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Utility Takeover

All articles tagged with #utility takeover

Panhandle Businessman Aims to Acquire Local Electric Utility

Originally Published 3 days ago — by The Texas Tribune

A Texas Panhandle businessman, Salem Abraham, is leading efforts by local towns to pressure Xcel Energy to upgrade its aging infrastructure after wildfires caused by utility poles, with plans to potentially take over the utility if safety concerns persist. The coalition of towns is also exploring legal avenues for a utility takeover, citing safety failures and community distrust, while Xcel claims to have implemented significant safety measures and infrastructure improvements.

nation local-government-and-utilities infrastructure-repair local-government-and-utilities texas-panhandle utility-takeover wildfire-risk xcel-energy

Minnesota Approves BlackRock and Private Investor Takeovers of Utilities

Originally Published 3 months ago — by Private Equity Stakeholder Project PESP

The Minnesota Public Utilities Commission approved BlackRock's acquisition of Minnesota Power despite warnings from an Administrative Law Judge and opposition from consumer advocates, raising concerns about higher bills, less oversight, and the prioritization of profits over public interest.

business energy blackrock energy minnesota-power private-equity rate-increases utility-takeover