    seeking a total increase in annual operating income of $22.0 million.
    Capital expenditures for the three months ended December 31, 2021 were $684.2
    million. Over 85 percent was invested to improve the safety and reliability of
    our distribution and transportation systems, with a significant portion of this
    investment incurred under regulatory mechanisms that reduce lag to six months or
    During the three months ended December 31, 2021, we completed approximately $862
    million of long-term debt and equity financing. As of December 31, 2021, our
    equity capitalization was 51.0 percent. Excluding the $2.2 billion of
    incremental financing issued in conjunction with Winter Storm Uri, our equity
    capitalization was 59.0 percent. As of December 31, 2021, we had approximately
    $3.1 billion in total liquidity, including cash and cash equivalents and funds
    available through equity forward sales agreements.
    As a result of our sustained financial performance, our Board of Directors
    increased the quarterly dividend by 8.8 percent for fiscal 2022.
    The following discusses the results of operations for each of our operating
    Distribution Segment
    The distribution segment is primarily comprised of our regulated natural gas
    distribution and related sales operations in eight states. The primary factors
    that impact the results of this segment are our ability to earn our authorized
    rates of return, competitive factors in the energy industry and economic
    conditions in our service areas.
    Our ability to earn our authorized rates of return is based primarily on our
    ability to improve the rate design in our various ratemaking jurisdictions to
    minimize regulatory lag and, ultimately, separate the recovery of our approved
    rates from customer usage patterns. Improving rate design is a long-term process
    and is further complicated by the fact that we operate in multiple rate
    jurisdictions. Under our current rate design, approximately 70 percent of our
    distribution segment revenues are earned through the first six months of the
    fiscal year. Additionally, we currently recover approximately 60 percent of our
    distribution segment revenue, excluding gas costs, through the base customer
    charge, which partially separates the recovery of our approved rate from
    customer usage patterns.
    Seasonal weather patterns can also affect our distribution operations. However,
    the effect of weather that is above or below normal is substantially offset
    through weather normalization adjustments, known as WNA, which have been
    approved by state regulatory commissions for approximately 96 percent of our
    residential and commercial revenues in the following states for the following
    time periods:
    Kansas, West Texas               October - May
    Tennessee                        October - April
    Kentucky, Mississippi, Mid-Tex   November - April
    Louisiana                        December - March
    Virginia                         January - December
    Our distribution operations are also affected by the cost of natural gas. We are
    generally able to pass the cost of gas through to our customers without markup
    under purchased gas cost adjustment mechanisms; therefore, increases in the cost
    of gas are offset by a corresponding increase in revenues. Revenues in our Texas
    and Mississippi service areas include franchise fees and gross receipts taxes,
    which are calculated as a percentage of revenue (inclusive of gas costs).
    Therefore, the amount of these taxes included in revenues is influenced by the
    cost of gas and the level of gas sales volumes. We record the associated tax
    expense as a component of taxes, other than income.
    The cost of gas typically does not have a direct impact on our operating income
    because these costs are recovered through our purchased gas cost adjustment
    mechanisms.  However, higher gas costs may adversely impact our accounts
    receivable collections, resulting in higher bad debt expense.  This risk is
    currently mitigated by rate design that allows us to collect from our customers
    the gas cost portion of our bad debt expense on approximately 79 percent of our
    residential and commercial revenues.  Additionally, higher gas costs may require
    us to increase borrowings under our credit facilities, resulting in higher
    interest expense.  Finally, higher gas costs, as well as competitive factors in
    the industry and general economic conditions may cause customers to conserve or,
    in the case of industrial consumers, to use alternative energy sources.
    Three Months Ended December 31, 2021 compared with Three Months Ended December
    31, 2020
    Financial and operational highlights for our distribution segment for the three
    months ended December 31, 2021 and 2020 are presented below.

    Three months completed the 31st of December

                                                                            2021                        2020             Change
                                                                               (In thousands, unless otherwise noted)
    Operating revenues                                             $       972,422                  $ 876,650          $ 95,772
    Purchased gas cost                                                     496,799                    411,072            85,727
    Operating expenses                                                     285,126                    256,024            29,102
    Operating income                                                       190,497                    209,554           (19,057)
    Other non-operating income                                               1,916                        835             1,081
    Interest charges                                                         8,548                     10,712            (2,164)
    Income before income taxes                                             183,865                    199,677           (15,812)
    Income tax expense                                                       4,294                     45,985           (41,691)
    Net income                                                     $       179,571                  $ 153,692          $ 25,879
    Consolidated distribution sales volumes - MMcf                          69,545                     88,861           (19,316)
    Consolidated distribution transportation volumes - MMcf                 38,597                     39,609            (1,012)
    Total consolidated distribution throughput - MMcf                      108,142                    128,470           (20,328)

    Average consolidated gas distribution cost per Mcf sold $7.14

                      $    4.63          $   2.51
    Operating income for our distribution segment decreased nine percent. During the
    three months ended December 31, 2021 we refunded $28.8 million more excess
    deferred taxes to customers in the distribution segment compared to the prior
    year, which reduced operating income year over year and reduced the interim
    effective income tax rate for this segment to 2.3% compared to 23.0% in the
    prior year. Additional key drivers for the change in operating income include:
    •a $32.2 million increase in rate adjustments, primarily in our Mid-Tex,
    Louisiana and Kentucky/Mid-States Divisions.
    •a $4.3 million increase in customers, primarily in our Mid-Tex Division.
    Partially offset by:
    •a $10.1 million increase in depreciation expense and property taxes associated
    with increased capital investments.
    •a $3.2 million increase in pipeline maintenance and related activities.
    •an $11.3 million increase in other operation and maintenance expense, primarily
    due to employee related costs, insurance premiums and other administrative
    The following table shows our operating income by distribution division, in
    order of total rate base, for the three months ended December 31, 2021 and 2020.
    The presentation of our distribution operating income is included for financial
    reporting purposes and may not be appropriate for ratemaking purposes.
                                  Three Months Ended December 31
                                2021             2020          Change
                                          (In thousands)
    Mid-Tex               $   106,358         $ 102,320      $   4,038
    Kentucky/Mid-States        25,538            24,106          1,432
    Louisiana                  21,154            23,119         (1,965)
    West Texas                 20,874            20,047            827
    Mississippi                24,700            24,634             66
    Colorado-Kansas             2,815            13,230        (10,415)
    Other                     (10,942)            2,098        (13,040)
    Total                 $   190,497         $ 209,554      $ (19,057)
    Recent Ratemaking Developments
    The amounts described in the following sections represent the operating income
    that was requested or received in each rate filing, which may not necessarily
    reflect the stated amount referenced in the final order, as certain operating
    costs may have changed as a result of a commission's or other governmental
    authority's final ruling. During the first three months of fiscal 2022, we
    implemented regulatory proceedings, resulting in a $24.9 million increase in
    annual operating income as summarized below. Ratemaking outcomes include the
    refund of excess deferred income taxes resulting from previously enacted tax
    reform legislation and do not reflect the true economic benefit of the outcomes
    because they do not include the corresponding income tax benefit. Excluding
    these amounts, our total rate outcomes for ratemaking activities for the three
    months ended December 31, 2021 were $68.5 million.
                                         Annual Increase in
    Rate Action                           Operating Income
                                           (In thousands)
    Annual formula rate mechanisms      $            24,881
    Rate case filings                                     -
    Other rate activity                                   -
                                        $            24,881

    The following pricing efforts aimed at $22.0 million increase in annual operating income were in progress as of December 31, 2021:

                                                                                                                             Operating Income
    Division                                 Rate Action                                    Jurisdiction                     (Loss) Requested
                                                                                                                              (In thousands)
    Colorado-Kansas                          Infrastructure Mechanism                       Colorado (1)                  $             2,610
    Colorado-Kansas                          Infrastructure Mechanism                       Kansas (2)                                  1,829
    Colorado-Kansas                          Ad Valorem                                     Kansas (3)                                   (370)
    Kentucky/Mid-States                      Rate Case                                      Kentucky (4)                               14,394
    Kentucky/Mid-States                      Infrastructure Mechanism                       Kentucky                                    3,506
                                                                                                                          $            21,969
    (1)  The Colorado Public Utilities Commission approved the SSIR implementation
    at their December 22, 2021 meeting with rates effective January 1, 2022.
    (2)  The Kansas Corporation Commission approved the GSRS filing on January 27,
    2022, with rates effective February 1, 2022..
    (3)  The Kansas Corporation Commission approved the Ad Valorem filing on January
    13, 2022, with rates effective February 1, 2022.
    (4)  Included with the Kentucky rate case filing is the $3.5 million filing
    related to the annual Kentucky pipeline replacement program.
    Annual Formula Rate Mechanisms
    As an instrument to reduce regulatory lag, formula rate mechanisms allow us to
    refresh our rates on an annual basis without filing a formal rate case. However,
    these filings still involve discovery by the appropriate regulatory authorities
    prior to the final determination of rates under these mechanisms. We currently
    have formula rate mechanisms in our Louisiana, Mississippi and Tennessee
    operations and in substantially all the service areas in our Texas divisions.
    Additionally, we have specific infrastructure programs in substantially all of
    our distribution divisions with tariffs in place to permit the investment
    associated with these programs to have their surcharge rate adjusted annually to
    recover approved capital costs incurred in a prior test-year period. The
    following table summarizes our annual formula rate mechanisms by state:
                                                                 Annual Formula Rate Mechanisms
    State                             Infrastructure Programs                                 Formula Rate Mechanisms
                                System Safety and Integrity Rider
    Colorado                    (SSIR)                                              -
                                Gas System Reliability Surcharge
                                (GSRS), System Integrity Program
    Kansas                      (SIP)                                               -
    Kentucky                    Pipeline Replacement Program (PRP)                  -
    Louisiana                   (1)                                                 Rate Stabilization Clause (RSC)
    Mississippi                 System Integrity Rider (SIR)                        Stable Rate Filing (SRF)
    Tennessee                   (1)                                             

    Annual Rate Mechanism (ARM)

                                Gas Reliability Infrastructure                      Dallas Annual Rate Review (DARR), Rate
    Texas                       Program (GRIP), (1)                                 Review Mechanism (RRM)
                                Steps to Advance Virginia Energy
    Virginia                    (SAVE)                                              -
    (1)  Infrastructure mechanisms in Texas, Louisiana and Tennessee allow for the
    deferral of all expenses associated with capital expenditures incurred pursuant
    to these rules, which primarily consists of interest, depreciation and other
    taxes (Texas only), until the next rate proceeding (rate case or annual rate
    filing), at which time investment and costs would be recoverable through base

    The following annual formula rate mechanisms were approved during the three months ended December 31, 2021:

                                                                                                                 (Decrease) in
                                                                                            Test Year              Operating               Effective
    Division                                              Jurisdiction                        Ended                 Income                   Date
                                                                                                                 (In thousands)
    2022 Filings:
    Mid-Tex                                     Mid-Tex Cities RRM (1)                         12/31/2020       $     21,673                   12/01/2021
    West Texas                                  West Texas Cities RRM (1)                      12/31/2020                151                   12/01/2021
    Mississippi                                 Mississippi - SIR (1)                          10/31/2022              8,354                   11/01/2021
    Mississippi                                 Mississippi - SRF (1)                          10/31/2022             (5,624)                  11/01/2021
    Kentucky/Mid-States                         Virginia - SAVE                                09/30/2022                327                   10/01/2021
    Total 2022 Filings                                                                                          $     24,881
    (1)  The rate change for the RRM and Mississippi filings include $33.8 million
    for the Mid-Tex Cities RRM filing, $3.3 million for the West Texas Cities RRM
    filing, $2.1 million for the Mississippi SIR filing and $4.3 million for the
    Mississippi SRF filing related to the refund of excess deferred income taxes
    that will be offset by lower income tax expense. Excluding the amounts related
    to the refund of excess deferred taxes, our total rate outcomes for our
    formulate rate mechanisms for the three months ended December 31, 2021 were
    $68.5 million.
    Rate Case Filings
    A rate case is a formal request from Atmos Energy to a regulatory authority to
    increase rates that are charged to our customers. Rate cases may also be
    initiated when the regulatory authorities request us to justify our rates. This
    process is referred to as a "show cause" action. Adequate rates are intended to
    provide for recovery of the Company's costs as well as a fair rate of return and
    ensure that we continue to deliver reliable, reasonably priced natural gas
    service safely to our customers. There was no rate case activity completed
    during the three months ended December 31, 2021.

    Other pricing activity
    The company had no other pricing activity in the past three months
    December 31, 2021.

