Monday, December 23

Tag: Electricity/Gas Utilities

The New Green Investment: Getting Clean Energy to Big Cities
4Dec By adminNo Comments
Money

The New Green Investment: Getting Clean Energy to Big Cities

U.S. cities racing to cut their emissions are facing a roadblock: They can’t access the wind and solar power being developed in remote sites hundreds of miles away.Now a group of investors is betting on a startup that builds massive transmission lines to carry renewable electricity to urban areas.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
The New Green Investment: Getting Clean Energy to Big Cities
4Dec By adminNo Comments
World

The New Green Investment: Getting Clean Energy to Big Cities

U.S. cities racing to cut their emissions are facing a roadblock: They can’t access the wind and solar power being developed in remote sites hundreds of miles away.Now a group of investors is betting on a startup that builds massive transmission lines to carry renewable electricity to urban areas.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails
4Dec By adminNo Comments
World

Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails

SYDNEY—An US$11 billion bid for Origin Energy, one of Australia’s largest power companies, was rejected by its shareholders on Monday in a stark illustration of how investors are adopting different strategies to bet on the energy transition.Origin said that shareholders owning about 69% of its stock voted for the takeover, meaning that the bid made by a consortium led by Brookfield Asset Management fell short of the 75% approval threshold needed to secure a deal.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Origin Energy Board Rejects Revised Proposal from Brookfield, EIG
30Nov By adminNo Comments
World

Origin Energy Board Rejects Revised Proposal from Brookfield, EIG

SYDNEY—The board of Origin Energy on Thursday rejected a revised proposal from a consortium of investors led by Brookfield and EIG to acquire the Australian power company.Origin said that a shareholder vote on the consortium’s original proposal would proceed as planned at 2 p.m. on Dec. 4. Origin said the board continues to recommend shareholders vote in favor of that proposal.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis
29Nov By adminNo Comments
World

Brookfield’s Origin Saga Shows It’s Hard to Price Polluters—Analysis

Nov. 29, 2023 12:05 am ET|WSJ ProSYDNEY—At the heart of a nearly US$11 billion takeover tussle for the owner of several Australian coal-fired power plants is a key question for investors: how to value a major polluter that could also become a big enabler of the energy transition.It isn’t proving easy. A consortium led by Brookfield Asset Management has made an offer for Origin Energy worth 9.43 Australian dollars a share, equivalent to US$6.21 a share, that it says is fair to shareholders. Brookfield says it will spend up to US$30 billion on accelerating Origin’s shift to renewable energy and storage over the decade through 2033.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
The Secrets to Legendary Investor Charlie Munger’s Success
28Nov By adminNo Comments
Money

The Secrets to Legendary Investor Charlie Munger’s Success

Business and financial leaders made frequent pilgrimages to Los Angeles to hear Charlie Munger’s thoughts as he held court while peering through thick eyeglasses over high, rosy cheekbones.Among the attendees at his weekly “Friday lunch club” and periodic dinners were John and Patrick Collison, founders of the online payment firm Stripe; Bobby Kotick, chief executive of videogame company Activision Blizzard; Pradeep Khosla, chancellor of the University of California, San Diego; Maria Pope, chief executive of Portland General Electric, Oregon’s largest utility; and Howard Marks, co-founder of investment firm Oaktree Capital Management.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
The Secrets to Legendary Investor Charlie Munger’s Success
28Nov By adminNo Comments
World

The Secrets to Legendary Investor Charlie Munger’s Success

Business and financial leaders made frequent pilgrimages to Los Angeles to hear Charlie Munger’s thoughts as he held court while peering through thick eyeglasses over high, rosy cheekbones.Among the attendees at his weekly “Friday lunch club” and periodic dinners were John and Patrick Collison, founders of the online payment firm Stripe; Bobby Kotick, chief executive of videogame company Activision Blizzard; Pradeep Khosla, chancellor of the University of California, San Diego; Maria Pope, chief executive of Portland General Electric, Oregon’s largest utility; and Howard Marks, co-founder of investment firm Oaktree Capital Management.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Natural-Gas Pipelines Are Old. Will Regulators Let Utilities Invest in Them?
25Nov By adminNo Comments
World

Natural-Gas Pipelines Are Old. Will Regulators Let Utilities Invest in Them?

Utilities across the country are trying to boost spending to maintain aging natural-gas pipelines. Regulators in some Democratic states seeking to limit gas use are saying not so fast.Companies including PG&E, Consolidated Edison and Public Service Enterprise Group have proposed investing billions of dollars to bolster their pipeline networks, which will remain in use for years even as more customers use electricity to cook and heat their homes. They say such spending is necessary in part to maintain safety and reliability as they work to shrink their gas systems over time. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Brookfield Consortium’s Revised Origin Energy Offer Fails to Convince Biggest Shareholder
23Nov By adminNo Comments
World

Brookfield Consortium’s Revised Origin Energy Offer Fails to Convince Biggest Shareholder

Updated Nov. 23, 2023 12:11 am ETSYDNEY—A consortium led by Brookfield Asset Management made last-ditch changes to its near US$11 billion offer for Origin Energy but failed to convince Origin’s biggest shareholder to back the deal.The revised proposal, submitted Wednesday evening, forced the Australian energy company to postpone Thursday’s Sydney shareholder meeting just two hours before it was due to start. Shareholders, led by superannuation fund AustralianSuper, were unlikely to sufficiently support the prior offer, said Origin, as it postponed the shareholder meeting to Dec. 4.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More