Latest news with #energyCosts
Bloomberg
08-07-2025
- Business
- Bloomberg
EU Pledges State Aid, Trade Tools to Boost Chemicals Industry
The European Union pledged to use its trade defense powers and state aid measures to shield the continent's chemicals makers from high energy costs and intensifying US and Chinese competition — a sign of the strain that one of the bloc's most important industries is under. The European Commission announced a strategy on Tuesday that would involve identifying critical chemicals at risk from what the bloc's members deem unfair competition and setting up critical production sites to attract investment. Along with national governments, the bloc's regulatory arm has been under pressure from the industry to prevent plant closures, eliminate investment barriers and ease regulatory pressure.
Yahoo
04-07-2025
- Business
- Yahoo
Southern Company's Georgia Power Freezes Base Rates Through 2028
The Southern Company's SO subsidiary, Georgia Power, recently announced the approval of the stable and predictable base rates by the Georgia Public Service Commission ('PSC') through the end of 2028. The decision stems from a stipulated agreement between Georgia Power and the PSC's Public Interest Advocacy Staff and extends an alternate rate plan initially approved in 2022. Georgia's economy is booming, spurring a significant increase in electricity demand. To meet this rising need while keeping energy costs affordable, Georgia Power has collaborated closely with state and local officials, business leaders and community stakeholders. This collaboration has resulted in proactive regulatory measures, including the 2023 Integrated Resource Plan Update and revised rules to better manage the load impacts from large-scale energy users. These steps are designed to balance reliability, resiliency and fairness across Georgia Power's 2.8 million customer base. While base rates are set to remain unchanged, costs related to storm recovery, such as those from Hurricane Helene, will be handled in a separate regulatory proceeding expected in the first half of 2026. This ensures that storm-related expenses are managed transparently, without impacting the stability of base rates for customers. The rate freeze follows five rate increases since 2023 that have pushed the average customer's monthly bill up by $43, a rise of more than 20%. With energy prices surging across the United States, Georgia PSC encouraged the staff and Georgia Power to reach an agreement to hold base rates steady, marking a clear win for ratepayers. The CEO of the company emphasized the importance of maintaining reliable and affordable energy, citing the rate freeze as a testament to the state's robust and cooperative regulatory framework. He further reflected upon the mutual benefits of economic growth and customer affordability, stating that affordable rates among customers will help ensure economic growth in the state of Georgia. The Southern Company deals with the generation, transmission and distribution of electricity and serves approximately nine million customers through its seven electric and natural gas distribution units. Currently, SO has a Zacks Rank #3 (Hold). Investors interested in the utility sector might look at some better-ranked stocks like National Grid plc NGG, Engie SA ENGIY and CenterPoint Energy, Inc. CNP. While National Grid and Engie currently sport a Zacks Rank #1 (Strong Buy) each, CenterPoint Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here. National Grid is an international energy delivery business whose principal activities are in the regulated electricity and gas industries. The Zacks Consensus Estimate for NGG's 2025 earnings indicates 42.02% year-over-year growth. Engieengages in the power, natural gas and energy services businesses. It operates through Renewables, Networks, Energy Solutions, FlexGen, Retail, Nuclear and Others segments. The Zacks Consensus Estimate for ENGIY's 2025 earnings indicates 24.58% year-over-year growth. Houston, TX-based CenterPoint Energy is a domestic energy delivery company that provides electric transmission and distribution, power generation and natural gas distribution operations. The Zacks Consensus Estimate for CNP's 2025 earnings indicates 8.02% year-over-year growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern Company (The) (SO) : Free Stock Analysis Report CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report National Grid Transco, PLC (NGG) : Free Stock Analysis Report ENGIE - Sponsored ADR (ENGIY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
02-07-2025
- Politics
- CNN
House GOP lawmakers voice concerns over Trump's megabill
