The Associated Press title Energy Week’s best and worst news article AUSTIN, Texas — Energy Week’s annual energy newsletter has some of the best and the worst news from the last few weeks.
Here are a few of the highlights.1.
New Brunswick, N.J.-based Chesapeake announced it has received a $5.6 billion federal loan guarantee to develop and build the world’s largest natural gas terminal.
Chesapeake is now planning to invest $15 billion to build a terminal and a massive gas processing plant in New Brunswick.
The company said it has secured $3.5 billion in federal loan guarantees from the U.S. Energy Department and the Canadian and Japanese governments.2.
New Jersey’s largest utility, New Jersey Public Service, announced it is converting the aging Long Island Power Authority’s aging electrical transmission lines into a high-voltage electric transmission system.
The new system will reduce the transmission cost by $100 million annually and increase capacity by 25 percent over the current line.3.
South Carolina’s largest electric utility, the South Carolina Power & Light Co., announced it will sell off all of its assets and consolidate them into a single entity.
The combined entity will include the utility’s power and distribution assets, as well as all of the electric transmission and distribution equipment and systems, power lines and facilities, as part of a $3 billion sale.4.
The Texas Department of Energy said the Department of Commerce has approved a $1.1 billion loan guarantee for a liquefied natural gas (LNG) facility to be built near San Antonio.
The project will include an 830,000-barrel-per-day facility that will produce enough LNG for about 7 million U. S. homes.5.
Georgia Power Co. said it will purchase a $25 million storage facility in western Georgia.
The $25.5 million facility will be used for storage of the gas and electricity generated by the facility and the transmission of that gas to the utility.6.
The Illinois Department of Natural Resources announced it’s approving $6.4 billion in loan guarantees to build an offshore wind farm off the coast of Illinois.
The wind farm will include a 2,200-megawatt turbine that can produce 5 million megawatts of power.7.
The California Public Utilities Commission approved a proposal to sell off its transmission lines.
California Governor Jerry Brown signed legislation in May authorizing the sale of more than 40,000 transmission lines for utility and utility-owned lines in California.
The commission will also take over the transmission authority’s $1 billion debt.8.
Wisconsin’s electric utility issued a statement saying the utility will sell more than 60 megawatts to a developer of a solar-energy farm.
The utility will buy the plants from the developer for about $500 million.9.
Texas Energy & Construction Company (TEC) announced it plans to build two coal-fired power plants in Texas and sell off more than a third of its power capacity.
TEC said it plans the plants at the former TEC Power Plant site in West Memphis, Tennessee.
The utilities would buy the electricity from the plants and sell it to the utilities.10.
Tulane University announced plans to shut down two residential and four business schools.
The university announced in a statement that it is canceling all classes on May 16.
The move will save $2.5 to $3 million per semester and allow the school to focus on its mission of helping students become more productive in the workplace.