FERC Intercedes in Proposed Bailout of Ohio Utilities

first_imgFERC Intercedes in Proposed Bailout of Ohio Utilities FacebookTwitterLinkedInEmailPrint分享Dan Gearino for the Columbus Dispatch:Federal regulators dealt a blow to Ohio utility profit guarantees on Wednesday, saying the plans cannot go into effect until after a review of whether federal rules are being violated. The Federal Energy Regulatory Commission asserted its authority in a pair of orders, finding that the plans are not valid unless American Electric Power and FirstEnergy apply for, and receive, approval from the agency.The Public Utilities Commission of Ohio approved the eight-year profit guarantees late last month, allowing Columbus-based AEP and Akron-based FirstEnergy to receive benefits for selected power plants that might otherwise close.Until Wednesday, it was not known whether the federal commission would intercede.A key issue in the federal complaint is whether AEP and FirstEnergy customers are “captive,” in that they have no choice but to cover costs related to the plans. The PUCO and the Ohio companies said customers are not captive because they continue be able to choose an alternative provider in the state’s open market.The federal commission disagreed, stating that “AEP Ohio retail ratepayers are nonetheless captive in that they have no choice as to payment of the non-bypassable generation-related charges” embedded in the profit guarantees. Opponents of the plans say that wording shows that the Ohio companies are facing a highly skeptical audience in the federal commission, as opposed to the more friendly panel in Ohio.Full article: Federal agency says it must OK profit guarantees for AEP, FirstEnergylast_img read more

Hot penthouse sales fly in the face of apartment naysayers

first_img6/455 Adelaide St, Brisbane More from newsMould, age, not enough to stop 17 bidders fighting for this home4 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor4 hours ago6/455 Adelaide St, Brisbane“That end of the market there is such a limited amount of $3m plus properties sold in the city. There’s just been no availability. There’s such a confidence boost for the inner city. I’ve been in the inner city for 12 years now and never seen such confidence in the plus $1m range.”Both penthouses last night sold to local buyers, who have been hard-pressed amid strong interest from interstate and overseas, especially Singaporean and Chinese househunters.“We just can’t get enough of those types of properties, I’d take 10 tomorrow and sell them all.We’ve got 16 buyers from last night who are still looking.” 6/455 Adelaide St, Brisbane. Two penthouses sold under the hammer last night with a third at 462/30 Macrossan St, Brisbane believed to be in discussion.BRISBANE’S inner-city penthouses are defying apartment naysayers, with two selling at auction last night alone — one to locals who dialled in while having breakfast in Europe.Penthouses and sub-penthouses above $1-3 million were being snapped up as soon as they were declared on the market because the city had strong value-for-money compared to similar properties in other capitals, according to experts.Last night the 580sq m Bellagio penthouse at 6/455 Adelaide St sold under the hammer for $3.277m. As well the Quay West sub-penthouse at 2102/132 Alice St sold for $1.175m.The agent for both those properties, Brandon Wortley of Ray White New Farm, told The Courier-Mail he’d never seen anything like it in his 12 years of working the city. 2102/132 Alice St, Brisbane 2102/132 Alice St, Brisbane 2102/132 Alice St, BrisbaneMr Wortley said the Bellagio penthouse, which occupies two entire floors and has views towards the Story Bridge, attracted nine registered bidders last night.“It kicked off at $2m and rose really quickly in $100,000 rises. It got to $3.16m which was when it was called on market. It then sold for $3.227m.”“The owners were over the moon, they were stoked. They’d had close to 70 groups through the door during inspections. There’s been a lot of time and effort put into the sale.”He said the new owner of the Bellagio penthouse was bidding from Europe.“I think it was 8am or something there. They were on a romantic holiday so that was a nice gift for them.” He said the Alice St sub-penthouse had eight registered bidders last night, kicking off at $900,000 and was called on market at $1.05m.“It had 38 bids and sold for $1.175m, the owners are very pleased.”Post auction discussions were ongoing over a third penthouse that went under the hammer last night at 462/30 Macrossan St in the city.last_img read more