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Sempra, Consolidated Edison Partner in Two Solar Power Plants

Consolidated Edison Inc. (ED) formed a partnership with Sempra Energy (SRE) that gives the utility company a 50% interest in two Sempra U.S. Gas & Power solar facilities.Financial terms weren't disclosed.Sempra U.S. Gas & Power said it will continue to provide operations and maintenance services to both 150-megawatt plants, one near Las Vegas and the other near Phoenix."This strategic partnership bolsters Sempra U.S. Gas & Power's ongoing plan to improve its financial returns, deconsolidate debt and redeploy the proceeds from the transaction into new renewable growth projects," said Kevin C. Sagara, vice president of renewables and corporate development for Sempra U.S. Gas & Power.Sempra owns electric and natural-gas utilities in California, utilities in South America, and natural-gas pipelines and storage facilities and liquefied-natural-gas terminals in the U.S. and Mexico. The company's bottom line has been challenged by decade-low U.S. natural-gas and power prices of late.Last week...

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  1. Snowstorm Worsens Power Outages in Northeast U.S.

    A snowstorm brought a fresh round of power outages to the Northeast, hampering efforts by utilities in New York, New Jersey and other states in the region to restore...

  2. Latest Northeastern Storm Could Slow Power Recovery Efforts

    Northeastern utilities still grappling with outages from Hurricane Sandy braced themselves Wednesday for the arrival of another storm that could delay the recovery e...

  3. Northeast Utilities Restore Power; Fewer Than One Million in the Dark

    Utilities in New York, New Jersey and other states trimmed the number of customers still without power to less than one million, while keeping an eye on a new storm ...

  4. Moody's sees Sandy hit to casinos, benefit to retailers

    Superstorm Sandy will slash earnings at New Jersey casinos and benefit home repair and discount retailers but have limited impact on other sectors and is unlikely to...

  5. Northeast U.S. Utilities Restore Power; Fewer Than One Million in the Dark

    Utilities in New York, New Jersey and other states trimmed the number of customers still without power to less than one million, while keeping an eye on a new storm ...

  6. Utilities Continue Post-Sandy Work, Watch Coming Storm

    Crews in New York and New Jersey continued repairing power lines and other electrical equipment damaged by Sandy, while utilities tracked a new storm that could brin...

  7. ConEd 3rd-Quarter Profit Up 15% Helped by Rate Increases

    Consolidated Edison Inc.'s (ED) third-quarter earnings jumped 15% as the utility company increased its rates, though electric sales slipped.The utility, which serves...

  8. Utilities Continue Post-Sandy Work, Eye Coming Storm

    Crews in New York and New Jersey continued repairing power lines and other electrical equipment damaged by Sandy, while utilities tracked a new storm that could brin...

  9. Storm Causes Scramble in New York Bankruptcy Community

    New York City is crawling back to normal after last week's crippling storm, but the U.S. Bankruptcy Court building in Lower Manhattan remains paralyzed, forcing a sc...

  10. Millions in Northeast Still in the Dark Days After Storm

    More than 2.5 million utility customers in New York, New Jersey and other states remained without electricity Saturday as utility company crews struggled to repair w...

  11. Reports of Theft in New York After Sandy

    EDI & The Wolf Restaurant’s Eduard Frauneder on the thefts taking place in New York City particularly in areas still without power.

  12. ConEd Says Power Restored In Part Of East Village

    Power has been restored to over 65,000 customers on the Lower East Side and East Village areas of New YorK City, Con Edison said Friday.Copyright © 2012 MarketWatch,...

  1. Five Types of Energy Stocks to Power Returns

    Energy stoc ks may be the right fuel for your portfolio this year.Despite a lackluster showing last year, the sector is undervalued, is paying handsome dividends and...

  2. Consolidated Edison 1st-Quarter Profit Down 31% on Charge

    Consolidated Edison Inc.'s (ED) first-quarter earnings fell 31% as a charge related to a lease-in lease-out transaction weighed on the utility company's bottom-line ...

  3. Firms Look to Cash In on Coming Energy Revolution

    Burgeoning global growth is set to ignite a $37 trillion revolution in the energy market. And while the transformation is going to take decades, firms are already be...

  4. Market Digests Nearly $10 Billion of New Corporate Bonds

    The corporate bond market had its busiest session for new deals in more than a month Monday, as companies finish the earnings season and switch their focus to fundin...

  5. ConEd 4th-Quarter Profit Up 8.9% on Lower Tax Expense, Mark-to-Market Gain

    Consolidated Edison Inc.'s (ED) fourth-quarter earnings rose 8.9% as the utility company recorded a mark-to-market gain from its competitive energy businesses and a ...

  6. Jobless Claims Jump to 439,000

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  7. Gas Rationing Spreads to NY in Wake of Sandy

    New York City drivers will wake up on Friday to the first widespread gas rationing since the fuel crisis of the 1970s, as the U.S. Northeast struggles to recover fro...

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