State agencies challenge utility’s plan to purchase gas-fired power plant in Minnesota

first_imgState agencies challenge utility’s plan to purchase gas-fired power plant in Minnesota FacebookTwitterLinkedInEmailPrint分享Minneapolis Star Tribune:Xcel Energy’s proposed $650 million purchase of a gas-fired power plant in Mankato has run into strong opposition from two state agencies concerned about its potential impact on ratepayers.Minneapolis-based Xcel in November announced its intent to buy the large power plant from Atlanta-based Southern Power. Xcel currently buys electricity from the Mankato plant on a long-term contract. The company says owning the facility would entail significant savings for ratepayers and would help preserve electric grid reliability.But the Minnesota Department of Commerce concluded that Xcel’s proposed ownership of the Mankato plant “is unlikely to create substantial savings,” according to a recent regulatory filing. “Overall, Xcel has not shown need or any net benefits to ratepayers for Xcel’s proposed (gas plant) purchase.” Meanwhile, the Minnesota Attorney General’s Office slammed the deal in a recent regulatory filing, saying Xcel “structured the proposed acquisition in an opaque backroom deal and in the absence of any competition, transparency or meaningful need for alternative analysis.”The two state offices represent the public before the Minnesota Public Utilities Commission (PUC), which is likely to decide next month on the Mankato deal.Xcel, Minnesota’s largest electric utility, rejects criticisms from both agencies, noting in a statement to the Star Tribune that it has followed the “appropriate process” with its acquisition proposal. Xcel said the Mankato deal is vital for system stability as the company adds variable solar and wind energy while closing its coal-fired power plants, a primary source of constant power. “The purchase of the Mankato Energy Center will help pave the way to exit the use of coal in the Upper Midwest a decade earlier than planned,” Xcel said in the statement. The company declined to make an executive available for comment.In a PUC filing, the Commerce Department questioned whether the Mankato purchase is needed to facilitate Xcel’s early exit from coal.More: Regulators rip Xcel’s proposed $650 million deal for Mankato power plantlast_img read more

Assessing the World Cup’s importance to football trading

first_imgShare The Russian World Cup has been nothing short of enthralling, and with both Cristiano Ronaldo and Lionel Messi exiting the tournament early, it’s provided a stage for emerging talents to establish themselves as stars of world football.Football INDEX Chief Marketing Officer Mike Bohan spoke to SBC about how the World Cup and Football INDEX can provide an innovative platform for fans with an eye for an emerging talent, as well as what advice he’d give to football traders looking to maximise the tournament.SBC: Can you tell us a little bit about how big an opportunity the World Cup is for football traders?Mike Bohan: The first thing to say is that Football INDEX is the only place you can bet on football 24/7- 365 days a year; so whilst the sunshine and World Cup has of course been a glorious time for us there is never really a bad time to get involved in Football INDEX.Our platform has shares available in every single player who has participated at the World Cup. There have been some surprises both in the risers and fallers, both of which present opportunities to our traders. We’ve seen a huge volume of trades, high influx of new customers and great social media engagement during the tournament. With England’s involvement in the latter stages of the competition it’s a trend expected to continue. SBC: How much can a big World Cup performance or crucial tournament goal help increase a player’s value?MB: Ronaldo’s crucial last minute free kick equaliser against Spain is a good example. Though he’s a relatively expensive player on the Football INDEX platform he shot up 5% in a matter of minutes after the goal. Players with a lower share price obviously see more dramatic rises in value. However, it’s not just about players buy/sell value, we pay out dividends to shareholders of players who top our Media and Matchday rankings every single day of the year. These range from 12p per share held down to 2p depending on the volume and importance of the games each day. When you consider the potential capital growth, plus dividends, and factor in that players shares are available for as little as 25p, the World Cup has seen traders pocket a very tidy return all round.  SBC: Can you tell us more about how the World Cup can give lesser known players an unrivalled opportunity to emerge and become household names in world football, and what does this mean for football traders? MB: For recreational fans in the UK who may not watch the Spanish, German or other leagues week-in-week-out, the World Cup is such a big stage. Of course everyone knows the big names, but there has been lots of value to pick up lower down the market particularly in the African players. SBC: Can you give us some examples of players who’ve seen their stock rise substantially after key World Cup moments?MB: Kylian Mbappé’s brace of goals against Argentina saw his share price rise 70p to £6.23 and 11% increase in a matter of minutes, plus those who bought him were also paid out dividends that day. Put in perspective if you owned 500 shares in Mbappé’ before kick off you could’ve cashed out £350 profit on the day, or hung on for an even bigger cash out price. At the time of writing he’s trading at £6.78 a 23% increase in just a matter of days.SBC: What advice would you give traders looking to maximise the opportunity that the World Cup brings?MB: My advice would be to look beyond the World Cup and into next season. Traders who take a medium to long term view tend to trade more profitably than those who are in it for a day trading experience, but of course there are opportunities in both. A blend of short term speculation and longer-term positions to hold make the ideal portfolio. Ultimately, it’s up to each individual trader and that’s the beauty of Football INDEX – there really is nothing else like it in the market which provides such an extended entertainment value, intellectual satisfaction, and of course those all-important cash profits. StumbleUpon Share Related Articles Submit Neil Banbury: 32Red – Gambling operators can do more than just support a club’s performance on the football pitch April 17, 2019 Golden Race launches La Libertadores virtual football cup April 30, 2019 Interwetten targets €100 million GGR mark for 2019 August 5, 2019last_img read more