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European Union clears power deal between Danish operator, utility

European Union, DONG Energy

BRUSSELS (AP) — The European Union has ruled that an electricity deal between Danish utility DONG Energy and government-owned grid operator Energinet.dk doesn’t constitute state aid. Under the 2011-2015 deal, DONG, which is majority-owned by the government, was required to supply electricity at short notice to ensure the stability of the power grid. Competitors had complained to the EU executive ...

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The Paris climate deal at a glance

The Paris climate deal at a glance

NEW YORK (AP) — Four months after negotiating a global climate agreement in Paris, government officials are coming to New York on Friday to sign the pact in a ceremony at the United Nations. Here are some of the key elements of the Paris deal, which is the first agreement requiring all countries to join the fight against global warming. ...

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Exelon closes deal to buy Pepco, creating largest US utility

California wildfires

NEW YORK (AP) — Exelon has completed its nearly $7 billion deal to buy Pepco, creating America’s largest electric utility company. The deal closed late Wednesday after the company received approval from its final regulator, almost two years after the company first made its offer for Pepco. The combined company becomes the largest electric utility company in the U.S., based on ...

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Utilities seek ConocoPhillips stake in Cook Inlet gas field

Utilities seek ConocoPhillips stake in Cook Inlet gas field

ANCHORAGE, Alaska — Two Anchorage-based utility companies have teamed up to purchase a portion of a Cook Inlet gas field under a $152 million deal with ConocoPhillips. Anchorage Municipal Light and Power and Chugach Electric Association are looking to buy ConocoPhillips’ stake in the Beluga River Unit about 35 miles west of Anchorage. The deal announced Monday calls for ML&P ...

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New technology reduces damage to fracking pumps

Finding a solution to reduce maintenance costs at hydraulic fracturing sites paid off for Energy Recovery Inc. The California-based company developed a new hydraulic fracturing manifold system and recently entered into an exclusive 15-year, $125 million deal with Schlumberger, the world’s largest oilfield services provider. The VorTeq hydraulic pumping system is the first product engineered to increase runtime and reduce ...

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