Allison W. Good
Verified
Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Allison W. Good
PJM auction delay complicates independent power producers' stock price recovery
US independent power producer valuations may be due for a rebound, industry analysts said, just days before the Federal Energy Regulatory Commission delayed a key capacity auction. In the last 12 months, shares of Vistra Corp., Constellation Energy Corp., NRG Energy Inc. and Talen Energy Corp. have declined 30%, 22%, 41% and 28%, respectively, as of the Sept. 28 market close, contrasting sharply with the high-double and triple-digit percentage increases that dominated 2024.
PG&E Corp. launches strategic review, shares fall 10%
PG&E Corp. launched a strategic review aimed at working toward investment-grade credit ratings as the lack of comprehensive wildfire liability reform in California continues to weigh on the the utility company. Shares of PG&E Corp. plummeted on Aug. 31 after California lawmakers filed legislation that fell short of the reforms that operating arm Pacific Gas and Electric Co. (PG&E) and other investor-owned utilities have been seeking for years.
California utility stocks slide on wildfire legislation
Shares of PG&E Corp. and Edison International plummeted on Aug. 31 after California lawmakers filed legislation falling short of the comprehensive wildfire liability reform that investor-owned utilities have been seeking for years. The legislation, Senate Bill 492, also leaves out key proposals backed by Governor Gavin Newsom (Democrat). PG&E Corp.'s stock price traded as low as $13.09 on the morning of Aug. 31, down 21% from the Aug.
Renewables developers work deals while awaiting US guidance on foreign sourcing
US renewable energy tax credit monetization and debt financing are expected to grow in 2026 even without firm US Treasury guidance regarding restrictions on components sourced from foreign entities of concern, according to a new report from Crux Climate Inc.
Data center demand has investors reevaluating US electric utility stocks
Utility stock prices have become more intertwined with data center power demand in recent years, prompting a valuation reassessment. Source: George Frey/AFP via Getty Images. AI data centers have upended the traditional investor view of electric utilities over the last two years, transforming a predictable industry that acted as a hedge against economic downturns into a growth sector with enormous upside, but also greater risk.
Energy industry sees few benefits in semiannual SEC reporting proposal
Energy investors and management teams are cautious of a proposed rule by the US Securities and Exchange Commission, above, to allow semiannual reporting of financial results. Source: ablokhin/iStock/Getty Images Plus.
NextEra-Dominion deal could ease PJM grid strain, but faces regulatory hurdles
NextEra Energy Inc.'s proposed $70 billion acquisition of Dominion Energy Inc. could face substantial regulatory obstacles, even though it makes strategic sense for both companies, industry analysts said. For Dominion, the deal offers a pivot away from the company's focus on ESG, which began in 2020 when it sold its midstream natural gas pipeline business, analysts at CreditSights wrote in a May 17 note following reports of a potential deal, which was announced the next day.
Renewables developers, producers argue against clean energy tax credits
Getting rid of clean energy tax credits would lower financing costs, eliminate federal regulatory risk and offer a less complex structure for funding wind, solar and storage projects, several renewables developers and independent power producers said.
Renewable energy buyers seek more contract flexibility to counter rising prices
Short-term power purchase agreements are gaining traction in the renewables sector as buyers seek greater flexibility and risk mitigation amid rising solar and wind prices. Solar PPA prices increased by 4.7% in the first quarter of 2026, up 13% year-over-year, according to an April 14 report by PPA marketplace LevelTen Energy Inc.
Renewable energy companies court buyers to unlock AI demand growth windfall
Renewables firms are increasingly turning to the M&A market to finance projects aiming to serve large-load customers like data centers, above. Source: Hugo Kurk/iStock/Getty Images Plus. A sector-wide push among North American renewable energy companies to capture soaring power demand by expanding beyond traditional wind, solar and storage projects is fueling a new wave of acquisitions.
Utilities trade focus on quarterly results for long-term outlooks
US electric utilities with exposure to significant load growth from industrial developments such as data centers are forecasting higher earnings growth. Source: Gerville / iStock / Getty Images Plus. As data center development fuels an unprecedented wave of large-load customer contracts, US electric utilities are emphasizing long-term spending and growth visibility over quarterly financial benchmarks.
AES shares fall after long-awaited $10.7B take-private acquisition is announced
AES Corp. shares tumbled March 2 after the company announced a consortium led by BlackRock Inc. subsidiary Global Infrastructure Management LLC and EQT AB agreed to take it private for $10.7 billion. The all-cash deal, which includes the California Public Employees' Retirement System and the Qatar Investment Authority as co-underwriters, values AES shares at $15 each and carries an enterprise value of approximately $33.4 billion, including assumed debt.
