Entergy Corporation (ETR) earlier today announced that it expects GAAP earnings and operational earnings to be approximately $2.31 per share and $2.39 per share, respectively, in the third quarter of 2009. This is low compared to the year-ago GAAP numbers of $2.41 per share and operational results of $2.50 per share.   The anticipated decrease in the quarter’s operational earnings is due primarily to lower results at the Utility, Parent and Other segment, partially offset by increased earnings at Non-nuclear Wholesale Assets segment. Utility, Parent & Other is expected to clock lower year-over-year operational earnings in third quarter 2009, primarily due to the absence of the 2008 adjustment reducing income tax expense and higher operation and maintenance expense. Entergy's Non-nuclear Wholesale Assets quarterly operational results are expected to improve due to the absence of the 2008 adjustment increasing income tax expense on account of the redemption of an ...

Entergy Corp.’s (ETR) proposed spin-off of its Non-utility Nuclear power business has been relegated to fiscal 2010. Recently, the New York Public Service Commission’s two administrative law judges in a ruling stated their apprehension regarding the new company having the financial viability to operate three units located in the state of New York. Of this, two units are located in the Indian Point Energy Center in Westchester County and a reactor at the James A. Fitzpatrick station in Oswego County. The New York Public Service Commission expressed its apprehension that the $3.5 billion worth of long-term unsecured bonds that Entergy plans to issue for the spin-off will drag down the bond rating of the new company, affecting its financial capacity. The Commission has also relegated its next hearing to December 2009 followed by a final decision on the spin-off in January 2010. Entergy has been ...

Entergy Corporation’s (ETR) utility subsidiary Entergy Arkansas has requested from the Arkansas Public Service Commission a $223 million hike in the base rate late last week. Entergy Arkansas supplies electricity to 684,000 customers spread across 63 counties in the state of Arkansas. The requested hike was to cover the cost of purchase of the Ouachita plant and restoration costs associated with the January 2009 ice storm in northern Arkansas. As per company estimations, this would raise the bill of an average residential customer with a monthly consumption of 1,000 kilowatt-hours by $7.86. Entergy Arkansas officials, however, feel that the actual burden would be much less. The improvement is expected to stem from lower fuel costs, which would improve on account of a decrease in natural gas prices. New Orleans-based Entergy is primarily engaged in electric power production and retail distribution of power. With 30,000MW of ...

Entergy Corp. (ETR) recently got a breather as the Nuclear Regulatory Commission approved a pending half-yearly extension on its spin-off effort. The Nuclear Regulatory Commission has given Entergy an additional six months to get the pending regulatory approvals in New York and Vermont and procure the required financing to spin off five nuclear plants. Earlier in May, Entergy had requested a six-month extension to tide over the hurdles.

Entergy wants to spin off the nuclear plants as a new company – Enexus Energy Corp. The nuclear plants are Pilgrim in Plymouth, Massachusetts; Vermont Yankee in Vernon, Vermont; Indian Point in Westchester County, New York; Fitzpatrick in Oswego County, New York and the Palisades plant in Covert, Michigan.

Entergy plans to finish the spin-off of its non-utility nuclear power business by end of 2009. The spin-off will leave the company with five regulated utilities and other assets in the

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Con Edison Announces 2009 Earnings GuidanceConsolidated Edison (ED) announced that it expects 2009 earnings per share from ongoing operations to be within the range of $3.00 to $3.20 per share.The new 2009 earnings guidance considers the effects of the recently approved Consolidated Edison Company of New York electric rate order, including the company's plan with respect to austerity measures that the rate order directed the company to file with the New York State Public Service Commission.In addition, for 2009, the company now expects to spend approximately $2.3 billion for capital investments, virtually all of which will be spent at the company's regulated utilities.The diversified utility holding company also expects to issue common stock of between $150 million and $400 million in addition to stock issuances under the company's dividend reinvestment and employee stock plans. This is a decrease from the ...

TEMPE, Ariz.--April 3 2009--First Solar, Inc. (Nasdaq: FSLR) today announced that it has completed its acquisition of OptiSolar's photovoltaic project pipeline. First Solar expects to construct the solar power plants developed under the pipeline over the next several years and sell them to a combination of regulated utilities, diversified energy companies and other independent power producers.

Consolidated Edison (ED) Reports Earnings for Fiscal Year 2008

Consolidated Edison (ED) reported earnings for the 4th quarter and fiscal year ended December 31, 2008. In the reported quarter, net income was $160 million or $0.58 per share (basic and diluted), compared with $207 million or $0.76 per share (basic and diluted) for the 4th quarter of 2007.

Excluding a gain on the sale of Con Edison Development’s generation projects, discontinued operations and net mark-to-market effects of competitive energy businesses, earnings from continuing operations during the reported quarter came to $200 million or $0.72 a share, compared with $191 million or $0.71 a share in the year-ago quarter.

Operating revenue in fiscal 2008 increased marginally to $13.6 billion from $13.1 billion in fiscal 2007. For the full year 2008, the company reported earnings of $1.2 billion, or $4.38 (basic) and $4.37 (diluted) per share, compared to earnings of $929 million, or $3.49

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This year has been a big win for those who have been rooting for a larger renewable energy industry and reduced dependence on carbon based fuels. There have been several initiatives, legislation, and events that are expected to invigorate the growth of solar, wind, and other alternative energy markets.

– In October, the 30-percent Federal Investment Tax Credit (ITC) was extended for 8 years. Notably, this extension removed the low monetary caps for residential installations. Additionally, for the first time, publicly regulated utilities can now monetize the ITC, making direct investment into solar project assets less costly.

– In November, the Environmental Protection Agency (EPA) rejected a permit for a new coal-fired power plant in Utah. The Kansas Department of Health and Environment also denied permits for two large coal-fired units. Each of these decisions results in a reduction of greenhouse gas pollution as well as questions the future of

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