Jared Anderson

Posts by Jared Anderson

Yes it Can Happen Here: Poughkeepsie Utility Hacked

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Central Hudson Gas and Electric based in Poughkeepsie, New York is working with state and federal authorities and industry groups to investigate a cyber attack earlier this month where hackers gained entry to as many as 110,000 customer accounts. Employees detected the computer system intrusion, which happened over a weekend, as a result of regular control procedures, the utility said.

So far there appears to be no evidence that customer information was misused or downloaded during the incident, but the utility has warned customers to monitor bank accounts for suspicious or unauthorized activity. Newsday reports that while customer information may have been compromised, a company spokesman indicated there is no evidence the intruders found their way to the electric infrastructure. The investigation is continuing. Keep reading →

 /  Published February 28, 2013 at 8:30 AM

Chesapeake’s JV Deal with Sinopec ‘Looks a Little Light’

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Analysts mostly agree that Chesapeake Energy received a relatively low price for the Mississippi Lime acreage it agreed to sell to China’s Sinopec for $1.02 billion. What is less clear though, is whether the price Chesapeake received reflects the company’s position as a distressed seller, or the quality of the assets sold. The Mississippi Lime is a shale play extending from northern Oklahoma into central Kansas.

“From my perspective, the proceeds looked a bit light on a per acre basis as well as per barrel of oil equivalent on a proved reserve basis,” Phil Weiss, Senior Analyst covering energy for Argus Research recently told Breaking Energy in an email. Keep reading →

 /  Published February 26, 2013 at 1:00 PM

$CHK gets weak price for Miss Lime deal with #Sinopec. Stock down 1.5% pre-mkt. This is what happens when ur a forced seller #wsj

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$CHK gets weak price for Miss Lime deal with #Sinopec. Stock down 1.5% pre-mkt. This is what happens when ur a forced seller #wsj

@liamdenning Keep reading →

 /  Published February 25, 2013 at 2:40 PM

States Encourage and Discourage Renewable Energy Trading

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Renewable energy trading markets vary considerably by state and can be heavily influenced by politics, but they are functioning with apparent room for growth.

The various markets fall within the territories controlled by large utilities and independent system operators and are then further subdivided by state. Some states like Illinois fall within the jurisdiction of multiple utilities or ISOs. Keep reading →

 /  Published February 25, 2013 at 12:00 PM

Big Solar Looks To Grow With Precise Cloud Forecasts

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The forecast is looking better for getting more solar energy onto the grid and at lower cost, scientists at the National Center for Atmospheric Research say.

A team at the federally funded research and development center in Boulder, Colo., is embarking on a three-year project aimed at giving solar power plant and grid operators three-day forecasts that break down expected sunlight and power production by 15-minute increments. Keep reading →

 /  Published February 25, 2013 at 8:30 AM

US Railcar Oil Deliveries Hit Record in 2012 -Trade Group

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The use of rail cars to transport crude oil in the U.S. reached a record in 2012 and continues to rise, the Association of American Railroads said Thursday.

 /  Published February 21, 2013 at 3:40 PM

Challenge and Opportunity: Financing Renewable Energy Projects

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Structuring renewable energy projects that provide acceptable investment returns is often helped by using feed in tariffs in European and other markets, but tax equity vehicles are more common in the US. Tax equity arrangements can be structurally complicated and difficult to administer, but can also provide double-digit returns when done properly.

These were some of the issues discussed by an expert panel at the AGRION Energy Summit and Sustainability Meeting held this week in New York City. The production tax credit for wind projects – recently extended for one year after much controversy – and the investment tax credit for solar are two tax equity vehicles commonly used in the US to help finance projects. Keep reading →

 /  Published February 21, 2013 at 8:30 AM

Tepco’s US LNG Agreement: Small Volumes, Big Deal

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Japan’s recent deal to import US LNG at Henry Hub benchmark prices appears largely symbolic, but is important for the sector as it could represent the beginning of a larger trend away from oil-linked LNG prices for the world’s largest LNG importer.

“They [the deal’s negotiators] were very surprised they were able to pull it off,” a source familiar with the negotiations recently told Breaking Energy. Keep reading →

 /  Published February 19, 2013 at 8:30 AM

Shell’s Grounded Alaskan Oil Rig Determined Stable: Set to Move to Asia

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The multi-million dollar oil drilling rig named Kulluk that ran aground offshore Alaska on New Year’s Eve has been deemed stable enough to tow out of Kiliuda Bay to Dutch Harbor. The Kulluk will be brought to a purpose-built dock from which it can be safely prepared for “dry-tow transit to Asia” for repairs.

“The completion of the damage assessment revealed that the inner hull of the Kulluk was not breached and that all fuel tanks remain intact. The outer hull did receive damage as expected with a vessel being aground during adverse weather. In addition, the Kulluk encountered water damage to its superstructure which resulted in damage to technical equipment and a breach of windows and hatches. Over the past few weeks, all damaged windows and hatches on the Kulluk’s main deck have been secured, and where necessary, temporary steel structures have been put in place to ensure that the vessel is weather tight and prepared for the tow,” according to an update issued by the Unified Command in charge of the operation. Keep reading →

 /  Published February 14, 2013 at 3:15 PM

IEA: Oil Market Undergoing ‘Dramatic Changes,’ Prices Up

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In its Monthly Oil Market Report released today, the International Energy Agency said positive economic indicators from the US and China, strong financial market activity and cooler Northern Hemisphere weather combined to push global oil price benchmarks above nine month highs in early February.

Bringing incremental oil production volumes to the global market has been challenging for producers. The recent deadly hostage crisis at a remote Algerian natural gas plant has led firms to re-evaluate their security protocols in the region, with one company pulling its staff out of Nigeria due to safety concerns, said the IEA. Keep reading →

 /  Published February 13, 2013 at 12:00 PM
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