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Jane Wells reports on what’s ahead for the California utility company PG&E after a very volatile year which included several settlements with wildfire victims, insurers and state regulators.
Jane Wells continues her reporting from California where the massive wildfires there has impacted some of the wealthiest neighborhoods in Los Angeles and some of the utility companies may have its day of reckoning.
Volatility is back on Wall Street.
The average daily point range of the Dow Jones Industrial Average so far this month is about 482 points, which is more than double the average daily range from the rest of the year (224 points from January to July).
PG&E rose sharply Monday after a report said that an investor group has offered it a $4 billion alternative plan to help avoid bankruptcy.
Up a winding mountain road in California gold country, hidden by groves of redwood and pine—along with pockets of humanity living off the grid—is a reservoir with the cheapest water in America. For every 100 cubic feet of water—a standard measure that equals 748 gallons—customers pay 42 cents in Oroville, California. (Tweet This) That’s cheaper than …
In California, water may be increasingly difficult to come by, but it hasn’t gotten harder to pay for. Californians are being forced to slash their water use as some predict that yet another year of drought could empty the state’s reservoirs. The massive Metropolitan Water District of Southern California (MWD), serving nearly 19 million customers, has …
Six months ago, Maura Shaughnessy couldn’t find a single utilities company to buy. Back then, these businesses were on a tear—the S&P 500 Utilities sub-index was up 26 percent in 2014—which made it difficult to find undervalued opportunities. Things have cooled off dramatically since. The sector is down about 7 percent year-to-date, while its price-to-earnings …
Utilities were on a tear when interest rates were low, but as yields have started to climb, the sector has started to falter.
In a quiet week, one of the main topics of interest was the Dow Utilities‘ 4-percent drop in the last two trading days, following a huge rally in the middle of the month. It was still the best-performing of the major indices, up 28 percent for 2014. All this occurred without a bond market rally. …
An economist who correctly predicted the fall in oil price this year has told CNBC that the U.S. government could look to bail out its energy sector in 2015 as the commodity’s low price starts hitting the country’s economy. “The U.S. energy sector is clearly important,” Steen Jakobsen, the chief economist at Danish investment bank …
U.S. water utilities face a critical economic squeeze, according to a new report—and that will likely mean higher prices at the water tap for consumers. A survey by water-engineering firm Black & Veatch of 368 water utility companies across the country shows that 66 percent of them are not generating enough revenue to cover their costs. To make …
The Environmental Protection Agency released a new proposal on Monday to cut carbon pollution from power plants. The controversial proposal would cut carbon emissions 30 percent from 2005 levels by 2030. U.S. business groups have argued the new rules would cut tens of billions of dollars from the economy. Read More War on coal? Carbon is …