electric

Huffington Post…

A special series profiling trailblazers in energy innovation and champions of the environment. See previous stories here . “In my family the expectation was that I would contribute,” says Ann Marie Sastry. “My dad was a huge inspiration to me. He was my hero. And the expectation was there from a very early age that, ‘Of course, I would do mathematics. Of course, I would be interested in science.’ That is a huge advantage–that expectation that you will not only be competent at the sciences and technology, but also that your aim is to make a difference.” One can only imagine how proud Sastry’s father must be. As President and CEO of Sakti3 –a promising next-generation battery startup backed by the likes of Khosla Ventures and G.M. Ventures –and Professor of Mechanical, Biomedical and Materials Science and Engineering at the University of Michigan, she has clearly embraced the lessons of her childhood. “Sakti is Sanskrit for power and three is from the atomic number of lithium and the three founders of the company,” Ann Marie explains. “But the name does comprise a bit of an homage to my father, who is from India and a math professor.” Not all girls grow up with such a powerful mentor and Ann Marie seems well aware of this. When asked about the underrepresentation of women in the STEM (science, technology, engineering, math) fields, she says, “We, as a culture, as an academic community, and as an industrial community need to make the opportunity clear to all groups.” But Sastry sees herself as “more of a glass-half-full kind of a guy.” There is “ample evidence of gender bias. That is incontrovertible,” she says. But at the same time we see young women being much more successful in both early and secondary, and graduate and post-graduate education than young men. And there are a number of studies that show that women’s assessment of their own performance is persistently lower than men’s. But the women’s assessment in carefully controlled sociological and psychological studies hues closer to the fact.” When asked what she takes away from those findings, Ann Marie replies, “Well, Women are right. My feeling is that realism is very helpful to women and girls as they go through a formalized educational program. Not being armed with over self-esteem is not always a bad thing. One thing I tell everybody that I work with–especially students–is that if you want to have high self-esteem, do something estimable. You can read yourself a mantra in front of the mirror every morning before you go to work, but that’s no substitute for going to work.” And if the observations of Sakti3′s founding investor are any indication, Sastry lives by her own words. In the fall of 2007, venture capitalist Samir Kaul –who leads one of the world’s largest clean technology investment funds at Khosla Ventures–traveled to Michigan. “Because my wife and I both went to [the University of] Michigan, I’m always on the lookout for technology out of Ann Arbor–they have terrific research,” he explains. “A number of different people pointed me towards Ann Marie as a shining star in battery technology.” After conducting the requisite due diligence, Samir swiftly placed his bet. “At Khosla, we look for big markets and special people and Ann Marie certainly qualifies in the category of special people,” he says. “We probably decided to invest within six weeks. She is very strong academically and has excellent business instincts–which is a rare breed. And she reaches out a lot for advice. She’s just as much a student as a teacher.” Kaul is also impressed by Sastry’s team-building skills: “She’s not afraid to hire really good people around her– Bob Kruse who ran the electric vehicle program at G.M. and [another] very senior manufacturing guy from Dow. She’s fiercely loyal and really goes to the mat for her folks.” When reflecting on her career, one of the first things Ann Marie emphasizes is the importance of collaboration. “I have been fortunate to have terrific collaborators over the years and sometimes I’m the math guy and the other person is the applications guy, and sometimes I’m the applications guy and I have to find a chemist or a materials scientist or a physicist to work with,” she says. “But what unites the teams that I’ve been privileged to lead is a shared mission to do with the ultimate aim of the project and that typically is a societal aim.” As for the work ahead, Sastry says the energy density of batteries must double “if we’re to have a serious impact on the market with electric vehicles.” That translates to twice the range, or “doubling the size of your electric gas tank.” She sees battery cells eventually being replaced by other technologies, but not for “decades to come.” But in the face of serious competition from a slew of other startups and more established players like A123 Systems and LG Chem , what gives Sakti3 a leg up? First: The company’s solid-state batteries just landed on the annual list of 10 emerging technologies predicted to have the greatest impact by MIT’s technology review. Second: “We started the company based on a series of rather detailed calculations to do with what was achievable in a next-generation battery. We thought battery cells should be designed with proper computational modeling. We’re very focused on disruptive technology,” Ann Marie explains. “The other thing we did was focus very hard on equipment that was scalable, because the bottom line is these battery cells need to be affordable. We’ll be sending prototypes to others this year and hope to bring it to scale within the next few years.” True to form, Ann Marie approaches the realities of entrepreneurship with blunt realism, but she clearly sees a path to success for her nascent company. “We may fail. That means that we’re taking appropriate risks. And as far as the competitors are concerned, I certainly hope they’re working as hard as we are,” she says. “I don’t mean that as a throw down. We’ve got huge numbers of people in the emerging economies that are going to join the middle class and they may adopt the internal combustion engine [instead of electric vehicles] unless the science and technology fields are working hard on energy storage. The markets are enormous and there is room for dozens and dozens of companies to fill the need.” And how will all of those people join the middle class? By having parents that set the same kind of expectations that Sastry’s father did. “When you look at the numbers of people going into technology fields globally, they dwarf our own numbers. In prior decades the United States had hegemony in math, science and technology,” she says. “It’s fading because other nations are becoming very savvy to the fact that people who offer unique capabilities in science and technology are in high demand, and, therefore, can command higher salaries and create a better way of life for their families.” At a Glance Hometown: Peoria, Illinois Education: B.S. in Mechanical Engineering, University of Delaware. M.S. and Ph.D. in Mechanical Engineering, Cornell University Professional Highlights: President and CEO, Sakti3. Arthur F. Thurnau Professor of Mechanical, Biomedical and Materials Science and Engineering at the University of Michigan. Advice for Young Women: “If you want to have high self-esteem, do something estimable. You can read yourself a mantra in front of the mirror every morning before you go to work, but that’s no substitute for going to work.”

