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

Duke Energy Has 4th Qtr Loss of $2 Billion

LCG, Jan. 29, 2004--Nonrecurring charges of $3.4 billion resulting from asset sales and closure of business units led to a fourth-quarter loss of $2 billion for Duke Energy Corp.

Among assets yet to be sold in 2004 are merchant power plants in the Southeastern U.S., Australian generating plants and gas pipelines, and gas marketing businesses based in Europe. The company expects such sales to trim its $23 billion debt by $3.5 billion to $4 billion this year.

The fourth-quarter losses resulted in a $1.3 billion loss for the year, whereas Duke Energy reported a profit of $1 billion for all of 2002.

Duke Energy's chairman and CEO Paul Anderson, who moved into those positions in November 2003, said the current target was for "modest the 4 to 6 percent range."
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