Tag

Utilities

All articles tagged with #utilities

politics14 days ago•31 min saved

Senate energy deal faces House resistance and utility pushback

A bipartisan Senate permitting reform bill, co-sponsored by Sheldon Whitehouse and Martin Heinrich, aims to streamline energy project approvals and expand federal transmission authority. While the White House and Republicans support the measure, House Democrats led by Jared Huffman are stalling passage until after the midterm elections to leverage a potential Democratic majority. The legislation also targets utility monopolies, a shift from previous failed deals, though environmental groups remain divided on its provisions.

via Slow Boring|

#energy-policy #ferc #permitting-reform

business27 days ago•9 min saved

Buffett's 'Boring' Utility Bets Pay Off as AI Drives Energy Demand

Warren Buffett’s recent step-down as Berkshire Hathaway chairman highlights a legacy of value investing that has inadvertently positioned the firm to profit from the AI boom. By focusing on 'boring' sectors like utilities and industrial components, Berkshire has secured a strategic advantage in the energy-intensive AI infrastructure buildout. The company’s holdings in MidAmerican Energy and Precision Castparts are now critical beneficiaries of surging data center demand, demonstrating that traditional value bets can outperform speculative tech plays.

via Yahoo! Finance Canada|

#artificial-intelligence #berkshire-hathaway #business

economy1 month ago•4 min saved

Healthcare to drive 37% of U.S. job growth by 2035 as AI reshapes labor market

The Bureau of Labor Statistics projects that healthcare and social assistance will account for 37% of all new U.S. jobs through 2035, adding 2.2 million positions. While total employment growth is expected to slow to 3.5%, utilities and tech roles are expanding rapidly due to AI infrastructure demands, even as office and administrative jobs decline.

via Fortune|

#ai #bls #economy

politics1 month ago•54 min saved

California Assembly kills Newsom's wildfire liability compromise

The California Assembly killed Senate Bill 492, a compromise on wildfire liability, on the final day of the legislative session. Governor Gavin Newsom's attempt to limit utility liability and insurer subrogation failed after lawmakers deemed the measure insufficient. Stock prices for major utilities like PG&E and Edison International dropped significantly following the legislative failure.

via Yahoo|

#california #gavin-newsom #insurance

politics1 month ago•7 min saved

California Lawmakers Reject Newsom’s Wildfire Liability Overhaul, Settling for Narrower Reform

California Governor Gavin Newsom failed to pass his comprehensive plan to shift wildfire liability costs from utilities to insurers and victims. Democratic lawmakers rejected key provisions, including the elimination of subrogation and caps on victim damages, citing opposition from insurance companies and fire survivors. The final compromise, Senate Bill 492, includes faster payout mechanisms and bans on hedge fund profits but leaves the core financial structure unchanged. Newsom called the result a partial reform and urged the legislature to address structural issues in the next session.

via Politico|

#california #gavin-newsom #legislature

politics1 month ago•2 min saved

California Wildfire Deal: Newsom Concedes on Utility Cost-Shifts, Secures Faster Payouts

Gov. Newsom and state lawmakers reached a compromise on wildfire liability, dropping the governor's push to shift costs to insurers in exchange for faster victim payouts and stricter utility oversight.

via KCRA|

#california #legislature #newsom

politics1 month ago•129 min saved

Newsom seeks legal shield for utilities against escalating wildfire costs

California Gov. Gavin Newsom is pushing a plan to shield electric utilities from ballooning wildfire liabilities and to rethink who bears wildfire recovery costs, with lawmakers facing an Aug. 31 deadline to craft a deal. The effort follows Newsom’s prior push for funding to bolster a wildfire fund, including an $18 billion proposal that the Legislature already approved last year. Economists and survivors’ advocates warn that liability could be shifted away from utilities and onto ratepayers or communities, while supporters say a liability shift is needed to avoid destabilizing power reliability and funding for fire recovery.

via AP News|

#california #legislation #newsom

energybusiness1 month ago•13 min saved

Private Equity Bets on Utilities as AI Strains the Grid

Private equity firms are racing to buy or finance utility assets as AI-driven demand from hyperscale data centers spurs a wave of energy infrastructure investment. Utilities are selling non-core assets to raise cash, while policymakers warn a 'shadow grid' built by tech giants could bypass traditional oversight and slow grid modernization. High-profile projects—Amazon’s Texas gas plant and Nvidia’s alliance with SoftBank and the U.S. government to power an OpenAI project in Ohio—illustrate the trend, though experts caution most cost pressures come from transmission and distribution rather than supply, and argue private capital should back upgrades to the aging grid rather than create parallel networks.

