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$POM 1Q15 10-Q: As of March 31, 2015, consolidated amount of cash plus unused borrowing capacity under credit facility available to meet future liquidity needs of POM and utility subsidiaries was $916MM. Utility subsidiaries had combined cash and unused borrowing capacity under credit facility of $547MM at 1Q15-end.
$AEE's subsidiary Ameren Transmission Company of Illinois (ATXI) received approval from the Missouri PSC for the construction of the Mark Twain Transmission Project, a 100-mile, 345,000-volt transmission line and substation in northeast Missouri. ATXI expects to invest $250MM in the project. Construction is planned to begin in April 2018.
Energy utility firm $D has entered into an agreement with $SCG, under which the companies will merge in a stock-for-stock transaction. SCANA shareholders will receive 0.6690 share of Dominion for each SCANA share. The transaction is expected to be accretive to Dominion’s earnings. SCANA will operate as a wholly owned subsidiary of Dominion.
South Carolina Electric & Gas Co. (SCE&G), principal subsidiary of $SCG, filed a formal request with the Nuclear Regulatory Commission to withdraw the combined operating licenses for VC Summer Station Units 2 & 3. SCE&G states that it has irrevocably abandoned its interests in the VCS Units 2 and 3.
Energy infrastructure company $TRP has signed an agreement to sell its outstanding retail power contracts in the US to EDF Energy Services. The transaction is expected to close in the first quarter of 2018. The divestiture is part of winding down the operations of TransCanada'sPower Marketing.
$XEL said it will voluntarily transfer its stock exchange listing from the NYSE to the Nasdaq Global Select Market, effective Dec. 29, 2017. Xcel Energy shares are expected to begin trading on Nasdaq on Jan. 2, 2018 and will retain its current "XEL" ticker.
$AES agreed to sell its equity interest Masin-AES Pte. to SMC Global Power Holdings. SMC Global Power is also purchasing the remaining 49% equity interest in the same assets, held by Electricity Generating Public Co. for $850MM. The transaction has a total enterprise value of about $2.4Bil.
The Public Utility Commission of Texas approved a final order in $EE’s rate case. The order resolves all issues in this case and provides, among other things, an annual non-fuel base rate increase of $14.5MM and an ROE of 9.65%. New rates are expected to be implemented in January 2018.
$AEP promoted Ashley Weaver to VP, Operations and Performance Transformation, with responsibility for leading its continuous improvement efforts, effective Jan. 3, 2018. She will replace Barbara Radous, SVP, who is retiring from the company. Weaver has served as director of Operations and Performance Transformation since 2012.