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Offshore Wind Projects Receive Boost from Massachusetts and Biden Administration

LCG, March 31, 2021--The Governor of Massachusetts signed legislation last Friday that authorizes the state to direct utilities to purchase an additional 2,400 MW of offshore wind energy by 2027.

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NV Energy's Greenlink Nevada Transmission Project Approved by PUCN

LCG, March 25, 2021--The Public Utilities Commission of Nevada (PUCN) on Monday approved proceeding with NV Energy's Greenlink Nevada transmission and renewable energy initiative. NV Energy's planned investment in Greenlink is over $2.5 billion.

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Industry News

CMS Energy To Exit Exploration, Production of Oil and Gas

LCG, May 30, 2002--The Michigan-based gas and electric utility CMS Energy, whose chairman and chief executive William T. McCormick Jr. resigned last week, will sell its CMS Oil and Gas Co. business arm, in order to lower its debt and raise capital.

CMS Energy had received attention because of news in the past two weeks concerning reciprocal energy trades with other energy trading companies, including Reliant Resources and Dynegy Inc. Such trading inflated revenues by over $5 billion over two years, nearly a quarter of its revenue.

The oil and gas operations of CMS are found in the Permian Basin of west Texas, as well as abroad, in Cameroon, the Republic of Congo, Colombia, Eritrea, Tunisia, and Venezuela. According to company spokesman Dan Bishop, the unit it intends to sell is a small part of its business. According to 2001 financial reporting, revenue from the unit accounted for less than 2 percent of revenues.

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