Tulsa, Oklahoma based Williams Cos; the natural gas pipeline company slashed its quarterly dividend by sixty nine percent in order to be able to reinvest almost $1.7 billion into Williams Partners till 2017. The affiliated company requires greater financial flexibility within that period.
While announcing its Q2 earnings statement on Monday, Williams said it reduced its payout from 64 cents to 20 cents. Reportedly, the reduction came for the first time in almost ten years.
Governor Andrew Cuomo's ambition to see New York as a national leader in cutting down pollution from power generation, gets a new push. On Monday, the state's Public Service Commission approved and passed a new set of standards which aims at ensuring that at least half of New York's energy comes from renewable sources by 2030. That includes sources like solar, wind and also hydro plants. In those, some amount of energy can be also counted in from off-shore winds along the coasts and geothermal power.
June Beach, Florida based Power producer NextEra Energy Inc said it agreed to acquire bankrupt Energy Future Holdings Corp's stake in Oncor Electric Delivery Co for $18.4 billion.
After the deal, NextEra will get access to the biggest network of power lines in Texas. The company gets success after almost one year's effort to buy Oncor. NextEra's shares moved up 0.5 percent during morning trading hours.
Oil prices continued their rollercoaster ride in the past week.
Last week, the global oil markets saw prices go up and down as traders tracked the investors growing appetite for taking risk, as dollar fluctuated and the market was struck with supply glut concerns.
On Monday last week, crude futures started on the back foot with a slide as US drilling activity increased. Dollar strengthened and gained from better-than expected US jobs report in the past week.
Mississippi Power started producing syngas at the Kemper County energy facility. Syngas is produced using lignite coal. This is the most significant milestone for the plant's history.
Syngas is produced when lignite is heated at high temperatures in the Kemper plant's gasifiers which convert coal to gas.
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