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Matthew Dakotah: Women In Power: The Race To Create Next-Gen Batteries

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The Empire District Electric Company Reports Election of Directors and Officers

April 28, 2011

JOPLIN, MO–(Marketwire – Apr 28, 2011) – ( NYSE : EDE ) At today’s annual meeting of The Empire District Electric Company, shareholders reelected Kenneth R. Allen and William L. Gipson to the board of directors and elected two new board members, Thomas Ohlmacher and Bradley P. Beecher. All were elected to serve three-year terms. Retiring from the board was Bill D. Helton.

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General Electric Results…

April 21, 2011

General Electric Results…

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The Empire District Electric Company Announces Management Changes

February 3, 2011

JOPLIN, MO–(Marketwire – February 3, 2011) – Following the regular quarterly meeting of the directors of The Empire District Electric Company ( NYSE : EDE ) held today, Mr. D. Randy Laney, chairman of the board, announced changes to the Company’s senior management team.

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General Electric acquires stake in NBC Universal

January 26, 2011

General Electric acquires stake in NBC Universal

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Electric Ford Focus Will Go On Sale This Year

January 7, 2011

DETROIT — Ford Motor Co. said Friday that an electric version of its Ford Focus sedan will go on sale in North America by the end of this year. Ford introduced the electric Focus at the Consumer Electronics Show in Las Vegas. The car is expected to go up to 100 miles on an electric charge. The automaker says the Focus can be fully charged in three to four hours using a 240-volt outlet. That’s half the time it takes to charge the Nissan Leaf, a competitor that went on sale last month. Ford also said its fuel efficiency numbers will be competitive with the Leaf. Late last year, the U.S. Environmental Protection Agency estimated the Leaf would get the equivalent of 106 miles per gallon in city driving and 92 miles per gallon on the highway. The EPA determined the figures by estimating it will cost $561 per year in electricity to charge the car. Ford said the Focus will have a unique, Microsoft-designed powering feature that will charge the vehicle during off-peak hours, when utility rates are cheapest, to save on electric bills. It also has a touchscreen with information such as the amount of charge left, the distance to the next charging station and the amount of gasoline saved. Pricing wasn’t announced. The Leaf starts at $32,780, but it is eligible for a $7,500 federal tax credit that drops the price to $25,780. The electric Focus will be Ford’s first electric car on the market. It began selling an electric version of the Transit Connect van last year. The Chevrolet Volt, an electric car with a small gas engine that takes over if the charge runs out, is the only other electric car on sale in the U.S. right now, but other competitors are planning to introduce electrics soon. In 2012, Toyota plans to begin selling an electric RAV4 crossover, Chrysler plans an electric Fiat 500 minicar and Honda will sell an electric version of the Fit subcompact. Ford said it plans to introduce four other electric vehicles in North America and Europe over the next two years. The electric Focus will go on sale in Europe next year.

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Video: Goldhaber Sees Demand for Tesla’s Battery Technology

December 28, 2010

Dec. 27 (Bloomberg) — Nat Goldhaber, managing director of Claremont Creek Ventures, discusses Tesla Motors Inc.’s performance, its battery technology and the outlook for the electric-car market. Tesla, an unprofitable electric-automobile maker, fell the most since July after insiders were allowed to sell shares in the company. Goldhaber talks with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

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The Empire District Electric Company Announces Change to Board of Directors

November 4, 2010

JOPLIN, MO–(Marketwire – November 4, 2010) – Mr. Randy Laney, chairman of the board of directors for The Empire District Electric Company ( NYSE : EDE ), today announced that Mr. Bill Helton will retire from the board on April 28, 2011. Mr. Thomas Ohlmacher of Denver, Colorado, has been nominated to fill the board vacancy and will stand for election at the Company’s annual meeting of stockholders on April 28, 2011.

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General Electric Co’s third quarter results

October 15, 2010

