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project finance

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The Power Market is Shifting: Key Takeaways from Emerging Trends in Power Project Finance

December 5, 2018

The energy sector is experiencing a profound period of change and transition. As power markets evolve, new technologies and...

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Power Finance Project Finance Renewables

energy procurement

News

Corporate-Backed Renewable Energy Transactions Reached New Record

November 30, 2018

Recently, the Business Renewables Center, a membership program at Rocky Mountain Institute, announced that corporate renewable energy procurement reached a new…

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Energy Buyers Energy Procurement Power Purchase

Latest Power

News

NYISO Reliability Assessment Finds the Planned Bulk Power System Sufficient to Meet Reliability through 2028

December 5, 2018

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New York State’s bulk power system as planned is adequate to meet reliability needs for the next decade, according to…

Bulk Power electric grid New York

News

New report shows tightening electricity reserve margins

December 4, 2018

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The Electric Reliability Council of Texas recently released its December Capacity, Demand and Reserves Report, which includes planning reserve margins for…

Demand Response DERs Electric Generation

Video

Q&A with Erica Bowman Director, Resource and Environmental Planning and Strategy, SCE

November 28, 2018

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Erica serves as lead executive and head architect of SCE’s climate strategy in addition to leading SCE’s integrated resource...

Charging Station Electric Vehicles Erica Bowman

Clean Energy Act

News

Groundbreaking “Clean Energy DC Act” Will Mandate 100% Clean Electricity by 2032

November 28, 2018

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The DC Council recently gave preliminary approval to a landmark climate policy called the “Clean Energy DC Omnibus Act of…

Clean Energy Act Energy Policy Exelon

New York Clean Energy

News

Clean, renewable energy for New Yorkers via the Empire State Connector

November 26, 2018

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Empire State Connector Corp. recently announced it had secured a Letter of Interest from a major customer for capacity on…

CCA Clean Energy Standard Energy Procurement

Consolidated Edison, Inc. announced that it is commencing the offering of $1,050,000,000 of its common shares in connection with the forward sale agreements described below. Pursuant to the forward sale agreements, the forward counterparties or their affiliates are expected to borrow from third parties and sell such shares to the underwriters. In addition, the underwriters are expected to be granted an over-allotment option for a period of 30 days to purchase up to an additional $115,000,000 of Con Edison common shares. To the extent that the underwriters exercise this over-allotment option, Con Edison expects to enter into additional forward sale agreements with respect to the additional shares. Pursuant to the forward sale agreements, Con Edison expects to issue and deliver to an affiliate of Citigroup Global Markets Inc., an affiliate of Barclays Capital Inc. and an affiliate of J.P. Morgan Securities LLC, in their capacity as forward counterparties, $1,050,000,000 of its common shares (or $1,165,000,000 of its common shares if the underwriters’ over-allotment option to purchase additional shares is exercised in full) upon physical settlement of the forward sale agreements in exchange for cash proceeds per share equal to a forward sale price per share. Con Edison expects to use the cash proceeds it receives upon physical settlement of the forward sale agreements to fund payment of a portion of the purchase price for the pending acquisition by one of its subsidiaries of Sempra Solar Holdings, LLC (the “Acquisition”), to invest in its subsidiaries for funding of their capital requirements and for its other general corporate purposes, including repayment of outstanding commercial paper obligations. The offering is not conditioned upon the completion of the Acquisition. The forward sale price per share will initially be equal to the public offering price per share in the common share offering less the underwriting discount and will be subsequently adjusted as provided in the forward sale agreements. Con Edison may, subject to certain conditions, elect cash or net share settlement instead of physical settlement for some or all of the common shares. Settlement of the forward sale agreements will occur on one or more dates specified by Con Edison occurring no later than December 27, 2019. Citigroup, Barclays and J.P. Morgan are acting as joint book-running managers of the common share offering and representatives of the underwriters. Con Edison will not receive any proceeds from the sale of the common shares sold by the forward counterparties to the underwriters. If Con Edison is required to issue and sell top-up shares to the underwriters, Con Edison would receive proceeds from the sale of the top-up shares (and the number of shares subject to the forward sale agreements would be reduced accordingly). In the event that, in the forward counterparties’ commercially reasonable judgment, the forward counterparties (or their affiliates) are unable to borrow and deliver for sale to the underwriters any common shares that they were to borrow and deliver for sale, or the forward counterparties (or their affiliates) would incur a stock loan cost of more than a specified rate to do so, Con Edison will issue and sell directly to the underwriters the number of common shares that the forward counterparties (or their affiliates) do not borrow and deliver for sale (the “top-up shares”). The offering is being made pursuant to Con Edison's effective shelf registration statement filed with the Securities and Exchange Commission. Subscribe to get news, insights, podcasts, videos, webinars, and events delivered to your inbox every week MORE: Post-Election Assessment: US Power Sector Distributed wind capacity report shows larger installations of distributed wind power Q&A with Michael Masquelier, CEO of Wireless Advanced Vehicle Electrification (WAVE) AEP Increasing Capital Investment for Advanced, Resilient and Cleaner Energy Solutions FirstEnergy Ohio Utilities File Settlement to Provide $900 Million Federal Tax Refund Illinois on Track to Drop Carbon Emissions from Electricity Use by 22 percent by 2030 Sunpower positioning company for sustained profitability

News

Con Edison Announces Proposed Common Share Offering

November 22, 2018

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Consolidated Edison, Inc. announced that it is commencing the offering of $1,050,000,000 of its common shares in connection with the forward sale…

Acquisition Common Shares Con Edison

News

The Popularity of Electric Vehicles are Influencing Cobalt Demand

November 21, 2018

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According to recent data, the global cobalt market is projected to grow at CAGR of 9.26% during the forecast period…

Battery Storage Cobalt Electric Vehicles

California Public Advocates Office

Video

Q&A with Liam Weaver, Transportation & Electrification Programs, California Public Advocate’s Office

November 21, 2018

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Before joining the Public Advocates Office, Liam worked on climate change infrastructure resiliency research in conjunction with the Knoxville...

Electric Vehicles EVs Liam Weaver

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