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American Electric Power (AEP)
The Office of the Ohio Consumers' Counsel (OCC) is back in court trying to stop American Electric Power from collecting hundreds of millions of dollars in unlawful rate increases.
The consumer advocate filed a new appeal of the company’s rate plan with the Supreme Court of Ohio (case # 09-2022). The action follows the court’s October 29 dismissal of the OCC’s first appeal because the Public Utilities Commission of Ohio (PUCO) had not ruled on two applications for reconsideration filed by the OCC and other parties.
Nov 11 · 3:49:00 PM · Source: PR Web
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by Michael Oliveto
UGI Corporation (UGI)
UGI Corporation, a gas and utility company, Wednesday reported net income of $258.5 million, or $2.36 per diluted share, for its fiscal year ended September 30, 2009, compared to $215.5 million, or $1.99 per diluted share, for the fiscal year ended September 30, 2008. Full year revenues dropped to $5.7 billion from $6.65 billion last fiscal year.
Nov 11 · 11:00:00 AM · Source: Company News Release
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by Larry Etter
Edison International (EIX)
Edison International Friday reported earnings of $403 million, or $1.23 a share, down from $439 million, or $1.33, a year earlier. Excluding regulatory impacts, earnings fell to $1.09 from $1.46. Revenue dropped 15% to $3.66 billion.
Nov 6 · 5:43:00 PM · Source: Company News Release
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by Larry Etter
Exelon (EXC)
Exelon shut the 867-megawatt Unit 2 at the Dresden nuclear power station in Illinois for planned refueling and maintenance early Monday, the company said in a release.
The company did not say when the unit would return to service in the release. Electricity traders guessed the unit would return in about a month.
Nov 5 · 12:08:00 PM · Source: Reuters
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by Michael Oliveto
Exelon (EXC)
Exelon Generation today announced
that the Old Dominion Electric Cooperative awarded it a ten-year
contract commencing on June 1, 2010 to provide 200 MWs of baseload generation
capacity and energy. ODEC awarded Exelon the deal as a result of a
competitive bidding process it initiated in June 2009.
The long-term contract with ODEC fits squarely within Exelon's hedging program
designed to manage market risks to maintain the value of its generation
portfolio. It also shows that there are opportunities for competitively priced
long-term bilateral contracts.
Nov 5 · 11:55:00 AM · Source: Reuters
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by Michael Oliveto
Entergy (ETR)
Entergy remains committed to spinning off five of its nuclear power plants into a stand-alone company, but the company's CEO suggested a possible alternative Tuesday if it can't win regulatory approval in New York.
Entergy Chairman and Chief Executive J. Wayne Leonard said the company could spin off its utility businesses into a stand-alone company to accomplish the same goal of separating its regulated utility businesses concentrated in the Southeast from its nuclear plants that sell power at market prices.
"We don't expect to go down that route, but it is a path to get you back to where you were. It just takes us longer and (requires) more regulatory approvals," said Leonard, speaking at the Edison Electric Institute's financial conference in Florida.
Nov 4 · 4:32:00 PM · Source: The Wall Street Journal
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by Michael Oliveto
Entergy (ETR)
Entergy said it has agreed to acquire the 580-megawatt Acadia 2 natural gas-fired unit near Eunice, Louisiana, from independent Acadia Power Partners LLP.
The combined-cycle unit, completed in 2002, becomes one of the most efficient gas-fired units in Entergy Louisiana's fleet and will help lower the utility's fuel costs, Entergy said in a release.
Nov 4 · 4:28:00 PM · Source: Reuters
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by Michael Oliveto
Entergy (ETR)
The Board of Directors of Entergy Corporation has declared a quarterly dividend of $0.75 per common share. The payment date is December 1, 2009, to stockholders of record on November 12, 2009.
Nov 4 · 4:26:00 PM · Source: Reuters
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by Michael Oliveto
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