American Airlines plans to park about 10 percent of its MD-80 fleet this year and trim domestic capacity to stem losses from sky-high fuel prices. Get the full story »
Filed under: Energy
AES Corp. will buy the regional power company DPL Inc. for about $3.5 billion in cash, the companies said Wednesday, accelerating a consolidation in the industry that is already well under way.
With costs rising and environmental regulations on the horizon, utilities are bulking up so that they can better shoulder the load. The recession also hit the sector hard because major customers like industrial plants and factories have shut down. Get the full story »
Soon electric vehicle owners looking for somewhere to charge up will need little more than Google.
The U.S. Department of Energy said Tuesday that a new partnership will draw on Google Maps to create an online network of all the charging stations in the country and will serve as a primary data source for GPS and mapping services to track electric vehicle charging locations. Get the full story »
The fund established to compensate Gulf Coast residents in the aftermath of last year’s massive BP oil spill said Monday it has paid out $3.8 billion so far. Get the full story »
President Barack Obama said there are no quick fixes to bring down rising gasoline prices and urged caution about being too quick to tap U.S. emergency oil reserves amid uncertainty in the Middle East.
“There aren’t going to be a lot of great short-term solutions to this problem,” Obama said in an ABC interview aired Friday. Get the full story »
The average price of gasoline is now above $4 per gallon in five states, and it could rise to that level in New York and Washington, D.C., this weekend.
The national average has increased for 24 straight days, hitting $3.82 per gallon on Friday. It’s above $4 in Illinois, Connecticut, California, Hawaii and Alaska. Get the full story »
From Bloomberg News | U.S. nuclear-power output slipped for a second day as Scana Corp. slowed its Summer reactor in South Carolina and Exelon Corp. slowed the 1,152-megawatt Braidwood 2 reactor in Illinois to 91 percent of capacity from 97 percent yesterday.
The U.S. Bankruptcy Court has approved the sell of 60 properties by Frankfort-based Gas City Ltd. to various buyers for more than $135 million.
Gas prices across Illinois and Indiana continued to climb in April from continuing unrest in the Middle East and the annual switchover to a more expensive summer blend of gasoline, according to AAA Chicago. It marked the first time the monthly average has been above $4 a gallon since July 2008.
Monthly average prices in Illinois and northern Indiana reached $4.02 and $3.90 respectively, AAA said this morning in its Fuel Gauge Report. In Illinois, regular unleaded gasoline has increased 39 cents during the past month and per-gallon prices are $1.02 higher than last year. Get the full story »
TribLocal | It appears the Gas City stations in the area could become Speedway or Circle K stations.
According to multiple reports citing bankruptcy court records, Speedway LLC and Canada’s Alimentation Couche-Tard Inc., the owner of Circle K, will purchase 32 of the 50 stations owned by Frankfort-based Gas City Ltd.
Even as Commonwealth Edison fights in Springfield for legislation that would set utility rates by formula and sharply undercut the authority of the Illinois Commerce Commission, at home, that same regulatory body is undercutting ComEd in its battles for rate increases.
Administrative law judges recommended that Commonwealth Edison Co. be allowed a rate increase of about 3 percent, or $166 million, less than half what the Chicago-based utility requested last June. Get the full story »
U.S. agribusiness and trading giant Cargill said on Wednesday its quarterly earnings rose 30 percent, lifted by its grain processing business. Get the full story »
Crude fell more than $3 on Tuesday as Goldman Sachs warned again of a price reversal and key forecasters said expensive oil could erode demand. Get the full story »
Energy companies, airlines and other end-users would be mostly exempt from having to put up costly collateral when using uncleared swaps to hedge their business risks, under a proposal issued by U.S. bank regulators on Tuesday. Get the full story »
Rising oil prices are unlikely to push up core inflation and thus should not trigger any interest-rate hikes from the U.S. Federal Reserve, according to research from a top Fed official on Monday. Get the full story »