Dive Brief: S&P Global Ratings is revising its outlook for North American regulated utilities from "stable" to "negative" due to risks that COVID-19 impacts will cut away at many utilities' "financial cushions," which have already been somewhat depleted by a variety of events unrelated to the pandemic, the ratings agency announced in a report Thursday. Despite this new … [Read more...] about S&P: Some utilities have less 'financial cushion' to maintain credit quality in recession
Corporate News
BlackRock, Morgan Stanley to utilities: Tackle climate-related risks or lose market value
Financial market data shows utilities that address risks associated with the changing climate see significant benefits, and utilities that do not lose market value. Analyses from BlackRock, Morgan Stanley and others reflect what the world is learning in the COVID-19 fight: Aggressive action proactively addressing systemic risk produces better outcomes than pretending there is … [Read more...] about BlackRock, Morgan Stanley to utilities: Tackle climate-related risks or lose market value
Goldman on how the 'largest economic shock of our lifetimes' will permanently alter energy markets
A picture taken on March 26, 2020, shows a car driving on a road next to the King Abdullah Financial City in the Saudi capital Riyadh, after the Kingdom began implementing an 11-hour nationwide curfew, on the day of an emergency G20 videoconference, to discuss a response to the COVID-19 crisis. (Photo by FAYEZ NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty … [Read more...] about Goldman on how the 'largest economic shock of our lifetimes' will permanently alter energy markets
Coronavirus Update March 24: Weekly Member Briefing and Annual Meeting Information
Update #3: March 24, 2020, 5:20 p.m. On March 23 and 24, PJM provided the following updates on additional precautions PJM is taking in connection with the coronavirus (COVID-19) outbreak: Weekly Stakeholder Briefings PJM will hold weekly stakeholder briefings on PJM’s pandemic response.The next briefing is scheduled for March 27 at 11 a.m. Please register to join … [Read more...] about Coronavirus Update March 24: Weekly Member Briefing and Annual Meeting Information
PG&E Will Plead Guilty to Involuntary Manslaughter in Camp Fire
ImageThe Camp Fire burning along a ridge in Northern California in 2018.Credit...Noah Berger/Associated PressPacific Gas & Electric, California’s largest utility, said Monday that it had agreed to plead guilty to involuntary manslaughter in connection with the Camp Fire, the state’s deadliest wildfire.California regulators determined last year that … [Read more...] about PG&E Will Plead Guilty to Involuntary Manslaughter in Camp Fire