PECO Energy Co. has signed a definitive agreement to purchase 49.9 percent of Sithe Energies' North American businesses for $682 million, with an option to purchase 100 percent of the company within two to five years.
The March decision by the Nuclear Regulatory Commission to renew the operating license at Constellation Energy's Calvert Cliffs station set the wheels rolling on what is expected to be a busy renewal bandwagon. While the decision itself was not a surprise, its implications for future generation trends are not yet clear.
The merger of Peco Energy Co. and Unicom Corp., parent company of Commonwealth Edison, has received FERC approval. Several regulatory approvals are still needed. The merged entity will be called Exelon Corp.
Southern California Edison has six new vice presidents: James Scilacci, CFO; Stephen E. Pickett, general counsel; Andrew L. Grant, transmission; Holly Kolinski, mass customers; David Ned Smith, major customers; and Dale E. Shull Jr., electric distribution.
Despite the Wave of New Power Plant Development, Opportunities Abound at Existing Facilities to upgrade aging facilities, boosting capacity, increasing efficiency, reducing generation costs and cutting emissions.
The U.S. Energy Information Administration has released its Annual Energy Outlook 1998, with projections through 2020. Using the National Energy Modeling System, EIA predicts the near-term energy future will include more consumption, production, imports and emissions. Real prices for electricity, on the other hand, are expected to decline. Prices for petroleum and natural gas are expected to climb slightly with coal falling slightly.
AlliedSignal and MTU München have agreed to form a joint venture company called Vericor Power Systems to market, sell and provide customer support for aeroderivative industrial and marine gas turbines from 0.5 to 15 MW.
Robert Ruscitto, Boston Edison Co. vice president, has resigned in the aftermath of problems restoring power after a December snow storm left 600,000 homes across New England without electricity. Three other managers also left, although Edison declined to state the terms of their departures. They are William S. Clancy, manager of customer service for the western suburbs; Stephen J. Murphy, in charge of overhead and underground wires in Greater Boston; and Stephen P. Martin, manager of Edison?s F
Westinghouse Electric Corp. has announced plans to close its Pensacola, Fla., assembly plant, consolidating assembly for combustion turbine and electric generator products at factories in Charlotte, N.C., and Hamilton, Ontario, Canada. The consolidation begins this year and will be complete by the end of 1997.
¥Montaup Electric Co. is purchasing air emissions credits from New England Power Co. through MassIMPACT, a state program allowing companies that cut emissions further than required by law to save the additional reductions as credits to trade or sell.