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The Buzz

25 Feb

The 2020 and quarterly earnings of the parent corporations of the four investor-owned utilities are a mixed bag. Annual net income for Edison International and PG&E Corp. drops while fourth quarter earnings rise. Sempra Energy’s reported income goes the opposite direction. While utility leaders sing the praises of increased investments and revenue to analysts, economists, […]

Utility Annual Earnings & 4th Quarter Go North and South

25 Feb

Edison International’s earnings for 2020 fell, but its fourth quarter net income was higher than in 2019. For Sempra Energy, the reverse was true. Edison International–Annual earnings for Southern California Edison’s parent company dropped to $700 million in 2020, or $1.98 per share. That compares to $1.3 billion in 2019, or $3.78 per share. Fourth […]

PG&E Reports Loss in 2020, Smaller than 2019

25 Feb

Pacific Gas & Electric Corp. reported continued losses for last year, at $1.3 billion, or $1.05 per share. That is far smaller than the utility loss of $7.7 billion, or $14.50/share, in 2019. Fourth quarter earnings for the utility’s parent company were in the black at $200 million, or 9 cents/share, contrasted with a loss […]

The Buzz

11 Feb

The ever-growing tab from months of unpaid utility bills will soon come due. Who gets saddled with that debt, currently $1.15 billion, remains to be seen? The California Public Utilities Commission will look at repayment options. Unpaid bills of $1 billion and climbing gets dwarfed by the $15 billion in additional spending the private utilities […]

Utility Regulators Grapple with $1B+ in Unpaid Energy Bills

11 Feb

The California Public Utilities Commission is exploring options for paying off the more than $1.15 billion in unpaid utility bills that has accumulated during the pandemic. “The numbers are pretty horrendous,” CPUC President Marybel Batjer said Feb. 11 of the arrearages for Pacific Gas & Electric, Southern California Edison, San Diego Gas & Electric and […]

Northern and Central Calif CCAs Team Up to Buy Power

8 Feb

Eight community energy organizations have joined forces to purchase clean power in an effort to lower costs through economies of scale. Realized savings would in turn be viewed favorably by credit rating agencies, potentially further improving community aggregators’ bottom lines. Several northern and central coast aggregators representing 6.6 million people and 32,600 GW hours of […]

Roundup: Power Shutoffs in Winter, San Diego Community Energy to Launch Soon

19 Jan

Updated Jan. 21 Highly unusual winds for this time of year prompted preventive power shutoffs and warnings to more than 300,000 utility customers early this week, nearly all in Southern California Edison territory. About 78,546 SCE customers across six counties had their power cut by Tuesday afternoon. Most were in Los Angeles, Riverside and Ventura […]

Shorts

12 Jan

The Public Advocates Office announced it saved California ratepayers more than $3 billion in utility rates last year. “The impacts of COVID-19 and the increasing frequency of wildfires have made our advocacy that much more important for Californians,” Elizabeth Echols, Director of CalAdvocates, said Jan. 11. She stressed the need for affordable safe utility services–from […]

CPUC Orders Utilities to Line Up More Resources for Peak Summer Demand

11 Jan

To avoid rolling outages due to electricity supply shortages, state officials direct the three investor-owned utilities to line up additional resources by mid-February. The aim is to ensure peak demand and demand as the sun sets, known as net peak, are met this summer.   Under a Jan. 8 proposed decision by an administrative law […]

The Buzz

7 Jan

Three is not a charm for Pacific Gas & Electric. Its problematic 1,150 MW Unit 2 at its Diablo nuclear plant is down for a third time because of a new issue. The soonest it will be back online is the end of May. A quintet of community energy agencies receive solid credit ratings, which […]

New Problem at Diablo Nuclear Plant’s Unit 2 Causes 3rd Shut Down

7 Jan

Correction made Jan. 21 Half of California’s sole remaining nuclear plant, Diablo Canyon, is offline for the third time in six months, and it’s not expected to be back in continuous service for several more weeks. The plant’s 1,150 megawatt Unit 2 went down Dec. 2. Both of the unit’s two unplanned outages earlier last […]

More Community Aggregators Come of Age, Get Rated

7 Jan

Community energy organizations in California continue to do well on their early investment credit ratings, with five of the entities now rated. Two Bay Area community energy organizations, which supply energy to former private utility ratepayers, are the most recent to receive solid grades. Silicon Valley Clean Energy received an “A” from S&P Global Ratings […]

News Roundup: New CPUC Executive Director

6 Jan

The California Public Utilities Commission named a new executive director to replace the former chief Alice Stebbins, who was fired in August. Rachel Peterson, who has been the Acting Executive Director, became the new director Jan. 5. “It is a great move for the CPUC,” Arthur O’Donnell, energy analyst and journalist, and former CPUC staffer, […]

JUICE: Top 2021 Energy Issues

5 Jan

Looking ahead at key energy concerns this year, Current predicts soaring utility bills in an economy battered by Covid-19 will be a major issue. Others will include the fate of the vast majority of San Diego Gas & Electric’s customer base and expected devastation and outages in the upcoming fire season. Also, center stage in […]

Edison Reimagines California’s Distribution System

5 Jan

Distributed energy’s explosive growth makes integrating it in a way that supports the power system critical, according to a new white paper from Southern California Edison. The paper forecasts significant growth of distributed energy resources (DER) in California and “we want to have the system technologies to see and manage their impacts,” SCE VP of Asset […]

The Buzz

17 Dec

Federal energy regulators shoot down a proposed order requiring the grid operator to prove the August outages were not caused by its unreasonable tariff. Two of the three voting Federal Energy Regulatory Commission members reject interfering with the California Independent System Operator’s work with state energy agencies to fill grid reliability gaps. The California Public […]

PG&E & SCE Customers Will Soon See Double Digit Bill Increases

17 Dec

After numerous speakers objected to the California Public Utilities Commission increasing electricity and gas rates because of the shelter in place orders, higher winter utility bills and loss of jobs, a rough estimate of the big increases in the investor-owned utility bills starting next year was presented Dec. 17.  Rate hikes are driven largely by […]

The Buzz

3 Dec

The Diablo nuclear power plant’s Unit 2 shuts down just two days after it goes back online over the Thanksgiving holiday weekend. The $100 million rebuild of the electric generator part malfunctions for a third time. A watchdog wants to know the cause, who is on the hook for the repair and whether there will […]

PG&E Rates Climb and Climb Again

3 Dec

As Californians pay higher electric bills because work and other activities are confined to home, the California Public Utilities Commission unanimously approved a request from Pacific Gas & Electric to increase its revenue this year by $9.1 billion, a nearly 7% increase over last year. In 2021, there will be an additional $316 million rise […]

Diablo Canyon Unit Down Again

3 Dec

One of two main units at the Diablo Canyon Nuclear Power Plant is down for the third time. Soon after Unit 2 was restarted over the Thanksgiving weekend after a month-and-a-half long outage, Pacific Gas & Electric again had to take it offline. The problem continues to be with an electric generator component that was […]

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