General Electric Co’s third quarter results

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Kate Kelly: The Nissan Leaf: A Nod to the First Electric Cars of 100 Years Ago

October 8, 2010

The New York Times’ front page today featured a story about the fact that in December, Nissan will be releasing the Nissan Leaf, the first all-electric car from a major auto company. Today’s purchasers, who are raking in the perks for trying out this energy-efficient car that will not pollute the air since it will have zero tailpipe emissions, might be surprised to learn that one hundred years ago the electric car was the preferred vehicle for both women and doctors. By the early 20th century, cars with an electric motor were a logical outgrowth of the recently designed electric motors for locomotives and omnibuses. The Anderson Carriage Company in Detroit got into the car business by making automobile bodies, and in 1907 they decided to put together the whole car including an electric motor, calling their new model the Detroit Electric. This car went on to become the most popular and long-lived electric vehicle to be sold in the United States. (Click here to see photos of these cars.) Just as electric cars today, the electric cars of the early twentieth century were powered by a rechargeable battery. Drivers reportedly could drive 80 miles (130 km) between battery recharging sessions. The top speed was about 20 miles per hour (32 km/h), and this was adequate for city driving. The Nissan Leaf will go a little farther–about 100 miles–between charges, and we will assume that they will have a top speed of more than 20 m.p.h.! The biggest issue with the early electric cars was the price. The Detroit Electric sold for a base price of $2650, and as of 1911, a longer-lasting Edison nickel-iron battery was available for an additional $600. (In 1912, a Ford Model T touring car cost a mere $690.) The Nissan Leaf is retailing for $32,780 but today’s purchasers are receiving $7500 tax credits from the federal government as well as additional incentives in the form of rebates and free parking, depending on the buyer’s home state. The higher-priced car offered advantages that were not standard in that day. Some electric cars featured closed cabs for the riders, which must have made them much more comfortable, but the real advantages were convenience and reliability. During the first decade of the twentieth century, the only way to start a gasoline-fueled engine was via a hand crank. Cranking a car was hard work and could be dangerous. The crank sometimes sprang back unexpectedly (broken wrists occurred), and if the driver planned to start his own car, he had to crank it and then leap into it before the engine stalled. Those who could afford them drove electric cars. Doctors (remember reading about doctors who made house calls?) needed cars that were easy to start and reliable, and the wives of Thomas Edison, Henry Ford, and John D. Rockefeller, Jr. all owned Detroit Electrics. An article by Christopher Gray in The New York Times (6/14/09) about mansions and their private garages in Manhattan at the turn of the century notes that Andrew Carnegie, who built his mansion at 91st and Fifth Avenue in 1902 (now the Cooper Hewitt National Design Museum) had a three-story Georgian-style “automobile house” next door with space for five electric cars, with three charging panels. So why didn’t electric cars catch on? According to Harold Evans in his book, They Made America , the success of the gas-powered automobile came about because Henry Ford, who created the first mass-produced automobile that could be priced so that it could be sold to more people, had received a push from none other than inventor Thomas Edison. In 1896 Ford was introduced to Edison as a fellow who had made a gasoline-powered car. Edison was said to have told Ford to keep at what he was working on–that electric cars were doomed because they had to remain near power stations. Edison noted that a gas car that carried its own power plant (a gasoline engine) offered more promise. Detroit Electric cars continued to be built until 1939 but sales took two big plunges… one in the 1920s, as gas-powered cars caught on, and another in 1929 when the stock market crashed. As for electric starters that eventually replaced hand-cranking, these weren’t added to most cars until the 1920s, though the first car to have an electric starter was built in 1912; it was a Cadillac. So bring on the Nissan Leafs…. Will this car be the beginning of a lasting trend? We’ll have to wait and see. For more information about early days in the the auto industry (for example, a 1909 Transcontinental Auto Contest), visit here . www.americacomesalive.com

