Cleanup liability stalls talks over potential sale of Navajo coal plant

first_img FacebookTwitterLinkedInEmailPrint分享Arizona Republic:Negotiations for a Navajo Nation energy company to take over the troubled coal plant near Page have hit a major impasse over who could be responsible for the eventual cost of cleanup.The owners of the Navajo Generating Station, which is on tribal land and fed by a mine on Navajo and Hopi land, are planning to close the power plant this year.The Navajo Transitional Energy Company, or NTEC, which is owned by the tribe, has been negotiating to take over the plant, which is the largest coal-fired generator in the West. But a Feb. 25 letter from NTEC to the power plant owners, which include Salt River Project and Arizona Public Service Co., indicates the deal has stalled because the parties cannot agree over the long-term liability for the plant.The parties met Wednesday and an SRP spokesman said Thursday the deal stalled. “The discussion we had with them yesterday did end at an impasse,” SRP spokesman Scott Harelson said Thursday. “We don’t see a path forward.”Because SRP and the other owners have run the plant since it opened in the 1970s, they are responsible for the majority of the cleanup, even if new owners take over the plant and run it for another decade or two.The plant’s current owners have agreed to put money in an escrow account to pay for the eventual cleanup of the plant if it is transferred to NTEC. And NTEC has agreed to a second clean-up fund as a “backstop.” NTEC has offered to issue a performance bond, and is willing to negotiate the amount, to pay any potential cleanup liability beyond what SRP is offering. But SRP wants even more: full release from any further liability, according to the letter. Harelson confirmed the negotiations ended over clean-up liabilities.More: ‘We don’t see a path forward’: Navajo coal plant negotiations hit big roadblock Cleanup liability stalls talks over potential sale of Navajo coal plantlast_img read more

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Switchback Results: American Races and Atlantic Drilling

first_imgIllustration by Wade MickleyShould the Atlantic be opened to oil drilling?Yes: 24%If it helps with giving Americans jobs and keeping our gas prices lower in the USA, then I don’t see a problem with it. —Brian, via e-mailAs long as we continue to improve our safety and environmental records, we should drill anywhere in American territory, be it the Gulf, Atlantic, Pacific, or the Arctic. The visual presence of a drilling platform 10 miles off the coast is not a reason to obstruct drilling. It is but a dot on a very large horizon. —Photo Nomad, via e-mail No: 76%The short-term gains don’t outweigh the long term negative consequences. Earthquakes, hurricanes, and other natural disasters, as well as human error, will inevitably lead to catastrophe. And since when is oil the only source of jobs? How about the jobs that could be created from increased usage of green technologies? That’s where the potential growth is greatest. —Laura Ryan, via e-mailI wonder how the Outer Banks, Chesapeake Bay, New York Harbor, Long Island, Boston Harbor, and the Lobster fields of Maine will like an oil spill like the one in the Gulf that BP gave us. The oil companies will eventually make a mistake and the whole East Coast will feel the impact. —Dave Henderson, via emailYou want to talk jobs? Renewable energy will create tens of thousands of jobs, advance America to the forefront of renewable energy, and help save the environment. —M.P. Crosson, via e-mailWe need to take advantage of what is free. Capture the power of the sun, wind, and water. I would much rather see wind mills far out in the ocean than oil rigs. —Sheila B., via e-mailShould foreign runners be allowed to win American races?Yes: 90%As an American runner, I enjoy competing against runners from other countries. It’s nice to be able to work hard against runners from different backgrounds and heritages. It is also nice to be able to trade stories about different runs and how we may have more in common with someone from another country than we once may have realized.—William Orndorff, via e-mailA race is a competition. Runners want to compete and know who is the fastest, regardless of their background.—Bea, via e-mailThe beautiful thing about running is that there are no leagues, divisions, or major associations seen in organized sports such as football. The fact that an American can compete against an Italian, Kenyan, and Japanese runner at the same time on American soil is one of the unique aspects of running that makes it interesting. The idea is to be the fastest runner, and if that individual happens to be a Slovak, so be it.—McGinnis, via e-mailNo: 10%The Kenyans and foreign runners win all of the prize money, depriving American runners of winning races on their home soil. It’s not as exciting to see a pack of foreign runners far ahead of the rest of the American field.—Louie S., via e-maillast_img read more

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Brentwood Shooting Kills 1, Wounds Another

