Bankruptcy

pv magazine USA sees spring is around the corner, so here’s a fresh Morning Brief, including Fitch downgrading more California Solar and Toyota buying power from solar projects planned in Kentucky.

California utility Pacific Gas & Electric’s bankruptcy points to a crisis not only at the company, but in the business model for utilities in the United States. And it is far from clear what will come next.

A district court has ruled that the bankruptcy court will be where the decisions are made as to what happens to power contracts, ending a push by developers to give FERC a greater say.

Seven community choice aggregators have asked California regulators to take PG&E out of the business of supplying electricity to its customers, and allow them and/or other public entities to take over the retail business so PG&E can focus on safe electricity transmission and distribution.

Good news, everyone: you’re halfway through your workweek and back reading the pv magazine morning brief. We’ve got a full slate today, including EVgo powering over 75 Million EV miles in 2018 and the world’s first solar-electric sewage pump-out boat.

While acknowledging that the law is “unsettled,” FERC has said that it and the bankruptcy courts have concurrent jurisdiction over power contracts, as other generators holding PG&E contracts join the fray.

PG&E has filed a response to NextEra’s request to protect its power purchase agreements, by arguing that no harm has yet occurred, FERC doesn’t have jurisdiction, and that ongoing case law referenced by NextEra is not applicable.

The developer has filed at FERC to proactively stop any changes to its contracts, but the bankruptcy court will have the final say. The move comes as PG&E reports receiving $5.5 billion to keep it afloat during its bankruptcy.

Fitch Ratings has found that utility scale solar power projects outperform similarly sized wind projects when it comes to predictability of revenue, with most solar projects decently outperforming original ratings.

In this interview California Solar & Storage Association’s (CALSSA) senior advisor looks at what the pending bankruptcy of PG&E should mean for solar and energy storage, from rooftop solar to the future of the utility.