House GOP lawmakers voice concerns over Trump's megabill The House Rules Committee voted 7-6 to advance the rule on President Donald Trump's sweeping domestic policy bill. The House will have to vote on the rule before the bill can come to the floor for a final vote. Some Republicans have indicated that they could vote against the rule on the floor in a revolt against their leadership. CNN's Arlette Saenz reports. 01:09 - Source: CNN Trump's 'two week' Russia deadline is now on week five As the war in Ukraine rages on, CNN's Adam Kinzinger looks back on President Trump's recent promise that he would have an answer to Russian President Vladimir Putin's willingness to end the war in 'two weeks.' 01:13 - Source: CNN Why your utility bill might increase under Trump's tax bill CNN's Bill Weir explains why your household energy bill will be higher over the next decade if the GOP passes Trump's new tax bill. Red states like Oklahoma, South Carolina and Texas could see up to 18% higher energy costs by 2035, according to think tank Energy Innovation. 01:10 - Source: CNN Latino influencers stick by Trump Tony Delgado and Gabriela Berrospi, entrepreneurs and founders of multimedia brand Latino Wall Street, helped rally the Latino vote for President Donald Trump in 2024. As the administration has escalated ICE raids and deportations this year, they visited Washington D.C. and the White House to advocate for their community and immigration reform. 02:27 - Source: CNN Tillis gives fiery speech about Trump's 'big, beautiful bill' Sen. Thom Tillis (R-NC) warned President Trump and Republicans that the Senate version of the sweeping "big, beautiful bill" will break a promise Trump made to not cut Medicaid. Tillis also announced Sunday that he will not seek re-election in 2026. 01:18 - Source: CNN NYC Mayor Eric Adams responds to low poll numbers New York City Mayor Eric Adams joins CNN's Jake Tapper to discuss poll numbers that indicate dissatisfaction with his job performance. 01:04 - Source: CNN Minnesota lawmaker and husband lie in state at State Capitol Mourners and lawmakers gather to pay tribute to former Minnesota State Rep. Melissa Hortman and her husband, Mark Hortman, who were killed in a targeted attack. The couple is joined by the family's golden retriever, Gilbert, who also died after being shot during the attacks. 00:41 - Source: CNN USNS Harvey Milk new name revealed US Defense Secretary Pete Hegseth announced the USNS Harvey Milk is being renamed to the USNS Oscar V. Peterson. During Pride Month in June, he ordered the stripping of the name Harvey Milk who was a gay rights activist and Navy veteran. 00:43 - Source: CNN Trump says he'd consider bombing Iran again In a White House briefing with reporters President Donald Trump was asked if he would consider bombing Iran's nuclear sites again if future intelligence reports offered a concerning conclusion on Iranian enrichment of uranium. 00:51 - Source: CNN Hegseth claims CNN spun Iran reporting. Anderson rolls the tape Defense Secretary Pete Hegseth alleges that several media outlets, including CNN, are misrepresenting the Iran nuclear program in their coverage. Watch our montage of what he said and what we said. 05:31 - Source: CNN Trump reacts to win at the Supreme Court President Trump thanked conservative Supreme Court justices and explained what he plans to do next after the Court backed his effort to curtail lower court orders that have hampered his agenda for months. 00:46 - Source: CNN Supreme Court backs parents who want to opt out of LGBTQ+ curriculum The Supreme Court on Friday backed a group of religious parents who want to opt their elementary school children out of engaging with LGBTQ books in the classroom, another major legal win for religious interests at the conservative high court. 00:52 - Source: CNN Supreme Court limits ability of judges to stop Trump The Supreme Court backed President Donald Trump's effort to curtail lower court orders that have hampered his agenda for months. However, it signaled that the president's controversial plan to effectively end birthright citizenship may never be enforced. 01:32 - Source: CNN Trump's team credits him with creating a decades-old phrase White House press secretary Karoline Leavitt falsely claimed that President Trump came up with the phrase "peace through strength." CNN's Abby Phillip reports on how the phrase has been used for decades. 