Assessing Competitiveness of Philadelphia Energy Solutions

Posted by Christina Simeone

Philadelphia’s own neighborhood refinery, Philadelphia Energy Solutions (PES), is serving as a catalyst for national debate between the ethanol and petroleum refining industries, blaming its bankruptcy on the Renewable Fuel Standard (RFS). While I am not interested in entering the RFS debate, I do think it is...


New FERC Rule Grows Clean Energy's Role in Grid Resilience

Posted by Thomas Lee

As variable renewable energy and energy storage resources continue to fuel an ongoing energy transition, regulators and grid operators are looking to also grow these resources’ responsibility towards the electric grid’s resilience. Last week, the Federal Energy Regulatory Commission (FERC) announced a final rule that...


Part 4: The Speculative Future of Philadelphia Energy Solutions

Posted by Christina Simeone

Now that we’ve explored the basics of the Philadelphia Energy Solutions bankruptcy, established the real reasons behind its failing financials, and demonstrated these challenges were largely foreseen, let’s explore the potential future of PES. PES’ bankruptcy filings include financial forecasts for 2018 to 2021,...


Part 3: Philadelphia Energy Solutions Investors Prioritized Stronger Investments

Posted by Christina Simeone

Now that you have a better understanding of the real financial challenges plaguing Philadelphia Energy Solutions (PES), you might be surprised to find that many of the challenges stressing PES were known and anticipated by its investors. And, reasonably, these investors sacrificed PES for the benefit of their more...


Part 2: Philadelphia Energy Solutions Ch. 11 Fact and Fiction

Posted by Christina Simeone

Now that you understand some basics about the Philadelphia Energy Solutions (PES) business and bankruptcy, let’s examine if PES’ claims about the RFS being the primary factor driving the company into bankruptcy really make sense. Increasing Renewable Fuel Standard (RFS) Compliance Costs. PES states the primary factor...


Part 1: Philadelphia Energy Solutions Bankruptcy Basics

Posted by Christina Simeone

As you’ve probably heard, the Philadelphia Energy Solutions (PES) neighborhood refinery—the oldest and largest refinery on the East Coast — filed for Chapter 11 bankruptcy restructuring last week. The bankruptcy plan intends to allow PES to continue uninterrupted operations while shedding or converting debt, extending...


Solar Industry Growth Set to Slow

Posted by Christina Simeone

After months of fingernail biting, yesterday, President Trump approved “safeguard tariffs” on imported solar equipment (e.g. cells and modules). While the situation seems dark, the sun will rise again. The Import Tariffs The import tariffs will apply to all imported solar equipment for a four-year period.  The first 2...


Clean Energy Costs Continue to Fall

Posted by Mollie Simon

Can renewable energy keep up with fossil fuels? A new report from the International Renewable Energy Agency (IRENA) says yes. The report, released last week, shows that renewable energy continues to be increasingly competitive in meeting generation needs. The report forecasts that all types of clean energy, including...


Yamal LNG – A Big Win for Russian Gas?

Posted by Anna Mikulska

On December 8, a first LNG cargo left Russia’s Yamal Peninsula. The event has been considered a great win not only by Yamal LNG shareholders but also by the Russian government, which sees the project as a first step to Russia’s becoming the world’s top LNG player. Yamal LNG was completed on time despite difficult...


FERC Says No to Resilience NOPR

Posted by Christina Simeone

Yesterday, facts (the real ones, not the alternative kind) ruled the day at FERC, as the commission unanimously rejected the proposal from Department of Energy (DOE) Secretary Rick Perry to guarantee cost recovery to merchant nuclear and coal plants that store 90 days of fuel on site. FERC’s January 8th order came...


Subscribe to Blog