FuelCell Energy soars on hopes of incentives
WASHINGTON, D.C. - FuelCell Energy Inc shares rose 20 percent on what one analyst termed as bullish bets by investors on a push for government incentives by the fuel-cell industry.
The surge came after The Washington Times quoted a FuelCell Energy executive as saying his company was working with Congress for "special attention in upcoming bills."
Raymond James analyst Pavel Molchanov said if the fuel-cell industry could get the Waxman-Markey climate change bill amended to provide more support for the sector, it would bode well for FuelCell Energy, which makes fuel-cell power plants for electric power generation.
The Waxman-Markey bill, which has been passed by the House of Representatives but not by the Senate, mandates a 5 percent increase in energy efficiency by 2020.
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Electricity users in Newfoundland have started paying for Muskrat Falls
ST. JOHNS - With their July electricity bill, Newfoundland Power customers have begun paying for Muskrat Falls, though bills haven't significantly increased — yet.
In a July newsletter, Newfoundland Power said electricity bills were set to decrease by 6.4 per cent as part of the annual rate stabilization adjustment, which reflects the cost of electricity generation.
Instead, that decrease has been offset by a 6.1 increase in electricity rates so Newfoundland and Labrador Hydro can begin recovering the cost of Muskrat Falls, the $13-billion hydroelectric megaproject that is billions over budget and years behind schedule.
That means for residential customers, electricity rates will…
