Tag Archives: NextEra Energy

FPL parent NextEra Energy admits solar and wind far better investments than pipelines 2018-01-26

Even Sabal Trail partner NextEra Energy’s earnings call has far more about record solar and wind deployment and earnings (“added $0.67 per share”) than about pipeline declining earnings (“added $0.10 per share”) and misinformation, claiming Sabal Trail is operational and on schedule when it isn’t.

Which is better, NextEra, $0.67 or $0.10 per share? Oh, wait, effectively you answered that: “As the world’s current leader in wind, solar, and storage development….”.

Solar, NextEra Energy
Solar, NextEra Energy

One sentence is NextEra’s only mention of Sabal Trail; nothing about the Sierra Club lawsuit against FERC that less than a week later saw the DC Circuit Court reject all requests for rehearing, meaning as early as next week the court may mandate shutting down Sabal Trail. NextEra company FPL is the sole remaining customer listed in Sabal Trail’s custoner index. Maybe it’s time to bail out and get on with solar power in the Sunshine State.

NextEra Energy, via Motley Fool, 26 January 2018, NEE earnings call for the period ending December 31, 2017,

CEO and Chairman James L. Robo:

Fourth, we’re advancing our renewable product offerings as we prepare for the next phase of renewable development. As a result, our prospects for new renewables growth has never been stronger. As Continue reading →

The shift has come: GE, Siemens massive job losses as fossil fuels crash and the sun rises

The carbon bubble is bursting, as jobs fly from some of the biggest companies in the world, because solar and wind power are taking over right now. It’s too late to bet on the wrong nuclear horse or the wrong pipelnie snake. Get out of fossil fuels now: the sun is rising.

Tiffany Hsu and Clifford Krauss, New York Times, 7 December 2017, G.E. Cuts Jobs as It Navigates a Shifting Energy Market,

General Electric, whose new leadership is moving to eliminate bloat and grapple with the fallout from earlier, ill-timed decisions, is taking drastic steps to keep pace with seismic shifts in the global energy industry.

GE ranks first in 2017 downsizing after 12,000 more jobs: Brandon Kochkodin, Bloomberg, 7 December 2017
Brandon Kochkodin, Bloomberg, 7 December 2017, GE Ranks First in 2017 Downsizing After 12,000 More Job Cuts.

The company said on Thursday that it would cut 12,000 jobs in its power division, reducing the size of the unit’s work force by 18 percent as part of a push to compete with international rivals in a saturated natural gas market, adjust to “softening” in the oil and gas sectors and stay abreast of the growing demand for renewable energy.

Solar and wind energy technology is increasingly being deployed Continue reading →

Many same investors in Sabal Trail and Dakota Access Pipeline

DAPL and Sabal Trail are more intertwined than we thought. But first, who are the institutional investors in the three Sabal Trail partners? Three Banks NASDAQ makes this easy to discover, and the answer is in the first table below: among banks State Street and Bank of America stand out.

Let’s not forget Williams Company, of the Transco Hillabee Expansion Project from which Sabal Trail wants to get its fracked methane; see the second table, which State Street clearly wins, and there’s Goldman Sachs.

We learned this week that Enbridge of the Dakota Access Pipeline (DAPL) opposed by the Standing Rock Sioux in North Dakota: that Enbridge is buying Spectra Energy of Sabal Trail.

But there’s more! Last year Williams was bought by Energy Transfer Equity, which is the main backer of DAPL.

Update 2016-09-26: Actually, Energy Transfer backed out of buying Williams Co..

See the third table, which shows banks bought into at least five of the partner entities: Bank of America and Morgan Stanley.

Opponents of Sabal Trail are not just fighting the same industry as DAPL: they’re fighting many of the same companies and the same investors.

Investors in Sabal Trail partners (Spectra Energy, NextEra Energy, Duke Energy)

Continue reading →

Land is not just money: appeal tax valuations today

Appeal today if you think there’s more to land (or business) and woods and fields and streams than money, unlike the Tax Assessors, whose revaluation would drive development into agricultural areas of the county where it doesn’t belong, while avoiding populated areas such as the south side of Valdosta. We can expect pipeline companies and utilities from other states to think nothing of pillaging our lands for their profit. We shouldn’t expect that of our neighbors whom we elected Tax Asssessors. If you have affection for your land, your county, your neighborhood, today’s the deadline to appeal your valuation. And there will be an election later.

As Wendell Berry said,

Whatever has happened in what economists call “the economy,” it is generally true that the land economy has been discounted or ignored.

