Citibank reported a fourth-quarter net loss of $8.29 billion (its 5th straight quarterly loss.) They also announced they are splitting into 2 seperate businesses.
Bank of America Corp (BAC.N) posted its first quarterly loss in 17 years. First, they obtained an additional $20 billion from the government’s Troubled Asset Relief Program (TARP). Then, they reported a quarterly loss of $1.79 billion.
Toyota is likely to report its first quarterly loss in 70 years.
Apparently the distinguished senators from Peabody Coal must repay their masters. Yesterday’s companies paying yesterday’s politicians to burn yesterday’s fuels, to poison tomorrow’s children.
“That’s quite ok,” sez the court. “Perfectly legal. Nothing to see here, move along, go about your business.”
This is the kind of thing that drives me to drink. Barkeep, another one please. Make it a double.
NASA finds methane on Mars.
This is interesting since methane can be generated by living things. But they may also be generated by geological processes. Need more data.
“Right now, we don’t have enough information to tell if biology or geology — or both — is producing the methane on Mars,”
UK Ministry of Defense hit by virus. But for security reasons, they will say very little.
The MoD refused to discuss details of the virus, transmission methods, countermeasures or other specifics of the incident “for security reasons”.
I got a tip for them. Don’t use Microsoft products.
“Middle-aged people who drank between three and five cups of coffee a day lowered their risk of developing dementia and Alzheimer’s disease by between 60 and 65 per cent later in life,” said lead researcher on the project, Miia Kivipelto, a professor at the University of Kuopio in Finland and at the Karolinska Institute in Stockholm.
On the other hand, not too much, please.
The Finnish-Swedish research results surfaced just a day after a separate study published by psychologists at Durham University showed a link between heavy coffee drinking and hallucinations.
“I guess this shows that you shouldn’t exaggerate,” Kivipelto said when asked about the British study, pointing out that her research showed “insignificant” benefits to drinking more than five cups of coffee a day when it came to protecting against dementia.
“Too much is simply too much,” she said.
Energy Sources
Energy is the vital force powering business, manufacturing, and the transportation of goods and services to serve the American and world economies. Energy supply and demand plays an increasingly vital role in our national security and the economic output of our nation. It is not surprising that the United States spends over 500 billion dollars annually on energy.
Increasing energy supplies.
As America’s need for energy grows, the Department of Energy is meeting the challenge by establishing clean fuel initiatives to make the most of traditional fossil fuels while investing in cutting edge research to develop sustainable sources such as fusion and to employ hydrogen (an energy carrier like electricity) which can be produced from diverse, domestic sources and greatly reduce our dependence on imported oil.
Modernizing our energy infrastructure.
By developing the infrastructure to support these fuels, DOE is striving every day to protect our nation’s energy needs and our planet’s environment.
Ensuring the productive and optimal use of energy resources, while limiting environmental impact.
In addition, the Department of Energy is harnessing the power of the earth itself to meet our energy needs. Advances in wind, hydro and geothermal energy allow us to take advantage of clean, abundant energy.
Cooperating on international energy issues.
The Department’s activities are instrumental in establishing the safety, reliability, and efficiency of energy supplies in a global marketplace.
If I were a bank, Bernanke could give me money too.
I see that Bernanke will give banks more:
“Bernanke said Tuesday that the government must pump more money into troubled financial institutions and that further guarantees of their debt could be necessary.”
Meanwhile the Citi never sleeps, losing more every day. Now they will split into two, perhaps each half will get twice as much money? This is the amoeba theory of multiplication by division. Nice job if you can get it.
PPL is a power utility in Pennsylvania. About five years ago, I called PPL about a grid connection for a windmill on a farm. I was told that the connection would have to be entirely separate from the current connection, that I would be credited for any electricity generated, but that all the credits would have to be used up through consumption at that property within 30 days…
Ha! said I, in high dudgeon. A pox upon your house. Why should I even bother to connect to the grid ?
Now I see that PPL has been slowly and reluctantly forced into the new millennium. I quote from the FAQ at
http://www.dsireusa.org/library/includes/printincentive.cfm?incentive_code=PA03R
“The PUC adopted net-metering rules and interconnection standards for net-metered systems and other forms of DG in 2006, pursuant to the Alternative Energy Portfolio Standards (AEPS) Act of 2004. In 2007, H.B. 1203 amended the Pennsylvania AEPS and also expanded net metering. Revised rules consistent with these amendments became effective in November 2008. ”
In addition, I am informed that all renewable energy credits will remain with the customer.
And from the PPL FAQ at
http://www.pplelectric.com/NR/rdonlyres/15E0263A-063C-4E86-9F37-B5C75CC66446/0/FAQsCustGenWebPages_r1.pdf
“We will pay you the full retail value of your generation…”
Now they’re talking.
Talking bout my generation….
