NewEnergyNews: QUICK NEWS, August 13: Utility Giant’s CEO Talks Fires And Climate Change; A Buyer’s Market For New Energy


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    Monday, August 13, 2018

    QUICK NEWS, August 13: Utility Giant’s CEO Talks Fires And Climate Change; A Buyer’s Market For New Energy

    Utility Giant’s CEO Talks Fires And Climate Change Facing $17 Billion in Fire Damages, a CEO Blames Climate Change

    Mark Chediak, August 13, 2018 (Bloomberg News)

    “…[California authorities don’t yet know the cause of some of the 2017 and 2018 wildfires], but the region’s giant utility, PG&E Corp., sees a culprit at work -- climate change. The blazes in recent years, it said, are the latest example of how global warming has produced unusually hot, dry conditions that spawn more frequent and intense fires. ‘Climate change is no longer coming, it’s here,’ Geisha Williams, chief executive officer of PG&E, said in an email. ‘And we are living with it every day.’ Scientists tend to agree…But California’s biggest utility has an especially compelling reason to link the fires to the environment. State investigators have tied PG&E equipment, such as trees hitting power lines, to some of the blazes…It faces damage liabilities totaling as much as $17 billion, and possible financial ruin -- its stock is down about 37 percent since the fires -- unless Williams can convince California lawmakers that the company’s problem is, in fact, a climate change problem…” click here for more

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    A Buyer’s Market For New Energy It's a buyer's market for renewable energy procurement

    Heather Clancy, August 3, 2018 (GreenBiz)

    “…[B]usinesses already have disclosed at least 31 transactions for solar, wind and other renewable generating sources this year…[That is] more contracts for clean power in the first half of 2018 than for all of 2017, according to ongoing research by the Rocky Mountain Institute's Business Renewables Center…One model that many companies are especially eager to see mature is aggregation — deals in which multiple companies come together in order to sign up for the power generated by a new solar or wind project. The notion is that this sort of deal structure will enable more midsize and smaller organizations to more directly procure renewable energy…[The offtake requirements are much smaller, less than 20 MW, and the tenure requirements are] shorter…” click here for more

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