    Pipeline and Storage Segment
    Our pipeline and storage segment consists of the pipeline and storage operations
    of our Atmos Pipeline-Texas Division (APT) and our natural gas transmission
    operations in Louisiana. APT is one of the largest intrastate pipeline
    operations in Texas with a heavy concentration in the established natural gas
    producing areas of central, northern and eastern Texas, extending into or near
    the major producing areas of the Barnett Shale, the Texas Gulf Coast and the
    Permian Basin of West Texas. APT provides transportation and storage services to
    our Mid-Tex Division, other third-party local distribution companies, industrial
    and electric generation customers, as well as marketers and producers. Over 80
    percent of this segment's revenues are derived from these services. As part of
    its pipeline operations, APT owns and operates five underground storage
    facilities in Texas.
    Our natural gas transmission operations in Louisiana are comprised of a 21-mile
    pipeline located in the New Orleans, Louisiana area that is primarily used to
    aggregate gas supply for our distribution division in Louisiana under a
    long-term contract and, on a more limited basis, to third parties. The demand
    fee charged to our Louisiana distribution division for these services is subject
    to regulatory approval by the Louisiana Public Service Commission. We also
    manage two asset management plans, which have been approved by applicable state
    regulatory commissions. Generally, these asset management plans require us to
    share with our distribution customers a significant portion of the cost savings
    earned from these arrangements.
    Our pipeline and storage segment is impacted by seasonal weather patterns,
    competitive factors in the energy industry and economic conditions in our Texas
    and Louisiana service areas. Natural gas prices do not directly impact the
    results of this segment as revenues are derived from the transportation and
    storage of natural gas. However, natural gas prices and demand for natural gas
    could influence the level of drilling activity in the supply areas that we
    serve, which may influence the level of throughput we may be able to transport
    on our pipelines. Further, natural gas price differences between the various
    hubs that we serve in Texas could influence the volumes of gas transported for
    shippers through our Texas pipeline system and rates for such transportation.
    The results of APT are also significantly impacted by the natural gas
    requirements of its local distribution company customers. Additionally, its
    operations may be impacted by the timing of when costs and expenses are incurred
    and when these costs and expenses are recovered through its tariffs.
    Three Months Ended December 31, 2021 compared with Three Months Ended
    December 31, 2020
    Financial and operational highlights for our pipeline and storage segment for
    the three months ended December 31, 2021 and 2020 are presented below.

    Three months completed the 31st of December

                                                                            2021                         2020              Change
                                                                                (In thousands, unless otherwise noted)
    Mid-Tex / Affiliate transportation revenue                     $       127,323                   $ 125,261          $   2,062
    Third-party transportation revenue                                      30,625                      30,821               (196)
    Other revenue                                                            4,970                       3,631              1,339
    Total operating revenues                                               162,918                     159,713              3,205
    Total purchased gas cost                                                (3,411)                     (1,244)            (2,167)
    Operating expenses                                                      80,965                      71,671              9,294
    Operating income                                                        85,364                      89,286             (3,922)
    Other non-operating income                                               6,786                       5,237              1,549
    Interest charges                                                        11,303                      11,298                  5
    Income before income taxes                                              80,847                      83,225             (2,378)
    Income tax expense                                                      11,209                      19,239             (8,030)
    Net income                                                     $        69,638                   $  63,986          $   5,652
    Gross pipeline transportation volumes - MMcf                           181,468                     204,865            (23,397)
    Consolidated pipeline transportation volumes - MMcf                    136,067                     144,587             (8,520)
    Operating income for our pipeline and storage segment decreased four percent.
    During the three months ended December 31, 2021, we refunded $10.0 million in
    excess deferred taxes to pipeline and storage customers, which reduced operating
    income year over year and reduced the interim effective income tax rate for this
    segment to 13.9% compared to 23.1% in the prior year. Additional drivers for the
    change in operating income include:
    •a $14.5 million increase due to rate adjustments from the GRIP filing approved
    in May 2021. The increase in rates was driven by increased safety and
    reliability spending.
    Partially offset by:
    •a $5.8 million increase in system maintenance expense primarily due to spending
    on hydro testing.
    •a $2.5 million net decrease in APT's thru-system activities primarily
    associated with the tightening of regional spreads driven by increased competing
    takeaway capacity in the Permian Basin.
    •a $3.1 million increase in depreciation expense and property taxes associated
    with increased capital investments.
    Liquidity and Capital Resources
    The liquidity required to fund our working capital, capital expenditures and
    other cash needs is provided from a combination of internally generated cash
    flows and external debt and equity financing. Additionally, we have a $1.5
    billion commercial paper program and four committed revolving credit facilities
    with $2.5 billion in total availability from third-party lenders. The commercial
    paper program and credit facilities provide cost-effective, short-term financing
    until it can be replaced with a balance of long-term debt and equity financing
    that achieves the Company's desired capital structure with an
    equity-to-total-capitalization ratio between 50% and 60%, inclusive of long-term
    and short-term debt. Additionally, we have various uncommitted trade credit
    lines with our gas suppliers that we utilize to purchase natural gas on a
    monthly basis.
    We have a shelf registration statement on file with the Securities and Exchange
    Commission (SEC) that allows us to issue up to $5.0 billion in common stock
    and/or debt securities. As of the date of this report, $3.2 billion of
    securities were available for issuance under the shelf registration statement,
    which expires June 29, 2024.
    We also have an at-the-market (ATM) equity sales program that allows us to issue
    and sell shares of our common stock up to an aggregate offering price of $1.0
    billion (including shares of common stock that may be sold pursuant to forward
    sale agreements entered into in connection with the ATM equity sales program),
    which expires June 29, 2024. As of December 31, 2021, $499.7 million of equity
    was available for issuance under this ATM equity sales program. Additionally, as
    December 31, 2021, we had $294.7 million in proceeds from executed forward sale
    agreements available through June 30, 2023. Additional details are summarized in
    Note 7 to the unaudited condensed consolidated financial statements.
    The liquidity provided by these sources is expected to be sufficient to fund the
    Company's working capital needs and capital expenditure program for the
    remainder of fiscal year 2022. Additionally, we expect to continue to be able to
    obtain financing upon reasonable terms as necessary.
    The following table presents our capitalization inclusive of short-term debt and
    the current portion of long-term debt as of December 31, 2021, September 30,
    2021 and December 31, 2020:
                                                 December 31, 2021                              September 30, 2021                              December 

    31, 2020

                                                                                        (In thousands, except percentages)
    Short-term debt                   $               -                   -  %       $                -                   -  %       $               -                   -  %
    Long-term debt(1)                         7,956,554                49.0  %                7,330,657                48.1  %               5,125,033                41.5  %
    Shareholders' equity(2)                   8,289,545                51.0  %                7,906,889                51.9  %               7,213,156                58.5  %
    Total                             $      16,246,099               100.0  %       $       15,237,546               100.0  %       $      12,338,189               100.0  %
    (1)   Inclusive of our finance leases.
    (2)   Excluding the $2.2 billion of incremental financing issued to pay for the
    purchased gas costs incurred during Winter Storm Uri, our equity capitalization
    ratio was 59.0% at December 31, 2021 and 60.6% at September 30, 2021 .
    Cash Flows
    Our internally generated funds may change in the future due to a number of
    factors, some of which we cannot control. These factors include regulatory
    changes, the price for our services, demand for such products and services,
    margin requirements resulting from significant changes in commodity prices,
    operational risks and other factors.
    Cash flows from operating, investing and financing activities for the three
    months ended December 31, 2021 and 2020 are presented below.
                                                              Three Months Ended December 31
                                                           2021            2020           Change
                                                                      (In thousands)
    Total cash provided by (used in)
    Operating activities                               $    61,824      $ 157,069      $  (95,245)
    Investing activities                                  (679,748)      (453,592)       (226,156)
    Financing activities                                   765,206        733,314          31,892
    Change in cash and cash equivalents                    147,282        436,791        (289,509)
    Cash and cash equivalents at beginning of period       116,723         20,808          95,915
    Cash and cash equivalents at end of period         $   264,005      $ 457,599      $ (193,594)
    Cash flows from operating activities
    For the three months ended December 31, 2021, we generated cash flow from
    operating activities of $61.8 million compared with $157.1 million for the three
    months ended December 31, 2020. The $95.2 million decrease in operating cash
    flows reflects working capital changes, primarily due to the timing of gas cost
    recoveries under our purchase gas cost mechanisms partially offset by the
    positive effects of successful rate case outcomes achieved in fiscal 2021.
    Cash flows from investing activities
    Our capital expenditures are primarily used to improve the safety and
    reliability of our distribution and transmission system through pipeline
    replacement and system modernization and to enhance and expand our system to
    meet customer needs. Over the last three fiscal years, approximately 88 percent
    of our capital spending has been committed to improving the safety and
    reliability of our system.
    For the three months ended December 31, 2021, cash used for investing activities
    was $679.7 million compared to $453.6 million for the three months ended
    December 31, 2020. Capital spending increased $227.4 million, primarily as a
    result of timing of spending in our distribution and pipeline and storage
    Cash flows from financing activities
    For the three months ended December 31, 2021, our financing activities provided
    $765.2 million of cash compared with $733.3 million of cash provided by
    financing activities in the prior-year period.
    In the three months ended December 31, 2021, we received $851.7 million in net
    proceeds from the issuance of long-term debt and equity. We completed a public
    offering of $600 million of 2.85% senior notes due 2052 and received net
    proceeds from the offering, after the underwriting discount and offering
    expenses, of $589.8 million. Additionally, during the three months ended
    December 31, 2021, we settled 2,689,327 shares that had been sold on a forward
    basis for net proceeds of $261.9 million. The net proceeds were used primarily
    to support capital spending and for other general corporate purposes.
    Cash dividends increased due to an 8.8 percent increase in our dividend rate and
    an increase in shares outstanding.
    In the three months ended December 31, 2020, we received $808.3 million in net
    proceeds from the issuance of long-term debt and equity. The net proceeds were
    used primarily to support capital spending and for other general corporate
    purposes. Cash dividends increased due to an 8.7 percent increase in our
    dividend rate and an increase in shares outstanding.
    The following table summarizes our share issuances for the three months ended
    December 31, 2021 and 2020:
                                               Three Months Ended December 31
                                              2021                          2020
    Shares issued:
    Direct Stock Purchase Plan              20,983                          19,918
    1998 Long-Term Incentive Plan          275,212                         


    Retirement Savings Plan and Trust       19,805                          20,708
    Equity Issuance                      2,689,327                       2,085,492
    Total shares issued                  3,005,327                       2,270,484
    Credit Ratings
    Our credit ratings directly affect our ability to obtain short-term and
    long-term financing, in addition to the cost of such financing. In determining
    our credit ratings, the rating agencies consider a number of quantitative
    factors, including but not limited to, debt to total capitalization, operating
    cash flow relative to outstanding debt, operating cash flow coverage of interest
    and pension liabilities. In addition, the rating agencies consider qualitative
    factors such as consistency of our earnings over time, the quality of our
    management and business strategy, the risks associated with our businesses and
    the regulatory structures that govern our rates in the states where we operate.
    Our debt is rated by two rating agencies: Standard & Poor's Corporation (S&P)
    and Moody's Investors Service (Moody's). As of December 31, 2021, our outlook
    and current debt ratings, which are all considered investment grade are as
                                                           S&P              Moody's
                  Senior unsecured long-term debt           A-                A1
                  Short-term debt                          A-2                P-1
                  Outlook                                Negative          Negative
    A significant degradation in our operating performance or a significant
    reduction in our liquidity caused by more limited access to the private and
    public credit markets as a result of deteriorating global or national financial
    and credit conditions could trigger a negative change in our ratings outlook or
    even a reduction in our credit ratings by the two credit rating agencies. This
    would mean more limited access to the private and public credit markets and an
    increase in the costs of such borrowings.
    A credit rating is not a recommendation to buy, sell or hold securities. The
    highest investment grade credit rating is AAA for S&P and Aaa for Moody's. The
    lowest investment grade credit rating is BBB- for S&P and Baa3 for Moody's. Our
    credit ratings may be revised or withdrawn at any time by the rating agencies,
    and each rating should be evaluated independently of any other rating. There can
    be no assurance that a rating will remain in effect for any given period of time
    or that a rating will not be lowered, or withdrawn entirely, by a rating agency
    if, in its judgment, circumstances so warrant.
    Debt Covenants
    We were in compliance with all of our debt covenants as of December 31, 2021.
    Our debt covenants are described in greater detail in Note 6 to the unaudited
    condensed consolidated financial statements.
    Contractual Obligations and Commercial Commitments
    Except as noted in Note 10 to the unaudited condensed consolidated financial
    statements, there were no significant changes in our contractual obligations and
    commercial commitments during the three months ended December 31, 2021.
    Risk Management Activities
    In our distribution and pipeline and storage segments, we use a combination of
    physical storage, fixed physical contracts and fixed financial contracts to
    reduce our exposure to unusually large winter-period gas price increases.
    Additionally, we manage interest rate risk by periodically entering into
    financial instruments to effectively fix the Treasury yield component of the
    interest cost associated with anticipated financings.
    The following table shows the components of the change in fair value of our
    financial instruments for the three months ended December 31, 2021 and 2020:

    Three months completed the 31st of December

                                                                                   2021                2020
                                                                                        (In thousands)
    Fair value of contracts at beginning of period                             $  225,417          $  78,663
    Contracts realized/settled                                                     22,601              1,332
    Fair value of new contracts                                                     1,184                 87
    Other changes in value                                                       (129,284)            68,473
    Fair value of contracts at end of period                                      119,918            148,555
    Netting of cash collateral                                                          -                  -
    Cash collateral and fair value of contracts at period end                  

    $119,918 $148,555

    The fair value of our financial instruments at December 31, 2021 is presented below by period and by source of fair value:

                                                                    Fair Value 

    of contracts to December 31, 2021

                                                                        Maturity in Years
                                                   Less                                                  Greater              Fair
    Source of Fair Value                          Than 1               1-3               4-5              Than 5             Value
                                                                                   (In thousands)
    Prices actively quoted                    $    67,198          $ 60,088          $ (7,368)         $       -          $ 119,918
    Prices based on models and other
    valuation methods                                   -                 -                 -                  -                  -
    Total Fair Value                          $    67,198          $ 60,088          $ (7,368)         $       -          $ 119,918
    The following tables present certain operating statistics for our distribution
    and pipeline and storage segments for the three months ended December 31, 2021
    and 2020.
    Distribution Sales and Statistical Data
                                              Three Months Ended December 31
                                             2021                          2020
    METERS IN SERVICE, end of period
    Residential                         3,120,873                       3,077,786
    Commercial                            282,155                         281,840
    Industrial                              1,653                           1,673
    Public authority and other              8,248                           8,323
    Total meters                        3,412,929                       3,369,622
    INVENTORY STORAGE BALANCE - Bcf          70.5                            58.1
    SALES VOLUMES - MMcf (1)
    Gas sales volumes
    Residential                            37,834                          53,530
    Commercial                             23,008                          26,687
    Industrial                              7,073                           6,651
    Public authority and other              1,630                           1,993
    Total gas sales volumes                69,545                          88,861
    Transportation volumes                 40,315                          41,285
    Total throughput                      109,860                         130,146

    Pipeline and Storage Operations Sales and Statistical Data

                                                      Three Months Ended December 31
                                                      2021                        2020
    CUSTOMERS, end of period
    Industrial                                         95                            92
    Other                                             202                           217
    Total                                             297                           309
    INVENTORY STORAGE BALANCE - Bcf                   1.4                       


    PIPELINE TRANSPORTATION VOLUMES - MMcf (1)    181,468                       204,865
    Note to preceding tables:
    (1)Sales and transportation volumes reflect segment operations, including
    intercompany sales and transportation amounts.
    Recent accounting developments and their impact on our financial position,
    results of operations and cash flows are described in Note 2 to the unaudited
    condensed consolidated financial statements.

    ————————————————– ——————————

    © Edgar Online, source Previews

    ‘Obscene’: Activists warn oil and gas profits could bring misery to millions


    On Tuesday, oil giant BP said it made nearly £10 billion in profits last year.

    Environmental campaigners say there is clear evidence the UK’s energy system is fundamentally broken after an oil and gas giant announced ‘obscene’ profits amid the cost of living crisis in Great Britain.

    Tuesday BP said it made a profit of £9.5 billion ($12.8 billion) last yearwhich Friends of the Earth Scotland say would cost millions of people across the UK misery.

    Campaigners say the UK’s oil and gas energy system is ‘broken’ because the UK government has allowed it to be run in the interests of oil and gas companies, and it continually fails to meet people’s basic needs. have a warm home. .

    BP is the latest fossil fuel company to report billions in profits as rising wholesale gas prices drive up energy bills and push millions of households into fuel poverty. Estimates suggest there are now 15 million people in fuel poverty.

    Last week, Ofgem announced a 54% increase in the energy price cap, due to rising global gas prices.

    Meanwhile, the oil giant Shell announced $19.3bn (£14.5bn) in profits for 2021 and Exxon said it made $23bn (£16.9bn) in profits last year.

    Climate science has demonstrated that there should be no new oil and gas development in the world if we are to stay within the agreed limit of 1.5°C of dangerous temperature rise.

    Governments reaffirmed their commitment to this goal at the United Nations climate conference in Glasgow.

    Ryan Morrison, just transition campaigner with Friends of the Earth Scotland, said: “Once again we see these wealthy corporations reaping billions in profit from one of our most basic needs.

    “BP and other fossil fuel bosses are getting richer as energy prices push millions more homes into fuel poverty and force people to choose between heating and eating.

    “The UK’s energy system is fundamentally flawed and this is clear evidence that it is not working for people or the planet.

    “Oil company bosses are allowed to make obscene profits from the degraded climate and the gas price crisis against a backdrop of widespread devastation for people around the world.

    “Instead of allowing these companies to continue wreaking social and environmental havoc out of pocket, we need to overhaul our energy system to end our dependence on oil and gas. It’s time for a rapid increase in investment in renewable energy and energy efficiency while phasing out fossil fuel production to create affordable renewable energy for all.

    “A just transition will not be achieved while profit-obsessed fossil fuel companies call the shots.”

    BP has been approached for comment.

    EDF updates its estimate of French nuclear production in 2022

    February 7, 2022

    EDF updates its French nuclear 2022 outsidemake an estimate

    As part of its control program for the French nuclear fleet (see press release of January 13, 2022), EDF is revising its 2022 nuclear production estimate from 300 – 330 TWh to 295 – 315 TWh.

    The estimate of French nuclear production in 2023, currently 340 to 370 TWh, will be updated as soon as possible.

    This press release is certified. Its authenticity can be verified on medias.edf.com

    About EDF

    A major player in the energy transition, the EDF group is an integrated energy company present in all business lines: production, transport, distribution, energy trading, energy sales and energy services. The EDF group is a world leader in low-carbon energies, having developed a diversified production mix based mainly on nuclear and renewable energies (including hydraulics). It also invests in new technologies to support the energy transition. EDF’s raison d’être is to build a net-zero energy future with electricity and innovative solutions and services, to help save the planet and promote well-being and economic development. The Group participates in the supply of energy and services to approximately 37.9 million customers (1)including 28.7 million in France (2). It achieved consolidated revenue of 69.0 billion euros in 2020. EDF is listed on the Paris Stock Exchange.

    (1) Since 2018, customers have been counted by delivery site. A customer can have two delivery points: one for electricity and another for gas.
    (2) Including ÉS (Electricity of Strasbourg).

    Print this message only if absolutely necessary.

    EDF S.A.
    French public limited company
    With share capital of 1,619,338,374 euros
    Head office: 22-30, avenue de Wagram
    75382 Paris cedex 08
    552 081 317 RCS Paris



    Press: +33 (0) 1 40 42 46 37

    Analysts and Investors: +33 (0) 1 40 42 40 38

    • PR-EDF updates its estimate of French nuclear production 2022_certified

    PDC Energy, Inc. to Report Fiscal 2021 Earnings of $7.81 Per Share, Seaport Res Ptn (NASDAQ:PDCE) Forecast


    PDC Energy, Inc. (NASDAQ:PDCE) – Research analysts at Seaport Res Ptn cut their fiscal 2021 EPS estimates for PDC Energy shares in a research note released to investors on Wednesday, February 2. Seaport Res Ptn analyst N. Pope now expects the energy producer to post earnings per share of $7.81 for the year, down from its previous estimate of $8.05. Seaport Res Ptn also released estimates for PDC Energy Q4 2021 earnings at $2.40 EPS, Q1 2022 earnings at $3.35 EPS, Q2 2022 earnings at $3.28 EPS, earnings Q3 2022 earnings at $3.17 EPS, Q4 2022 earnings at $3.14 EPS and fiscal year 2022 earnings at $12.93 EPS. PDC Energy (NASDAQ:PDCE) last released its quarterly earnings data on Wednesday, November 3. The energy producer reported earnings per share (EPS) of $2.33 for the quarter, beating Thomson Reuters consensus estimate of $1.45 by $0.88. The company posted revenue of $704.04 million for the quarter, versus a consensus estimate of $565.58 million. PDC Energy had a return on equity of 25.49% and a net margin of 3.33%. In the same period a year earlier, the company had earned earnings per share of $1.04.

    A number of other research companies have also published reports on PDCE. KeyCorp raised its target price on PDC Energy from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday. TD Securities raised its target price on PDC Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a Thursday, Nov. 4, report. Zacks Investment Research has upgraded PDC Energy from a “strong buy” rating to a “hold” rating and has set a price target of $55.00 for the stock. in a research report on Tuesday, January 4. Johnson Rice upgraded PDC Energy from a “buy” rating to an “accumulation” rating in a Thursday, October 28 research report. Finally, Truist Financial raised its price target on PDC Energy from $72.00 to $75.00 and gave the company a “buy” rating in a Friday, January 14 research report. One equity research analyst gave the stock a hold rating and seven gave the company’s stock a buy rating. Based on data from MarketBeat.com, PDC Energy has a consensus rating of “Buy” and a consensus target price of $65.17.

    (A d)

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    NASDAQ:PDCE shares opened at $61.44 on Monday. The company has a market capitalization of $5.98 billion, a PE ratio of 149.85 and a beta of 3.17. The company has a debt ratio of 0.49, a current ratio of 0.46 and a quick ratio of 0.46. The company has a 50-day moving average of $52.96 and a two-hundred-day moving average of $48.70. PDC Energy has a 12-month low of $24.85 and a 12-month high of $63.42.

    The company also recently declared a quarterly dividend, which was paid on Wednesday, December 29. Shareholders of record on Friday, December 17 received a dividend of $0.12. This represents an annualized dividend of $0.48 and a yield of 0.78%. The ex-dividend date was Thursday, December 16. PDC Energy’s dividend payout ratio (DPR) is currently 117.07%.

    In other PDC Energy news, CEO Barton R. Brookman, Jr. sold 2,000 shares in a trade on Wednesday, Dec. 1. The shares were sold at an average price of $49.94, for a total transaction of $99,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, CFO R Scott Meyers sold 1,000 shares of the company in a trade dated Tuesday, February 1. The stock was sold at an average price of $58.84, for a total transaction of $58,840.00. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 28,959 shares of the company worth $1,544,984. 0.97% of the shares are held by insiders.

    Major investors have recently increased or reduced their stakes in the company. Quadrant Capital Group LLC increased its equity stake in PDC Energy by 55.8% during the 4th quarter. Quadrant Capital Group LLC now owns 511 shares of the energy producer valued at $25,000 after acquiring 183 additional shares in the last quarter. Moors & Cabot Inc. bought a new position in PDC Energy during the third quarter worth $26,000. O Shaughnessy Asset Management LLC increased its stake in PDC Energy shares by 258.8% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,019 shares of the energy producer valued at $48,000 after purchasing an additional 735 shares during the period. The Healthcare of Ontario Pension Plan Trust Fund increased its stake in PDC Energy shares by 282.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,673 shares of the energy producer valued at $77,000 after purchasing 1,235 additional shares during the period. Finally, Gradient Investments LLC increased its stake in PDC Energy shares by 12.4% during the fourth quarter. Gradient Investments LLC now owns 2,478 shares of the energy producer valued at $121,000 after purchasing an additional 274 shares during the period.

    PDC Energy Company Profile

    PDC Energy, Inc engages in the exploration and production of oil and natural gas. The company acquires, explores and develops properties for the production of crude oil, natural gas and natural gas liquids. Its main operations are located in the Wattenberg field in Colorado and the Delaware Basin in Texas.

    Featured articles

    Earnings history and estimates for PDC Energy (NASDAQ:PDCE)

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

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    Global Deep Cycle Battery Market 2021 Industry Outlook and Key Players are East Penn Manufacturing, EnerSys, Exide Technologies, GS Yuasa


    MarketsandResearch.biz presented a report on the Global deep cycle battery market from 2021 to 2027, including components that help drive the overall deep cycle battery market forward. The report contains market drivers and market challenges that influence the market in a general sense. The report is assembled for the period from 2021 to 2027, considering 2020 as the reference year. The report offers a CAGR at the guessed time period. Reports help business specialists and decision makers to make decisions and working systems.