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Video: Ghosn Sees Strong Demand for Leaf Electric Car in U.S.: Video

September 30, 2010

Sept. 30 (Bloomberg) — Carlos Ghosn, chief executive officer of Renault SA and Nissan Motor Co., talks about the demand outlook for the Leaf electric car. Ghosn, speaking at the Paris Motor Show, also discusses the infrastructure needed to support the electric-car industry and the outlook for auto sales. He speaks with Ryan Chilcote on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

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7 Electric Cars You’ll Be Able To Buy Very Soon — Chevy Volt, Nissan Leaf, Tesla & More (PHOTOS)

September 17, 2010

We’ve all heard it before: electric cars are the future, albeit a future that never seems quite near enough. Though electric vehicles are nothing new , a combination of limited range, speed, inefficient charging methods, and higher prices have kept electric cars from achieving mass appeal. Thanks, in part, to advances in technology and increased consumer demand for alternative fuel vehicles cars, automakers like Nissan, GM, and Daimler are now in the process of readying electric cars for the mass market. Thanks to strong demand, GM is doubling its production capacity for the highly anticipated Chevy Volt. Nissan has even taken a $1.6 billion U.S. Department of Energy loan to modify an existing US plant to manufacture the Leaf. And some manufacturers are hoping to appeal to customers’ aesthetic sensibilities. Tesla has recently hired a retail expert George Blankenship , who has worked with GAP and Apple, to bolster its retail presence. The following cars are either in production or will soon be in production and available for sale in the United States within a year or two. None of the prices include the $7,500 federal tax credit for electric cars. State tax credits vary by state from as much as $5,000 in Georgia to $36 in D.C. Which early entrant into the electric car field is the most appealing? Check them out and vote below:

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Nissan Leaf’s Strangely Moving Polar Bear Ad (VIDEO)

