July 25, 2025

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Eversource Seeks $103M Hike, Proposes Performance-Based Rates

CONCORD, N.H., July 31, 2024 – The New Hampshire Public Utilities Commission is set to rule Friday on Eversource Energy’s request for a $103 million annual increase in distribution rates, a scaled-back ask from its original $182 million proposal. The utility also wants to overhaul its regulatory framework with a performance-based ratemaking (PBR) plan that would tie future rate adjustments to economic formulas rather than traditional prudency reviews.

Key stakes:

Residential rates would jump from 8.9¢ to 11.2¢/kWh on August 1—an average monthly rise of $13.61 (9.9%).

The PBR scheme would delay detailed rate cases until 2029, allow automatic annual adjustments and set a 10.3% return on equity, above the consumer advocate’s 8.13% benchmark.

Consumer groups warn the complex formula and a 43% increase in the fixed monthly charge (from $13.81 to $19.81) could shift risk and costs onto ratepayers.

East Anglia THREE Offshore Wind Secures $4.8 Billion Financing

Masdar and Iberdrola have closed a $4.87 billion debt financing for the 1.4 GW East Anglia THREE offshore wind farm off Suffolk, targeting Q4 2026 commissioning. The facility, backed by 23 banks and Denmark’s Export Credit Agency, was oversubscribed by over 40%, reflecting strong market confidence.

The project will power 1.3 million UK homes, support 2,300 construction jobs and 100 long-term roles. It benefits from a CPI-linked UK government CfD and a 2024 PPA with Amazon, underpinning revenue stability.

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Interior Department Tightens Review for Wind and Solar Projects

Washington, D.C. — Last week, the Department of the Interior unveiled new guidelines requiring all federal approvals for wind and solar projects on public land to undergo “elevated review” and secure personal sign-off from Secretary Doug Bergum. The move fulfills President Trump’s promise to conservative Republicans to further curb renewables after Congress stripped some tax credits in the latest budget bill.

Key developments:

The IPaC planning portal now warns that solar and wind projects can’t use its automated environmental screening.

Industry reports estimate up to 5% of private-land projects—those needing easements or grid ties through federal territory—could be caught in the drag.

Insiders warn the extra layer of bureaucracy may stall or quietly kill clean-energy developments, even beyond public lands.

Mastercard to Power Missouri Data Center with Onsite Solar

Mastercard has broken ground on a 40-acre solar facility adjacent to its O'Fallon, Missouri data center, its largest in the US, to supply up to 100% of its electricity needs by 2027. The center, which last year consumed more than a third of Mastercard’s global power—equivalent to 4,000 homes—currently generates just 10% of its energy onsite. The move reflects Mastercard’s push to net-zero emissions by 2040 and to decouple growth from carbon output.

Industry experts say the project signals a growing trend of large corporate users bypassing coal-reliant utilities. Ameren’s grid at O'Fallon draws 60% power from coal, prompting concerns that dirty energy could force data centers to relocate. Mastercard’s behind-the-meter solar farm underscores how major customers are seeking cleaner, self-generated power.

Duke Energy Seeks NC Approval for 850MW Natural Gas Plant Near Charlotte

Duke Energy has notified the North Carolina Utilities Commission of its intent to build two 850MW natural gas–fired combustion turbines at the former Buck Steam Station site in Rowan County. The turbines—Duke’s most efficient yet—would reach full output in 10–15 minutes, enough to power over 600,000 homes, as the Charlotte region’s demand surges.

Key points:

Interior Dept’s New Elevated Review Could Stall U.S. Wind and Solar Projects