Canadian geothermal stocks on the rise

By Reuters


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Shares of geothermal energy companies listed in Canada leaped recently following a spate of positive announcements in recent weeks for this bombed-out corner of the clean power sector.

US Geothermal Inc rose as much as 35 percent, Nevada Geothermal Power Inc gained 11 percent and Magma Energy Corp was up nearly 14 percent at one point on the Toronto Stock Exchange on recent news of money starting to flow again into this cash-hungry industry.

"There has been a string of good news out of the sector," said Jacobs Securities analyst John McIlveen.

"They were all down almost 50 percent since the start of year. Much of the rest of the clean energy sector has already made its move back up," he said.

Earlier, Ram Power Corp announced it had closed a $160 million debt financing for its San Jacinto-Tizate geothermal project in Central America.

That follows news of Enbridge's investment of up to $23 million in U.S. Geothermal's Neal Hot Springs project.

"There is no specific news for Magma however there has been a lot of good industry news lately," said Magma spokeswoman Alison Thompson. "I suspect that this is helping all of us," she said in an email.

In geothermal power production, hot water and steam from deep underground are piped up and used to drive turbines in plants that generate electricity.

The industry has experienced a rash of mergers and acquisitions as small companies have struggled to capital to develop their projects.

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Here's what we know about the mistaken Pickering nuclear alert one week later

Pickering Nuclear Alert Error prompts Ontario investigation into the Alert Ready emergency alert system, Pelmorex safeguards, and public response at Pickering Nuclear Generating Station, including potassium iodide orders and geo-targeted notification issues.

 

Key Points

A mistaken Ontario emergency alert about the Pickering plant, now under probe for human error and system safeguards.

✅ Investigation led by Emergency Management Ontario

✅ Alert Ready and Pelmorex safeguards under review

✅ KI pill demand surged; geo-targeting questioned

 

A number of questions still remain a week after an emergency alert was mistakenly sent out to people across Ontario warning of an unspecified incident at the Pickering Nuclear Generating Station. 

The province’s solicitor general has stepped in and says an investigation into the incident should be completed fairly quickly according to the minister.

However, the nuclear scare has still left residents on edge with tens of thousands of people ordering potassium iodide, or KI, pills that protect the body from radioactive elements in the days following the incident.

Here’s what we know and still don’t know about the mistaken Pickering nuclear plant alert:

Who sent the alert?

According to the Alert Ready Emergency Alert System website, the agency works with several federal, provincial and territorial emergency management officials, Environment and Climate Change Canada and Pelmorex, a broadcasting industry and wireless service provider, to send the alerts.

Martin Belanger, the director of public alerting for Pelmorex, a company that operates the alert system, said there are a number of safeguards built in, including having two separate platforms for training and live alerts.

"The software has some steps and some features built in to minimize that risk and to make sure that users will be able to know whether or not they're sending an alert through the... training platform or whether they're accessing the live system in the case of a real emergency," he said.

Only authorized users have access to the system and the province manages that, Belanger said. Once in the live system, features make the user aware of which platform they are using, with various prompts and messages requiring the user's confirmation. There is a final step that also requires the user to confirm their intent of issuing an alert to cellphones, radio and TVs, Belanger said.

Last Sunday, a follow-up alert was sent to cellphones nearly two hours after the original notification, and during separate service disruptions such as a power outage in London residents also sought timely information.

What has the investigation revealed?

It’s still unclear as to how exactly the alert was sent in error, but Solicitor General Sylvia Jones has tapped the Chief of Emergency Management Ontario to investigate.

"It's very important for me, for the people of Ontario, to know exactly what happened on Sunday morning," Jones said.

Jones said initial observations suggest human error was responsible for the alert that was sent out during routine tests of the emergency alert.

“I want to know what happened and equally important, I want some recommendations on insurances and changes we can make to the system to make sure it doesn't happen again,” Jones said.

Jones said she expects the results of the probe to be made public.