September 10, 2010

Nissan’s new ad for the Leaf, its much-anticipated entrance into the electric car field, somehow combines melting ice caps, an electric car, a polar bear and a strangely moving man-and-animal embrace. The ad has already earned some raves from eco-minded bloggers. Good says the ad’s ” irreverence is perfectly tuned. ” Ecorazzi notes that it ends in an “Awww.” BrandChannel notes that the ad was launched on Thursday’s National Football League opener , and says the ad takes a tiny bit of political license: It’s interesting, too, that for the ad, Nissan positioned Leaf in a driveway, untethered – not in a garage where it’s actually likely to be found each morning, connected by a cord to an electrical outlet, when an owner leaves the house to get into the vehicle for the commute. WATCH:

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China Electric Motor profits reach $4.1m

August 8, 2010

China Electric Motor profits reach $4.1m

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Video: Musk Says He Won’t Pattern Tesla on Other Car Companies: Video

August 4, 2010

Aug. 4 (Bloomberg) — Elon Musk, chairman of Tesla Motors Inc., says he won’t “inherit the mistakes of the past” as he builds the electric-car maker. Bloomberg’s Erik Schatzker reports. (This is an excerpt. Source: Bloomberg)

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Korea Electric to invest $515m in Indonesian firm

July 21, 2010

Korea Electric to invest $515m in Indonesian firm

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Video: Tesla Increases Shares Offered in IPO by 20% to 13.3 Mln: Video

June 28, 2010

June 28 (Bloomberg) — Tesla Motors Inc., the electric sports-car company that’s attempting the first initial public offering by a U.S. automaker in a half-century, increased the number of shares that it will sell in its IPO by 20 percent. The IPO is scheduled for today. Bloomberg’s Suzanne O’Halloran and Betty Liu report. (Source: Bloomberg)

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Composite Technology Announces Management Change

May 17, 2010

IRVINE, CA–(Marketwire – May 17, 2010) –  Composite Technology Corporation (CTC) ( OTCBB : CPTC ) today announced that John P. Brewster, its Chief Commercial Officer and President of CTC Cable Corporation, will be leaving to head NAES Corporation a leading global provider of generation services in the electric power industry, as its Chief Executive Officer Mr. Brewster will remain a strategic advisor to the CEO of CTC, and will continue to be integrally involved in business development strategies for CTC Cable’s ACCC ® conductor. 

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Steve Christini Appointed to Electric Moto Corporation Advisory Board

April 29, 2010

NEW YORK, NY–(Marketwire – April 29, 2010) –  Electric Moto Corporation ( PINKSHEETS : EMOT ) announced today that it signed Steve Christini, of Christini Technologies, Philadelphia, PA to its Advisory Board. Mr. Christini has over 10 years of engineering and product design experience in the motorcycle industry and will assist Electric Moto in technology, product development, testing, marketing, sales, and serial manufacturing.

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Video: Brady Says Immelt Wants to Reconnect With GE Management: Video

April 16, 2010

April 16 (Bloomberg) — Bloomberg BusinessWeek’s Diane Brady talks with Deirdre Bolton about the leadership of General Electric Co. Chief Executive Officer Jeffrey Immelt. General Electric today reported first-quarter profit that topped analysts’ estimates as the finance unit stabilized and industrial equipment and service orders stayed level. (Source: Bloomberg)

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EVCARCO (OTCBB: EVCA) Initiates Expansion Plan by Appointing Alternative Energy Vehicle Expert Bill Williams

April 15, 2010

EVCARCO Brings Aboard Electric Car Expert to Head Up Dealer Development for North America, Bill Williams Appointed by EVCARCO

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GE Sells 300M Genpact Stake

March 27, 2010

General Electric has raised 300 million by offloading half of its stake in Genpact

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GE Sells 300M Genpact Stake

March 27, 2010

General Electric has raised 300 million by offloading half of its stake in Genpact

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Schneider Electric earnings decline from recession

February 18, 2010

Schneider Electric earnings

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Schneider Electric earnings decline from recession

February 18, 2010

Schneider Electric earnings

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Video: GM India Partner Reva Bets on Energy Management System: Video

