| Also Noted: Meru Networks
NIST seeks increased funding for securing cyber-physical systems and much more... Hawaiian PUC orders state utilities to take action
The Hawaiian Public Utilities Commission has made four major decisions and orders requiring the Hawaiian Electric Companies (HECO) to: develop and implement major improvement plans to aggressively pursue energy cost reductions, proactively respond to emerging renewable energy integration challenges, improve the interconnection process for customer-sited solar photovoltaic systems, and embrace customer demand response programs. Article
Energy independence hinges on closing gas infrastructure gap
Without a solution to the significant gas pipeline infrastructure gap that currently exists, the energy independence that the shale gas revolution could provide may never be realized. That is according to a new report from global law firm White & Case LLP. Article
$1B Energy Strong settlement reached
Public Service Electric and Gas Company (PSE&G) has reached a $1.22 billion settlement with the New Jersey Board of Public Utilities (BPU) in PSE&G's Energy Strong proposal to proactively protect and strengthen its electric and gas systems against severe weather conditions. Article
News From Across the Energy Industry:
1. Trading buildings for renovations
2. MidAmerican makes good on 2012 solar commitment
3. Exelon acquires Pepco for $6.8B
More headlines...
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Today's Top News 1. More customers want energy efficiency services
Four out of five American consumers and energy professionals view energy efficiency as a priority. At least two out of three believe energy efficiency could significantly reduce overall energy use, if not for political issues. This is according to two separate surveys conducted by the University of Texas at Austin (UT) and the nonprofit, nonpartisan OurEnergyPolicy.org. The UT poll of 2,133 U.S. residents found that 79 percent of American consumers view energy efficiency as a priority, up from 72 percent six months ago. "It's encouraging that most Americans, as well as informed energy industry professionals, place such a high priority on energy efficiency," said Sheril Kirshenbaum, director of the UT Energy Poll. "Our survey showed a significant uptick in the number of consumers who say they're likely to invest in a wide range of energy efficiency products over the next five years." The support is even higher from energy professionals, with 82 percent indicating that energy efficiency is a high or very high personal priority. Less than 1 percent said energy efficiency is not a personal priority. However, both surveys revealed that at least 65 percent of respondents see "political squabbling or stalemate" as a significant barrier to making more energy-efficient goods and services available to consumers. "The fact that both energy consumers and professionals regard energy efficiency as a priority is good news, but our broken political system must be fixed if we are going to make progress," said OurEnergyPolicy.org President Bill Squadron, adding that this is "both heartening and disappointing." The OurEnergyPolicy.org survey included 550 individuals from professional energy associations, state energy offices, energy engineering groups, public utilities, and oil and gas organizations. More consumers than energy professionals said investing in energy-efficient home appliances would produce the most savings (19 percent and 3 percent, respectively), while more energy professionals than consumers indicated they would save the most money by improving the energy efficiency of their vehicles (31 percent versus 21 percent). Survey respondents differed when asked where the U.S. should spend the most money on research and development, with 54 percent of energy professionals indicating a preference for spending on energy efficiency measures, compared with 41 percent of consumers. While 40 percent of consumers indicated they would like to see the most government spending on renewable energy programs, 32 percent of energy professionals said the same. Many energy professionals want the federal government to take the lead on pushing energy efficiency (46 percent), compared with 36 percent of American consumers. The UT Energy poll was developed by the McCombs School of Business and launched in October 2011 to provide an objective, authoritative look at consumer attitudes and perspectives on key energy issues. It is designed to help inform national discussion, business planning and policy development. Data from the poll were weighted for age, sex, race/ethnicity, education, region and household income based on U.S. Census Bureau figures, as well as propensity scores, to ensure the sample's composition reflects the actual U.S. population. Energy professionals participating in the OurEnergyPolicy.org survey included 550 individuals from professional energy associations, state energy offices, energy engineering groups, the public utility sector, and oil and gas organizations. For more:
- see the poll results Related Articles:
Customers, utility benefit from energy efficiency program
Energy efficiency crystal ball Read more about: Energy Efficiency, ourenergypolicy.org
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2. EEI announces Edison Award nominations