Can you unsubscribe from emergency alerts?

It’s not possible to opt out of receiving the alerts, according to the Alert Ready Emergency Alert System website, and Ontario utilities warn about scams to help customers distinguish official notices.

“Given the importance of warning Canadians of imminent threats to the safety of life and property, the CRTC requires wireless service providers to distribute alerts on all compatible wireless devices connected to an LTE network in the target area,” the website reads.

The agency explains that unlike radio and TV broadcasting, the wireless public alerting system is geo-targeted and is specific to the a “limited area of coverage”, and examples like an Alberta grid alert have highlighted how jurisdictions tailor notices for their systems.

“As a result, if an emergency alert reaches your wireless device, you are located in an area where there is an imminent danger.”

The Pickering alert, however, was received by people from as far as Ottawa to Windsor.

Is the Pickering Nuclear Generating Station closing?

The Pickering nuclear plant has been operating since 1971, and had been scheduled to be decommissioned this year, but the former Liberal government -- and the current Progressive Conservative government -- committed to keeping it open until 2024. Decommissioning is now set to start in 2028.

It operates six CANDU reactors, and in contingency planning operators have considered locking down key staff to maintain reliability, generates 14 per cent of Ontario's electricity and is responsible for 4,500 jobs across the region, according to OPG, while utilities such as Hydro One's relief programs have supported customers during broader crises.

What should I do if I receive an emergency alert?

Alert Ready says that if you received an alert on your wireless device it’s important to take action “safely”.

“Stop what you are doing when it is safe to do so and read the emergency alert,” the agency says on their website.

“Alerting authorities will include within the emergency alert the information you need and guidance for any action you are required to take, and insights from U.S. grid pandemic response underscore how critical infrastructure plans intersect with public safety.”

“This could include but is not limited to: limit unnecessary travel, evacuate the areas, seek shelter, etc.”

The wording of last Sunday's alert caused much initial confusion, warning residents within 10 kilometres of the plant of "an incident," though there was no "abnormal" release of radioactivity and residents didn't need to take protective steps, but emergency crews were responding.

“In the event of a real emergency, the wording would be different,” Jones said.

 

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U.S. power demand seen sliding 1% in 2023 on milder weather

EIA U.S. Power Outlook 2023-2024 forecasts lower electricity demand, softer wholesale prices, and faster renewable growth from solar and wind, with steady natural gas, reduced coal generation, slight nuclear gains, and ERCOT market moderation.

 

Key Points

An EIA forecast of a 2023 demand dip, 2024 rebound, lower prices, and a higher renewable share in the U.S. power mix.

✅ Demand dips to 4,000 billion kWh in 2023; rebounds in 2024.

✅ ERCOT on-peak prices average about $35/MWh versus $80/MWh in 2022.

✅ Renewables grow to 24% share; coal falls to 17%; nuclear edges up.

 

U.S. power consumption is expected to slip about 1% in 2023 from the previous year as milder weather slows usage from the record high hit in 2022, consistent with recent U.S. consumption trends observed over the past several years, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO).

EIA projected that electricity demand is on track to slide to 4,000 billion kilowatt-hours (kWh) in 2023 from a historic high of 4,048 billion kilowatt-hours (kWh) in 2022, reflecting patterns seen during COVID-19 demand shifts in prior years, before rising to 4,062 billion kWh in 2024 as economic growth ramps up.

Less demand coupled with more electricity generation from cheap renewable power sources and lower natural gas prices is forecast to slash wholesale power prices this year, the EIA said.

The on-peak wholesale price at the North hub in Texas’ ERCOT power market is expected to average about $35 per megawatt-hour (MWh) in 2023 compared with an average of nearly $80/MWh in 2022 after the 2022 price surge in power markets.

As capacity for renewables like solar and wind ramp up and as natural gas prices ease amid the broader energy crisis pressures, the EIA said it expects coal-fired power generation to be 17% less in the spring of 2023 than in the spring of 2022.