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    The report covers recognizable market players and creators. The report contains the progress made by the players, the philosophies and events used by them, as well as their financial situation. The fundamental members mentioned in the market report are:

    • East Penn Manufacturing
    • EnerSys
    • Exide Technologies
    • GS Yuasa
    • Johnson Controls
    • C&D technologies
    • Crown Battery
    • DMS Technologies
    • never exceeded
    • Exide Industries
    • HBL Power Systems
    • Microtex Energy
    • MIDAC batteries
    • Navitas system
    • Battery Rolls
    • Storage battery systems
    • Su-Kam fuel systems
    • Trojan Battery
    • Western Navy
    • Yokohama trade

    The regional hub relies on the key geographic areas of the market, including

    • North America (United States, Canada and Mexico)
    • Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
    • Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
    • South America (Brazil, Argentina, Colombia and rest of South America)
    • Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa and Rest of Middle East and Africa)

    The type segment in the report is:

    • VRLA batteries
    • FLA batteries

    The application segment in the report is:

    • Solar system
    • wind power system
    • golf cart
    • Electric wheelchair

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    Resources must be shared | Opinion columns


    Rep. Klicker’s House bill of 1871 to limit new or expanded alternative energy projects is shortsighted for at least three reasons.

    First, and most importantly, any attempt to limit clean energy adds to the effects of global climate change, including harsher weather, more wildfires, higher sea levels, more acidic oceans, and death. direct and indirect millions of people. Therefore, in addition to energy conservation, we need more clean energy of all types in as many places as possible. Klicker mentioned the possibility of wind turbines in Elliott Bay. Indeed, wind farms should be considered in Puget Sound, the Strait of Juan de Fuca and off Washington. We are far behind many other developed countries. For example, the United States has seven offshore wind turbines; Europe has more than 5400.

    Second, resources are not distributed equitably. If eastern Washington has additional wind power, we should sell it to western Washington. If Washington has a surplus of electricity from dams, we should transmit the electricity to California.

    Suppose Canada doesn’t want to bring water down the Columbia River to the arid east of Washington? What if Western Washington lumber owners didn’t want to send lumber for construction in the treeless Tri-Cities?

    Resources must be developed economically and ecologically where they are, and then distributed equitably.

    Third, I don’t think Klicker takes into account the economic benefits of wind farms for rural landowners in eastern Washington. He argues that land use patterns are permanently affected to provide carbon-free energy to the state’s most populous counties. Is it a problem? Wheat is grown just under the wind turbines; cattle graze in the shade of wind turbines; farmers and ranchers benefit from payments from wind energy companies. He rightly states that wind and solar projects have a different impact on communities than fossil fuel power plants: those who live near coal-fired power plants and oil refineries suffer from horrible air pollution. and unhealthy.

    Kudos to the people of Puget Lowland for their huge appetite for clean energy. So are many people on the east side of the Cascades, with solar panels on their roofs and wind power support through Blue Skies programs. If Rep. Klicker wants to propose meaningful energy legislation, I suggest requiring consideration of photovoltaics and solar hot water for all new construction.

    The Union-Bulletin points out that the Horse Heaven Hills wind farm project would have an estimated economic output of $70.6 million, including 458 jobs, plus millions of dollars in school-related property taxes.

    Eastern Washington stands to benefit from this wind farm project. Our region is blessed with some abundant natural resources: lots of sunshine, large rivers, strong winds and good soils. We need to share resources, especially to reduce the effects of global climate change.

    Bob Carson’s upbringing in Rockbridge County, Virginia led him to a life of geology, mountaineering and whitewater. He taught geology and environmental studies at Whitman College for 40 years, and now teaches for Quest at WWCC. His books include “Hiking Guide to Washington’s Geology”, “Where the Great River Bends”, “East of Yellowstone”, “Many Waters”, and “The Blues”.

    Energy Retrofit Systems Market 2022 Growing Demand, Top Trends with Major Key Players – Orion Energy Systems, Trane, Daikin, Philips Lighting, Johnson Controls, AECOM Energy, etc. – Cleveland Sports Zone


    The report’s in-depth research offers insights into the global Energy Retrofit Systems market’s development potential, upcoming trends, and statistics. It also shows the variables influencing the overall market size forecast. According to the report, it provides the current technology trends of the global energy retrofit systems market and industry insights to help decision makers make informed strategic decisions. Further, the market study examines the growth drivers, restraints, and competitive dynamics of the market. The market study on energy retrofit systems also identified the main suppliers and distributors operating in each of the main geographical areas. These statistics and research are expected to help players in the Energy Retrofit Systems market to expand their geographical reach and improve their distribution channels in the market.

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    Key Players of Global Energy Retrofit Systems Market:

    Orion Energy Systems
    Philips lighting
    Johnson Controls
    AECOM Energy
    Siemens Building Technologies
    Energy renovation
    Chevron Energy Solutions
    E.ON Energy Services

    Additionally, the Energy Retrofit Systems Market report is based on current comprehensive research investigation. The report is reviewed using primary and secondary research techniques. Thus, primary research may include the development of databases on regional and global markets for energy retrofit systems, supplemented by interviews with key personnel from top companies around the world. This is complemented with an in-depth examination of regional and global regulations, changing buying habits, general economic projections, technological advancements, and environmental implications of the global Energy Retrofit Systems market.

    The energy retrofit systems industry type includes:

    HVAC and controls
    Insulation and Glazing
    Lighting and controls
    Water heating

    Energy retrofit system industry applications include:


    This research study offers Energy Retrofit Systems market share based on current and projected industry growth. Classifications such as nations, market segments, and product types are also highlighted in the search. This Energy Retrofit Systems Market study offers a comprehensive review of the global major players in the industry, from top to bottom. Tables, graphs and statistics are provided with the segmentation. The forecasters have analyzed the Energy Retrofits Systems report to better understand the market trends among other critical aspects.

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    Global Private Equity – Industry Spotlight: Private Equity and Private Wealth: Will 2022 be the year they dive upstream?


    Global Private Equity – Industry Spotlight

    With traditional lenders heavily influenced by public opinion and political influence, restrictions on their lending to the hydrocarbon industry are likely to persist. So, where will the financing of the essential investments in this sector come from?

    As the temperature of climate change rises after COP 26 and calls to definance the hydrocarbon industry grow louder, it seems many financial institutions have been paying attention, and reports indicate that in recent years the Upstream oil and gas industry funding has fallen by hundreds of billions of dollars a year. Many commercial lenders, export credit agencies (ECAs) and multilateral agencies (MLAs) have said they will no longer finance oil projects, previously announced a halt to coal funding.

    Rystad recently reported that oil demand now exceeds 99 million barrels of oil per day (bopd), which is higher than pre-Covid demand and is expected to exceed 100 million barrels per day in 2022 as economies recover from Covid restrictions . Likewise, the demand for gas and liquefied natural gas (LNG) has increased sharply to reach 360 million tonnes per annum (MTPA). Both Rys tad and Woodmac have done extensive modeling of the effect on oil demand under likely energy transition scenarios, and both conclude that even with massive growth in renewable energy and the adoption of electric cars, oil demand will remain above 70 million barrels per day and LNG demand will reach 725 MTPA by 2040. Rystad also concluded that at at least 1,000 new oilfields, averaging 150 million barrels of recoverable reserves, need to be discovered and developed over the next 10 years to meet projected oil demand, even under an aggressive decarbonization transition scenario .

    But, as we are currently experiencing, this reduction in financing, coupled with a growing demand for oil and gas, is having consequences: investments in production have dropped dramatically and many new fields are waiting for financing to be developed. As a result, supply is struggling to match demand and there has been a dramatic increase in oil and gas and LNG prices, with Brent oil hitting recent highs of US$85 per barrel (bbl), LNG and gas trading at all-time highs Japan Korea Marker at over $40 per million metric British thermal unit (MMBtu), title transfer facility at over $31.6 per MMBtu for January delivery , and even Henry Hub dropping to $4.52/MMBtu, roughly double the December 2020 price.

    Without additional financing and investment upstream, these prices are at high risk of being exceeded, bringing with them the corresponding global economic shocks that high oil prices always cause and the resulting energy poverty for the most vulnerable people in developed economies. and emerging.

    A potential new source of funding will be private equity (PE) and infrastructure funds, wealth management/private wealth (PW) funds and perhaps some sovereign wealth funds. Many of these funds are interested in the energy sector, but see the renewables market as too hot, with returns often falling into the low numbers, so they can focus on the industry again in upstream, much more profitable.

    Oil companies seeking to monetize investments in hydrocarbons must therefore take into account the typical investment needs of PE/PW and the issues that have previously limited investment in the sector.


    First and foremost, PE and PW appreciate a strong management team with a proven track record from past oil companies.

    Specialized skills

    While rising oil prices can yield dramatic returns, it is not the primary investment model. PE/PW are looking for a team that can bring a skill set that will generate strong returns even if oil prices do not rise. For example, business models that have recently attracted private equity investment include expertise in end-of-life field management that maximizes recovery, reduces opex, extends field life and, therefore, delays abandonment responsibility and expertise in a particular regional geology that provides greater exploration success for infrastructure-led infrastructure. exploration.

    Current or short-term production

    PE/PWs generally favor assets with a clear future production profile, although the value of near-term development assets is increasingly recognized, particularly as part of a portfolio. However, few private equity houses have either the ability to value or the propensity to invest in deep exploration, so a heavily weighted exploration opportunity is unlikely to be attractive.

    A targeted net-zero approach can help attract funding.

    Transaction size

    Much depends on the PE/PW fund that is looking to invest. Large private equity houses often seek fewer but larger investments in portfolios with at least 75,000 barrels of oil equivalent per day of production; China Investment Corporation, Carlyle and CVC Capital Partners’ investment in Neptune, and EIG’s investment in Chrysaor are good examples. PW funds and some of the smaller private equity funds will often look at single assets with production below a thousand barrels.

    Carbon Neutral Plan

    Increasingly, PE/PW are looking for investments that have a plan to manage future emissions. Private equity funds, in particular, are under pressure from many of their investors to become greener and play an active role in the energy transition, so a targeted net-zero approach can help attract funding.

    Potential returns

    Last but not least! PE/PW investors always have high rates of return. They will need a clear understanding of how baseline returns can be achieved and must see the potential for greater upside in any investment proposal.


    When trying to present an attractive investment opportunity, oil companies should keep in mind the issues that PE and PW have faced in the past.

    Get burned on past investments

    The American shale is a good example. Although shale has been incredibly successful from a production perspective, not all investors have seen great returns. The oil crashes of 2014 and 2018, which led to a number of Chapter 11 bankruptcies in the shale sector, caused significant losses for many US private equity groups and, although the sector is still attracting ‘interest in the United States, investors are now more cautious. .

    Output options

    In the past, it was relatively simple to set up a private oil company and then go through a private sale or initial public offering (IPO) to get the private equity fund out of the investment. However, there are now concerns that with the upstream sector becoming less popular with investors, it will become increasingly difficult to exit an investment, at least via an IPO.

    Costly investment requirements to meet new net zero targets

    Net Zero Goals While many integrated oil companies (IOCs) are shedding hydrocarbon assets that are attractive from a yield standpoint due to the desire to be net zero, IOCs are often shedding a large many of their older, higher-carbon-cost assets that engage in costly retrofits to meet their new net-zero goals (see International news, issue 2, 2021). While these assets meet some of the needs of PE/PW investors, as noted above, they do not meet the carbon neutral requirement, which is likely to reduce their value.

    Private equity and private management value a strong management team.

    Special Purpose Acquisition Companies

    Another potential source of funding for upstream assets may be through special purpose acquisition companies (SPACs), which could also help provide exit options for existing and future PE/PW investors.

    SPACS have grown in number in the US and overseas, and the UK’s new SPAC regulations bring its SPAC regime largely in line with that of the US, meaning there is relatively little arbitrage. legal or regulatory in this space between the two markets. London’s long-standing role as a hub for cross-border oil and gas investment and fundraising also means that sponsors may find that upstream asset valuations in this market are closer to their expectations. , provided the investability issues across the sector can be resolved.

    Fluence Energy Inc (NASDAQ:FLNC) Receives Average “Buy” Rating from Analysts


    Shares of Fluence Energy Inc Inc (NASDAQ: FLNC) earned an average rating of “Buy” from the sixteen analysts who cover the stock, MarketBeat.com reports. Three analysts gave the stock a hold rating and twelve gave the company a buy rating. The 12-month average price target among brokerages that have covered the stock over the past year is $45.50.

    Several equity analysts have recently weighed in on FLNC shares. Credit Suisse Group began covering Fluence Energy in a research report on Monday, November 22. They set an “outperform” rating and a price target of $50.00 for the company. Evercore ISI began covering Fluence Energy in a research report on Monday, November 22. They set an “outperform” rating and a price target of $47.00 for the company. UBS Group began covering Fluence Energy in a research report on Monday, November 22. They set a “buy” rating and a price target of $47.00 for the company. Robert W. Baird kicked off Fluence Energy coverage in a research report on Tuesday, December 7. They set an “outperform” rating and a price target of $44.00 for the company. Finally, Seaport Res Ptn reiterated a “buy” rating on Fluence Energy shares in a Tuesday, November 23 research note.