Are the Tax Assessors boomers? Are you a sticker? Wendell Berry explains: Continue reading →

Southern Company and Duke backing solar Florida

Are all the fracking utitilies finally seeing the sunlight? By Backing solar power in Florida, are Duke, Southern Company, TECO, and even FPL’s parent NextEra hedging their bets, or finally realizing where the future is?

Reem Nasr, CNBC, 12 June 2015, The sleeping giant of the solar industry: Florida,

Duke Energy Florida told CNBC that it “is a strong supporter of solar energy and we are committed to helping to grow solar in Florida.” Last month it announced an additional 500 megawatts of solar facilities by 2024, among other solar projects.

Meanwhile in May Duke Energy of Charlotte, North Carolina bought 7.5% of Sabal Trail, along with Spectra Energy of Houston and NextEra Energy of Juno Beach, Florida.

Southern Co., which owns Florida’s Gulf Power, said the following:

Continue reading →

Sabal Trail’s eminent domain argument applied to FPL headquarters

300x72 Between the Atlantic and the canal, in FPL Headquarters, by John S. Quarterman, 24 November 2014 The alleged “Project Need” in Sabal Trail’s Friday FERC docket CP15-17 permit application to get eminent domain for its 100-foot-wide gouge for a yard-wide hazardous fracked methane pipeline is: Sabal Trail claims it has contracts to sell the gas. Let’s apply that logic to Sabal Trail co-owner FPL’s headquarters.

This is FPL headquarters at 700 Universe Blvd., Juno Beach, Florida, in the Palm Beach County Property Appraiser’s map: Continue reading →

Twice the acreage than solar for Sabal Trail pipeline to produce the same power @ FERC 2014-03-05

According to Sabal Trail’s own numbers, twice as much land for the entire three-pipeline Spectra -> Sabal -> FSC proposed gouge through three states as would be required to produce as much solar power.

STT’s solar acreage estimates from their Draft Resource Report 10: Alternatives (RR10) of November 2013, Continue reading →

Third Sabal Trail pipeline route misses Georgia entirely

Andrea Grover of Sabal Trail Transmission has been telling Florida landowners about another proposed pipeline route that completely bypasses Georgia. Received yesterday on Request pipeline town hall –Tim Bland to LCC:

For those that are against having the pipeline run through their property, go to Ocala Star Banner on the web where there is a map with the proposed route for the pipeline from Alabama to Florida. This route barely touches the southwest corner of Georgia (if at all). Why did Sabal change the route? I don’t either. The newspaper is dated October 24, 2013.

-Ronald Kicklighter

Contracts for natural gas pipeline through Florida get initial OK, by Morgan Watkins for Ocala StarBanner picked up a story first run in the Gainesville Sun,

A $3.5 billion, 600-mile natural-gas pipeline system that will stretch from Alabama into Florida is still in the planning stages, but homeowners near the Ichetucknee and Santa Fe rivers are concerned because the routes being proposed might run through their neighborhoods.

 

Landowners in Georgia don’t want it crossing their land or the Flint or Withlacoochee Rivers, either.

Florida Power & Light selected Continue reading →

Florida Southeast Connection pipeline preliminary filing with FERC

What costs less than a latte or a slice of pizza? A day’s electricity from Florida Power and Light, according to FPL VP Pam Rauch who also is NextEraEnergy VP and President of yet another pipeline company shell that wants to pull a 100 foot gas pipeline through Georgia for the benefit of Florida.

Still more names in the pipeline shell game: Pamela Rauch who filed FP14-2 for Florida Southeast Connection LLC (FSC), is Vice President, Development and External Affairs for NextEraEnergy and Vice President of External Affairs for Florida Power & Light Company (FPL) in January since 2008; on her LinkedIn profile she has the NextEra logo next to the FPL name. Here’s a nice picture of her making a case for an FPL rate increase for, among other things,

“our ability to finance the billions of dollars in improvements that keep reliability high and bills low, and that create thousands of jobs for you and your neighbors.”

Those would include “modernizations” as Spectra rep Andrea Grover put it in Moultrie like closing coal plants and building this pipeline through Georgia by Spectra Energy, a company with a corrosive-record of property damage and PCB-spilling environmental damaga for neighbors like hers in Florida. We could have more jobs for people right here through rooftop solar, and we’d get energy, reduced bills, and no risk of PCB or other spills.

What do you think about this, neighbors in Georgia? Maybe you’d like to get the Lowndes County Commission to get Spectra and maybe FSC to come explain themselves?

FERC file list for FP14-2 and text of the preliminary filing approval for Florida Southeast Connection: Continue reading →