Sam Brothwell News
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MidAmerican Energy Holdings Co., one of the Berkshire Hathaway Inc. units that billionaire Chairman Warren Buffett relies on to deploy profits, is scaling back its targets for capital spending.
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Public Service Enterprise Group Inc., owner of New Jersey’s largest utility, plans to spend $3.9 billion during the next decade to protect its power and gas network from natural disasters.
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The pace of power restoration following Hurricane Sandy has fallen behind that of last year’s Hurricane Irene, when utilities promised to make improvements after being lambasted by consumers and local lawmakers for their slow response.
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A damaged Florida nuclear plant that spurred a boardroom coup at Duke Energy Corp. in July risks getting scrapped unless the power company can justify spending more than $1.3 billion on the costliest-ever U.S. atomic repair.
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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.
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Southern Co., Edison International and rival power companies won a legal fight with the Environmental Protection Agency, gaining more time and leeway to cut pollution from burning coal. The bigger challenges from cheap natural gas may make it a muted victory.
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A shale-driven glut of natural gas has cut electricity prices for the U.S. power industry by 50 percent and reduced investment in costlier sources of energy.
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The governors of Oklahoma and Colorado met with executives from General Motors Co., Ford Motor Co. and Fiat SpA’s Chrysler Group LLC, to ask for more cars and trucks with engines that run on compressed natural gas.
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A federal court threw out a U.S. Environmental Protection Agency rule aimed at cutting pollution from coal-fired power plants, dealing a blow to the Obama administration’s efforts to curb harmful emissions.
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The surging pace of power-industry consolidation, with more than $31 billion in transactions pending in the U.S., is giving state officials such as Maryland Governor Martin O’Malley leverage to wrest more clean-energy investments from merging companies.
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