via Yahoo Finance|

#ai-energy-demand #data-centers #energy-infrastructure

politics1 month ago•9 min saved

Newsom’s final wildfire-cost gamble tests California’s finances

With only months left in his term, Gov. Gavin Newsom is pushing an eleventh‑hour bill to cap utility liability for wildfires, bar insurers from buying loss claims, and create a state fast‑pay program for survivors—reforms that could reshape wildfire financing but draw fierce opposition from insurers, local officials, and victims who fear higher rates or undercompensation, while supporters say the package is needed to preserve California’s power system and address escalating wildfire costs.

via Politico|

#california-policy #gavin-newsom #insurance

business2 months ago•49 min saved

BNPL Lenders Expand Financing to Daily Essentials

BNPL lenders such as Flex, Zip, and Affirm are expanding from shopping purchases to financing everyday bills—broadband, electricity, health insurance, mobile service, mortgages and water bills, and even rent—positioning BNPL as working capital for households. The market moved about $160 billion last year, still a fraction of total credit-card spending, but analysts warn that using BNPL for essentials can raise costs and trap borrowers in debt as households face higher living expenses and limited alternatives.

via Slashdot|

#bnpl #business #consumer-debt

energy-and-climate2 months ago•3 min saved

Cyberattacks Reveal Weak Links in America's Water System

Suspected Iran-linked cyberattacks are highlighting chronic gaps in the United States’ drinking-water systems, which are fragmented and aging and increasingly stressed by climate risks. Utilities—particularly smaller ones—struggle with staffing and funding to boost cybersecurity while also upgrading aging pipes, with the EPA identifying vulnerabilities at 277 systems last year. The American Water Works Association is pushing for nationwide minimum cybersecurity standards and federal support as authorities balance cyber defense with infrastructure modernization amid a changing climate.

via Axios|

#climate-resilience #cybersecurity #energy-and-climate

business2 months ago•1 min saved

PGE pushes new rate case seeking 3.9% residential rise to fund grid upgrades

Portland General Electric asks Oregon's Public Utility Commission for a general rate increase of 4.8% overall (effective July 1, 2027), with residential customers facing about a 3.9% average bill rise (roughly $8.33/month for 780 kWh) to fund electric grid upgrades, wildfire-risk line rebuilds, and 600,000 upgraded meters. The filing follows prior hikes since 2022 and recent 29% increases for large data centers under the POWER Act; PGE also proposes capping annual base rate hikes in 2028–2029 to inflation, with a public review process to evaluate investments.

via KPTV|

#business #data-centers #oregon

business3 months ago•9 min saved

AI-Powered Utilities Set for a Record $240B Spend in 2026: Stocks to Watch

AI is driving utilities to invest as much as $240 billion in 2026 to meet data-center power demand, but regulators may limit passing all costs to consumers. The piece suggests investors focus on power providers and services outside regulated grids, highlighting Brookfield Renewable Partners and NextEra Energy as attractive dividend plays, with Bloom Energy offering AI-ready fuel cells but at a stretched valuation. In short, choose players with contract-backed power and dependable yields over momentum plays with lofty multiples.

via The Motley Fool|

#ai #business #investing

technology4 months ago•7 min saved

GM Enables Bidirectional EV Charging to Power Homes—and the Grid

GM has activated bidirectional charging for GM Energy customers, enabling thousands of GM EVs to feed power back to homes and potentially the wider grid. While about 250,000 GM EVs are technically capable, actual use hinges on installing a $20,000 GM Energy system and securing utility programs that pay owners for grid support; pilots with utilities like DTE Energy and PG&E seek to prove viability, but broader adoption will require interoperability with many utilities and favorable policy.

via WIRED|

#bidirectional-charging #electric-vehicles #gm-energy

business5 months ago•8 min saved

AI’s power play: NextEra-Dominion megamerger could steer America's data-centre future

NextEra Energy and Dominion Energy unveiled a $420bn megamerger to consolidate the eastern US electricity grid that underpins the AI data‑centre boom in Virginia’s “data centre alley,” backed by a claimed 130 GW of data‑centre demand. The deal values Dominion at about $76 a share (enterprise value ~ $124bn including $56.7bn debt) and faces a lengthy regulatory path—roughly 18 months—with a $4.8bn break fee if blocked. To ease consumer fears over higher power costs amid the AI infrastructure rush, NextEra has pledged $2.2bn in bill credits for customers in Dominion’s service areas.

via Financial Times|

#artificial-intelligence #business #mergers-and-acquisitions