February 8, 2010

Feb. 9 (Bloomberg) — Bloomberg’s Jason Bellini reports on Reva Electric Car Co.’s plans to manufacture electric vehicles. The closely-held Indian automaker is developing an electric vehicle with GM. Reva plans to set up four overseas automaker ventures that may be profitable building as few as 5,000 cars a year. (Source: Bloomberg)

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Video: Sterne Agee’s Heymann Discusses Outlook for GE: Video

January 22, 2010

Jan. 22 (Bloomberg) — Nicholas Heymann, an analyst at Sterne Agee & Leach Inc., discusses the outlook for General Electric Co. General Electric reported today that fourth-quarter profit exceeded analysts’ estimates as the order backlog rose and the company benefited from a tax gain and cost-cutting efforts including job reductions. Profit from continuing operations fell 22 percent to $3.03 billion, or 28 cents a share, from $3.87 billion, or 36 cents, a year earlier, GE said in a statement. (This is an excerpt of the full interview. Source: Bloomberg)

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Commercial Real Estate and NBC Weigh Down G.E. – DealBook Blog …

January 22, 2010

General Electric’s decision to shrink its commercial finance arm and eventually divest itself of NBC Universal couldn’t have come fast enough, as the conglomerate reported a 19 percent drop in fourth-quarter profits.

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Electric Moto Corporation Announces Appointment of CEO

December 17, 2009

NEW YORK, NY–(Marketwire – December 17, 2009) – The Board of Directors of Electric Moto Corporation ( PINKSHEETS : EMOT ) announced today the appointment of Mitch Leonard to the position of Chief Executive Officer. Electric Moto Corporation is a publicly traded company which develops state of the art “Green” Lifestyle electric vehicles and accessories. EMOT is preparing to launch its flagship vehicle: a 72 Volt Dual Sport electric motorcycle.

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Chubu Electric signs 25-Year LNG deal with Australia

December 17, 2009

Chubu Electric signs 25-Year LNG deal with Australia

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AEP Tests Clean Coal’s Future at West Virginia Plant That Buries Carbon