    Shares of NASDAQ:FLNC opened at $15.47 on Friday. Fluence Energy has a fifty-two week low of $15.23 and a fifty-two week high of $39.40. The company has a 50-day moving average of $28.28.

    Fluence Energy Inc (NASDAQ:FLNC) last reported quarterly results on Tuesday, December 7. The company reported ($0.13) earnings per share for the quarter, beating analyst consensus estimates of ($0.24) by $0.11. The company posted revenue of $163.70 million in the quarter, compared to analyst estimates of $184.60 million. The company’s quarterly revenue fell 27.1% from the same quarter last year. Sell-side analysts expect Fluence Energy to post -0.82 EPS for the current fiscal year.

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    Hedge funds have recently increased or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new position in shares of Fluence Energy in Q4 worth approximately $351,000. The New York State Common Retirement Fund acquired a new position in shares of Fluence Energy in Q4 for a value of approximately $1,355,000. Fifth Third Bancorp acquired a new position in shares of Fluence Energy in the 4th quarter for a value of approximately $356,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Fluence Energy in Q4 worth approximately $9,949,000. Finally, Canal Insurance CO acquired a new position in shares of Fluence Energy in the 4th quarter with a value of approximately $1,067,000.

    About Fluence Energy

    Fluence Energy Inc is a provider of energy storage products and services and digital applications for renewable energy and storage. Fluence Energy Inc is based in ARLINGTON, Virginia.

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    Analyst Recommendations for Fluence Energy (NASDAQ: FLNC)

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

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    Cambridge Associates leases 115,000 square feet to relocate its global headquarters to Boston’s Winthrop Center in spring 2023

    Winthrop Center (Photo: MP Boston)

    BOSTON- Congressman from Bostonthe local branch of the internationally renowned developer Millennium Partnersannounced that the global investment company Cambridge Associates will move its global headquarters to Boston Winthrop Center in the spring of 2023.

    Cambridge Associates employees will occupy 115,000 square feet of the 691-foot mixed-use tower, where the office portion will contribute significantly to Boston’s ambitious long-term carbon reduction goals by being built to design standards rigorous for passive houses.

    Uniquely integrating health and wellness, sustainability and technology, Winthrop Center will offer 812,000 square feet of world class A office space and 510,000 square feet of residential space, including 321 luxury residences at the downtown boston. The development takes Passive House to new heights, artfully assembling complex and diverse functions into a legacy building. Winthrop Center was conceptualized in 2017 by MP Boston as an inspirational work environment that would set a new global standard for building performance and energy conservation. The MP Boston team sought out experts at the Passive House Institute in Darmstadt, Germany, where their proposal was met with skepticism – it was the first time a developer had sought to apply the Passive House approach to a building in this size, scale and type . With perseverance, determination and many trips back and forth to Darmstadt, MP Boston persuaded the Passive House Institute that its ambitious goal could be achieved.

    Today, Winthrop Center is on track to become the largest office building in the world to achieve Passive House certification. As a result, Winthrop Center will use 150% less energy than an average office building in Boston and 60% less energy than existing LEED Platinum buildings in Boston. Incorporating a well-insulated building facade, an airtight exterior envelope and an advanced energy recovery ventilation system, the Passive House office building eliminates heating and cooling inefficiencies and represents a major step forward in the fighting climate change through the built environment.

    Designed by Handel Architects, the office space models the most energy-efficient solution for large-scale buildings and is well positioned to exceed the requirements of Boston’s recently adopted building performance standard, BERDO 2.0. The Winthrop Center office space also provides a healthier and more comfortable environment for occupants, increasing productivity and employees’ sense of well-being by providing 30-50% more fresh air than office buildings. existing.

    “Since the founding of the Winthrop Center, it was important for us to find partners, like Cambridge Associates, who support our goal of providing a healthy, energy-efficient building that provides a solution to climate change,” said the founder of Millennium. Partners, Christopher M. Jeffries. “The City of Boston is planting the seeds for climate change mitigation in the United States, and the Winthrop Center is leading the way. We hope this project will raise awareness of the world’s most pressing issues and inspire the development community as a whole to reinvent the way buildings are designed and constructed.

    For nearly 20 years, Cambridge Associates has used a wide range of sustainable and impactful investment strategies to profitably finance long-term, market-driven solutions to environmental and social challenges. In partnership with industry peers, the company recently launched the Net Zero Investment Consultants initiative, which is committed to integrating emission reduction advice into investment strategies and setting emission reduction targets in all of its own operations. Cambridge Associates has set itself the goal of helping its customers achieve a 50% reduction in emissions by 2030. The company also received carbon neutral accreditation and certification to PAS 2060 specifications earlier this year. year. Winthrop Center reflects the company’s values ​​and mission through its Passive House design, which as a building standard sets the stage for a low-carbon future.

    “One of the most important considerations for us when choosing the Winthrop Center was the property’s bold commitment to sustainability,” said David Druley, president and CEO of Cambridge Associates. “While our work in the area of ​​sustainable and impact investing is appreciated by a large proportion of our clients, it is essential that our commitment to sustainable development is manifested beyond investment portfolios and also in the walls of our business.We will be able to meet our own significant commitments to sustainability and lower carbon emissions through the Winthrop Center’s approach to responsible, resourceful and renewable office space.

    Through a partnership with MIT professors led by John Fernandez, director of MIT’s Environmental Solutions Initiative, the project will meet the growing demands of employers and employees for healthy, energy-efficient buildings that provide better quality of life. air, flexibility and comfort, and spaces that foster collaboration and creativity. Not only does Winthrop Center create healthy indoor air quality and a constant supply of fresh air through passive house design, it also improves social health with a distinctive and inclusive ground floor space called ” The Connector”, where office workers, residents, and the general public can interact and enjoy cultural programming. Offering greater access to natural light and the outdoors, as well as amenities designed to help office workers decompress and avoid digital overload, Winthrop Center delivers psychological and physiological benefits to the workforce. ‘today. In addition to the air quality it improves, the energy consumption it reduces, and the social and environmental improvements it brings, the building will create a striking new visual pinnacle in the heart of Boston and on the skyline of the city.

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    Job: Operations Manager at Deep Blue Energy Services Limited


    Site: Lagos Island, Nigeria
    Job Category: Oil and Gas
    Job type: Full time
    Shift: day
    Duration: 4 weeks
    Job Status: Sourcing


    • The role is responsible for the day-to-day management of the operations unit and ensuring the operational efficiency of the supply chain value chain from start to finish.
    • The unit will be structured as end-to-end operational activities that will support all activities within the Group.

    Main responsibilities

    • Develop/maintain the company’s corporate strategy with a view to ensuring its continued profitability and continued growth in addition to its ability to consistently deliver value to all of its stakeholders.
    • Support the GMD and other members to align and execute the corporate level vision and strategic plan, including those for business growth, financial management and operational efficiency.
    • Build/maintain a high performing team with a deep understanding and appreciation of industry dynamics and key drivers, business impact of changes in key government policies, emerging opportunities and global industry trends.
    • Acts as a lead advisor and strategist providing necessary support to the GMD, general staff and corporate board, in identifying business and operational risks and resolving related issues .
    • Provides management oversight for the development of high quality, cost effective and integrated financial management, marketing, sales, supply chain and operational management programs.
    • Expands outreach and referral networks to ensure effective technical/operational partnerships and alliances are forged which will facilitate business growth
    • Develop the tactics, policies and processes necessary to ensure that the business operates optimally, capturing value from its business environment and retaining it for its shareholders while operating within a well-defined environmental framework, health, safety, security and quality that is consistent with Group policy
    • Ensure the effective integration of corporate and functional business plans with day-to-day operations and, in doing so, interact regularly with individual operating entities within the Group to identify areas of mutual collaboration towards the achievement of the objectives of the Group.
    • Develop and foster effective collaboration between different functional areas/departments within the business and between staff members to ensure an integrated approach to delivering high quality products and services to customers, thereby fulfilling the key objective of the company to achieve excellence in all its activities. activities and allowing the goals and objectives set by the Group to be achieved over time.
    • Work with the Finance function and other functional HODs as required, liaising with the investment community and financial services organizations to ensure adequate funding for regular business transactions and large-scale projects.
    • Take overall responsibility for the development of comprehensive financial management, marketing, sales and supply chain management strategies; work with functional leaders to develop effective business plans, support budgets and resource deployment and management programs to enable business operations.
    • Monitors performance indices and company budgets to ensure targeted revenue and expense profiles are maintained at all times; triggers triggers when necessary to ensure the business is always on track to achieve set goals; coordinates periodic business performance monitoring and reporting activities of the various functional areas supervised.
    • Ensures smooth and efficient operations around the distribution and delivery of products to customers, including customer service and management of all resources and assets associated with day-to-day operations.
    • Ensure that prompt responses are prepared to requests from regulatory authorities regarding all aspects of operations, eg environment, health, safety, security and quality.
    • Works through the company’s leadership and management team to help reduce costs, increase revenue, and achieve efficient asset utilization, product quality, and throughput goals and objectives.
    • When applicable/assigned, represent the company to the external market and public through strategic and effective communications, marketing and public relations efforts.
    • Makes decisions and acts in the absence of the GMD on matters related to company operations; performs other assigned duties.
    • Ad hoc tasks as advised by the company.

    QMS, EMS & QH & SMS Responsibilities:

    • Ensure the integration of OHSMS and EMS requirements into the department’s processes
    • Ensure effective management of environmental aspects, risks and opportunities and implementation of improvement programs
    • Ensure that the environmental and occupational health and safety management systems achieve the expected results within the department.


    • A university degree
    • An MBA would be a plus
    • Minimum of fifteen (15) years of related experience in oil and gas drilling operations, construction and the financial industry
    • Business management experience in a range of business disciplines.
    • Agile to engage in action based on logical assumptions and factual information (using analytical tools), taking into account resources, constraints, etc.
    • Possesses leadership and management abilities to oversee the Organization
    • Has a passion for helping team members and customers
    • Able to see the big picture and plan the details
    • Direct communication
    • Attention to detail
    • Reliable, respects its commitments
    • Strong process and planning orientation
    • Goal-oriented, task-oriented
    • Designs efficient systems, seeks productivity
    • Ability to delegate to the right team members.

    Favorite Skills:

    • Exposure to oil and gas drilling, government and external agencies
    • Business strategy development and execution skills
    • Direction
    • Construction Industry Dynamics
    • Business management experience in a range of business disciplines; Marketing, Sales, Supply Chain Management, Corporate Strategy, Finance and Investment Management
    • Oral and written communication.


    • Gender: Doesn’t matter
    • Age: 25 years old 55 years old
    • Highest Education: University of Minimum Education
    • Degree Title: Masters in Business Administration
    • Experience: Minimum experience of 15 years
    • Other Experience: Minimum of fifteen (15) years of related experience in oil and gas drilling operations, construction and the financial industry.
    • Career level: Experienced (Non Manager).

    Click here to apply

    Analysis: Asset owners are jostling passive funds to go green

    • ESG ETFs now account for 18% of assets traded on Xetra
    • More asset owners are pledging to help achieve net zero
    • ESG passive boom can mean more exclusion, less engagement

    LONDON, Feb 3 (Reuters) – When the local authority pension fund in East Sussex, southern England, wanted to reduce its exposure to fossil fuels, it had to make sure it there were no oil and gas stocks in the benchmarks tracked by its passive funds.

    For example, the program recently swapped 200 million pounds ($271 million) from a passive fund that tracked a traditional stock market index to one that excludes oil, gas and coal companies.

    That has helped it reduce its exposure to fossil fuels to less than 2% of assets today – down from 6% in 2016 – said Gerard Fox, chairman of the pension fund committee for the $4.6bn scheme. pounds, which has 78,000 mostly local governments. members.

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    “Probably the biggest fiduciary risk for the energy transition portfolio is unwitting exposure to distressed companies and sectors through passive funds,” Fox told Reuters.

    The East Sussex pension fund is one of many asset owners shifting their passive holdings to investment-tracking indices that promise to incorporate environmental, social and governance (ESG) factors, for example excluding certain industries and businesses – as part of a global campaign to reach net zero emissions.

    For years, the way to do this was to put more money into ESG-aligned, actively managed funds, where managers promise selective equity investments to beat index performance.

    More recently, there has been a surge in the number of ESG-focused investment tracking indices, including through exchange-traded funds (ETFs).

    Crucially, it will likely mean that more investors will sell companies that don’t make the cut for their ESG indices, potentially reducing their power to engage with companies to push them to become greener in their operations.

    In 2021, the share of all ETF assets held in products with an ESG label jumped to 18%, from 10% in 2020, according to data from Deutsche Borse. In 2017, the share was less than 1%.