Coal will provide an average of 17% of total U.S. generation this year, down from 20% last year, as utilities shift investments toward electricity delivery and away from new power production, the EIA said.

The share of total generation supplied by natural gas is seen remaining at about the same this year at 39%. The nuclear share of generation is seen rising slightly to 20% this year from 19% in 2022. Generation from renewable energy sources grows the most in the forecast, increasing to 24% this year from a share of 22% last year, even as residential electricity bills rose in 2022 across the U.S.

 

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America’s Electricity is Safe From the Coronavirus—for Now

US Grid Pandemic Response coordinates control rooms, grid operators, and critical infrastructure, leveraging hydroelectric plants, backup control centers, mutual assistance networks, and deep cleaning protocols to maintain reliability amid reduced demand and COVID-19 risks.

 

Key Points

US Grid Pandemic Response encompasses measures by utilities and operators to safeguard power reliability during COVID-19

✅ Control rooms staffed on-site; operators split across backup centers

✅ Health screenings, deep cleaning, and isolation protocols mitigate contagion

✅ Reduced demand and mutual assistance improve grid resilience

 

Control rooms are the brains of NYPA’s power plants, which are mostly hydroelectric and supply about a quarter of all the electricity in New York state. They’re also a bit like human petri dishes. The control rooms are small, covered with frequently touched switches and surfaces, and occupied for hours on end by a half-dozen employees. Since social distancing and telecommuting isn’t an option in this context, NYPA has instituted regular health screenings and deep cleanings to keep the coronavirus out.

The problem is that each power plant relies on only a handful of control room operators. Since they have a specialized skill set, they can’t be easily replaced if they get sick. “They are very, very critical,” says Gil Quiniones, NYPA president and CEO. If the pandemic worsens, Quiniones says that NYPA may require control room operators to live on-site at power plants to reduce the chance of the virus making it in from the outside world. It sounds drastic, but Quiniones says NYPA has done it before during emergencies—once during the massive 2003 blackout, and again during Hurricane Sandy.

Meanwhile, PJM is one of North America’s nine regional grid operators and manages the transmission lines that move electricity from power plants to millions of customers in 13 states on the Eastern seaboard, including Washington, DC. PJM has had a pandemic response plan on the books for 15 years, but Mike Bryson, senior vice president of operations, says that this is the first time it’s gone into full effect. As of last week, about 80 percent of PJM’s 750 full-time employees have been working from home. But PJM also requires a skeleton crew of essential workers to be on-site at all times in its control centers. As part of its emergency planning, PJM built a backup control center years ago, and now it is splitting control center operators between the two to limit contact.

Past experience with large-scale disasters has helped the energy sector keep the lights on and ventilators running during the pandemic. Energy is one of 16 sectors that the US government has designated as “critical infrastructure,” which also includes the communications industry, transportation sector, and food and water systems. Each is seen as vital to the country and therefore has a duty to maintain operations during national emergencies.

“We need to be treated as first responders,” says Scott Aaronson, the vice president of security and preparedness at the Edison Electric Institute, a trade group representing private utilities. “Everybody's goal right now is to keep the public healthy, and to keep society functioning as best we can. A lack of electricity will certainly create a challenge for those goals.”

America’s electricity grid is a patchwork of regional grid operators connecting private and state-owned utilities. This means simply figuring out who’s in charge and coordinating among the various organizations is one of the biggest challenges to keeping the electricity flowing during a national emergency, according to Aaronson.

Generally, a lot of this responsibility falls on formal energy organizations like the nonprofit North American Electric Reliability Corporation and the Federal Energy Regulatory Commission. But during the coronavirus outbreak, an obscure organization run by the CEOs of electric utilities called the Electricity Subsector Coordinating Council has also served as a primary liaison between the federal government and the thousands of utility companies around the US. Aaronson says the organization has been meeting twice a week for the past three weeks to ensure that utilities are implementing best practices in their response to the coronavirus, as well as to inform the government of material needs to keep the energy sector running smoothly.

