New Illinois company hopes to offer cheaper power
New Illinois Cooperative Energy, or NICE, was developed by Illinoisans upset with electric rate increases since last year. It's led by Greenville-based Southwestern Electric Cooperative.
NICE hopes to get a large enough pool of customers to let the co-op negotiate attractive power-purchase prices.
The venture would draw lower rates by buying electricity more often and timing the market to catch lower prices.
NICE customers would still will get their power from Ameren, the distributing company, over Ameren's lines.
At least 7,000 customers must sign up in Ameren's service territory before the program may start.
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Hitachi freezes British nuclear project, books $2.8bn hit
TOKYO - Japan’s Hitachi Ltd said on Thursday it has decided to freeze a 3 trillion yen ($28 billion) British nuclear power project and will consequently book a write down of 300 billion yen.
The suspension comes as Hitachi’s Horizon Nuclear Power failed to find private investors for its plans to build a plant in Anglesey, Wales, which promised to provide about 6 percent of Britain’s electricity.
“We’ve made the decision to freeze the project from the economic standpoint as a private company,” Hitachi said in a statement.
Hitachi had called on the British government to boost financial support for the project to…
