Author: Graham Foster

Dive Brief: The Public Utility Commission of Texas recently approved Entergy’s resilience plan, which involves investing $137 million for various grid improvements. This includes projects like placing power lines underground, upgrading high-voltage transmission lines, and enhancing local distribution systems. However, the Commission declined Entergy’s additional request for $198 million in funding for further projects, which the utility aimed to pay for through the Texas Energy Fund. In 2023, Texas lawmakers mandated that electric utilities submit resiliency plans to bolster grid reliability. Oncor Electric’s plan was the first to receive approval last November. Dive Insight: The approval marks the initial phase…

The Federal Energy Regulatory Commission (FERC) has recently given a conditional nod to Markets+, a new trading platform from the Southwest Power Pool. This exciting development is aimed at boosting real-time and day-ahead energy trading in the West, set to launch in 2027. At a recent meeting, FERC Chairman Willie Phillips emphasized the frequent economic advantages that markets can bring to consumers. He noted that market operations also enhance the reliability of energy supply, particularly during high-demand periods. FERC Commissioner Lindsay See remarked on the significance of this decision for enhancing energy reliability and affordability across the Western regions. Fellow…

BP has announced it will lay off around 4,700 employees, which is more than 5% of its workforce, as Chief Executive Murray Auchincloss looks to cut costs and improve the company’s underperforming stock price. The oil giant is also reducing its reliance on contractors by cutting 3,000 positions this year, with many already let go, according to a memo sent to staff on Thursday. In his memo, Auchincloss highlighted that BP is making “strong progress” in transforming into a “simpler, more focused, higher-value company.” Taking on the role of permanent CEO just a year ago, Auchincloss has been under pressure…

Oilfield services giant SLB, formerly known as Schlumberger, is facing increasing pressure to exit Russia. The company asserts that its operations remain compliant with the new sanctions targeting Russia’s oil sector, which were introduced by the Biden administration. During a conference call with investors, CEO Olivier Le Peuch mentioned that SLB is currently reviewing the recent sanctions but believes its activities align with the regulations. SLB has reported that contributions from its Russian operations account for around 4% of its global revenues in 2024, dropping from 5% the previous year, translating to approximately $1.4 billion. Renewed scrutiny from U.S. lawmakers…

The reality of climate change is becoming harder to overlook. With the occurrence of extreme heat, raging wildfires, and severe storms affecting both the United States and Europe over the past year, the consequences have been significant for human life, the environment, and the global economy. To address these pressing issues, a swift transition to clean and renewable energy is essential. This shift needs to not only meet the global energy demands but also lessen our dependence on fossil fuels that contribute to climate change. However, this transition comes with its own set of challenges, particularly regarding the need for…

New Texas Virtual Power Plant Aims to Cut Energy Costs A recently launched virtual power plant in Texas plans to harness residential solar and battery systems to help manage power loads and offer additional services to the grid. This initiative could potentially lower electricity prices for participants by up to 40%, according to a statement from sonnen USA and SOLRITE Energy. Under a program known as a “virtual power plant power purchase agreement” (VPA), homeowners can acquire solar panels and two 20-kWh batteries from sonnen without any initial costs. The program had already enrolled more than 40 megawatts of capacity…

Donald Trump’s nominee for secretary of the interior, Doug Burgum, has raised concerns that the U.S. could fall behind China in the “AI arms race” if it doesn’t increase its electricity generation from fossil fuels. During a Senate hearing on Thursday, Burgum, a billionaire and former governor of North Dakota, described a current “electricity crisis,” citing issues with the power grid and obstacles that prevent the construction of fossil fuel plants that offer consistent power. Burgum emphasized that the Trump administration would focus on providing more public land for oil drilling and would cut tax breaks for renewable energy sources,…

Rio Tinto and Glencore have held discussions about merging parts of their businesses, reflecting a broader trend in the mining industry as companies seek to secure vital metals for the energy transition. These talks, which took place as recently as October last year, did not lead to a formal agreement. With market values of $103 billion for Rio Tinto and $55 billion for Glencore, a merger between the two would mark one of the biggest transactions in mining history. The discussions followed BHP’s unsuccessful bid for Anglo American, prompting other companies to reconsider their strategic plans. BHP’s interest in Anglo…

Welcome back to Energy Source, coming live from New York. Today, the spotlight is on Washington as confirmation hearings commence for Donald Trump’s nominees for key energy positions. Former Congressman Lee Zeldin has been selected to lead the Environmental Protection Agency, while North Dakota Governor Doug Burgum has been tapped to oversee the Department of Interior as part of Trump’s pro-fossil fuel agenda. In yesterday’s hearings, Senate Democrats questioned Chris Wright, Trump’s nominee for energy secretary, about his views on climate change. He acknowledged that emissions from hydrocarbons contribute to global warming. Additionally, BP’s CEO Murray Auchincloss is facing scrutiny…

The U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) has called for proposals from American manufacturers focusing on small and medium-sized wind turbines. This initiative aims to enhance the availability of distributed wind energy technology across the country. This request is part of the Competitiveness Improvement Project, which is set to provide as much as $2.5 million to manufacturers creating turbines with a capacity of less than 1 megawatt. The goal is to aid in the commercialization and market growth of distributed wind energy technology. Chris Connor, a principal engineer at NPS Solutions, a recipient of a Competitiveness Improvement…