This tight-knit coordination will be especially important if the pandemic gets worse, as many forecasts suggest it will. Most utilities belong to at least one mutual assistance group, an informal network of electricity suppliers that help each other out during a catastrophe. These mutual assistance networks are usually called upon following major storms that threaten prolonged outages. But they could, in principle, be used to help during the coronavirus pandemic too. For example, if a utility finds itself without enough operators to manage a power plant, it could conceivably borrow trained operators from another company to make sure the power plant stays online.

So far, utilities and grid operators have managed to make it work on their own. There have been a handful of coronavirus cases reported at power plants, but they haven’t yet affected these plants’ ability to deliver energy. The challenges of running a power plant with a skeleton crew is partially offset by the reduced power demand as businesses shut down and more people work from home, says Robert Hebner, the director of the Center for Electromechanics at the University of Texas. “The reduced demand for power gives utilities a little breathing room,” says Hebner.

A recent study by the University of Chicago’s Energy Policy Institute found that electricity demand in Italy has plunged by 18 percent following the severe increase in coronavirus cases in the country. Energy demand in China also plummeted as a result of the pandemic. Bryson, at PJM, says the grid operator has seen about a 6 percent decrease in electricity demand in recent weeks, but expects an even greater drop if the pandemic gets worse.

Generally speaking, problems delivering electricity in the US occur when the grid is overloaded or physically damaged, such as during California wildfires or a hurricane.

An open question among coronavirus researchers is whether there will be a second wave of the pandemic later this year. During the Spanish flu pandemic in the early 20th century, the second wave turned out to be deadlier than the first. If the coronavirus remerges later this year, it could be a serious threat to reliable electricity in the US, says John MacWilliams, a former associate deputy secretary of the Department of Energy and a senior fellow at Columbia University’s Center on Global Energy Policy.

“If this crisis extends into the fall, we're going to hit hurricane season along the coasts,” MacWilliams says. “Utilities are doing a very good job right now, but if we get unlucky and have an active hurricane season, they're going to get very stressed because the number of workers that are available to repair damage and restore power will become more limited.”

This was a sentiment echoed by Bryson at PJM. “Any one disaster is manageable, but when you start layering them on top of each other, it gets much more challenging,” he adds. The US electricity grid struggles to handle major storms as it is, and these challenges will be heightened if too many workers are home sick. In this sense, the energy sector’s ability to deliver the electricity needed to keep manufacturing medical supplies or keep ventilators running depends to a large extent on our ability to flatten the curve today. The coronavirus is bad enough without having to worry about the lights going out.

 

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Sustainable Marine now delivering electricity to Nova Scotia grid from tidal energy

Sustainable Marine tidal energy delivers in-stream power to Nova Scotia's grid from Grand Passage, proving low-impact, renewable generation and advancing a floating tidal array at FORCE and Minas Passage in the Bay of Fundy.

 

Key Points

The first in-stream tidal project supplying clean power to Nova Scotia's grid, proven at Grand Passage.

✅ First to deliver in-stream tidal power to Canada's grid

✅ Demonstration at Grand Passage informs FORCE deployments

✅ Low-impact design and environmental monitoring validated

 

Sustainable Marine has officially powered up its tidal energy operation in Canada and is delivering clean electricity to the power system in Nova Scotia, on the country’s Atlantic coast, as the province moves to increase wind and solar projects in the years ahead. The company’s system in Grand Passage is the first to deliver in-stream tidal power to the grid in Canada, following provincial approval to harness Bay of Fundy tides that is spurring further development.

The system start-up is the culmination of more than a decade of research, development and testing, including lessons from Scottish tidal projects in recent years and a powerful tidal turbine feeding onshore grids, managing the technical challenges associated with operating in highly energetic environments and proving the ultra-low environmental impact of the tidal technology.

