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Capacity prices nearly double in largest U.S. power market

By: Jeffrey Tomich | The cost of ensuring adequate available generation in the nation’s largest power market surged as power plant operators raised offer prices to offset lower energy revenues and fewer new natural gas plants coming online. PJM Interconnection yesterday said clearing prices for capacity across much of its 13-state footprint nearly doubled to … Read more

PUC cuts utility rates to reflect lower federal taxes

By: Joel Berg | Pennsylvania businesses and residents will see lower costs for water, electricity and natural gas starting July 1 under action taken today by state utility regulators. The Pennsylvania Public Utility Commission on Thursday approved rate cuts for 17 utility companies, reflecting newly lowered corporate taxes. The cuts take effect July 1 and … Read more

Utility says power plants will stay open during bankruptcy

By: Lancaster Online | Attorneys for FirstEnergy Solutions say the company’s coal and nuclear power plants will keep producing electricity while the company undergoes reorganization under bankruptcy. The FirstEnergy Corp. subsidiary told a U.S. Bankruptcy Court judge in Akron that it should have enough money to remain operating and pay its employees during the reorganization. … Read more

PECO files for $82M electricity delivery rate increase

By: Donna Rovins | PECO filed a request Thursday with the Pennsylvania Public Utility Commission for approval of an $82 million increase in the rates is charges customers for the delivery of electricity. The increase would raise a residential customer’s bill by 3.2 percent. The same filing includes PECO’s proposed plan to provide annual tax … Read more

Utility plans to close nuclear plants in Ohio, Pennsylvania

By: John Seewer | FirstEnergy Corp. said it will shut down three nuclear plants in Ohio and Pennsylvania within the next three years, making it the latest U.S. utility to announce closings as the nuclear industry struggles to compete with electricity plants that burn plentiful and inexpensive natural gas. The company announced the closings on … Read more

PUC to update Pa. electricity-shopping rules

By: Andrew Maykuth | The Pennsylvania Public Utility Commission has launched a process to revise the way competitive electricity suppliers post their prices. The aim is to more accurately reflect customer costs, including any fees. The PUC initiated a “rulemaking” process Thursday that would include a new requirement forcing suppliers to disclose the actual price per … Read more