HECO gets piece of $3.4 billion to modernize grid
HAWAII - President Barack Obama announced $3.4 billion in funding for projects to modernize the nation’s electricity grid — the largest group of economic stimulus awards ever made in one day.
The government funds will be matched by more than $4.7 billion in private-sector investments. The awards went to 100 companies, utilities, manufacturers and cities across the nation. They included $5,347,598 to Hawaiian Electric Co. to upgrade its electrical grid.
The largest chunk of the government funding — $2 billion — went to projects that will integrate different “smart grid” components, such as smart meters and automated substations, into one system. Another $1 billion was directed to projects that expand consumer access to smart meters and other systems that will enable them to run appliances and equipment when electric rates are the lowest.
About $400 million will go to projects that will reduce the amount of power that is wasted in its journey from the power plant to the end user.
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More red ink at Manitoba Hydro as need for new power generation looms
WINNIPEG - Manitoba's NDP administration has declared its intention to formulate a strategy for financing new energy ventures, following a decision to halt the development of additional private-sector wind farms. This plan will accompany efforts to stabilize hydroelectric rates and manage the financial obligations of the province's state-operated energy company.
Finance Minister Adrien Sala, overseeing Manitoba Hydro, shared these insights during a legislative committee meeting on Thursday, emphasizing the government's desire for future energy expansions to remain under public ownership and expressing trust in Manitoba Hydro's governance to realize these goals.
This announcement was concurrent with Manitoba Hydro unveiling increased financial losses…
