Iberdrola will combine UIL’s power and gas operations with its existing local unit and will list the new company on an American stock exchange. The combined company will serve 3.1 million customers in New York, Connecticut, Massachusetts and Maine. The company said it expected to invest $6.9 billion in electric and gas infrastructure and other capital expenditures over the next five years.
Spanish utility Iberdrola SA will buy UIL Holdings Corp for about $3 billion to create a new listed power and gas company and expand in the United States, where it hopes to offset falling profits at home. A world leader in wind turbines, Iberdrola joins other European companies seeking to grow via acquisitions outside sluggish domestic markets. Last year, German engineer Siemens agreed to buy U.S. turbine maker Dresser-Rand.
A bill sponsored by state Sen. Don Harmon (D-Oak Park) and State Representative Elaine Nekritz (D-Northbrook) that would make changes to Illinois’ Renewable Portfolio Standard might create 32,000 clean energy jobs, according to its backers. The bill would support greater solar power, and improve energy efficiency. It would also increase the renewable energy standard from 25% by 2025 to 35% by 2030.
On February 5th, state Senate Republicans passed a bill to roll back Colorado’s renewable energy standard (RES), which has helped make the state a national leader in clean energy. Rolling back the RES is precisely the wrong direction for Colorado to go at this time. In addition to providing important benefits to Colorado’s economy, increasing renewable energy use is one of the most cost-effective strategies for complying with the EPA’s proposed power plant carbon standards.
John Podesta’s replacement in the White House isn’t wasting any time going after politicians who deny the prevailing views on climate science. In his first full week on the job since inheriting Podesta’s portfolio as White House climate adviser, Brian Deese sharply criticized some lawmakers who oppose the Obama administration’s climate and energy policies this morning at a climate conference in Washington, D.C.
U.S. EPA posted a defense on its website today of a draft rule for slashing carbon emissions from power plants that’s been criticized as a threat to grid reliability and affordability. “As with anything EPA does, a handful of special-interest critics are automatically opposed,” spokesman Tom Reynolds said in the EPA blog.
Texas has joined the 10% club – the group of states that get more than 10% of their electricity from renewable energy. Last year, wind supplied 10.6% of electricity, up from 6.2% in 2009, according to ERCOT, the grid operator that covers most of the state. The leap is due to a combination of big wind farms coming online and the ability to carry that energy to population centers through a $6 billion investment in an expanded transmission system.
Hillary Clinton hasn’t even announced a presidential bid yet, but key campaign players are already getting in place, fueling speculation about Clinton’s likely cadre of green allies.
A senior House Democrat launched an open-ended inquiry yesterday into the finances of seven climate researchers following revelations that Willie Soon accepted $1.2 million from fossil fuel interests before publishing articles related to global warming.
U.S. EPA’s effort to curb air pollution drifting across state lines was under siege in federal court again today, and it appeared vulnerable to the challenge from states and industry despite emerging victorious last year from the Supreme Court. More than a dozen states are asking the U.S. Court of Appeals for the District of Columbia Circuit to throw out all or part of EPA’s Cross-State Air Pollution Rule, or CSAPR, a regulatory regime for 28 Eastern states.