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FERC seeks input on credit and capital issues faced by electric power industry

On January 13, the Federal Energy Regulatory Commission (FERC) spent the afternoon at the table discussing the effect of the current market situation on critical issues affecting the electric power industry. I listened in on the four-hour meeting via live webcast with some trepidation, but came away at the end of it all feeling more hopeful about the industry’s future, despite clear indications that the cost of capital has significantly increased in recent months, making some planned projects, and access to capital for business operations, more difficult.

Two panels were convened over the course of the afternoon, made up of representatives across the industry spectrum. This article will cover the first panel’s discussion of access to capital and the cost of capital for operations and long-term investment. Here is a brief snapshot of what FERC commissioners heard from the industry.

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first published week of:   01/26/2009

Fourth sewage gusher in Town ‘N Country stumps water agency

In Town ‘N Country, Hillsborough County, the sewage pipe on Comanche Avenue between Hanley Road and Sweetwater Creek has ruptured and been repaired three times in seven months, with the latest repair on March 25. The fourth break, which began at 11:40 a.m. March 28, was shut off at 1:40 p.m. Testing has found no integrity problems with the 20-inch pipe or the engineering, said a spokeswoman for the county’s Water Resource Services. She said the investigation will continue to try to find the reason behind the frequent ruptures. In the meantime, the county will station an employee on the road 24 hours a day to improve the response time if there is another rupture. And the third break on March 25 accelerated county plans to build a bypass to the 755-foot section of pipe that will be replaced, she said. Until the bypass is complete, the county will limit traffic and prohibit parking on that stretch of Comanche Avenue because a parked sport utility vehicle was damaged in the recent break. In the first spill on September 12, 200,000 gallons of sewage poured into a small retention pond and then overflowed into Sweetwater Creek. Just one month later, 1.8 million gallons of sewage polluted the creek in an overnight break. On March 25, Water Resource Services estimated that 460,000 gallons flowed before the lines were shut down. That spill flowed for two hours like the March 28 break, the spokeswoman said.

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first published week of:   04/06/2009

FPL upgrades dim power outages

Florida Power & Light Co. spent 64 percent more money in 2008 to fortify power lines and poles that deliver power to customers, while the average time customers spent without power decreased 8 percent. FPL, the state’s largest utility, said in a report to the Florida Public Service Commission on March 2 that it will spend $200 million this year to beef up the grid, trim trees along power lines, and inspect and repair power lines and poles. “While these investments are designed to respond to the potential for more frequent, more powerful hurricanes, they are also delivering customer benefits by enhancing day-to-day reliability as well,” the FPL president said in a statement. To upgrade its power distribution system, FPL spent $47 million in 2007 and $77 million last year, and plans to spend $85 million this year. FPL customers were without power due to distribution problems — not including major weather-related outages — 67 minutes last year, compared with 73 minutes the year before, an 8 percent drop. That is the best average time ever for FPL and better than the national average, the utility said. The amount of time customers were without power due to problems with its transmission system, which carries power from power plants to substations, more than tripled to 13 minutes last year from 4 minutes the year before. That is because of an outage on February 26, 2008, that left 600,000 homes and businesses in Florida without power for an average of one hour

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first published week of:   03/09/2009

fPL, GE, Cisco team up on Miami Smart Grid

The Miami mayor announced on April 21 a plan to use federal economic stimulus funds to help spur a $200 million investment in smart grid technology and renewable energy over the next two years. The initiative, called “Energy Smart Miami,” brings together General Electric, Cisco Systems, Silver Springs Networks and utility Florida Power & Light (FPL). The backbone of Energy Smart Miami will be the deployment of more than 1 million advanced wireless “Smart Meters” to every home and most businesses in Miami-Dade County. These meters will give FPL customers more information and control over their electricity usage while also providing FPL with information that will enhance system efficiency and reliability.

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first published week of:   04/27/2009

Gang of 10 flips switch on energy legislation

Gasoline prices have moderated significantly since Congress stalemated over energy legislation during the summer, but lawmakers say that hasn’t dampened the need to address energy supply and conservation.

Senators in the bipartisan self-named “Gang of 10,” who announced a compromise proposal earlier this year, say they still plan to formally unveil their legislation when Congress reconvenes in the new year.

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first published week of:   01/12/2009

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Volume 31

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