Utilities

Oklahoma's first utility securitization bond deal related to 2021's Winter Storm Uri continued to attract criticism from a state regulator who called for an independent review.

The county wants to enter into a public-private partnership to finance, build and operate a public utility and multiple microgrids that will sell power to advanced manufacturers who require hyper-reliable energy.

While an Oklahoma regulatory official said the bond sale's results for ratepayers was “simply horrifying,” the rapid increase in U.S. Treasury and municipal interest rates since the start of the year were directly correlated.

A heat wave blasting Texas and other states is unlikely to lead to days-long blackouts as 2021's Winter Storm Uri did, the rating agency said.

The board also approved a rollover of bond anticipation notes because it doesn't have access to the bond market.

The authority will takes steps to raise $1 billion to address expected growth of expenses.

Oklahoma joins Texas, Arkansas and Louisiana in allowing utilities to float securitized bonds to recover spending on fuel price spikes during Winter Storm Uri.

Soaring inflation could pressure the ratings of utilities if they bring rate hikes that spark customer and political opposition, S&P Global Ratings said.

Gross savings from the transaction is expected to be $378 million, or about $11 million a year, which would result in around $250 million in net present value debt service savings.

Last week saw the first co-op securitization to finance storm costs, a $908 million deal that could set a national model for utilities.

Seven of Colorado-based Tri-State Generation and Transmission Association's member utilities are considering an exit.

The $35 million of tax-exempt and taxable notes were privately placed with Nuveen.

Winter sharpens the political focus on Texas' February power failure and efforts to prevent another.

Puerto Rico Gov. Pedro Pierluisi said the power agency's new leaders must end the outages plaguing the island.

The Long Island utility intends to sell electric system general revenue bonds in three tranches.

The fight between the governor and the legislature over control of the beleaguered utility is heading to the local Superior Court.

A pair of bond sales coming out of the Carolinas found homes with investors this week as demand for the paper was high.

FirstEnergy will pay $230 million under a deferred prosecution agreement with federal authorities in the alleged pay-to-play that benefitted its former subsidiary FirstEnergy Solutions.

Texas stumbled toward summer as power again hit peak demand as Gov. Greg Abbott signed bills to upgrade the electrical system.

Texas lawmakers are facing a special session after a battle over elections, firearms and finance.