    Reuters Charts

    Investors have invested record amounts in ESG ETFs, and asset managers have also converted their traditional funds into ESG-friendly products by changing the index they track.

    The trend is particularly pronounced in Europe – Amundi (AMUN.PA), Europe’s largest asset manager, said 95% of all net inflows into its ETF range last year went to funds ESG.

    Overall, more than half of market-wide net flows into European-domiciled equity ETFs went to ESG-labeled funds, while two-thirds of new ETF launches were ESG-labelled. according to data from State Street Global Advisors.

    Manuela Sperandeo, head of sustainable indexing for Europe, the Middle East and Africa at BlackRock (BLK.N), the world’s largest asset manager, said a better understanding of index track records , “better data availability around net zero, as well as sustainability ‘regulatory impulse’ would accelerate the trend in 2022.

    BlackRock has been working with a growing number of asset owners to move their passive holdings to ESG-aligned benchmarks, she said, citing agreements with Oxford University and ongoing discussions with several Nordic and Dutch asset owners on the move to a climate benchmark.

    While the bulk of ESG change is in equities, where benchmarks have a longer track record, Sperandeo said investors will increasingly look to do the same for fixed income and other parts of the world. their portfolio.


    Passive investing has transformed markets as investors – preferring shadow indices to stock picking – pour money into lower-cost funds run by industry giants including BlackRock and Vanguard. Index funds now control about half of the US mutual fund market.

    The growth of passive ESG funds is important because it will mean widespread selling off of companies that don’t make a difference to new benchmarks, such as companies excluded from the East Sussex Pension Fund’s ex-fossil fuel strategy run by Osmosis InvestmentManagement.

    As near-permanent holders of a company’s stock, passive managers use their power to engage with ESG laggards, so any dilution of their holdings could hamper that ability, leaving active managers concerned about sustainability. take over.

    “Once you have excluded a company, you no longer have leverage,” said Matthieu Guignard, global head of product development and capital markets at Amundi ETF, Indexing & Smart Beta.

    Guignard said “tilting” index weightings away from laggards was one way to address this issue, as investors could still lobby corporate boards for greater climate action.

    “Some investors really want to stay invested, they want to stay Universal Owners and drive change through engagement efforts, down to others who really want to divest very quickly right now. That’s the European lens,” said BlackRock’s Sperandeo.

    For East Sussex, fossil fuel companies are unlikely to find their way back into passive portfolios unless they go green themselves.

    But Fox said the program does not believe in “global divestment of the entire portfolio,” and that exposure to fossil fuels should be limited to active managers who engage with companies.

    ($1 = 0.7377 pounds)

    Join now for FREE unlimited access to Reuters.com


    Reporting by Tommy Wilkes and Simon Jessop; Editing by Sujata Rao and Emelia Sithole-Matarise

    Our standards: The Thomson Reuters Trust Principles.

    Republicans grill Fed nominee Raskin on past views on climate and big energy companies


    Sarah Bloom Raskin, appointed Vice Chairman for Oversight and a member of the Federal Reserve Board of Governors, gestures during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C. DC, USA, February 3, 2022.

    Ken Cedeno | Reuters

    On Thursday, Senate Republicans peppered the nominee to be the Federal Reserve’s top banking watchdog with questions about whether she would lead the institution on climate change and other areas outside of her mandate.

    President Joe Biden has appointed Sarah Bloom Raskin as Vice President of Banking Supervision, arguably the industry’s most important regulator.

    Although Raskin insisted that her previous writings that cast fossil fuels in an unfavorable light would not lead her to put the Fed “in the business of picking winners and losers,” members of the GOP’s Senate banking panel were unconvinced.

    “As for Mrs. Raskin, I must say that this is one of the most remarkable cases of confirmation conversion that I have ever seen, although she does not recognize the contradiction of what she said. today versus what she has said and written for years,” said Republican Sen. Patrick Toomey of Pennsylvania.

    Toomey specifically pointed to comments written by Raskin that talked about allocating capital to fossil fuel companies. In a May 2020 article for the New York Times titled “Why is the Fed spending so much money on a dying industry?” Raskin discouraged the central bank from using its emergency lending powers deployed at the start of the Covid-19 pandemic to help big energy companies.

    “Climate change threatens financial stability; dealing with it can create economic opportunity and more jobs,” Rasking wrote at the time. “Decisions the Fed makes on our behalf should contribute to a stronger economy with more jobs in innovative industries – not prop up and enrich those who die.”

    When repeatedly asked if her writings meant she would push banks not to lend money to fossil fuel companies, Raskin said that was outside the Fed’s purview.

    Fed officials said they were working with banks to update their planning to include the financial impacts of climate-related events. There are currently no plans to include these provisions in the stress tests of large institutions.

    “It’s not the role of the Federal Reserve to commit to favoring one sector,” Raskin said. “I say I consider it to be outside the bounds of the law. The Federal Reserve was created by Congress and with particular mandates, and as a lawyer, I live within those mandates.”

    The hearing was also held to question economists Lisa Cook and Philip Jefferson, whom Biden has also nominated to fill vacancies on the Fed’s Board of Governors.

    Cook, in particular, has faced questions about her views on inflation and her resume, which Sen. Bill Hagerty, R-Tenn., has accused Cook of embellishing.

    “Today’s hearing is not just about reviewing them,” Toomey said. “It’s really about the independence of the Fed and whether or not we’re going to give up an essential part of our democracy.”

    But committee chairman Sen. Sherrod Brown, D-Ohio, said Republican criticism was politically fueled. He pointed out that Raskin, who once served as Fed governor, walked through previous confirmation hearings with bipartisan support.

    “We saw a coordinated effort by some to portray her as a radical,” Brown said. “This characterization requires a suspension of common sense.”

    The committee is expected to vote on the nominations, as well as those of current Fed Chairman Jerome Powell and Lael Brainard, a governor Biden is seeking to promote to vice chairman, later this month.

    Whiffle, a TU Delft spin-off, raises €3 million to further develop its hyper-local weather forecasting technology


    Whiffle, a Delft, Netherlands-based weather forecasting company that offers weather forecasting, wind power and solar energy services, announced on Thursday that it has raised 3 million euros in a new round of financing.

    The round saw participation from impact investors ENERGIIQ and SHIFT Invest.

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    Rafael Koene, fund manager at ENERGIIQ, says: “Whiffle’s technology can have a major impact on the energy transition by further reducing overall renewable energy costs.

    Revolutionizing Numerical Weather Prediction

    Founded in 2015 by Harmen Jonker and Remco Verzijlbergh, Whiffle is a spin-off from Delft University of Technology that claims to have developed “cutting edge” technology for highly accurate and localized weather forecasts.

    The company runs its weather model calculations on graphics processing units (GPUs), allowing local turbulence and the underlying processes and conditions in the atmosphere to be captured in detail. Powered by artificial intelligence and machine learning, Whiffle claims it is the world’s first operational weather model based on Large Scale Simulation (LES).

    Whiffle can thus provide its customers with fast and accurate weather forecasts that take into account various factors such as the local effects of hills, buildings and wind turbines.

    Whiffle CEO Harmen Jonker said: “We can use this investment to further grow the business and commercialize our weather model in a number of sectors. Over the past few years, we’ve worked hard to refine the technology and make it easy for customers to use. We are now seeing a significant increase in commercial interest. This investment will allow us to grow even faster and continue to improve our model in the years to come. »

    While the technology can help increase efficiency in many industries, Whiffle’s technology is currently being used by world leaders in the renewable energy market to develop and operate wind and solar power plants. In addition, his model is also applied to air pollution forecasting, aviation and agriculture.

    Janneke Bik, Partner at SHIFT Invest, said: “We are impressed with the team and the technology they have developed. As the growth of renewable resources will make the energy system more dependent on weather conditions, accurate simulations and forecasts are crucial for the energy transition. Whiffle therefore corresponds perfectly to the objective of our fund.

    Accelerating the energy transition

    Whiffle’s weather model makes renewable energy production more predictable. The technology is appreciated by the energy sector because better forecasts reduce the costs of weather risks. More accurate weather forecasts reduce imbalance prices for energy companies, for example, which has a direct effect on their margins.

    Furthermore, the model can also be used to optimize the layout of wind farms and better predict future energy yields. This could result in higher returns and lower financing costs.

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    How more restaurants are bringing sustainability to the table with IoT technologies |

    Most restaurants consume far more energy than the average commercial building, and refrigeration is often responsible for the greatest energy consumption.

    By Manik Suri, Founder and CEO of technology company Therma° – 2.3.2022

    Sustainability will be a defining quality of successful restaurants in 2022. As restaurants strive to differentiate themselves with exciting food offerings, engaging atmospheres and competitive pricing, many diners are looking for something different.

    One industry survey found that more than 50% of diners seek to support sustainable businesses, indicating a particular interest in restaurants with eco-conscious operating models.

    Collectively, food sustainability was more important than ever to consumers, a reality underscored by the rise of zero-waste restaurants, sustainability-focused marketing campaigns, and other industry trends. In response, many restaurants have developed and implemented environmental and sustainability goals to guide their operational priorities in the years to come.

    The right technologies can support these priorities, enabling restaurants to integrate sustainability into their business models in the future. Here’s how some of the leading restaurants are harnessing technology to bring sustainability to the table in 2022.

    Reduce food waste by monitoring on-site food storage

    Food waste is endemic in the food industry, where 1.6 billion tons of food are discarded each year. In total, food waste accounts for a third of the global supply chain, a huge waste of resources in a world where more than 800 million people in the face of hunger and food insecurity.

    Food waste also has a negative impact on the environment. the Boston Consulting Group estimates that food waste is responsible for 8% of global greenhouse gas emissions. This is why, as Atlantic note: “Tackling food waste would be a low-hanging fruit: the country could save money, emit less carbon into the atmosphere, ease the burden of landfills, reduce the number of animals subject to life on a factory farm and solve his hunger crisis just by eating all the food he makes.

    Although restaurants have a limited ability to influence the global supply chain, they can have an immediate impact on operations behind the scenes by implementing IoT technologies that continuously monitor refrigeration units and storage items. hot or cold storage.

    For example, restaurants represent a important part food waste worldwide, and inadequate temperature controls are one of the leading causes of food waste when items are stored under harsh conditions. above 40°F for more than two hours, putting it in the danger zone for foodborne illness.

    IoT solutions help restaurants avoid this. For the average restaurant location, IoT solutions can reduce annual food waste by 3,960 pounds.

    Collectively, these findings may have profound implications for global food waste. An estimate found that IoT technologies could reduce global food waste by 50% by 2030, a significant reduction that can benefit restaurants, food producers and consumers.

    Increase energy conservation with sensor technology

    Restaurants consume an incredible amount of energy, easily outpacing other commercial buildings as cooking, water heating, refrigeration, air conditioning and other energy-intensive processes drive up energy bills.

    Most restaurants consume far more energy than the average commercial building, and refrigeration is often responsible for the greatest energy consumption. Since refrigerators become less and less efficient with age, the problem worsens over time.

    Energy conservation efforts are good for the environment and great for the bottom line. According to an industry reporta 20% reduction in energy consumption improves a restaurant’s bottom line by 1%, a significant figure in an increasingly competitive environment.

    Additionally, with many diners looking to patronize restaurants that reflect their eco-responsible values, effective energy conservation can be a differentiator that further drives profitability.

    Fortunately, restaurants don’t have to rely on heavy switch patrols to save energy. Instead, restaurants can increase energy conservation by investing in energy management systems (EMS) or IoT sensors that automatically monitor or adjust equipment settings and energy production. .

    When paired with dashboard technology that allows managers to assess and manipulate energy consumption from a single platform

    Conserve water without compromise

    Water is at the heart of the restaurant’s activities. The average restaurant consumes up to 7,000 gallons of water every dayusing this limited resource for cooking, cleaning, refreshments and various other tasks.

    According to the World Bank, 70 percent of the world’s fresh water is used for agriculture, a staggering figure that may not be enough to support rapid population growth in years to come. In fact, it is estimated that agricultural production will need to increase by 50% and water withdrawals by 15% by 2050 to keep pace with growing food demand.

    Upgrading outdated or inefficient systems can reduce water consumption. However, new units are often prohibitively expensive and the investment takes time to pay for itself. Conversely, retrofitting existing units with high-efficiency nozzles and usage moderations can improve efficiency without incurring high costs.

    Meanwhile, IoT technologies can equip restaurant managers to monitor water usage, humidity levels and other appropriate metrics, identify instances of water waste and minimize damage through a early intervention. Additionally, IoT monitoring can provide frozen or burst pipe monitoring, water heater leak detection, sink and toilet leak detection, and water intrusion monitoring.