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 24-year-old man was shot and killed in his hometown of Brentwood and a second victim was wounded in the same shooting on Saturday night, Suffolk County police said.Officers responded to a 911 call reporting shots fired on Gibson Avenue, where they found Kenneth Evans and another man injured at 10:50 p.m., police said.Both men were taken to a local hospital, where Evans was pronounced dead and the other man, only identified as a Brentwood resident in his 20s was treated for non-life-threatening injuries.Homicide Squad detectives are continuing the investigation and ask anyone with information on the shooting to call them at 631-852-6394 or call anonymously to Crime Stoppers at 1-800-220-TIPS.last_img read more

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Local 9-year-old sells fresh produce roadside

first_img“I thought this would be a good idea for me to save money for college,” Donovan said. “We figured this would be a good homeschooling project that would teach him about science and math,” Cynthia said. At his stand, Donovan does everything himself. From setting up the stand, to setting the prices and picking all the product. TOWN OF CHENANGO (WBNG) — On his family’s farm, 9-year-old Donovan Grant is selling produce he’s been growing since march. Donovan says the reason he wanted to sell produce was to invest in his future. At his stand, Donovan sells blackberries, squash and laid eggs. Donovan plans to add pumpkins, tomatoes and corn to the stand this fall. “If they see a child run this too,” Donovan said. “They can do the same as me.”center_img “This is actually one of the first things he’s actually stuck with to fruition and he’s seeing the fruits of his labor,” Cynthia said. Cynthina Grant, Donovan’s mom, says they started growing the produce when it was decided he wasn’t going back to school this fall. Cynthia says she’s proud of her son for sticking to this project. The stand has been up since Tuesday and Donovan’s product has been selling out every day since. If Donovan could give any advice to others in the community… “He goes in the chicken coops,” Cynthia said. “He picks the chickens. That’s not my thing.” last_img read more

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Dutch security scheme puts PE, infrastructure investments on hold

first_imgIt added that it was also reconsidering the management of its 1.2% private property by Syntrus Achmea Real Estate & Finance (SAREF), explaining that it had serious difficulties disposing of its holdings. The plans to sell the assets came as the portfolio delivered a return of 5.8% last year.The private security scheme indicated that it also wanted to divest its stake in commercial mortgages, which were also managed by SAREF.The asset class produced almost 4.7%, whereas private mortgages generated 8.2% last year.The pension fund, which has 56,000 participants in total, posted a 17.9% return, with euro-denominated government bonds and equity generating 11.4% and 11% respectively.Credit and inflation-linked bonds returned 8.5% and 5.7% respectively.PPB further said that it had extended its contract for pensions provision with Syntrus only after it had negotiated “increased transparency, better quality as well as lower costs”.The scheme reported administration costs of almost €122 per participant. Costs for asset management and transactions were 0.43% and 0.07% of asset under management respectively.In 2014, it had hedge a quarter of its interest risk on liabilities through government bonds and interest swaps.Its currency hedge fully covered developed markets and 70% of the most important reserve currencies, and had contributed €11.7m to returns, it said. PPB, the €1.2bn industry-wide pension fund for the private security sector, said it halted further investments in private equity and infrastructure last year, pending the conclusions of an asset-liability management study (ALM). In its annual report, the fund suggested that ”modest economic growth as well as a declining number of buy-out transactions last year” had contributed to its decision to stop investing further.Its 2% allocation to globald private equity – both through funds and directly in companies – generated almost 18%, according to the scheme, which said that by far the largest part of its performance-related fees were paid for investments in the asset class.PPB attributed the 13.4% return on its 2.4% infrastructure portfolio largely to a revaluation of its investments.last_img read more

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Photo(s) of the day: Tension tethers ocean currents

