Tag Archives: energy efficiency

Southern Company missed earnings: weather and Kemper Coal and nuclear Plant Vogtle

SO CEO Tom Fanning continued to blame slow sales and earnings on mild weather (air conditioners running less), but the big boondoggle going bad is Kemper Coal, which has slipped six months from May 2014 to Q4 2014, and even the Wall Street Journal calls it “possibly the most expensive fossil-fuel power plant ever built in the U.S”. How bad will SO’s stock tank when SO’s even more expensive nuclear Plant Vogtle slips even more? Dividends can’t prop up SO’s share price forever, not when PSCs are revolting against the rate hikes and guaranteed profit hikes that prop up those dividends. When will Southern Company and Georgia Power get out front and lead in solar and wind power? Before or after the public, state public service commissions, and investors make them do it?

Justin Loiseau wrote for DailyFinance 4 November 2013, Southern Company Earnings: A $5 Billion Blunder? Continue reading →

China $375 billion conservation and pollution investment

Fayen Wong and Ruby Lian wrote for Reuters 30 July 2013, China to invest $375 billion on energy conservation, pollution: paper,

China plans to invest 2.3 trillion yuan ($375 billion) in energy saving and emission-reduction projects in the five years through 2015 to clean up its environment, the China Daily newspaper reported on Wednesday, citing a senior government official.

The plan, which has been approved by the State Council, is on top of a 1.85 trillion yuan investment in the renewable energy sector, underscoring the government’s concerns about addressing a key source of social discontent.

China has set a target of reducing its carbon emissions per unit of GDP by 40-45 percent by 2020 from the 2005 level, and raising non-fossil energy consumption to 15 percent of its energy mix, Xie Zhenhua, deputy director of the National Development and Reform Commission (NDRC), was quoted as saying.

The article continues about tiered power pricing for energy intensive industries and carbon trading markets.

Given that most of the world’s increase in energy usage comes from one country, China, according to OECD figures, anything China can do to slow that increase is good.

-jsq

Solar tariff damaging to solar growth in Georgia –GSEA

GSEA PR of yesterday about Georgia Power’s attempt to tax rooftop solar generators. Proposed Solar Tariff Unfair and Damaging to Solar Growth in Georgia,

Atlanta, GA — The Georgia Solar Energy Association Chairman Mark Bell said today that the tariff on solar installations proposed in the Georgia Power rate request now under consideration by the Public Service Commission is unfair to solar customers.

The tariff, which will add roughly $22 a month to residential solar customers’ bills beginning in 2014, will have a significant “chilling effect” on the robust growth of solar development now under way in Georgia. Solar investment currently is providing jobs and new infrastructure throughout the state, including its rural areas where economic investment is badly needed. Solar energy is making Georgia farms more cost-effective and productive, and high-demand manufacturing more efficient.

“This proposal penalizes solar at the exclusion of other energy saving methods, which Georgia Power supports. Georgia Power has traditionally Continue reading →

Which first to get more solar: fight big money or new technology?

In Georgia we’re still below 1% electric power generation from solar, and we can get to 20-30% with no new technology whatever. Georgia Power’s nuke overruns are already causing a reaction of still more distributed solar. Yet even that good news gets the usual reaction: “This is necessary but not sufficient: a breakthrough in energy storage technology is required.” Which just ain’t so; distributed rooftop solar alone is plenty to move Georgia way ahead. That’s why Edison Electric Institute calls distributed solar a massively disruptive influence on the utilities’ century-old cozy baseload model. What’s holding solar back is those same big utilities, who understandably don’t want to change their long-time cash cow. But they’re going to change, and pretty quickly.

People unfamiliar with the sunny south (which is most of the world south of, oh, Germany), still say things like this: Continue reading →

Southern Company missed earnings on Kemper Coal but Plant Vogtle is dominant

The dominant financial consideration is “what’s going to happen with Georgia”, meaning with nuclear Plant Vogtle, said SO CEO Tom Fanning, referring to the GA PSC CWIP monitoring hearings currently in progress. Meanwhile, that $160 million estimate 2 July 2013 of more Kemper Coal cost overruns by 30 July turned into $278 million after taxes (AP). This is on top of $333 million after taxes in May. SO earnings fell 52% (WSJ), missing projections, and SO stock dropped 2% yesterday.

Remember GA PSC Tim Echols already suggested a Plant Vogtle cost overrun cap similar to the one Mississippi PSC applied to Kemper Coal that caused SO to have to eat all those costs. If that happens, SO’s got financial problems.