IPPs face competition from distributed power in race to energize data centers
Providers of modular, behind-the-meter power generation are gaining a substantial foothold in the race to energize large load customers, offering bespoke solutions across the data center value chain while independent power producers struggle to connect large loads to the grid. Interconnection queue bottlenecks, regulatory processes and yearslong wait times for large gas turbine deliveries have prevented Constellation Energy Corp., Vistra Corp., Talen Energy Corp. and NRG Energy Inc.
US renewables developers under pressure as solar, wind tax credits sunset
The US renewables sector is laser-focused on the tightening window to begin construction going into 2026 as developers race against sunsetting solar and wind tax credits and significant risks to the anticipated build-out mount.
Intersect deal unlocks power generation build-out expertise for Google
Alphabet Inc.'s planned $4.75 billion acquisition of Intersect Power LLC indicates a significant shift in how hyperscalers and other data center infrastructure companies procure both electricity and the skills needed to build power generation, analysts and experts said.
Data center developers turn to distributed behind-the-meter power
Modular, behind-the-meter power generation solutions are gaining traction among data center developers looking to bypass regulatory and interconnection hurdles, posing a growing challenge to independent power producers' contracting models, analysts at Barclays wrote Oct. 21. While companies such as Vistra Corp., Constellation Energy Corp., Talen Energy Corp. and NRG Energy Inc.
North American wind, solar power contract prices increase in Q2 - LevelTen
North American wind, solar power contract prices increase in Q2 – LevelTen US efforts to protect solar manufacturers from a glut of cheap overseas supplies may have driven second-quarter power purchase agreement prices higher, according to LevelTen Energy. Source: Mario Tama/Getty Images News via Getty Images.
PJM utilities defend challenge to Talen's datacenter supply deal
American Electric Power Co. Inc. and Exelon Corp. are maintaining that Talen Energy Corp.'s pending application to deliver 480 MW of colocated load to an Amazon.com Inc. datacenter requires the Pennsylvania nuclear plant providing the power to incur system charges from PJM Interconnection LLC.
Talen asks FERC to reject PJM utilities' challenge to datacenter supply deal
Talen Energy Corp. asked federal regulators to deny a protest by American Electric Power Co. Inc. and Exelon Corp. of an interconnection service agreement for the colocation of an Amazon.com Inc. datacenter campus at the Susquehanna Nuclear site.
2 PJM utilities dispute Talen plant's ability to serve datacenter off grid
___ latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/2-pjm-utilities-dispute-talen-plant-s-ability-to-serve-datacenter-off-grid-82222955 content esgSubNav 2 PJM utilities dispute Talen plant's ability to serve datacenter off grid Exelon Corp. and American Electric Power Co. Inc. protested PPL Corp.'s interconnection service agreement with Talen Energy Corp.'s Susquehanna Nuclear facility, saying the colocation of an Amazon.com Inc.
Investors may overestimate benefits to utilities of datacenter boom - Scotiabank
The financial benefits for US electric utilities of ballooning demand for datacenters, and the power they will require, could materialize more slowly and less substantially than many industry participants and investors expect, according to analysts at Scotiabank.
NextEra touts interconnected generation sites to meet datacenter power demand
NextEra Energy Inc.'s portfolio of interconnected renewable generation, and a more developed pipeline of additional clean energy on the way, is an enormous advantage for capturing the upside from datacenter demand, Chairman, President and CEO John Ketchum said June 11. "Investors are asking the wrong question," Ketchum said during NextEra's investor conference presentation. "We focused so much on [power purchase agreements], right? How many PPAs did you sign [in] the quarter?
Investment needs, commodities-sensitive customers drove $6.2B Allete takeover
The Canada Pension Plan Investment Board and Global Infrastructure Partners' planned $6.2 billion take-private deal for Allete Inc. should help the Minnesota company better manage volatility within its renewables business and from industrial utility customers, industry analysts said, also suggesting the transaction does not portend a broader pickup of M&A activity in the sector. The acquisition amount represents a premium of approximately 19.1% to Allete's closing share price Dec.
Gas crucial to datacenter power supply until long-duration battery tech matures
Asdemandfrom large tech companies for uninterruptible electricity supplies rises, natural gas will likely account for the majority of incremental capacity additions until long-duration energy storage technology can serve as a baseload power source, industry analysts said.
Final IRS renewables tax credit transfer rule keeps guidelines intact
A long-awaited final rule released April 25 outlining how tax credits for clean energy projects can be transferred under the Inflation Reduction Act made no significant changes to the guidance under which renewable developers and investors have been operating.
