Hints and tips:
...Ralph Izzo, chief executive of PSEG, told analysts on the company’s second-quarter earnings call on July 31 that the generating units were depressing his share price....
...PSEG is backing Orsted of Denmark in building the 1,100-megawatt Ocean Wind project 15 miles off New Jersey’s beaches....
...Ralph Izzo, PSEG’s chief executive, told the Financial Times that its customers’ bills had dropped 30 per cent over the past 10 years, principally because of the plunge in the cost of gas caused by the shale...
...The PSEG annual report said cash receipts from utility customers declined $249m due to warmer weather in 2016, but it had petitioned regulators to collect $54m from them under weather normalisation....
...In its first disposal since May’s share price plunge, HTF this week agreed to sell a 25 megawatt solar farm in California to PSEG Solar Source, a US company, for an undisclosed sum....
...Mr Cuomo suggested on Tuesday that Lipa’s responsibilities could be handed to another utility, naming Consolidated Edison, National Grid and New Jersey’s PSEG as potential candidates....
...Rival US operator PSEG is scheduled to replace National Grid as operator of the Long Island Power Authority on January 1, 2014....
...PSEG has already spent about $1.6bn on upgrading three of its power plants....
...Past attempts at large power utility deals in the US, including Constellation’s proposed merger with Florida Power and Light, and Exelon’s with PSEG of New Jersey, were stymied by regulators....
...The 10-year debt came with lower proposed interest payment than the previous records set by PSEG and McDonald’s in recent deals, while the coupon on the 30-year bonds J&J sold was lower than for a recent...
...Similarly, Ralph Izzo, chief executive of New Jersey-based energy company PSEG, reports problems in winning approval for new lines....
...US utilities have also participated in the dealmaking activity, but transactions such as FPL’s $11.5bn takeover of Constellation and Exelon’s $13bn bid for PSEG have encountered stiff regulatory hurdles....
...The more favourable regulatory environment has led to a series of deals, including Exelon’s $13bn bid for PSEG, Duke’s planned acquisition of Cinergy and FPL’s $11.5bn purchase of Constellation Energy....
...This has opened up more opportunities for growth through acquisition, and the sector has recently seen Exelon’s $13bn bid for PSEG, Duke’s planned acquisition of Cinergy and FPL’s $11.5bn purchase of Constellation...
...The Federal Energy Regulatory Commission recently approved the planned purchase of PSEG by Exelon to create the largest US power producer, though the deal still has to secure other clearances....
...Duke, based in North Carolina, will remain the second largest US utility after Exelon, which agreed to buy PSEG of New Jersey for $13bn five months ago....
...In June, however, British Energy appointed a chief nuclear officer in the person of Roy Anderson, then president of PSEG Nuclear and former CNO of several other US utilities....
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