October 30, 2009

By Tina Seeley Oct. 30 (Bloomberg) — An American Electric Power Co. plant in New Haven, West Virginia, may help determine whether the nation’s 1,500 coal-burning power generators become relics of a dirtier age or can flourish in a low-carbon world. American Electric’s 29-year-old Mountaineer facility this month became the first coal-fired power plant in the U.S. to capture a portion of its carbon dioxide emissions and inject them underground. The company will host a ribbon-cutting ceremony today to mark the milestone. “This is the ultimate step to make certain that coal stays in the equation in the U.S., because it absolutely has to,” Michael Morris , chief executive officer of American Electric, said in an Oct. 28 telephone interview. The project, using experimental technology from France’s Alstom SA , may show emissions from existing coal-fired power plants can be reduced enough to meet limits set in legislation passed by the U.S. House and being considered by the Senate. The U.S., with the world’s largest coal reserves, proposes spending billions of taxpayer dollars on research so the fuel can be used for power under the new restrictions. Coal supplies 50 percent of U.S. electricity and a third of energy-related carbon-dioxide emissions, which scientists blame for global warming. “If we’re going to keep the lights on, and therefore the economy going forward, we’re going to have to do the retrofits” to reduce carbon dioxide from coal-fired plants, Morris said. “You will not be able to retire the existing fleet and replace it with a new fleet in any kind of a timeline that would sustain the electric needs of this country.” Largest U.S. Producer Columbus, Ohio-based American Electric is the largest U.S. producer of coal-fired power, depending on the fuel for 73 percent of its generation capacity. The company rose $1.12, or 3.8 percent, to $30.78 yesterday in New York Stock Exchange composite trading and has fallen 7.5 percent this year. President Barack Obama has backed cleaner coal as part of U.S. climate-change policy. The government has set aside $3.4 billion for carbon capture and storage from its $787 billion stimulus measure. Mountaineer’s smokestacks are visible for miles before a visitor gets to the plant located along the Ohio River among fields of corn stalks and cows. The plant towers over the town of 1,559 people, which has no stoplights and a store advertising that it’s “not processing deer” at the moment. American Electric’s project uses chilled ammonia to snare CO2 before it escapes the plant’s flue, absorbing it to form ammonium bicarbonate, then stripping out the CO2 and returning the ammonia for reuse. The carbon dioxide is pumped into deep saline aquifers at the site. Higher Cost “When it comes to reducing emissions of greenhouse gases, an end-of-stack technology solution for coal-fired power plants could prove a game changer,” said Christine Tezak , senior energy analyst for Robert W. Baird & Co. Inc., a Milwaukee-based asset management fund. Tests of the technology show it raises the cost of power by about 50 percent, according to Philippe Joubert , president of Alstom Power. That premium still leaves coal cheaper than most other sources of electricity, Morris said. An existing coal plant with CO2 capture could make power for about 6 cents a kilowatt-hour compared with 18 cents for wind generation and 14 cents for power from a new nuclear plant, he said. The technology is still too expensive to be used on most of the nation’s existing coal-fired power plants, said Emily Rochon, climate and energy campaigner for Greenpeace, a Washington-based environmental group. The U.S. should “stop trying to hang on to coal at all costs” and look to renewable sources to help phase out coal power by 2050, Rochon said. Gasification Method The carbon-capture method being used at Mountaineer is still “a long way” from being workable on a commercial scale, she said. A rival method that requires turning coal into a gas is more expensive and can’t be added to existing plants, Joubert said in an Oct. 13 interview. Gasification is the technology that would be used in FutureGen, a $1.8 billion plant proposed for Illinois. The Obama administration revived the project after George W. Bush’s team questioned its cost. American Electric and Southern Co. said in June they were pulling out of FutureGen to focus on their own carbon-capture efforts. Retrofitting existing coal-fired power plants to make them suitable to run in a carbon-constrained world is a “huge problem that we’ll have to solve,” and gasification “cannot solve it,” Joubert said. Projects on Hold American Electric has put its two coal-gasification projects on hold, due to failure to obtain all state regulatory approvals and lower power-demand forecasts because of the recession. Morris said he would opt for coal gasification if he were building a new plant. The company said in August it was seeking funding from the Energy Department for half of the estimated $768 million it would cost to capture CO2 from 235 megawatts of Mountaineer’s 1,300-megawatt capacity. The demonstration project, which is costing American Electric $70 million, captures more than 90 percent of the CO2 from about 20 megawatts. Germany’s RWE AG and the Electric Power Research Institute, an industry-funded organization based in Palo Alto, California, are partners in the project. To contact the reporter on this story: Tina Seeley in New Haven, West Virginia, at tseeley@bloomberg.net .

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California’s Push for Electric Cars May Make Residents Pay More for Power

