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first_img FacebookTwitterLinkedInEmailPrint分享John Funk for the Cleveland Plain Dealer:FirstEnergy customers could save $256 million over the next eight years, state regulators believe, by paying increased monthly bills now.That extra money, which could be as low as $3.50 or as high as $8-to-$10 a month in the next couple of years, will subsidize the operations of two power plants that cannot match the low-priced power produced by natural gas-fired plants, which now set wholesale prices on the high-voltage grid.The Public Utilities Commission of Ohio handed down its ruling Thursday, agreeing with FirstEnergy that saving the old power plants is a good idea and that in later years the arrangement will lower customer bills because natural gas prices could increase significantly. The commission also concluded that if the plants were to close, the cost of building new transmission line upgrades would cost between $436 million and $1.1 billion, costs customers would bear.The opinion and order, which is sure to be appealed, dismisses the arguments made by the experts retained by opponents, including the Ohio Consumers’ Counsel, the Northeast Ohio Public Energy Council, the Sierra Club, competing power companies and others. These analysts concluded that the power deals could cost FirstEnergy’s customers an extra $3 billion to $5 billion over the eight years.UCO believes FirstEnergy deal will save customers $256 million Appeals Expected in Ohio Ruling to Keep Aging Coal Plants Onlinelast_img read more

first_img continue reading » The IRS has revoked the tax-exempt status of a financially troubled California credit union.The $590,634 Jones Methodist Church Credit Union in San Francisco, chartered in 1953 for its members who were being redlined or charged with unfair interest rates by banks, had its tax-exempt status automatically pulled on May 15, 2017 after the cooperative failed to file its Form 990 for three consecutive years.The last time Methodist Church CU submitted its Form 990-N to the IRS was for tax year 2013, according to the federal agency. When a nonprofit organization, including any state-chartered credit union, fails to submit a Form 990 for three consecutive years, that organization’s tax-exempt status is automatically revoked.California credit unions are required to incorporate under the nonprofit mutual benefit corporation law, which makes a credit union eligible to apply for tax-exempt status. However, the state’s law does not require credit unions to have tax-exempt status,  Lila Mirrashidi, California DBO’s deputy commissioner, said. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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first_imgEnergean has informed that the work restarted on the Energean Power FPSO in the Admiralty Yard, Singapore, on 2 June 2020 and the subsea installation campaign offshore Israel is progressing as planned. An application has been submitted to the Singapore Economic Development Board for the return of up to 529 workers for the Energean Power project. Following a CPR of Karish North resource volumes, issued by Energean’s independent reserves auditor, Energean Israel has converted a further 0.6 bcm/yr of gas sales and purchase contracts (GSPAs) from contingent to firm. Core installation using the Solitaire is expected to be completed by end-June 2020. The full pipeline installation and pre-commissioning programme is expected to be completed in 4Q 2020, well within the project schedule. The ramp-up of the workforce, currently expected over the course of June, will be dictated by the Singaporean authorities’ ongoing evaluation of the situation, Energean explained. Energean said on Monday that, on 2 June 2020, the Sembcorp Marine Admiralty Yard, Singapore, reopened. Preparation works for the lifting of the topside modules of the Energean Power FPSO has started. The FPSO hull, meant for the Karish and Tanin development offshore Israel, sailed away from the COSCO yard in China in early April and arrived in Singapore for topside integration works in mid-April. The CPR enables Energean to continue marketing its gas resources into the growing Israeli domestic market and regional export markets, with the aim to secure additional long-term cash flows and fulfil its goal of filling the 8 bcm/yr capacity of its FPSO. Subsea installation All of Energean’s Karish GSPAs contain take-or-pay and floor pricing provisions, which reduce the risks on Energean’s cash flow generation profile on the Karish project and limit Energean’s exposure to global commodity price fluctuations. Filling FPSO capacity The pipelay vessel Solitaire and construction support vessel Normand Cutter arrived offshore Israel in May 2020. At first, the delay was expected to last for at least two weeks, but it lasted over a month and a half. The near-and-onshore pipeline installation has now been completed and laying of the remaining 80km gas pipeline that will deliver gas from the Energean Power FPSO to Israel has now started. Energean does not expect the revised timetable to have a material financial impact on the company due to the contracting structures that it has in place with its main contractor and its gas buyers. However, due to a temporary halt of operations at the yard amid coronavirus pandemic restrictions, the integration works were postponed. Installation of the subsea equipment at the Karish field is progressing