01:22 - Source: CNN 'Daddy's home:' Trump leans into NATO chief comment NATO Chief Mark Rutte got the world's attention after referring to President Trump as "daddy" after he used the analogy of two children fighting to describe the conflict between Iran and Israel. In a press conference, Rutte, explained his reason for using the term "daddy." Trump spoke about the moment at a press conference, and the White House leaned into the term in a social media post. 00:50 - Source: CNN Tapper responds to Trump's attack of CNN's coverage of US strikes on Iran CNN's Jake Tapper offers a harsh rebuke to President Trump's attack on media outlets for reporting on a preliminary Defense Intelligence Agency report from the Pentagon which found US strikes likely may have only set Iran's ability to produce a nuclear weapon back by a matter of months. President Donald Trump and his administration has repeatedly said that the strikes 'obliterated' Iran's ability to produce a weapon. 04:04 - Source: CNN Analysis: Trump dominates NATO summit Thirty two world leaders attend this year's NATO summit in The Hague, Netherlands. But one leader dominated the discussions: President Donald Trump. CNN's correspondent Clare Sebastian offers her analysis from The Hague. 01:34 - Source: CNN Zohran Mamdani declares victory in NYC Democratic mayoral primary New York State assemblyman and democratic socialist Zohran Mamdani declared victory in a speech as he is poised to win the Democratic primary for New York City mayor, with his top challenger Andrew Cuomo conceding the race. According to CNN's projection, Mamdani, whose campaign focused on affordability, will garner less than 50% of the vote, meaning the race will formally be decided by ranked-choice votes. 02:35 - Source: WABC
Telegraph
25-06-2025
- Business
- Telegraph
Miliband failing to cut household power bills, says climate adviser
Ed Miliband has failed to make any progress on cutting household power bills, the Climate Change Committee (CCC) has warned. The quango said in a damning new report that the Energy Secretary has not done enough to remove net zero levies from bills, which is making electricity too expensive. This failure means the UK remains at risk of missing its 2030 clean power target, it said, as inflated energy costs deter consumers from switching to electric cars and heat pumps. Its research found that green levies are adding £500 to heat pump running costs each year. 'The Government has made no clear progress on removing policy costs since the election,' the report said. 'Making electricity cheaper remains our first recommendation.' As part of its latest recommendations, the committee also called on ministers to curb emissions from Britain's aviation sector and ban all new homes from connecting to the gas network. 'By far the most important recommendation we have for the Government is to reduce the cost of electricity, both for households and for businesses and industry as well,' said Professor Piers Forster, CCC chair. 'If we want the country to benefit from the transition to electrification, we have to see it reflected in the utility bills, and that is our biggest recommendation – one that we have yet to see this Government deliver.' Backfiring The CCC is a statutory body that advises ministers on setting emission targets, measuring progress towards them and preparing for the impacts of climate change. Its latest comments will serve as a blow to Mr Miliband, who has repeatedly pledged to cut average household energy bills by 2030. The CCC's criticism will also sting given that, as energy secretary in 2008, Mr Miliband oversaw the passing of the Climate Change Act that brought the quango into existence. As for its proposed ban on connecting new homes to the gas network, the report said: 'Currently, 71pc of new homes include fossil fuel boilers, which creates additional emissions, bakes in costs for the future owners of these homes for retrofitting with low-carbon heating, and means poorer air quality for the families who move in.' Meanwhile, the committee's research found that the aviation sector produced 38m tonnes of carbon emissions in 2024. The quango said ministers must do more to curb the industry's growth, such as making flights more expensive to reduce demand. The report said: 'The most significant driver of aviation emissions since 1990 has been rising demand for international flights, particularly leisure. 'Aviation now contributes more to UK emissions than the electricity supply sector – a stark contrast to 1990, when aviation emissions were 10 times lower than from electricity, and close to half their current level.' 