GE Vernova wind turbine strategy 'consistent' despite NY project cancellations
GE Vernova Inc.'s decision to halt production of a larger wind turbine was essential to the newly public company's balance sheet repair strategy, CEO Scott Strazik said, despite the repercussions for several New York offshore wind projects.
Utilities poised for datacenter earnings boost, want clarity on cost recovery
While several regulated utility companies stand to benefit enormously from datacenter electricity demand, cost recovery provisions for electric infrastructure projects supporting those customers will be essential for keeping their credit ratings intact, analysts said. Entergy Corp., Pinnacle West Capital Corp., Southern Co. and WEC Energy Group Inc.
Datacenter demand drives financial resurgence for independent power producers
US independent power producers' stock prices are soaring ahead of expected financial windfalls as electricity markets tighten, with datacenters' projected energy needs fueling much of that surging demand. Since providing details about datacenter-related opportunities during their full-year 2023 earnings calls, Vistra Corp., Constellation Energy Corp. and NRG Energy Inc. shares have spiked 34%, 39% and 22%, respectively, as of the March 26 close.
Calif. law judge recommends rejecting proposed PG&E generation spinoff
An administrative law judge has recommended the California Public Utilities Commission reject Pacific Gas and Electric Co.'s application to spin off its 5.6-GW non-nuclear generation portfolio into a stand-alone entity.
Private equity wades deeper into US offshore wind investments
March 7, 2024 — Challenging economics faced by later-stage US offshore wind projects struggling to get across the finish line are not deterring private equity firms from investing in various parts of the value chain.
Private equity wades deeper into US offshore wind investments
Challenging economics faced by later-stage US offshore wind projects struggling to get across the finish line are not deterring private equity firms from investing in various parts of the value chain.
Talen Energy sells Pa. datacenter campus to Amazon Web Services for $650M
Talen Energy Corp. affiliate Cumulus Growth Holdings LLC sold its hyperscale datacenter campus in Pennsylvania to Amazon Web Services Inc. for $650 million. The campus, which has up to 960 MW of datacenter capacity, is adjacent to and will be powered by Talen's 2,494-MW Susquehanna Nuclear power plant in Luzerne County, Pa. The independent power producer will both supply nuclear energy through a power purchase agreement and earn additional revenue from the Amazon.com Inc.
Datacenter demand not yet 'actionable' for Vistra
Vistra Corp. is not yet ready to allocate a chunk of its capital to supporting datacenter clients behind the meter or on the grid, the independent power producer's chief executive said Feb. 28. "I would say that I'm not in the detail at a level of comfort yet that I would tell you that's actionable," Vistra President and CEO James Burke told analysts and investors during a fourth-quarter 2023 earnings call.
Constellation stock price jumps on nuclear tax credit earnings certainty
Constellation Energy Corp. shares were up about 13% in midday trading Feb. 27 after the nuclear plant operator introduced 2024 earnings per share guidance of $7.23 to $8.03 and $6 billion of free cash flow for 2024 and 2025 combined. Thanks to a new production tax credit (PTC), the floor price for nuclear energy sold by Constellation in 2024 will be $43.75/MWh, which "provides our fleet with significant downside protection ...
Exelon cuts Illinois spend by $1.25B through 2026 following regulatory rulings
Exelon Corp. anticipates spending $1.25 billion less on Illinois utility Commonwealth Edison Co. through 2026 in the wake of regulatory setbacks. The Illinois Commerce Commission (ICC) in December 2023 determined Commonwealth Edison's (ComEd) four-year grid plan plan did not adequately describe community benefits, transparency, affordability or cost-effectiveness and did not comply with the state's Climate and Equitable Jobs Act (CEJA) of 2021.
Demand for US East Coast offshore wind remains despite gust of disruptions
Canceled contracts, scrapped projects and multiple quarters of impairments have painted an increasingly dire picture for US offshore wind development in recent weeks, but many observers and analysts still anticipate these projects will get built.
Ørsted pulls Skipjack offshore wind projects out of Md. state contracts
Ørsted A/S announced Jan. 25 the suspension of its Skipjack offshore wind projects off the coast of Maryland, saying contracts approved by state regulators in 2017 and 2021 are no longer economically viable, and that the company plans to seek other offtake arrangements.
General Electric takes $1.1B hit to offshore wind business, eyes $4B backlog
General Electric Co.'s offshore wind business recorded a roughly $1.1 billion loss in 2023 as the company's power and renewable energy divisions gear up to become a stand-alone company, GE Vernova, during the second quarter of this year. Although inflation, high interest rates and supply chain bottlenecks have persisted into 2024, power and renewable division head Scott Strazik, who will take the reins at GE Vernova, anticipates that offshore wind's balance sheet will improve in 2025.