October 23, 2009

By Alan Ohnsman and Mark Chediak Oct. 23 (Bloomberg) — California’s push to lead U.S. sales of electric cars may result in higher power rates for consumers in the state, as a growing number of rechargeable vehicles forces utilities to pay for grid upgrades. The impact of the vehicles on electricity fees is being reviewed this month by California’s Public Utilities Commission as the most populous U.S. state will require Toyota Motor Corp. , General Motors Co., Honda Motor Co. , Ford Motor Co. and Nissan Motor Co. to sell more vehicles that can be powered at electric outlets from late 2011. Power companies including Southern California Edison, the state’s largest, have to install new transformers and meters to handle greater demand and prevent blackouts from circuits being overloaded by too many vehicles plugging in. The utilities will boost rates to recover investment costs, said Travis Miller , an analyst at Morningstar Inc. in Chicago. “If you look at the kind of money that will be needed for a full smart grid and support for electric vehicles, then you are talking about a substantial amount,” Miller said in a phone interview. The spending may total “multiple billions” of dollars over a decade or more, he said. From model years 2012 through 2014, the largest carmakers by volume in California must sell about 60,000 plug-in hybrids and electric cars combined, according to the state Air Resources Board. President Barack Obama is aiming for 1 million plug-in cars on U.S. roads by 2015 to curb tailpipe emissions and cut dependence on foreign oil. Overload Rosemead, California-based Edison International , the owner of Southern California Edison, has identified Santa Monica, California, as a community with many potential battery-car customers that may require transformer upgrades. A typical Santa Monica circuit, which serves about 10 households, may be overloaded should two or three customers on that circuit charge vehicles simultaneously, even if they do so overnight during off-peak hours, Ted Craver , Edison’s chief executive officer, said in a phone interview on Oct. 20. While surplus power is available at night at cheaper rates, the grid needs adjustments to handle such charging, Craver said. For example, additional or larger transformers may be needed in neighborhoods with numerous plug-in car owners. “If all those people do it at off hours, in the middle of the night, a lot of our system is designed so the transformers cool down at night,” Craver said. “That’s part of how they are able to function at full capacity during the day.” Rates Edison, PG&E Corp. , owner of Pacific Gas & Electric Co., and Sempra Energy’s San Diego Gas & Electric have said in filings with the state utilities commission they’ll have to make infrastructure investments related to plug-ins, without proving specific figures. Expenses will start next year for plug-in “readiness efforts, and will require a reasonable process for seeking recovery of these costs,” Edison said in its filing . Utilities providing power to recharge vehicles are set to receive “low-carbon fuel” credits that may be sold to oil companies. Edison, PG&E and San Diego Gas all said they’ll use revenue from the credits to moderate potential rate increases. A decision by the commission on rate changes linked to plug-ins isn’t likely for “several months,” Craver said. ‘Urgent Imperative’ The Edison Electric Institute , the main industry group for U.S. investor-owned utilities, said Oct. 21 its members are increasing efforts to prepare for electric vehicles, calling it an “urgent imperative.” Minneapolis-based utility Xcel Energy Inc. helped fund and install “ Smart Grid City ,” a $100 million project in Boulder, Colorado, designed for electric-vehicle charging. Toyota said this week it will supply 10 plug-in Prius hybrids for testing on the Boulder system in a program by the University of Colorado and the Energy Department. In addition to transformers, so-called smart meters and upgrades to public chargers installed in California a decade ago, individual customers will also have costs if they install home- use charging units, Craver said. Edison estimates that by 2020, as many as 1.6 million cars recharged by the grid may be in use in its 50,000-square-mile coverage area , about the size of Alabama. Edison is making system-wide upgrades to improve efficiency and doesn’t have a cost estimate for modifications related solely to battery vehicles, Craver said in an Oct. 15 interview at the company’s Electric Vehicle Technology Center in Pomona, California. “I don’t think you can really isolate and say this is just the pure incremental case related to electric vehicles,” he said. In preparation for vehicles such as Nissan’s Leaf electric car and GM’s Chevrolet Volt, due in late 2010, Edison is trying to estimate how much demand there will be, where most of the vehicles will be in use, and potential impacts on its system. “It’s important that the customer experience with plug-in electric vehicles be a good one,” Craver said. To contact the reporters on this story: Alan Ohnsman in Los Angeles at aohnsman@bloomberg.net ; Mark Chediak in San Francisco at mchediak@bloomberg.net

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Video: Earnings Watch – General Electric

October 16, 2009

General Electric may report the lowest profit in eleven years; The company made billions on the top line but this is closer to $42 billion. (Bloomberg News)

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Duke Energy Elbows Co-Ops for Right-to-Pollute Permits in Climate Measure

August 3, 2009

By Lorraine Woellert Aug. 3 (Bloomberg) — Some of the largest U.S. electricity companies, including Duke Energy Corp. and American Electric Power Co., are fighting what may be a $100 billion battle with smaller cooperatives, community providers and state regulators over the right to pollute

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