    Make sustainability a top priority

    In the coming year, diners are looking to support restaurants that prioritize sustainability. In other words, diners have a moral imperative to optimize sustainability in a rapidly changing world, but they also have an economic mandate to adopt best practices.

    IoT technologies can support these efforts, bringing sustainability to the table by helping to reduce food waste, increase energy conservation and conserve water. With the right solutions, restaurants are positioned to meet changing consumer demands and burgeoning green realities while improving profitability. It’s a rare win-win that restaurants don’t want to miss out on in 2022.

    Manik Suri is the founder and CEO of a technology company Thermo°. Therma° IoT-powered temperature monitoring and analysis prevents wasted food, produce and energy, key drivers of climate change. Therma° has partnered with national foodservice brands to supply food and health chain leaders to increase profits while protecting our planet. Prior to founding Therma°, Manik co-founded the Governance Lab (GovLab), an innovation center at NYU that developed technology solutions to improve governance. He is a former affiliate of Harvard’s Berkman Center for Internet & Society and has held positions with global investment firm DE Shaw & Company and the White House National Economic Council.

    Are you an industry thought leader with a perspective on restaurant technology that you would like to share with our readers? If so, we invite you to consult our editorial guidelines and submit your article for publication.

    Oil bankruptcies plunged in 2021 with pandemic recovery


    The number of oil and gas bankruptcies plunged last year to its lowest level since 2018 as demand and prices for crude recovered from the pandemic-induced crash.

    According to Haynes and Boone, a Dallas-based law firm that has tracked oil and gas bankruptcies since 2015, twenty oil exploration and production companies and 36 oil service and pipeline companies have filed for Chapter 11 bankruptcy. patch fell 48% from 107 filed in pandemic-hit 2020.

    Haynes and Boone said they expect the wave of oil and bankruptcies that began with the 2014 oil crash will be over and they will stop publicly reporting bankruptcy filings in the oil sector. The 56 oil and gas bankruptcies filed in 2021 were the lowest in four years and well below the six-year average of 81.

    “In 2021, there was ‘just’ $2.1 billion in total debt (brought to bankruptcy court by drillers and oil producers), the lowest amount since we started tracking these data – proof that the tide has turned,” Haynes and Boone said. “While there will still be bankruptcies in the oil sector, the tidal wave triggered by the price correction that began in late 2014 is over.”

    BANKRUPTCY: More than 100 oil and gas companies went bankrupt in 2020

    Oil and gas companies have weathered a particularly volatile energy market since 2014, when OPEC flooded the market with cheap crude to capture market share from U.S. shale producers. Since the oil crash of 2014-2016, US oil companies have faced oil crises in 2018 and most recently in 2020, when the global pandemic crushed demand and prices for crude.

    Since 2015, more than 600 oil exploration and production, oil service and pipeline companies have filed for bankruptcy, bringing more than $321 billion in debt to court.

    Texas has had the highest share of oil and gas bankruptcies, with 134 exploration and production companies and 164 oil service and pipeline companies filing for Chapter 11 between 2015 and 2021. Oil and gas companies in the Texas took over $196.8 billion in debt to bankruptcy court. over the past seven years.

    “When we began our report in early 2015, it was clear that our industry was about to enter rough seas in the face of headwinds,” Haynes and Boone said. “We did not expect to see so many bankruptcies for so long.”

    Oil and gas companies took $12.7 billion in debt to court last year, up from more than $98 billion in 2020.

    Some of the biggest bankruptcy filings last year included Seadrill, which took $5.7 billion in debt to court; Basic energy services with a debt of $3.5 billion; and Highpoint Resources Corp. with a debt of 905 million dollars.

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    Octopus Energy increases payments for solar energy customers


    Octopus Energy, the UK’s 5th largest supplier, has increased its payments for households exporting renewable energy to the grid. The company gives thousands of its self-generating customers 36% more money1 for the energy they export to the grid, with the goal of enticing more homeowners to generate electricity and to help the network become greener and more local. While the majority of export customers have solar panels, the tariff is also available to anyone who exports energy, and Octopus Energy customers include those with batteries that store energy, and even a small turbine.

    Export customers benefiting from Octopus Energy’s Smart Export Guarantee (SEG) and Fixed Outgoing Octopus tariffs now benefit from the new price change from midnight on January 31st. With this change, Octopus now also pays the customers it supplies more per kWh exported than any other UK energy provider.

    The increased prices are available to all new and existing customers, with the latter automatically transferred to the new rates from midnight last night. Agile Outgoing single rate customers already benefit from the rate’s dynamic pricing model which can pass on even higher wholesale prices. In today’s market, customers on this tariff are paid £1.28 per kWh exported at times, while most SEG tariffs pay around 3 pence per kWh. For more information, see the IDTechEx report on Energy harvesting from microwatt to gigawatt: opportunities 2020-2040.

    Octopus Energy Group was the first UK company to launch a solar export tariff in 2019, following the abolition of the government guaranteed feed-in tariff. Since then, it has incorporated many smart products that encourage export for peak-hour households and reduce the UK’s reliance on gas-fired power stations.

    Octopus Energy is the UK’s fastest growing energy supplier, already supplying 3.1 million customers since it launched on the market five years ago. Its success is built on Kraken, its cloud-based energy technology platform, which delivers operational efficiency and exceptional customer service while fostering a greener grid by unlocking smart tariffs. Its valuation recently reached around $5 billion after closing an investment round totaling $900 million.

    Rebecca Dibb-Simkin, Global Director of Marketing and Products at Octopus Energy Group, comments: “We are so excited to increase payouts for our brilliant self-generating customers by 36%. We know that the future of energy is ‘powered by people’ and benefits a decentralized energy system where an increasing number of people become generators as well as consumers. This helps the grid become greener, reduces our reliance on imported gas, and enables ordinary households to directly benefit financially. Our smart products are an experiment in how a future energy system could work on a large scale. By increasing payments, we hope to convince more people to start producing their own energy and make the UK greener than ever.”

    1 SEG (Export Customers Only) increased from 3p to 4.1p (36% increase), Fixed Outbound Octopus increased from 5.5p to 7.5p (36% increase)

    About Octopus Energy Group

    Octopus Energy Group is a global energy technology pioneer, launched in 2016 to use technology to unlock an affordable, customer-focused green energy revolution. He is part of the Octopus group, which is a certified BCorp. With operations in 13 countries, Octopus Energy Group’s mission goes global. Octopus’ home energy arm already serves 3.1 million customers with green and cheaper energy, via Octopus Energy, M&S Energy, Affect Energy, Ebico, London Power and Co-op Energy. Octopus Electric Vehicles helps make clean transport cheaper and easier, and Octopus Energy Services brings smart products to thousands of homes. Octopus Energy Generation is one of Europe’s largest renewable energy investors, managing a £3.4 billion portfolio of renewable energy assets across the continent. This is all made possible by Octopus’ technology arm, Kraken Technologies, which offers a proprietary in-house platform based on advanced data and machine learning capabilities. Kraken automates much of the energy supply chain to enable exceptional service and efficiency as the world evolves. to a decentralized and carbon-free energy system. This technology has been licensed to support more than 20 million customer accounts worldwide, through agreements with EDF Energy, Good Energy, E.ON energy and Origin Energy. As of December 2021, Octopus Energy Group was valued at approximately $5 billion following a $600 million investment from Generation Investment Management and a $300 million investment from the Regime Investment Board pensions from Canada. Both investors back companies that promote sustainability, promote green energy and fight climate change. This was the company’s third major investment round since its market launch.

    For more information see our website.

    Source and top image Octopus Energy

    Energy Transfer Vs. Williams Company: Who’s the winner in 2025? (NYSE: ET)


    CHENG FENG CHIANG/iStock via Getty Images

    The pipeline companies Energy Transfer (ET) and Williams Companies (WMB) together have an interesting history. In 2015, ET made a bid to take over WMB (see here), but that deal fell apart in 2016 when oil and NG (natural gas) prices fell. Fast forward to today and a judge has just ruled that ET owes WMB $410 million in severance charges, possibly ending the long-running dispute.

    Both companies have performed well since the announcement of this agreement and with increasing oil and NG requirements around the world, both appear to be in a good position for the next 5 years.

    In previous articles I compared ET to Enbridge (ENB) “Energy Transfer Vs Enbridge: Who’s The Winner In 2025?” and to Energy Product Partners (EPD) “Energy Transfer Vs. Enterprise Products Partners: Who Will Be The Heavyweight Champ In 2025?”

    In this article, I will compare two very different companies, with WMB being almost exclusively an NG carrier while ET is much more diverse. However, both companies are very profitable and generate huge amounts of FCF (Free Cash Flow).

    Here are four things to consider when deciding whether to invest in ET or WMB.

    1. Energy Transfer is a larger and more diverse company than Williams Companies.

    Looking at the scale of the two companies, you can see that ET is much larger in terms of pipelines, revenue, and varied revenue streams. ET has a total of over 100,000 miles of pipeline compared to WMB’s roughly 15,000.

    Revenues for the past 12 months also show the big difference in size with ET at $58 billion and WMB at $10 billion.

    As noted earlier, WMB’s revenue mix is ​​essentially limited to NG and NGLs (Natural Gas Liquids).

    Here is a graph from WMB showing the sources of EBITDA that are all NG in one way or another.


    Williams Company

    When you compare Williams above to ET’s EBITDA sources below, you can see the huge difference in diversification. Crude Oil is 21%, Retail (SUN) and Compression Services to Gas Collectors (USAC) 12%. Note that ET’s NGL revenue represents 27% of EBITDA.


    Energy transfer

    2. Do you want higher sales and profits or better gross margins?

    While ET is much larger, WMB is more profitable and has less debt. In fact, if you look at gross margin %, WMB consistently outperforms ET, although overall revenue hasn’t increased as much as ET.


    Alpha research and author

    Source: Seeking Alpha and author

    On the other hand, ET’s revenue has increased by 900% over the past 10 years, while WMB’s has only increased by 25% over the same period.


    Alpha research and author

    Source: Seeking Alpha and author

    With ET having 9 times more revenue than WMB, even with lower margins, profits are much higher.


    Alpha research and author

    Source: Seeking Alpha and author

    3. When it comes to debt and distributions, there is no clear winner.

    Arguably the best way to measure debt performance in an asset-heavy business like Pipelines is the debt-to-EBITDA ratio. It is typically used by bond buyers and bank lenders to determine interest rates to charge on debt. And because pipelines are asset-heavy, the amount of debt leads directly into one of their major expense categories, interest expense.

    The chart below shows that both companies have improved their debt ratios over the past few years, but ET currently has a lower ratio. This is reflected in the average interest rate (interest expense/debt) on each company’s debt which is 4.8% for ET versus 5.7% for WMB.


    Alpha research and author

    Source: Seeking Alpha and author

    Regarding dividends (WMB) and distributions (ET), both companies have had problems for the past 10 years, but since 2017 WMB has consistently increased its dividend while ET has cut its distribution in half in 2020. The respective yield as of 12/31/2021 is 7.4% for ET and 6.3% for WMB.


    Alpha research and author

    4. Never say never, the merger deal always seems like a good idea.

    As I mentioned at the beginning of the article, a court has just ruled in favor of WMB against ET in the amount of 410 million dollars. But if you look at the cards from both companies, the reasoning behind the original deal is still there. WMB’s assets complement ET’s and would almost certainly result in very profitable operating synergies once the companies are merged.

    Looking at the following map, you can see three obvious areas that would benefit ET. The first is the long line going to the Pacific Northwest and even close to ET’s Canadian assets. That’s a big plus because ET doesn’t have anything there now.

    The next two are on the east coast. First, there is a line running far east of ET’s current assets and perhaps even more importantly a vastly expanded presence in the Gulf of Mexico leading to ET’s assets in Florida.

    In fact, I would argue that these Williams assets would make Energy Transfer the killer of the US pipeline for the foreseeable future.


    Energy Transfer and Williams Co.

    And what about WMB shareholders? Well, the initial offer of $43 per share looks pretty good compared to the current WMB price of $26.


    In my opinion, WMB will not be a stand-alone company by 2025. They are too small and too specialized, i.e. all NG, to survive the next phase of ESG-dominated consolidation of the pipeline activity.

    ET, on the other hand, remains the most logical partner for WMB with assets matching almost perfectly. But maybe there’s too much grudge about the previous mess, stumbling, clumsy. If so, so much the worse for both companies.

    As for WMB shareholders, they’re unlikely to see a $43 offer again, but anything above $35 would look pretty good compared to WMB’s current price of $26.

    I still like ET as a long-term buy due to its huge footprint, ever-increasing cash flow, and depressed price. It may be volatile for a while yet, but eventually they will end their negative reputation.

    ET is buy and WMB is hold.

    Duke Energy prepares to respond to winter storm system in Ohio, Kentucky | duke energy

    • A mix of heavy snow, sleet, freezing rain and high winds could cause power outages.

