News From East Coast AND West Coast -- June 11, 2019

To save time, a simple cut and past from a note that a reader sent me. First the news, from multiple sources, this one from The WSJ:

PG&E Corp. scored a legal victory over federal regulators that could clear the way for the financially troubled utility to rip up billions of dollars in expensive green-power contracts as it seeks to exit bankruptcy.

The ruling by Judge Dennis Montali, who is presiding over PG&E’s chapter 11 proceeding, may allow the company to get out of $42 billion in power-purchase agreements, including many pioneering wind and solar deals that are now well above current market prices.

That could threaten scores of electricity suppliers including units of NextEra Energy Inc., Consolidated Edison Inc. and Berkshire Hathaway Inc., as well as complicate California’s ambitious plans to reduce carbon emissions to combat climate change.

California Gov. Gavin Newsom has urged PG&E not to shed its clean-power contracts despite its financial difficulties.

Now the reader's comments:

This improves the chance that the phase-out of the production and investment tax credits may continue into the 2020's (after 30 years of insane stupidity that includes $100's of billions of wasted tax dollars). It will be fun watching California insist on maintaining it's 100% renewable target while destroying the economic incentives. 

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Connecticut 

From the AP. To be filed under, "I did not see this coming."

The headline: United Technologies' departure is another blow to Connecticut.

An alternate headline: The Finger Pointing Has Already Begun.

From the linked article:

Announcing a merger that will see United Technologies Corp. move its headquarters to the Boston area from the state it has called home for nine decades, the chief executive offered assurances Monday that the new company will have a presence in Connecticut "for years to come."

But the symbolism of the move cut deeply in Connecticut, a state that is sensitive about its reputation as a place to do business following the departure of other companies including General Electric, which relocated from Fairfield to Boston.

Finger-pointing began at the Statehouse soon after Farmington-based UTC said Sunday that it would merge with Raytheon Co., based in Waltham, Massachusetts, to create a massive aerospace and defense company named Raytheon Technologies Corp.