in line with expectations. Installation of the manifold and subsea isolation valves is ongoing and is expected to be completed by end-June 2020. Installation of the three sets of risers that will connect the three producing wells to the FPSO is expected to start in 4Q 2020 and to be completed in 1Q 2021. Energean Israel’s firm GSPAs are now expected to deliver sold volumes of 5.6 bcm/yr on plateau, or approximately 75% of Energean’s independently verified resource base. Before any further effects of COVID-19, the key FPSO activities that are required to achieve first gas are topsides integration and commissioning activities in Singapore, which is expected to take approximately ten months; and then FPSO tow to the Karish field in Israel and subsequent mooring, hook-up and commissioning of the FPSO – expected to take up to four months. The forward work programme on the FPSO is contingent on the evolution of the global pandemic and decisions of the Singapore authorities. last_img read more

first_imgEveryone has heard the commercials proclaiming “what happens in Vegas stays in Vegas.”While it’s true for most visits to Sin City, the No 8-ranked Wisconsin wrestling team will try to build on their strong performance at the Cliff Keen Invite in Las Vegas this past weekend. The Badgers wrestled well and finished with two wrestlers — Tyler Turner and Craig Henning — in the top five.”All things considered, it was a good performance. We had nine guys compete, four of them were backups and everyone stepped it up,” head coach Barry Davis said. “I was very pleased with the overall effort and the way we competed.”This weekend the Badgers will travel to Cedar Falls, Iowa where they will take on a formidable opponent in Northern Iowa. On the Mats, UNI holds a slim 18-16 advantage in the all-time series against Wisconsin.However, as of late, the Badgers have succeeded against the Panthers, winning the last three meetings in convincing fashion. Currently, Northern Iowa is ranked at No. 20 and has nationally ranked wrestlers at the 141, 157 and 165-pound weight classes.One of the more stimulating matchups of the weekend should be at the 133-pound weight class, where Tom Clum is expected to make his triumphant return to the Badger lineup.After being sidelined with a wrist injury all season the All-American will square off against one of Northern Iowa’s best in Chris Helgeson. Helgeson is currently the active leader in career wins at UNI with 64, and this season he holds a 13-6 record — good enough for best on the team.Players and coaches alike have been waiting for Clum to return, and there’s no doubt he will be put to the test in his debut this weekend.At the 141-pound weight class, UW senior Ed Gutnik will be facing sophomore C.J. Ettelson, who currently leads the Panthers with three pins on the year. Ettelson is 11-4 this season and has a career record of 33-16. He was a national qualifier a year ago after posting a 22-12 record as a redshirt freshman.Gutnik, who has emerged as a star for the Badgers, has just one loss on the year after being defeated by one point against Northern Illinois’s Josh Wooton.”[Northern Iowa has] got a bunch of guys ranked. They’re a talented squad and it should be a good meet,” Gutnik said. “But we always expect to win and it’s no different this weekend.”At the 174-pound class, Wisconsin’s Tyler Turner will be competing after an eventful weekend in Vegas. After losing his first match of the season in the semi-finals, Turner went on to take home third place in tournament after beating the No. 2-ranked wrestler in the country, Arizona State’s Pat Payne.Turner, who is 9-1 on the year, expects a hostile environment in Cedar Falls and will look to weather the storm.”The [crowd’s] going to be with them and the fact that we’re ranked higher doesn’t mean they don’t have a chance,” Turner said. “Anything could happen, and we’re just looking to improve on what we have so far. We’ve just got to forget about the crowd, do the little things and [we’ll] be OK.”Following their road meet against Northern Iowa, Wisconsin will return home and hit the mats for another set of matches against Northern Illinois. Back-to-back meets in different venues won’t be an easy task, but Davis expects his team to be ready.”I don’t anticipate that being a problem — we’ve had the Vegas tournament back-to-back days and then the Rock Haven tournament followed by Penn State,” Davis said. “I was wondering how our young guys would handle it but they responded well in some hostile environments. We’ve been training for these situations all season, and we’ll be ready.”Saturday’s meet will be broadcast live on Iowa local television, while the Badgers’ home meet against Northern Illinois will be available via webcast at Uwbadgers.com.”We’re getting a chance to perform in Iowa and show their fans what this program is all about,” Davis said. “Wisconsin wrestling is on the move, and when we come home, we’re going to get a chance to showcase our talent. These are two must-win situations because we’ve got to keep on the upswing before our schedule gets heavy.”last_img read more

