Here's our Power Generation & Supply Roundup for the month of May 2020, with interesting information about fresh industry drivers, new and notable mergers and acquisitions. Enjoy, and don't forget to share your feedback with us on how we can continue to improve!
Status: Effective
Organization: The White House
Summary: On May 1, 2020, U.S. President Donald Trump, issued an executive order forbidding the acquisition, importation, transfer, or installation of any bulk-power system electric equipment where the transaction includes property in which a foreign country or national has any interest. The Secretary of Energy determines that the sale poses risks to the U.S. bulk-power system, critical infrastructure, or national security. The Order is effective immediately, but its definite range and operation are yet to be determined by implementing regulations that are still not issued. The Order directs the Secretary of Energy to publish such rules within 150 days and to establish procedures to license transactions that would contrarily be banned by the Order. However, such licenses may be contingent upon the adoption of mitigating measures.
Status: Proposed
Organization: Indiana Utility Regulatory Commission
Summary: On May 8, 2020, Indiana's utility companies, conjointly named Joint Petitioners, submitted a request to the Indiana Utility 2 Regulatory Commission requesting approval to postpone, as a regulatory asset, additional expenses, and collecting revenue reductions related to the pandemic. In the petition document, each Joint Petitioner addressed repayment programs for past due amounts during/as a result of the COVID-19 pandemic. Programs will allow customers to repay debts over long periods of time.
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Status: Effective
Organization: The US Department of Energy (DOE)
Summary: On May 14, 2020, the Department of Energy (DOE) revealed the launch of the Advanced Reactor Demonstration Program (ARDP) with the intention to support the US-based private industries to demonstrate their advanced nuclear reactors on the U.S. soil.
It's worth mentioning that advanced nuclear energy systems hold enormous potential to lower emissions, create new jobs, and build an even stronger economy.
The Advanced Reactor Demonstration Program (ARDP) is backed with a $230 million Congress appropriated funding. ARDP will provide $160 million in initial funding to build two reactors that can be operational within the next 5 to 7 years. Also, ARDP will seek to leverage the National Reactor Innovation Center (NRIC) to let developers test and assess ARD technologies.
Applicants can receive support through three different development and demonstration pathways.
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The following M&A transactions in the Power Generation and Supply Industry stand out in the month of May:
In this over-digitized age, there is no place for face-to-face meetings with your prospects and customers! However due to the impact of the COVID19, the following organizations have updated their meetings approach.
(Canceled) AWEA Cleanpower - 2020, Jun. 1 to Jun. 4, 2020, Denver, Colorado, http://ow.ly/NhsM50zsgos
(Canceled) The APPA National Conference - 2020, Jun. 5 to Jun. 10, 2020, Long Beach, California, http://ow.ly/o81V50zsgvT
(Rescheduled) Fuel Ethanol Workshop & Expo - 2020, Omaha, Nebraska, from Jun. 15 to Jun. 17, 2020 to Aug. 24 to Aug. 26, 2020, http://ow.ly/MTzs50zsgyh
(Rescheduled) Virtual Conference - IEEE Transportation Electrification Conference and Expo - 2020, from Jun. 24 to Jun. 26, 2020 to Jun. 22 to Jun. 26, 2020, Chicago, Illinois, http://ow.ly/fYvH50zsgxc
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