    • Nearly 300 additional linemen, damage assessors, vegetation crews called in to supplement local crews, speed restoration.

    CINCINNATI — Duke Energy is monitoring and preparing for a winter storm system that could cause power outages in southwestern Ohio and northern Kentucky. A mix of heavy snow, ice pellets, freezing rain and high winds are expected to move through the area from early Wednesday morning through Friday morning.

    “As a severe winter approaches, we encourage customers in our service territories to prepare for potential outages,” said Kevin Morgan, Duke Energy general manager for emergency preparedness. “Our team is making preparations to ensure we can restore power to affected customers as soon as possible.”

    Snow alone usually has little or no impact on the electrical system. However, heavy accumulation of wet snow, freezing rain and high winds can bring down trees, branches and power lines. These types of winter storms can also create dangerous driving conditions, which could delay and hamper the ability of Duke Energy workers to assess storm damage and restore power.

    Duke Energy brought in 300 additional out-of-state utility response workers — including linemen, damage assessors and vegetation crews — to supplement local crews and speed recovery food. Crews will be working around the clock to restore power to affected communities as quickly as possible.

    Thick ice on trees, branches, power lines

    Ice buildup on trees and branches that causes them to fall on power lines is usually the main culprit for power outages during a winter storm. Specifically, an ice accumulation of a quarter inch or more is often the threshold that causes trees and branches to fall.

    The heavy weight of heavy ice accretion directly on the power lines themselves can sometimes cause the lines to fall or sag. Heavy, wet snow 6 inches or more can also knock down trees and branches on power lines.

    Damage assessment

    After the storm, conditions permitting, crews will assess the damage – a process that can take 24 hours or more, depending on the severity of the damage and road conditions.

    The damage assessment determines the types of crews, equipment, and supplies needed to restore power to each power outage location.

    Simultaneously, while damage assessment is underway in some of the hardest hit areas, repair work will begin in other areas where possible.

    Report power outages

    Customers can report power outages by texting “OUT” to 57801 or calling 800.543.5599. They can also report an outage online at duke-energy.com/outages or through the Duke Energy mobile app. Duke Energy will provide customers with estimated power restoration times as soon as these times are determined.

    The company will also provide regular updates to customers and communities through email, text, outbound phone calls, social media and its website, which includes a map of power outages.s.

    Winter Storm Safety Reminders

    Customers can take steps to safely prepare for winter weather conditions and outages that may affect them by doing the following:

    • Ensure you have an adequate supply of flashlights, batteries, bottled water, non-perishable food, medications, etc., as well as the availability of a portable radio, television or weather radio at Battery.
    • Customers should make alternative accommodation arrangements as needed if they will be significantly impacted by a power outage – especially families with special medical needs or elderly members.
    • If a power line falls across a car you are in, stay in the car. If you MUST get out of the car due to a fire or other life-threatening situation, do your best to get out of the car and land on both feet. Make sure no part of your body is touching the car when your feet touch the ground.
    • Ice and snow can cause dangerous driving conditions leading to traffic accidents and falling poles and power lines which in turn can cause isolated power outages. If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE.
    • If you are using a generator due to a power outage, follow the manufacturer’s instructions to ensure safe and proper operation. Run your generator outdoors; never use it inside a building or garage.
    • Do not use grills or other outdoor appliances or equipment indoors for heating or cooking, as these appliances can emit carbon monoxide.
    • Stay away from downed or sagging power lines. Consider all live lines as well as trees or branches in contact with the lines. Please report downed power lines to Duke Energy or local emergency services.
    • Prepare for an emergency by purchasing a Red Cross Emergency Preparedness Kit.

    You can find more tips on what to do before, during and after a storm at duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a useful guide, but it is essential before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.

    Duke Energy Ohio/Kentucky

    Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to approximately 860,000 residential, commercial and industrial customers in a 3,000 square mile service area, and natural gas service to approximately 538,000 customers in a 2,650 square mile service area. .

    Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Its electric utilities serve 7.9 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively possess 51,000 megawatts of power capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,500 people.

    Duke Energy is executing an aggressive clean energy strategy to create a smarter energy future for its customers and communities – with targets of at least 50% carbon reduction by 2030 and net zero carbon emissions of 2050. The company is one of the leading renewable energies in the United States. supplier, on track to own or purchase 16,000 megawatts of renewable energy capacity by 2025. The company is also investing in major power grid upgrades and expanded battery storage, and exploring technologies zero-emission power generation such as hydrogen and advanced nuclear.

    Duke Energy was named to Fortune’s 2021 “World’s Most Admired Companies” list and Forbes’ “America’s Top Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community issues and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

    Media contact: 800.559.3853

    Electric cars and home charging, how to get 6 kW for free


    Suppose you intend to convert to an electric car, but the last obstacle in the way of this change is the power of the home system to recharge the battery. In fact, in general, the most common meters belong to the two lowest power brackets, up to 3 and up to 4.5 kW: values ​​that may be insufficient for battery recovery in acceptable times. . Not to mention that there are many problems when appliances are turned on, for example air conditioning or household appliances. To remedy this situation, you must contact your operator, have the contract modified, pay the amount due for the operation, etc. : enough to discourage some potential customers. Still few know, however, that this whole process, with the relative costs, can be avoided, at least until December 31, 2023, thanks to an experiment promoted by Arera, the Regulatory Authority for Energy, Networks and Energy. environment, and entrusted to the GSE, responsible for energy services. Let’s see in detail what it is.

    The director. First of all, it should be remembered that GSE is a company of the Ministry of Economic Development which aims to promote sustainability: its main areas of intervention are two, renewable sources and the improvement of energy efficiency. The GSE has the possibility of providing economic incentives for these purposes (in 2020 it managed a total figure of around 14 billion euros), also through auctions for the installation of power generation systems. sustainable energy (photovoltaic, wind and others). In addition, the energy services manager is responsible for promoting the culture of sustainable development, for example with interventions in schools and training activities for public administration, in particular for agents who work on the energy requalification of public buildings. .

    The opportunity. From July 1, 2021 (and, as mentioned, until the end of 2023), the GSE offers the possibility for those who need to charge an electric vehicle at home and have a meter with a power not exceeding 4.5 kW to obtain, if it has the necessary conditions, an increase up to 6 kW, limited to the night time slot and weekends, that is to say when the distribution networks d energy are less charged. The operation is completely free and is managed remotely, without the holder of the energy contract having to intervene in any way whatsoever on the system to activate the increase in power.

    Advantages. The Arera and GSE studies estimated a benefit for the consumer of 200 euros one-off (costs of the operation relating to the meter, if incurred privately) and 60 euros per year. Figures that may seem modest, especially for those who have faced the purchase of an electric car, but to which are added non-quantifiable, but real, advantages of a practical nature: first of all, the convenience of not having to go to your energy supplier, but to carry out the practice online directly with Gse, which has already directly managed relations with more than 300 commercial companies in the sector present at national level.

    The requirements. What do you need to access these benefits? The most important thing, in addition to the availability of a first or second generation electronic meter, is to have installed a wallbox capable of communicating data to the outside and performing certain actions: however, it is not necessary to know in detail which ones, why the site from the GSE shows the list of about 300 suitable devices (and if yours is not among them, you can provide the documentation, including a manufacturer’s declaration of suitability). These are not particularly fancy wallboxes, but the most common ones, the prices of which start at 600-700 euros. To this must be added an advanced installation certificate, issued by the professional operator who built the system. Once the basic information on the site (data of the supply and the charger, address, data relating to the vehicle to be charged, etc.) and the declaration of conformity of the system have been communicated, the request is generally approved within a month or a year. little more. The whole operation is quite simple, but it has a deadline: in fact, unless the initiative is extended, applications can be submitted until April 30, 2023.

    Odfjell Drilling considering spin-off of well services, energy units and listing in Oslo


    By Dominic Chopping


    Odfjell Drilling Ltd. said on Monday that it plans to spin its well and energy services segments into a newly created company, Odfjell Technology Ltd., and list the shares on the Oslo Stock Exchange.

    Combined with the favorable underlying drivers and market outlook for both companies, the split plan is part of the company’s strategy to create more shareholder value, he said.

    The spin-off would allow Odfjell Technology to focus more on innovating and developing new services, technologies and products needed for the energy transition, delivering reduced emissions for customers through, for example, increased drilling efficiency and the application of new technologies, the company said.

    Additionally, Odfjell Technology would seek to further expand into green businesses, such as its current investment in Odfjell Oceanwind, he said.

    As part of the split, Odfjell Technology intends to issue four-year senior covered bonds aggregating approximately 1.1 billion Norwegian kroner ($123 million) through a private placement. The net proceeds, along with a new $25 million super senior revolving credit facility, will be used to complete an internal reorganization and to repay the existing $150 million credit facility related to the Well Services and energy, the company said.

    Shares of Odfjell Technology are expected to be distributed to company shareholders and admitted to trading on the Oslo Stock Exchange in the first quarter of 2022, the company said.

    No assurance can currently be given that the spin-off and listing will be complete, he said.


    Write to Dominic Chopping at [email protected]

    Office of Energy Report: Nevada Aims for 50% Clean Renewable Energy by 2030 | Carson City Nevada News


    The Nevada Governor’s Office of Energy released its annual State of Energy Report on Friday. Pursuant to Nevada Revised Statutes (NRS) Section 701.160, the GOE is accountable for its purposes, activities and coordination as part of its mission to ensure the wise development of Nevada’s energy resources.

    In addition to highlighting the work of the GOE program, the report provides an overview of significant state and federal policy changes to Nevada’s renewable energy, energy efficiency and transportation electron landscape in 2021.

    “As Nevada continues to make progress toward our emissions reduction goals, I am so grateful to Director Bobzien and his team for all of their hard work in advancing renewable energy and transportation electrification initiatives,” said said Governor Steve Sisolak.

    Pursuant to Governor Steve Sisolak’s Executive Order on Climate Change (2019), the GOE has been tasked with coordinating with the Nevada Department of Natural Resources Conservation (DCNR) an economy-wide climate strategy aimed at reduce greenhouse gas (GHG) emissions, and the GOE program areas of transport electrification and renewable energy are an ongoing primary focus to achieve these goals.

    “Because transportation and power generation are the two largest contributors to Nevada’s GHG emissions, the GOE’s program work in 2021 underscored our focus on transportation electrification and achieving the standard of Renewable Energy Portfolio (RPS) required by state law,” Director Bobzien said. “While electricity generated from renewable resources currently accounts for approximately 25% of the state’s electricity, we continue to work with the Nevada Public Utilities Commission, utility providers, the energy industry renewables and conservation organizations to ensure Nevada meets our 50% clean energy goal by 2030.

    Additional highlights from the 2021 State of Energy Report:

    – Nevada continued to lead the discussion on a western regional electricity market through several regional working groups and the formation of a regional transmission coordination working group, thanks to the Senate Bill (SB) 448.

    – In early 2021, the GOE submitted an intervention to the California Public Utilities Commission that led the neighboring state to procure clean energy resources from southern Nevada to support transportation development and job creation in the two states.

    – Nevada is expected to achieve 50% of electricity generated by renewable energy sources by 2030, as required by the RPS of Nevada Revised Statute (NRS) Chapter 704.7821. Through the Renewable Energy Tax Abatement (RETA) program alone, 1,332 megawatts (MW) of renewable energy capacity has been added in Nevada, for a total of 6,117.2 MW.

    – The GOE awarded $200,000 to the Walker River Paiute Tribe to fund geothermal exploration on their tribal lands, and an additional $250,000 award to the Moapa Band of Paiutes is pending review by the U.S. Department of energy (DOE) for their dedicated transmission line.

    Nevada adopted the 2021 International Energy Conservation Code on July 28 with an optional amendment on electric vehicle readiness, paving the way for local jurisdictions to follow suit, as required by NRS 701.220.
    The GOE provided approximately $582,000 to eligible Nevada seniors for energy efficiency upgrades through its Home Energy Retrofit Opportunity for Seniors (HEROS) program, in partnership with the Nevada Housing Division.

    About the Office of the Governor of Energy
    The Governor’s Office of Energy (GOE) oversees energy programs required by law and those that help fulfill the office’s mission, which is to ensure the wise development of Nevada’s energy resources in harmony with the economic needs of the local community and the natural resources of Nevada.

    5 MW cogeneration equipment for the grid market will explode – BDR Thermea, ABB, ANDRITZ Energy & Environment GmbH, Aegis Energy Services Inc., Kawasaki Heavy Industries.


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    5 MW Cogeneration Equipment for the Grid Market: Segmentation

    By type:

    Steam turbine
    Gas turbine
    Combined Cycle Gas Turbine
    reciprocating engine

    By app:

    Natural gas

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