Market Turmoil | $53M Fine | $1.1B Acquisition
TGIF
The spread of the coronavirus is impacting energy markets worldwide. We have gathered up several important stories as unease over the rapid spread of COVID-19 is continuing to drive markets.
After dominating the energy news for well over a year, Columbia Gas of Massachusetts has agreed pay a $53 million fine as part of a guilty plea to a felony violation of the Pipeline Safety Act. On Wednesday the company took “full responsibility for the tragic events of September 13, 2018, that so impacted our customers throughout the Merrimack Valley.”
On Wednesday evening, Eversource Energy, announced that it has reached an agreement to purchase Columbia Gas of Massachusetts’ natural gas assets from its parent company, NiSource, for $1.1 billion. NiSource will cease doing business in the Commonwealth and profits from the sale will be turned over to the federal government under the agreement with the U.S. Attorney’s office.
Have a great weekend!
Coronavirus and Energy
Coronavirus cuts Chinese carbon emissions by up to 25 percent, Ars Technica
Blue skies return to China as coronavirus cuts coal consumption, NIKKEI
Coronavirus Is Starting to Slow the Solar Energy Revolution, Bloomberg
Climate and Coronavirus Dominate Oil Industry’s Biggest Summit, Bloomberg
Oil falls for fifth day on demand concerns as coronavirus spreads, CNBC
Trump Insists on Paying for Coronavirus Prep by Cutting Heating Aid for the Poor, New York Magazine
Natural Gas/Oil/Pipeline/Drilling
Final Approval Expected In $143 Million Columbia Gas Explosions Settlement, CBS Boston / WBZ
Columbia Gas plea puts spotlight on the Massachusetts Department of Public Utilities, MassLive
Rivera: Fine should go to gas disaster victims, Eagle-Tribune
National Grid offers options to meet projected gas supply constraints, Newsday
Natural gas ransomware attack offers critical lessons for electric utilities, analysts say, Utility Dive
Legislators ask federal regulators to inspect compressor site, Patriot Ledger
Climate Change/Renewables/RGGI
The Key to New York’s Green Dreams May Be Turning Quebec Into a Mega-Battery, Bloomberg Green
Voters Really Care About Climate Change, The Atlantic
On Rising Great Lakes, Backyards Are Disappearing Overnight, Wall St. Journal
Cape coalition asks towns to declare ‘climate change emergency,’ Cape Cod Times
Climate change could be a ‘catastrophic’ national security threat, report warns, USA Today
New York Governor Takes Aim at State’s Onerous Renewables Permitting Regime, Greentech Media
Niagara County forming group to confront large-scale energy projects, Niagara Gazette
Wind
US offshore wind is ‘currently uneconomical,’ ReNews.biz
New wind turbine project in Washington County approved by Commissioners, WABI (Maine)
Permitting for big wind farms could get a lot faster under new Cuomo proposals, North Country Public Radio
Greentown Labs, Vineyard Wind Expand Offshore Wind Innovation, North America Windpower
How Goes It? Report from Block Island About Their Offshore Wind Farm, Dan’s Papers
Solar
R.I. encourages solar panels as canopies on parking lots. Will that really steer solar farms away from forests and other open spaces?, Providence Journal
House Bill Would Require Homeowners Associations To Allow Solar Installations, New Hampshire Public Radio
The Solar Industry’s New Power Player: Oil Majors, Greentech Media
Energy Efficiency/Storage
NJ’s Two Biggest Utilities Finish Near Bottom on New Energy-Efficiency Scorecard, NJ Spotlight
Massachusetts policies help Eversource, National Grid lead on energy efficiency while Southeast lags: ACEEE, Utility Dive
The Key to New York’s Green Dreams May Be Turning Quebec Into a Mega-Battery, Bloomberg
EVs
Transportation is ‘climate enemy #1’ — EVs and behavioral changes are the answers: report, Utility Dive
How to maximize the life of your electric car’s battery, according to science, Mashable
A Cobalt Crisis Could Put the Brakes on Electric Car Sales, Wired
Nuclear
NDCAP not reassured by NRC claims about Pilgrim Station decommissioning, Wicked Local Plymouth
The US government insurance scheme for nuclear power plant accidents no longer makes sense, The Bulletin of the Atomic Scientists
Market/Grid/Policy/Prices
Eversource exec says restoring trust top priority following Columbia Gas purchase, Boston Herald
Firm did ‘independent study’ of electric line while working for energy giant that could make billions from it, Bangor Daily News
Solar and wind power are pushing down electricity prices in New England, but carbon fuels still dominate, Hartford Courant
LePage says he was paid to advocate for hydropower corridor, Portland Press Herald
Power Opposed, The Telegraph
Editorial/Opinion
Would You Pay Higher Gas Prices to Slow the Climate Crisis?, New York Times
Coronavirus Sickens an Ailing Energy Bond Market, Bloomberg
Northeast Energy News 