In what is being seen as a setback for California’s utility companies, the state regulators have decided a status quo on the system dubbed ‘net energy metering’ that pays solar homeowners for the excess electricity used by them.
The development is being seen as a victory of sorts for the...read more
PBF Energy Inc's purchase of Mobil Corp's California refinery marks Chairman Tom O'Malley's biggest bet on US refining in the country's toughest market. Under the $537.5 million deal PBF will buy Exxon's 55,000 barrels per day plant in Torrance with dock, storage and pipeline infrastructure....read more
Reports have shown that the US solar market is on fire. Installation of solar panels is expected to soar by one-third this year. The price of solar power is now cheap enough and can efficiently compete with gas and coal-fired power in places like California.
President Obama has also...read more
On Wednesday, a judge ruled that Southern California Edison executives were involved in inappropriate talks with California utility regulators in relation to the San Onofre nuclear power plant that is now closed. The judge said that the company could be charged with millions of dollars in...read more
California motorists are experiencing a notable increase in gas prices, and the average price of the fuel could top $4 per gallon before easing again, industry analysts said.
While the nationwide gas prices are on the decline, average price of the fuel in Los Angeles jumped 9 cents to $3....read more
The California Public Utilities Commission on Friday approved changes that will radically revamp the way electricity rates work in the state by narrowing the gap between prices paid by poor and rich consumers.
The implementation of the changes means those Californians are using very...read more
Wednesday saw the shares of Hanergy Thin Film Power Group Ltd plummeting as much as 47 percent, before being altogether suspended from trading, pending a company announcement. The fall cost the firm about $19 billion in market capitalization in just about half an hour.
Hanergy Thin Film...read more
The recent strength in crude oil prices has led to an increase in the gas prices across the country. The gas prices on an average increased by 22 cents over the last three weeks. A Lundberg survey released on Sunday has found average price rising to $2.82 per gallon.
After the crude oil...read more
Elon Musk recently announced Tesla Energy’s energy storage solutions for home and business users. However, the analysts remained unimpressed about Tesla’s prospects of profitability with its battery product.
For the current year, the consensus adjusted EPS estimate for Tesla has followed...read more
People who are protesting against Arctic oil drilling are planning to go in kayaks to reach Shell's huge offshore drilling rig. This decision has been taken by protesters as it may arrive any day in Seattle, causing rise in stakes in the conflict over oil exploration in Arctic Ocean.
Elon Musk announced Tesla Energy will provide batteries for storage of power for home, business and industry usage. The announcement made by Musk on April 30 could lead to a major shift in the way we use batteries for storage of power. Solar power sector could get a massive boost from Tesla...read more
Duke Energy reported on Friday that its first quarter earnings were better than expected. It was a result of high demand triggered by harsh winter at the beginning of the year. The Charlotte-based utility company reported earnings of $1.24 a share for the three months that ended March 31. The...read more
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