first_imgThe FTMC Turbine demonstrator being tested in CEHIPAR basin (Photo: Seaplace) Magnomatics is in charge of the design, manufacturing and testing of a scaled demonstrator version of Magnomatics PDD generator. Under the project, the UK-based company will design the optimum magnetic gear ratio and performance of the generator to match the operating conditions of the turbine.De-risking of critical components and designs to for robust operation and performance of the generator will also be conducted by Magnomatics, which will also procure and build the power electronics and test equipment.Aside from other responsibilities, Magnomatics will also design a solution for a full-scale version of the PDD generator.The project is co-financed by the Eurostars Program, which supports projects of R&D-intensive small and medium sized enterprises, and is monitored by CDTI in Spain, together with Innovate UK in the United Kingdom. Tidal turbine destined to go further – from shore that is – being developed through international EU-backed partnership has recently been successfully tested in Spain’s capital Madrid. In order to achieve the FTMC demonstrator’s efficiency levels – said to be one third more than originally predicted – the following tasks are being developed by Spanish and UK companies through a project set to complete in spring 2019.The FTMC Turbine is a marine turbine specifically designed to harness the energy from tidal and ocean currents in those regions which, having relatively-high-speed water flows at depths with long distance to the seabed, cannot ensure an economic exploitation with fixed turbines.Short for ‘Floating tension-tethered and self-steerable Marine-current Turbine’ – the project is being developed by Spanish company Seaplace, and its UK partner Magnomatics.The design of the FTMC Turbine – being validated through prototype tests at CEHIPAR model basin – entailed delivery of several tasks by Seaplace to ensure the optimized performance, versatility and ease of maintenance, according to the company.Seaplace scope for the 32-month project covers already completed preliminary design of the platform geometry and mooring system, and marine operation analyses.Determination of the optimum location of the device, carrying out analyses and studies relating to environmental parameters, and considering the legislation in force in these locations also falls under the share of work to be conducted in the project by Seaplace.Aside from tank tests, carried out together with Magnomatics, the Spanish company will also perform design validation from test data, and adjustments for an optimized turbine design.The combination of a TLP-like or Tension Leg Platform mooring, and a robust and simple floater arranged as a nozzle, makes the concept feasible, according to Seaplace.The coupling of a turbine with a Magnomatics Pseudo Direct Drive (PDD) generator will ensure a robust and a high efficient solution that can operate in the inherently rough immersed conditions, the developers hope.Founded by the Spanish Navy – CEHIPAR is an independent public center for research, technological development and technical services. It houses a 6-meter deep still-water basin used for the FTMC Turbine testing (Photo: Seaplace)last_img read more

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Bombora Boosts Its Board of Directors

first_imgOcean energy solutions company Bombora has appointed Andrew Buglass to its board of directors. Buglass joins Bombora as the team prepares to deploy the full-scale 1.5MW mWave Pembrokeshire demonstration project later in 2020 and progressing wave park opportunities in Lanzarote and developing a global project pipeline.Richard Beresford, chairman of Bombora’s board, said: “Andrew’s commercial acumen and energy industry background will be a great addition to the business to support Bombora’s strategic growth plans. I am very pleased to announce his appointment to the board.”Andrew Buglass joins Bombora having delivered over £11 billion of investment in more than 30 countries through senior roles with investors and banks including Royal Bank of Scotland, ING Bank, PowerGen plc and Unocal Corporation. In recent years he has focused on the funding and commercialisation of newer energy technologies and solutions.Bombora believes Buglass’ proven track record, together with his ability to access a network of key stakeholders across business, government and finance, will be a major asset to the board of directors as they steer the business to commercial success.Buglass currently holds posts as a non-executive director for Umeme and Enbridge UK Holdings. Andrew also holds advisory roles for Wave Energy Scotland and the Energy and Utility Forum and has previously acted as a Special Adviser to the UK Government’s parliamentary select committee on energy investment matters.“Bombora is at a very exciting stage of development, with significant growth opportunities to deliver nearshore, offshore and integrated ocean energy solutions. Bombora will make a significant contribution to achieving global energy transition goals,” said Buglass.last_img read more

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Guilty plea in Ponzi scheme; Company settles lawsuit

first_imgBROOKVILLE, Ind. – A Brookville man has pleaded guilty to multiple felony counts related to an $8.9 million Ponzi scheme in Indiana, Ohio and Kentucky.Jerry Smith admitted guilt to five counts of criminal securities fraud and faces two to eight years on each count, according to the Brookville Democrat.Circuit Court Judge Clay Kellerman could sentence Smith between two and 40 years in prison on Wednesday, December 2.Smith is currently serving a five year prison sentence after reaching a plea agreement in federal court in 2012.Court documents show Smith and Jason Snelling ran a scheme selling unregistered investments while working as a registered representative for OneAmerica Securities.OneAmerica recently agreed to pay over $800,000 to settle a lawsuit accusing the company of not properly supervising Smith and Snelling, when they were employed there.The company stated they were not liable but settled the suit for financial reasons.Snelling has also pleaded guilty to federal and state charges. Judge Kellerman sentenced Snelling to a 40-year prison sentence.last_img read more

