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Energy News

PG&E blackouts spur sales of BoxPower solar/battery units

California’s recent power blackout episode triggered the strongest sales ever for BoxPower Inc., the maker of a turnkey solar power and battery unit in a box.

The Grass Valley company builds self-contained and automated solar power systems out of shipping containers or on shipping pallets.

Co-founder Anderson Barkow said last week, as Pacific Gas & Electric Co. shut off power to 734,000 homes and businesses in 35 California counties, BoxPower saw its “busiest week in terms of inquiries ever.”

The…

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Energy News

PG&E rejects San Francisco’s offer to buy utility’s wires in the city

PG&E rejected San Francisco’s offer to buy the bankrupt utility’s wires within the city for $2.5 billion, saying the deal undervalues the company’s assets.

“We cannot accept your offer,” PG&E CEO Bill Johnson said in an Oct. 7 letter to San Francisco Mayor London Breed. “If we ever do consider such sales, we have a duty to obtain the highest and best value for these assets.”

PG&E provided a litany or reasons for why the purchase offer is a bad deal in the letter that starting getting…

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Oil and gas holding steady despite M&A slump

Despite the negative numbers coming out about mergers and acquisitions activity, there’s one sector that’s holding surprisingly steady: U.S. oil and gas.

According to an Oct. 2 report by Austin-based Enverus (the new name for Drillinginfo), U.S. oil and gas M&A surpassed $17 billion in the third quarter, maintaining the momentum established in the second quarter.

The data provider said the quarterly total approaches the 2016-18 quarterly average of $19 billion and puts year-to-date M&A at more…

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Energy News

Another company comes forward to express interest in taking JEA private

American Water, a New Jersey-based public utility company, has confirmed that it has bid on JEA — the fourth of 17 bidders to identify itself in a process that so far remained shrouded in secrecy.

American Water has a 25 million-gallon-per-day desalination plant in Tampa, which supplies about 10 percent of the drinking water for the Tampa Bay area, and a Homeowner Services partnership with Orlando Utilities Commission.

“American Water has responded to JEA’s Invitation to Negotiate, and…

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CNX reaches deal with DEP on plugging abandoned wells

CNX Resources Corp. has reached a settlement with the Pennsylvania Department of Environmental Protection on plugging 141 abandoned conventional and unconventional wells in four counties in southwestern Pennsylvania.

Under the consent order released Friday, CNX (NYSE: CNX) will post a $1.48 million performance bond and submit a schedule on its plans to plug the wells that are in Washington, Westmoreland, Greene and Allegheny counties. DEP said that the wells are conventional coal-bed methane and…

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Energy News

Viewpoint: As PG&E faced a huge crisis, its CEO was MIA

Where was Bill Johnson?

Despite the utility enduring a four-day, self-inflicted power crisis gripping the whole Bay Area, the CEO of PG&E did not appear on the evening news. He did not address the public. He did not give interviews to any print publications, according to Lexis/Nexis and Google searches.

It wasn’t until late Thursday evening that the CEO stepped up to a podium and took responsibility for the outage, just as the utility was preparing to begin the arduous task of turning the lights…

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BP nears $10B divestment goal early, will take multibillion-dollar writedown

London-based BP PLC (NYSE: BP), which has its U.S. headquarters in Houston, on Oct. 11 shared an update on progress the company has made on its $10 billion divestment program.

When BP first announced the program after its $10.25 billion acquisition of BHP assets, the London company planned to complete the divestments over the course of 2019 and 2020.

Now, BP expects to have $10 billion worth of divestments completed or agreed to by the end of 2019, according to an Oct. 11 press release. However,…

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