The Edison Electric Institute (EEI) has recognized four U.S. and three international electric companies as finalists for the 2014 Edison Award, which recognizes distinguished leadership, innovation, and progress in advancing the electric power industry. The U.S. finalists are AES Corporation, Otter Tail Power Company, Southern Company, and Westar Energy; AES Tietê, Hydro One Networks, Inc., and Korea Southern Power Corporation Limited are the international nominations. "All of these companies exemplify the electric power industry's commitment to providing safe, reliable, affordable, and sustainable electricity," said EEI President Tom Kuhn. "This year's Edison Award finalists truly demonstrate the industry's most outstanding efforts with their innovative technologies, programs, and projects that will help shape the future of the industry." The companies are being recognized for a range of efforts in 2013. AES Corporation has expanded its battery-based grid resources to more than 100 MW, making it the largest battery fleet in commercial service in the United States. Otter Tail Power Company successfully completed the Bemidji-Grand Rapids 230 kV transmission line project that runs 70 miles through northern Minnesota, providing needed transmission capacity to support new generation, including renewable energy. Southern Company's subsidiary, Georgia Power, completed a first-of-its-kind Water Research Center focused on finding new ways for the electric power industry to reduce, conserve, and improve the quality of water returned to the environment from power plants. The center is expected to yield industry-wide insights that will help electricity generators around the world. Westar Energy completed the experimental phase of an innovative biological process to treat waste water from coal-fired power plants in order to replace other costly engineered solutions with a natural and less costly way to remove pollutants from the Flue Gas Desulfurization process to ensure discharged water meets high environmental standards. For more:
- see this report Related Articles:
SmartHours saves money for 90 percent of OGE customers
Oklahoma utilities get EEI props Read more about: Edison Electric Institute
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3. The Social Cost of Carbon: Trillions of dollars
The U.S. Environmental Protection Agency (EPA) uses several computer models to determine the "Social Cost of Carbon" -- the calculation the agency uses to justify regulations to reduce CO2 emissions. However, the Heritage Foundation's Center for Data Analysis claims that the EPA's models are "entirely unsuited for real-world policy application."  | | Credit: The Heritage Foundation | The research claims that the EPA uses neither the most recent, peer-reviewed estimates of CO2's impact on temperatures nor the 7 percent discount rate, as stipulated by the Office of Management and Budget. When researchers ran two EPA models using those data points, the Social Cost of Carbon estimate plummeted. Under the Dynamic Integrated Climate-Economy (DICE) model, estimated societal costs fell more than 80 percent. The Climate Framework for Uncertainty, Negotiation and Distribution (FUND) model produced an estimate of no net cost and perhaps even a net benefit to society. The researchers contend that both the DICE and FUND models are "fundamentally unsound as a basis for justifying significant regulations of the American economy." Further, it calls the DICE model "flawed beyond use for policymaking." Further, the research found that the FUND model so sensitive to assumptions that at times it even suggests net economic benefits to CO2 emissions. As such, the research concludes that both models are fundamentally unsound as a basis for justifying significant regulations. The EPA's own models demonstrate that it's unclear whether CO2 emissions should be restricted or encouraged, the research contends. Yet, the EPA has selected assumptions that fix the SCC in excess of $40 -- a figure that, if used to guide regulation, could impose trillions of dollars in costs over the next few decades. For more:
- see this report
- see this report
- see this report Related Article:
Report calculates the social costs of carbon Read more about: Social Cost of Carbon
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4. Latest Cape Wind lawsuit unconstitutional
A lawsuit challenging Cape Wind's power purchase agreement (PPA) with NSTAR, for the energy generated by the nation's first offshore wind farm, has been dismissed by District Court Federal Judge Richard Stearns on the basis that the lawsuit violates the 11th Amendment to the Constitution of the United States -- the amendment that gives states immunity from being sued for past actions in Federal Court. Judge Stearns also rejected the premise of the lawsuit.  | | Credit: Paul Anderson/Wikimedia Commons | "The allegation that DPU (Massachusetts Department of Public Utilities) dictated that NSTAR procure power from Cape Wind at a specified price is misleading and ultimately untrue," he said. While Judge Stearns identified the 11th Amendment as sufficient grounds to dismiss the lawsuit, he noted it could also have been dismissed on various other grounds. "The governor, the legislature, the relevant public agencies, and numerous courts have reviewed and approved the project and the PPA with NSTAR and have done so according to and within the confines of the law," he said. "There comes a point at which the right to litigate can become a vexatious abuse of the democratic process." So far, there have been 26 failed legal actions brought by project opponents. Bill Koch, the largest funder and chairman of the opposition group, and a coal and petroleum coke billionaire, has stated publicly that his organization's strategy is "delay, delay, delay." He has obviously tried to use the courts to achieve this strategy. Judge Stearns' decision attempts to stop these types of tactics. "It is obvious that project opponents have just been using the courts to delay this important project and to try to disrupt their efforts at securing financing; it is gratifying to see, for the 26th time, their lawsuit get rejected," said George Bachrach, president of the Environmental Leagues of Massachusetts. "I call on the Town of Barnstable to stop taking Bill Koch's money and filing these frivolous lawsuits and appeals." For more:
- see this decision Related Articles:
Cape Wind claiming legal victories
Cape Wind's legal victory tainted by new lawsuit
Support for Cape Wind drops Read more about: Cape Wind
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5. Court supports EFH continuation of operations after bankruptcy filing
Last week, Energy Future Holdings (EFH) voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the District of Delaware. EFH has entered into an agreement with certain of its key financial stakeholders to reduce its approximately $40 billion of debt, lower its annual cash interest costs and access significant additional capital. This week, EFH is announcing that the U.S. Bankruptcy Court for the District of Delaware has granted the relief requested by the company in key first day motions. As part of its filing under Chapter 11, the company presented first day motions intended to support the continuation of its normal course business operations for customers, employees and retirees, vendors and suppliers, and other business partners during the reorganization. "We are very pleased to have made a smooth transition into the Chapter 11 process with the approval of first day motions, including our TCEH (Texas Competitive Electric Holdings Company) debtor-in-possession financing, which supports the continuation of our normal day-to-day operations during the reorganization process," said John Young, president and chief executive officer of EFH. "This helps to ensure that we will continue serving our customers and providing safe, reliable energy as we restructure our balance sheet and put the company on a sustainable path for a stronger future." The court granted interim approval for the company to access $2.33 billion of its new $4.475 billion in debtor-in-possession (DIP) financing for TCEH. The new financing, combined with cash flow generated by ongoing operations, will be available to TCEH to help support, among other things, normal business operations during the Chapter 11 process. The company intends to file a plan of reorganization to implement the proposed restructuring agreement in the near term. The consummation of the plan of reorganization will entail certain regulatory approvals, including, among others, the approval of the tax-free transaction by the Internal Revenue Service and approvals by the Public Utility Commission of the State of Texas and the U.S. Nuclear Regulatory Commission. "We are pleased to have the support of our key financial stakeholders for a consensual restructuring. With this restructuring plan, we now have a path to a sustainable capital structure that would put EFH and its family of companies in an even stronger position over the long term to deliver for all of our stakeholders, including our customers, our employees and our business partners. This restructuring is focused on our balance sheet, not our operations," Young said. "Our existing capital structure has become unsustainable. We expect that, with the support of our financial stakeholders, our restructuring can proceed expeditiously as we seek to strengthen our balance sheet and position the company for the future. EFH has made customary filings, including first day motions, with the Bankruptcy Court, which… will help ensure a smooth transition to Chapter 11 without business disruption." Under the terms of the proposed restructuring agreement, upon emergence, transactions would be implemented to eliminate certain debt at EFH and certain of its subsidiaries. TCEH and its subsidiaries would separate from EFH without triggering any material tax liability, and TCEH's first lien lenders would receive all of the equity in the reorganized TCEH and the cash proceeds from the issuance of new debt at the reorganized TCEH in exchange for eliminating approximately $23 billion of TCEH's funded debt. For more:
- visit this website Related Article:
Oncor, EFH targeted for collecting excessive customer funds Read more about: John Young EFH
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News From Across the Energy Industry:
> Sierra Club does not appeal EPE air permit Post
> Energy efficiency helps ISO NE meet 2014 summer demand Post
> 2013 CA wholesale power prices competitive despite higher natural gas prices Post
> Planning the Grid for Distributed Energy Resources - Wednesday, May 14 - 2pm ET / 11am PT Distributed energy resources - such as distributed generation, advanced inverters, demand response, and energy storage - are transforming the power system. Optimizing the locations and portfolios of distributed energy resources will be key to maximizing the value to utilities and ratepayers. Register Today!
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