Pennsylvania
Pennsylvania - Net Metering
Incentive Type: Net Metering
Eligible Renewable/Other Technologies: Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Fuel Cells, Municipal Solid Waste, CHP/Cogeneration, Waste Coal, Coal-Mine Methane, Anaerobic Digestion, Other Distributed Generation Technologies
Applicable Sectors: Commercial, Industrial, Residential, Nonprofit, Schools, Local Government, State Government, Fed. Government, Agricultural, Institutional
Limit on System Size: Residential: 50 kW; Non-residential: 3 MW; Customers with systems that are part of microgrids or are available for emergency use: 5 MW
Limit on Overall Enrollment: No limit specified
Treatment of Net Excess: Credited to customer’s next bill at retail rate; customer receives compensation for remaining NEG at “price-to-compare” at year-end
Utilities Involved: Investor-owned utilities
Interconnection Standards for Net Metering? Yes
Authority 1: 73 P.S. § 1648.1 et seq.
Date Enacted: 11/30/2004; amended 2007
Authority 2: 52 Pa. Code Chapter 75, Subchapter B
Date Enacted: 06/22/2006
Effective Date: 12/16/2006
Authority 3: PUC Rulemaking Order L-00050174
Date Enacted: 05/22/2008
Effective Date: 11/28/2008
Summary:
The PUC adopted net-metering rules and interconnection standards for net-metered systems and other forms of DG in 2006, pursuant to the Alternative Energy Portfolio Standards (AEPS) Act of 2004. In 2007, H.B. 1203 amended the Pennsylvania AEPS and also expanded net metering. Revised rules consistent with these amendments became effective in November 2008.
In Pennsylvania, investor-owned utilities must offer net metering to residential customers that generate electricity with systems up to 50 kilowatts (kW) in capacity; nonresidential customers with systems up to three megawatts (MW) in capacity; and customers with systems greater than 3 MW but no more than 5 MW who make their systems available to the grid during emergencies, or where a microgrid is in place in order to maintain critical infrastructure. Net metering is available when any portion of the electricity generated is used to offset on-site consumption (i.e., system size is not limited by the customer’s on-site load).
Systems eligible for net metering include those that generate electricity using photovoltaics (PV), solar-thermal energy, wind energy, hydropower, geothermal energy, biomass energy, fuel cells, combined heat and power (CHP), municipal solid waste, waste coal, coal-mine methane, other forms of distributed generation (DG) and certain demand-side management technologies.
Net metering is achieved using a single, bi-directional meter that can measure and record the flow of electricity in both directions at the same rate. Net excess generation (NEG) is carried forward and credited to the customer’s next bill at the full retail rate. Customer-generators are compensated for remaining NEG at the utility’s “price-to-compare” at the end of the year. The price-to-compare includes the generation and transmission components — but not the distribution component — of a utility’s retail rate. In order to reconcile net metering with Pennsylvania’s broader renewable energy goals, the “year” referenced above is defined to coincide with the compliance year (June 1 - May 31) used for Pennsylvania’s Alternative Energy Portfolio Standard (AEPS).
The utility must provide this meter if a customer’s existing meter does not meet these requirements. If a customer agrees, a dual-meter arrangement may be substituted for the bi-directional meter. Utilities must provide net metering at nondiscriminatory rates identical with respect to rate structure, retail rate components, and any monthly charges to the rates charged to non-net-metered customers. Utilities may not charge net-metered customers any fees or other charges that do not apply to non-net-metered customers. Furthermore, utilities may not require customers to install any additional equipment or carry liability insurance.
Any customer net excess generation (NEG) will be credited at the utility’s retail rate and carried over to the customer’s next bill during a 12-month period. Customers retain ownership of alternative-energy credits (commonly referred to as “renewable-energy credits” or “RECs” when associated with renewable energy) unless there is a contract with an express provision that assigns REC ownership to another entity, or unless the customer expressly rejects REC ownership. If a net-metered customer chooses to take ownership or transfer ownership of alternative-energy credits, then the customer is responsible for installing metering equipment required to measure alternative-energy credits.*
Pennsylvania’s rules allow meter aggregation on properties owned or leased and operated by a customer. This primarily benefits farms that are commonly owned and operated. Aggregation is limited to meters (in a single utility’s service territory) that are located on properties within two miles of the boundaries of the customer’s property. The utility must provide the necessary equipment for physical meter aggregation, but the customer must pay the costs. In addition, “virtual meter aggregation” is allowed for properties owned or leased and operated by a customer and located within two miles of the boundaries of the customer’s property and within a single utility’s service territory. For virtual meter aggregation, the customer is responsible only for any incremental expense involved in processing the account on a virtual meter aggregation basis.
If a net-metered customer’s self-generation results in a 10% or higher reduction in the customer’s purchase of electricity for an annualized period, the customer must pay for its share of stranded costs to prevent interclass or intraclass shifting.
*In November 2008 amended rules for the Pennsylvania Alternative Energy Portfolio Standard (AEPS) became effective. These rules exempt PV systems of 15 kW or less from a requirement that alternative energy credit (AEC) certification be verified by metered data, and instead provide a more general instruction that it be verified by the system administrator. Thus, despite the reference to “required” equipment that remains in the net metering rules, small solar facilities may not be required to install additional metering equipment in order to generate AEPS eligible credits.
Contact:
Calvin Birge
Pennsylvania Public Utility Commission
P.O. Box 3265
Harrisburg, PA 17105-3265
Phone: (717) 783-1555
Fax: (717) 787-5813
E-Mail:> cbirge@state.pa.us
Web site: http://www.puc.state.pa.us