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Petterson-Griffith ready for World Classic Powerlifting Championships

first_img… Guyana Shore Base Inc., Space Gym on boardCARLOS Petterson-Griffith has his weights in hand and is ready for his final push as he prepares for his pioneering journey to Helsingborg, Sweden to take part in the World Classic Powerlifting Championship, which is scheduled for June 3-15.Due to the distance of the event, the 25-year-old would travel on June 8, just for his leg of the competition, which is the 93kg weight class.So far, Guyana Shore Base Inc. and Space Gym have assisted, but it will take more support to fund the trip, which would be the first for a Guyanese powerlifter. Petterson-Griffith, is no ordinary lifter. His short time in the sport has yielded incredible results. In fact, he is the current NAPF/Regional Overall Champion. That competition was held in Mexico City, Mexico last August.At that event, he squatted 300kg, bench-pressed 165kg and deadlifted 325kg which gave him a total of 790kg and the best lifter title, which also earned him a spot in the best-of-the-best Sweden tournament, billed for next month.“I started competing in powerlifting since 2016 with hard work, dedication and most of all, sacrifice. I’m not only one of the best in Guyana currently, I’m sharing a top-10 World Classic’s powerlifting rankings position with Brazilian David Coimbra … the highest rank a Guyanese ever achieved.”The fitness enthusiast is also a bodybuilder. Last July he won the bodybuilding heavyweight class at Seniors Bodybuilding Championship which was held at Park Rayne. He also competed in the Guyana Strong Man event last November and finished as runner-up to Julio Sinclair.last_img read more

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Ambode Hosts Over 125 Players from 47 Tennis Playing Nations

first_imgAHEAD OF LAGOS OPENFemi SolajaWith less than 10 days to the commencement of the annual tennis festival in Lagos, the Governor of Lagos State, Mr. Akinwumnmi Ambode is set to play host to more than 125 players from core 47 tennis playing nations across the world. The Lagos Open Tennis Championships, according to the Tournament Director, Wale Oladunjoye will get underway from 29th of this month to13th October, 2018 at the Lagos Lawn Tennis Club, Onikan.Lagos Open Tennis, which is still under the auspices of the Governor’s Cup Lagos Tennis Open is going through a transition to enhance Lagos and make the tournament better.He explained last night that Lagos State Government is still a major supporter as the Lagos Open Tennis is an international competition being staged to celebrate the sitting Governor of Lagos State since the administration of Asiwaju Bola Ahmed Tinubu to Mr. Babatunde Fashola and now the incumbent Governor, Mr. Akinwunmi Ambode.Thisday check in the breakdown as published by the International Tennis Federation (ITF) shows that 60 players have registered in the men’s event, while 65 players will compete in the women’s category. Players from notable 47 nations like USA, Brittan, Slovakia, Kenya, South Africa, Sweden, Switzerland, China, Cameroon, India, Germany, Italy, The Netherlands, Ecuador, Poland, Thailand, Egypt, Serbia, Mexico and a host of others have confirmed participation.This year’s International Tennis Federation (ITF) approved championship will see some regulars while majority of the players are debutants and are looking forward to have a feel of Lagos for the first time in their playing career.Former champion in the women event, Conny Perrin from Switzerland is staging a comeback. She is coming as the top seed with a high rank of 148 on the ATP Circuit. Perrin was a champion in the 2015, 2016 and 2017 editions.Also coming back to Lagos are Deniz Khazaniuk from Israel who is ranked 219, Valeriya Strakhova from Ukraine. She is ranked 290 and Nigerian-born Great Britain player, Tiffany Williams who is ranked 934. Williams played in the women’s doubles final in Futures 5 last year. Though she and her pairing partner, Tadeja Majeric lost, but she is coming this year with the ambition of making great impact,In the men’s event, the highest rank player, Tom Jomby from France, who won Futures 3 tournament in Abuja early this year, is coming to play in Lagos for the first time. The 27 years old player is ranked 422. Also coming are Lance-Pierre Du Toit from South Africa and Benin Republic’s Alexis Klegou.In the home front, the highest ranked Nigerian player this year is Joseph Umeh Ubon, who is on number 1577 followed by Christian Paul,1867 in the world.Others are Olisaemeka Okafor, Emmanuel Chinedu Dim, Henry Atseye, Mohammed Mohammed, Slyvester Emmanuel and Tochukwu Emmanuel Ezeh.Among the Nigerian women registered for the Lagos Open are Funke Akingbade, Osariem Airhumwunde, Aanu Aiyegbusi, Patience Onebamhon, Sarah Adegoke, Blessing Anuna and Loveth Donatus.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Akinwunmi Ambodelast_img read more

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