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The move by Constellation, which is a subsidiary of Chicago-based Exelon Corp., comes at a time when more power generation companies are expanding their home retail businesses and services. Houston-based Calpine power company is buying Champion Energy Services and NRG Energy already has brands like Reliant and more.
Energy Future Holdings, which filed for bankruptcy protection more than a year ago, also owns Luminant power company and TXU Energy and has long considered selling Oncor in order to help right itself financially. Energy Future Holdings owns 80 percent of Oncor.
CenterPoint Energy, which also sells and distributes natural gas in much of the country, reported $1.53 billion in revenues for the quarter compared to $1.88 billion last year. The $77 million in net earnings, or 18 cents per share, compared to $107 million, or 25 cents per share, last year.
The Electric Reliability Council of Texas, which runs the state’s electric grid, said the preliminary estimate for power demand during that hour was the highest it has ever recorded.
Dynegy reported a $388 million net gain, or $2.73 per common diluted share, compared to a loss of $123 million, or $1.23 per share, for the second quarter last year.
On July 29, ERCOT asked Texas consumers to reduce their power use to reduce the chance of outages, though Jones said the electric grid has been able to provide capacity as high as 71,000 megawatts.
The 16 states and a handful of others are preparing to sue the Obama administration to block the rules permanently by arguing they exceed Obama’s authority. Bolstered by a recent Supreme Court ruling against the administration’s mercury limits, opponents argued that states shouldn’t have to start preparing to comply with a rule that may eventually get thrown out by the courts.
NRG’s stock briefly dipped below $20 a share Tuesday for the first time since 2012 but jumped back up in the afternoon.
President Barack Obama said the unprecedented carbon dioxide limits are the “the single most important step” America has ever taken to fight climate change.
A heat wave across Texas is pushing up power use. Every major Texas city this week has felt triple digit temperatues, with Houston experiencing its first 100 degree-days in two years.