first_imgKawhi Leonard, Clippers rally to beat Pelicans Don’t believe it, says the “Financial Fair Play” project leader monitoring hundreds of clubs’ accounts since 2011.“Certainly FFP is not dead and we will, for sure, reinforce the rules going forward,” Andrea Traverso told The Associated Press at UEFA headquarters.FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’Luxury taxes and salary caps once dismissed as unworkable in Europe are again talked about. UEFA could start evaluating club debts and make competitive balance a formal goal.“We have continuous dialogue with the clubs. They are all aware of the rules,” Traverso said, noting Champions League regular Porto was sanctioned last month. Kevin Durant arrives in India as NBA tries to grow game Recent Milan spending outweighs its 217 million euro ($254 million) revenue in 2015, according to a UEFA review of club accounts.However, UEFA cannot stop clubs buying, while Milan can use August and January trading periods to balance its books.“Milan will not be an exception to Financial Fair Play, because no club enjoys an exception,” Traverso said. “All clubs are free to operate on the market but then they might face consequences if they do not operate according to the rules.”Milan’s case is unusual because it had no FFP assessment for three years. A Europa League qualifying match on Thursday was its first UEFA game since March 2014. New club officials will meet UEFA in October to explore a “voluntary agreement” on financial targets.It continues Milan’s interesting history with the UEFA project. In 2009, then-UEFA President Michel Platini cited lobbying by owners, including Milan’s Silvio Berlusconi, to limit clubs spending only what they earned.Critics said it protected elite clubs with global income, and blocked ambitious clubs with wealthy owners.When UEFA rules took full effect in 2014, Qatar-owned PSG and Abu Dhabi-owned Manchester City were hardest hit. Both had 20 million euros ($23.4 million) deducted.By 2015, Milan was slumping when UEFA offered to be sympathetic with clubs which had an affordable business plan. This helped clubs to woo buyers, including Chinese investors who now own Milan and city rival Inter.As the $800 million Milan sale was sealed in April, PSG and Man City completed periods of stricter UEFA monitoring. Both clubs are high in UEFA’s revenue-earning list with more than 460 million euros ($540 million), and are major transfer market players.PSG’s chase of Neymar could double the world-record price Manchester United paid for Paul Pogba. GENEVA — In another European summer of lavish transfer deals, it can seem that UEFA has given up trying to curb clubs’ excessive spending.Skeptics question AC Milan’s 200 million euro ($240 million) spree and how Paris Saint-Germain could squeeze a 220 million euro ($258 million) pursuit of Barcelona’s Neymar by the UEFA rules.ADVERTISEMENT ‘I’m out!’: PewDiePie releases last video before taking break from YouTube UEFA never barred PSG or Man City from the Champions League, as Platini warned could happen to a top club.Instead, clubs like Dynamo Moscow, Galatasaray and Dnipro Dnipropetrovsk, the 2015 Europa League runner-up, have missed one season in the second-tier competition.UEFA points out that losses across European top-tier clubs totaled 1.7 billion euros ($2 billion) in 2011 and are now about 300 million euros ($352 million).Juventus is a model club. It won six straight Italian titles, reached two Champions League finals, and funded a new stadium to raise income and close the gap on Spanish and English clubs’ huge global earnings.UEFA’s Traverso insisted: “FFP is definitely not over.”Sports Related Videospowered by AdSparcRead Next After Porto overspent on first-team budget targets, UEFA deducted 700,000 euros ($820,000) prize money and limited the squad to 22 instead of 25 senior players in this season’s competition.UEFA’s independent club finance panel praised the 27-time Portuguese champion’s “realistic financial and business plan,” and expects compliance by 2020.Still, do clubs ignore the scrutiny that goes with entering UEFA competitions?Milan’s new Chinese owners, who needed American equity fund cash, spent heavily on players after six years without a Serie A title.“I’m so upset at UEFA. It’s a joke,” Roma president James Pallotta told the AP about Milan’s offseason. “They don’t have the money.”ADVERTISEMENT Indian national gunned down in Camarines Sur MOST READ View commentscenter_img 787 earthquakes recorded in 24 hours due to restive Taal Volcano Filipinos turn Taal Volcano ash, plastic trash into bricks PLAY LIST 01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite Ai-Ai delas Alas on Jiro Manio: ‘Sana pinahalagahan niya ang naitulong ko’ End of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legend Marcosian mode: Duterte threatens to arrest water execs ‘one night’ McGregor blasts Cerrone in 40 seconds in UFC return Don’t miss out on the latest news and information. LATEST STORIES LeBron James scores 31 points, Lakers beat Rocketslast_img read more

first_imgSimon Clare joins the Alan Brazil Sports Breakfast to round up the latest sporting odds.The Coral spokesman looks ahead to Crystal Palace v Sunderland on Monday night, revealing the Eagles are 4/7 for the win, with the struggling Black Cats big outsiders at 11/2.He also discusses Jamie Vardy’s stunning form and says the Leicester striker is 6/4 to score for an 11th successive game, and break Ruud van Nistelrooy’s Premier League record in the process, against Manchester United this weekend.Clare also assesses the title race, and reveals Tottenham are 20/1 to top the table come the end of the campaign following their stunning run of form.Coral is the official betting partner of the Alan Brazil Sports Breakfastlast_img read more