Private renewables M&A due for upturn after 2023 struggles
Private equity clean energy and renewables dealmaking in the US should begin to recover in 2024 after a year of high interest rates and a challenging fundraising environment dampened appetites for traditional takeovers, industry experts said. During the past year, large asset managers like Blackstone Inc. and Ares Management Corp.
Hydrogen developers, clean energy industry groups criticize tax credit guidance
Green hydrogen developers and renewable energy industry groups are assailing the stringent conditions stipulated in the US Treasury Department's long-awaited guidance for the hydrogen production tax credit. The proposed framework for the 45V hydrogen production tax credit (PTC) would require electricity that powers hydrogen production to come from new rather than existing clean sources, a concept known as additionality.
Steady returns to define renewables stock price performance in 2024
Renewable energy developers and suppliers earning growing, positive returns in North America should outperform the sector in 2024, according to Morgan Stanley analysts. AES Corp. and NextEra Energy Inc. should continue to provide "lower risk, lower volatility" exposure to renewables in the coming year even as soaring capital costs and demand for tax equity financing pressure contract prices and construction, Morgan Stanley wrote in a Dec. 8 report.
Plug Power shares fall 40% on liquidity warning
Plug Power Inc. shares have fallen 40% since Nov. 9, when the electrolyzer and green hydrogen manufacturer issued a going concern warning that it could run out of liquidity during the next 12 months. Reporting third-quarter revenue of $198.7 million and gross margin of negative 69%, the company had $1.3 billion of working capital as of Sept. 30, including unrestricted cash, restricted cash and securities, according to a Nov. 9 SEC filing.
Brookfield Renewable signals interest in offshore wind amid M&A marathon
Brookfield Renewable Partners LP will not rule out investing in the battered offshore wind sector as permitting risks decrease and developers potentially put assets on the market, CEO Connor Teskey said Nov. 3.
Equinor takes $300M impairment on NY offshore wind projects
Equinor ASA disclosed a $300 million impairment to its US offshore wind portfolio Oct. 27 following a decision by New York regulators rejecting a petition to increase power supply contract costs associated with the projects.
GE offshore wind business anticipates 'roughly' $1B loss in 2023
General Electric Co. executives said the company's offshore wind business expects to record a "roughly $1 billion" loss for 2023, though its onshore wind segment turned a profit in the third quarter thanks to a nearly 40% increase in North American equipment orders. "Next year, we expect offshore will have similar losses, but substantially improved cash performance," GE Chairman and CEO Larry Culp said Oct. 24 during the company's third-quarter earnings conference call.
US utilities, renewables stock selloff underscores concern over spending plans
The recent utilities and renewables stock price selloff, driven largely by higher interest rates, should not do long-term damage to either sector, industry analysts said. Since NextEra Energy Partners (NEP) announced a cut to its limited partner distribution per unit growth on Sept. 27, prompting selloffs at both the limited partnership and NextEra Energy Inc., which formed the yieldco, the S&P 500 Utilities Index and the S&P Global Clean Energy Index have both fallen about 7% as of the Oct.
NextEra partnership's value as drop-down financing vehicle in question
NextEra Energy Partners' distribution growth rate cut and subsequent stock sell-off indicate that the yieldco formed by NextEra Energy Inc. is no longer financially sustainable on its own, according to some industry analysts. NextEra Energy Partners (NEP) on Sept. 27 reduced its limited partner distribution per unit growth rate to 5% to 8% per year through at least 2026, from 12% to 15%. By the end of the day on Sept.
Hawaiian Electric CEO stands by Maui wildfire response in House energy hearing
Hawaiian Electric Co. Inc. President and CEO Shelee Kimura, testifying at a US House hearing Sept. 28, defended the utility company's actions that preceded a deadly August fire on Maui. Hawaiian Electric (HECO) subsidiaries Maui Electric Co. Ltd. and Hawaii Electric Light Co. Inc. serve customers on the island.
Utility stock prices slump as recession fears recede, interest rates remain high
A confluence of factors is contributing to underperformance of US-regulated utility stocks in 2023, including expanding risk appetites fueled by dwindling recession fears, high yields on US Treasury notes and increasing concern over wildfire exposure. So far in 2023, the S&P 500 Utilities Index has dropped nearly 9% compared to a 16% gain for the S&P 500 Index.
Compounding financial pressures cause struggles for US offshore wind sector
US offshore wind developers face mounting financial hurdles to meeting President Joe Biden's target of 30 GW of the resource by 2030, reflected most recently in Ørsted A/S' Aug. 29 announcement of anticipated impairments worth up to $2.3 billion.
Show More
loading
Actions
Get in touch with Allison W.
Contact Allison W., search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack