The coal-fired power industry in the U.S. is facing the biggest plunge in asset values in a decade, risking billions of dollars in pollution-control spending by utilities such as Exelon Corp. and American Electric Power Co.
Constellation Energy Group Inc. pulled out of negotiations on a $7.5 billion loan guarantee to build a nuclear reactor in Maryland with Electricite de France SA , potentially damaging the French utility’s U.S. expansion plans and the companies’ partnership.
Dynegy Inc., the owner of power plants in 11 U.S. states, said its fourth-quarter net loss narrowed as energy contracts gained in value. The company’s shares rose in New York after earnings topped estimates and Dynegy reported $2 billion in liquidity.
Entergy Corp. , the second-largest owner of U.S. nuclear reactors, may sell its Vermont Yankee reactor after Vermont voters elected a governor who has opposed extending the plant’s operating life beyond 2012.
Google Inc. , the Web company that a decade ago used engineering prowess to conquer the nascent online advertising market, is now aiming technology and its cash pile at another fledgling industry: offshore wind farming.
Exelon Corp. , the largest operator of U.S. nuclear power plants, is near agreement to buy Constellation Energy Group Inc . for about $7.7 billion, adding stakes in five reactors in Maryland and New York, according to a person with knowledge of the matter.