'Time for honesty' The CCC's intervention came as a separate study from the Institute of Fiscal Studies (IFS) also warned that the UK's system of carbon taxes and green levies was adding unnecessary costs to the drive for net zero. Lucie Gadenne, an economist at the IFS, said a tonne of carbon arising from most business activities would be taxed at £249 if it came from electricity, compared with just £52 if it came from gas. An urgent rethink is needed to lower taxes on electricity, the IFS said. An IFS spokesman said: 'Much of this tax gap comes from the choice to fund green subsidies through levies just on electricity, instead of a tax on all energy sources. 'If the Government wants to help households and firms with the costs of net zero, rethinking these taxes on electricity would be a good first step.' Following the CCC's latest report, Andrew Bowie, the Conservative shadow energy spokesman, said: 'Even the CCC can see Labour's plans are not working and are costing the British people and British industry. 'It is time for honesty from Ed Miliband about what his madcap plans are costing and the impact on Britain's economy as a result.' Richard Tice, Reform UK's energy spokesman, said: 'This report and the whole CCC will be thrown in the bin under a Reform government.' Mr Miliband thanked the CCC and said: 'The only way to get bills down for good is by becoming a clean-energy superpower and we continue to work tirelessly to deliver clean power for families and businesses.'
The Independent
24-06-2025
- Business
- The Independent
Feeling the heat: Your AC is going to push summer electricity bills to an average of $186 a month
Your electricity bill will make you sweat this summer as forecasts call for hotter-than-normal temperatures and soaring natural gas prices. According to the U.S. Energy Information Administration, the average US household will pay about $186 per month for electricity during June, July, and August, up 4 percent from last year and nearly 26 percent higher than four years ago. The main driver of the increase is a 37 percent jump in natural gas prices compared to the same time last year. New England residents will bear the brunt of the rise, with monthly electricity bills expected to jump 6.7 percent to around $200. The region's limited gas pipeline infrastructure continues to make it one of the most expensive places in the country for energy. Electricity costs on the Pacific Coast, however, are expected to fall slightly, down 1 percent from last summer to an average of $176 per month. Natural gas, long used mainly for winter heating, has become a cornerstone of summer power generation. As air conditioners work overtime during hotter summers, utilities are increasingly turning to gas-fired power plants to meet demand. Last summer, one of the hottest on record, saw record levels of gas burned for electricity, with power plants accounting for 41 percent of the nation's gas consumption, up from 40 percent the year before. As electricity demand peaks during heatwaves, utilities also rely more heavily on 'peaker' plants, which are less efficient, part-time power stations that further increase gas consumption and drive up prices. Natural gas futures ended last week at $3.784 per million British thermal units, a 9.8 percent weekly increase. Analysts expect the rally to continue. Energy trading firm EBW Analytics predicts prices will top $4 by August, when demand typically peaks. Morgan Stanley is even more confident, forecasting prices above $5 in the second half of the year. 'Supply is not on track to keep pace with demand growth,' Morgan Stanley analysts warned in a client note last week, the Wall Street Journal reports. Much of the pressure comes from surging demand for liquefied natural gas exports. A new LNG terminal in Plaquemines Parish, Louisiana, has begun operations ahead of schedule and is consuming more gas than anticipated. That's raising concerns about competition for limited pipeline capacity in the Southeast, where power plants are also ramping up for summer. 'This is putting stress on gas supply in the Southeast and driving significant price volatility in those markets,' Oren Pilant of East Daley Analytics told WSJ. The recent spike in prices comes after a two-year glut had depressed the gas market. A warm winter left stockpiles brimming last year, prompting producers to scale back output. But strong demand from both LNG exporters and utilities, combined with a colder winter and resumed drilling, helped erase the surplus. In March, gas futures hit their highest levels since 2022. Consumers saw some temporary relief this spring as mild temperatures allowed stockpiles to be replenished. The EIA reported last week the seventh straight large increase in gas inventories since late April, putting reserves 4.7 percent above the five-year average.