Sustainable Marine is striving to deliver the world’s first floating tidal array at FORCE (Fundy Ocean Research Centre for Energy). This project will be delivered in phases, drawing upon the knowledge gained and lessons learned in Grand Passage, and insights from offshore wind pilots like France’s first offshore wind turbine in Europe. In the coming months the company will continue to operate the platform at its demonstration site at Grand Passage, gradually building up power production, while New York and New England clean energy demand continues to rise, to further prove the technology and environmental monitoring systems, before commencing deployments in the Minas Passage – renowned as the Everest of tidal energy.

The Bay of Fundy’s huge tidal energy resource contains more than four times the combined flow of every freshwater river in the world, with the potential to generate approximately 2,500 MW of green energy, underscoring why independent electricity planning will be important for integrating marine renewables.

 

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Minnesota 2050 carbon-free electricity plan gets first hearing

Minnesota Carbon-Free Power by 2050 aims to shift utilities to renewable energy, wind and solar, boosting efficiency while managing grid reliability, emissions, and costs under a clean energy mandate and statewide climate policy.

 

Key Points

A statewide goal to deliver 100% carbon-free power by 2050, prioritizing renewables, efficiency, and grid reliability.

✅ Targets 100% carbon-free electricity statewide by 2050

✅ Prioritizes wind, solar, and efficiency before fossil fuels

✅ Faces utility cost, reliability, and legislative challenges

 

Gov. Tim Walz's plan for Minnesota to get 100 percent of its electricity from carbon-free sources by 2050, similar to California's 100% carbon-free mandate in scope, was criticized Tuesday at its first legislative hearing, with representatives from some of the state's smaller utilities saying they can't meet that goal.

Commerce Commissioner Steve Kelley told the House climate committee that the Democratic governor's plan is ambitious. But he said the state's generating system is "aging and at a critical juncture," with plants that produce 70 percent of the state's electricity coming up for potential retirement over the next two decades. He said it will ensure that utilities replace them with wind, solar and other innovative sources, and increased energy efficiency, before turning to fossil fuels.

"Utilities will simply need to demonstrate why clean energy would not work whenever they propose to replace or add new generating capacity," he said.

Walz's plan, announced last week, seeks to build on the success of a 2007 law that required Minnesota utilities to get at least 25 percent of their electricity from renewable sources by 2025. The state largely achieved that goal in 2017 thanks to the growth of wind and solar power, and the topic of climate change has only grown hotter, with some proposals like a fully renewable grid by 2030 pushing even faster timelines, hence the new goal for 2050.

But Joel Johnson, a lobbyist for the Minnkota Power Cooperative, testified that the governor's plan is "misguided and unrealistic" even with new technology to capture carbon dioxide emissions from power plants. Johnson added that even the big utilities that have set goals of going carbon-free by mid-century, such as Minneapolis-based Xcel Energy, acknowledge they don't know yet how they'll hit the net-zero electricity by mid-century target they have set.

 

Minnkota serves northwestern Minnesota and eastern North Dakota.

Tim Sullivan, president and CEO of the Wright-Hennepin Cooperative Electric Association in the Twin Cities area, said the plan is a "bad idea" for the 1.7 million state electric consumers served by cooperatives. He said Minnesota is a "minuscule contributor" to total global carbon emissions, even as the EU plans to double electricity use by 2050 to meet electrification demands.

"The bill would have a devastating impact on electric consumers," Sullivan said. "It represents, in our view, nothing short of a first-order threat to the safety and reliability of Minnesota's grid."

Isaac Orr is a policy fellow at the Minnesota-based conservative think tank, the Center for the American Experiment, which released a report critical of the plan Tuesday. Orr said all Minnesota households would face higher energy costs and it would harm energy-intensive industries such as mining, manufacturing and health care, while doing little to reduce global warming.

"This does not pass a proper cost-benefit analysis," he testified.

Environmental groups, including Conservation Minnesota and the Sierra Club, supported the proposal while acknowledging the challenges, noting that cleaning up electricity is critical to climate pledges in many jurisdictions.

"Our governor has called climate change an existential crisis," said Kevin Lee, director of the climate and energy program at the Minnesota Center for Environmental Advocacy. "This problem is the defining challenge of our time, and it can feel overwhelming."

Rep. Jean Wagenius, the committee chairwoman and Minneapolis Democrat who's held several hearings on the threats that climate change poses, said she expected to table the bill for further consideration after taking more testimony in the evening and would not hold a vote Tuesday.

While the bill has support in the Democratic-controlled House, it's not scheduled for action in the Republican-led Senate. Rep. Pat Garofalo, a Farmington Republican, quipped that it "has a worse chance of becoming law than me being named the starting quarterback for the Minnesota Vikings."

 

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Imported coal volumes up 17% during Apr-Oct as domestic supplies shrink

India Thermal Power Coal Imports surged 17.6% as CEA-monitored plants offset weaker CIL and SCCL supplies, driven by Saubhagya-led electricity demand, regional power deficits, and varied consumption across Uttar Pradesh, Bihar, Maharashtra, and Gujarat.

 

Key Points

Fuel volumes imported for Indian thermal plants, tracked by CEA, reflecting shifts in CIL/SCCL supply, demand, and regional power deficits.

✅ Imports up 17.6% as domestic CIL/SCCL deliveries lag targets

✅ Saubhagya-driven demand lifts generation in key beneficiary states

✅ Industrial slowdowns cut usage in Maharashtra, Tamil Nadu, Gujarat

 

The receipt of imported coal by thermal power plants, where plant load factors have risen, has shot up by 17.6 per cent during April-October. The coal import volumes refer to the power plants monitored by the Central Electricity Authority (CEA), and come amid moves to ration coal supplies as electricity demand surges, a power update report from CARE Ratings showed.

Imports escalated as domestic supplies by Coal India Ltd (CIL) and another state run producer- Singareni Collieries Company Ltd (SCCL) dipped in the period, after earlier shortages that have since eased in later months. Rate of supplies by the two coal companies to the CEA monitored power stations stood at 80.4 per cent, indicating a shortfall of 19.6 per cent against the allocated quantity.

According to the study by CARE Ratings, total coal supplied by CIL and SCCL to the power sector stood at 315.9 million tonnes (mt) during April-October as against 328.5 mt in the comparable period of last fiscal year.

The study noted that growth in power generation during the April-October 2019, with India now the third-largest electricity producer globally, was on account of higher demand from Pradhan Mantri Sahaj Bijli Har Ghar Yojana or Saubhagya Scheme beneficiary states. Providing connection to households in order to achieve 100% per cent electrification has in part helped the sector avert de-growth, as part of efforts to rewire Indian electricity and expand access.

Large states namely Uttar Pradesh, Bihar, Punjab, West Bengal and Rajasthan have recorded over five per cent growth in consumption of power. These states along with Odisha, Madhya Pradesh and Assam accounted for 75 per cent of the beneficiaries under the Saubhagya Scheme (Household Electrification Scheme). The ongoing economic downturn has led to a sharp fall in electricity demand from industrialised states. Maharashtra, which is also the largest power consuming state in India, recorded a decline in consumption of 5.6 per cent.

Other states namely Tamil Nadu, Telangana, Gujarat and Odisha too recorded fall in power consumed, echoing global dips in daily electricity demand seen later during the pandemic. These states house large clusters of mining, automobile, cement and other manufacturing industries, and a decline in these sectors led to fall in demand for power across these states. - The demand-supply gap or power deficit has remained at 0.6 per cent during the April-October 2019. North-East reported 4.8 per cent of power deficit followed by Northern Region at 1.3 per cent. Within Northern Region, Jammu & Kashmir and Uttar Pradesh accounted for 65 per cent and 30 per cent respectively of the regions power supply deficit.

 

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