Power Plant Construction Hits Record Year
NEW YORK -- - More than 54,000 megawatts of new US power generation were completed in 2002, a record year for construction despite the ongoing financial problems at many energy companies, according to Energy Argus.
The 54,019MW is about three-quarters of the plants expected to come online last year, showing the impact of spending cuts at some utilities. Nearly all of the new plants are fueled by natural gas, which is capturing a growing share of the electric generation fleet.
While electricity demand in 2002 rose 2.8 percent, faster than expected, the growth in new supply was closer to 7 percent. That has led power prices in many regions to drop and power producers and trading firms to struggle.
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Nova Scotia Premier calls on regulators to reject 14% electricity rate hike agreement
HALIFAX - Nova Scotia Premier Tim Houston is calling on provincial regulators to reject a settlement agreement between Nova Scotia Power and customer groups that would see electricity rates rise by nearly 14 per cent over the next two years.
"It is our shared responsibility to protect ratepayers and I can't state strongly enough how concerned I am that the agreement before you does not do that," Houston wrote in a letter to the Nova Scotia Utility and Review Board late Monday.
Houston urged the three-member panel to "set the agreement aside and reach its own conclusion on the aforementioned application."
"I do…