Has SO seen the solar light yet, as in reliable, dependable, and deployable on time and on budget? Nope. Solar was tacked onto the end of Tom Fanning’s summary of interesting stuff in the 31 July 2013 earnings call: Continue reading →

SO’s plan to make the Southeast a net exporter of the energy from solar and wind? –John S. Quarterman @ SO 2013-05-22

SO CEO Tom Fanning didn’t budge from nuclear and coal, but he did announce a tiger team to get on top of distributed solar and wind through a smart grid, headed by SO’s COO, at the 22 May 2013 Southern Company Stockholder Meeting.

Mr. John S. Quarterman from Lowndes County, Georgia, and he holds 220 shares of Southern Company.

TF: Hello, John. Good to see you again this year.

jsq: Hi. I’ve come to compliment Tom Fanning and Paul Bowers. Last year, Tom Fanning was so persuasive I ran out and bought $10,000 worth of stock.

TF: Bless you. [Applause]

However, apparently because of SO’s admission a few minutes before in that same meeting that it was going to have to eat Kemper Coal cost overruns, SO stock tanked that same day, causing my stock to stop out, and Standard & Poor’s downgraded SO the following day because of Kemper Coal, noting that if the same thing happened with SO’s nuclear project at Plant Vogtle, S&P’s would probably Continue reading →

Re-evaluate Plant Vogtle and move to wind and solar power –Courtney Hanson @ GA PSC 2013-06-18

Re-evaluate Plant Vogtle, especially its water use, and move to efficiency, wind, and solar power instead, said Courtney Hanson of Georgia Women’s Action for New Directions (GA WAND) at the Georgia Public Service Commission meeting Tuesday 18 June 2013.

She reminded GA PSC Plant Vogtle 3 and 4 are late and over budget, and then:

I want to add my voice to the chorus of folks here who are concerned about water issues. We know that Vogtle 3 and 4 will require an additional withdrawal of as much as 74 million gallons a day from the Savannah River and most of that water will not be returned. We know that the central Savannah River area where Vogtle is located is already very prone to droughts and the plant has been close to shutting down several times due to drought conditions. Georgia is also already struggling to supply enough water for our homes, businesses, industries, and farms.

In addition, the Savannah River is Continue reading →

It is not enough to add a little solar and wind on top of fossil and fission fuels –a German @ GA PSC 2013-06-18

A German national residing in Georgia asked for a serious effort on energy efficiency and conservation while switching to real renewable energy sources instead of fossil fuels and nuclear, at the Georgia Public Service Commission meeting Tuesday 18 June 2013.

She said increasing fires and floods were part of climate change, and we need to do something about it.

I always hear this phrase “growing energy demand” as if it’s something, some matter of fact. A growing economy means growing energy demand, and that means consequently growing waste, growing pollution, growing inequity, and so on. Any thinking person should notice that we need to find a way out. For anyone concerned about our future, business as usual is no longer acceptable. We need drastic changes in our energy supply. We need to use less.

Only a month earlier, Tom Fanning, CEO of Georgia Power’s parent company Southern Company reemphasized yet again that

To us, growing the economy is how we’re going to make profit.

Yet GA PSC could do something about that antique attitude, as this speaker pointed out: Continue reading →

More solar, less nuke cost overruns –Glenn Carroll @ GA PSC 2013-06-18

Glenn Carroll of Nuclear Watch South asked GA PSC to raise the 2 MW solar cap and to get Georgia Power to build solar in Georgia rather than in distant states, plus efficiency and conservation, at the Georgia Public Service Commission meeting Tuesday 18 June 2013.

She said they’d gotten a lot of national attention on Plant Vogtle, which was having a legendary bad year, in procurement, costs, etc. She praised Sierra Club, Georgia Watch, and Southern Alliance for Clean Energy (SACE) for intervening in Georgia Power’s IRP.

The world has changed really really fast and Georgia Power is being isolated. It is protected financially of course because of the small business and residential customers that are covering all of the risks that they are taking. We want solar power here, not Arizona and New Mexico.

She recommended conservation and efficiency programs at Port Angeles, presumably the one in Washington State.

Here’s the video:

Continue reading →

Increased investment in demand-side reduction –a homebuilder @ GA PSC 2013-06-18

Paul[?] Matthews said he’s been green since before it was cool, first in an earlier Georgia Power program (EarthCraft), and now in EarthCents. He thinks the program is good, with both environmental and economic benefits, but he asked for it to be extended to become a model for the south, at the Georgia Public Service Commission meeting Tuesday 18 June 2013.

He spoke about his company’s investment in sustainable efficiency and conservation, and asked GA PSC and Georgia Power to also do more.

A much more efficient way and cost-effective of reducing power is by reducing energy used. We’re not only looking at tripling the savings over the next ten years, but we’re also looking at job growth….

…a sustainable and long-term growth approach.

Let’s make the rebates and also the tax credits so they’re a model for Georgia and also for the south.