U.S. Power Companies Say They Will Continue Shift to Renewables Regardless of What Trump Wants

first_img FacebookTwitterLinkedInEmailPrint分享Wall Street Journal:Some of the biggest U.S. power companies said they are pushing ahead with investments in renewable and gas-fired electricity and are including climate change as a part of their corporate strategy, regardless of the Trump administration’s plans to roll back Obama-era environmental rules.Some sizable power companies, such as American Electric Power Co., NRG Energy Inc. and Southern Co., said Tuesday the move will have only a marginal effect on their planning. Cheap fuel, improving technology and consumer demand are creating a market for cleaner energy that is largely unaffected by what is happening in Washington.The Trump administration argues that the Obama rules weren’t allowed under the Clean Air Act—an issue that will likely be argued in court for years. A generational shift in the energy industry was happening long before that tug of war in federal government. Power plants cut their carbon dioxide by 25% between 2005 and 2016, a trend that is likely to continue, according to the Edison Electric Institute, an industry group.Cheap natural gas from the shale-drilling boom and more-efficient power plants have run coal-burning rivals out of business. Advancements in wind and solar power, with help from subsidies, have cut emissions, too. And confronted with the risks of climate change and how governments might deal with it, power companies now expect the cost of carbon emissions to rise and plan on ways to reduce them.“This will not change our planning process,” a spokesman at Southern Co. said of the EPA’s move on Tuesday.More: ($) Power Companies to Stick With Plans Despite EPA’s Emissions Repeal: Cheap fuel, technology and consumer preferences are driving demand for cleaner energy U.S. Power Companies Say They Will Continue Shift to Renewables Regardless of What Trump Wantslast_img read more

All roads lead to Lincoln

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The College of Law Pension and Assurance Scheme completes £28m buyin

first_imgThe College of Law Pension and Assurance Scheme has completed a £28 million pension buy-in transaction with Aviva.The College of Law Pension and Assurance Scheme is administered by the Legal Education Foundation and has 760 members. The transaction covers employees who have been retired since 2012. This means that the majority of current pensioners who are members of the scheme are now covered by bulk annuities.The payroll for pensioners covered by the buy-in will also be moved to Aviva in order to enhance the efficiency of scheme administration.The £28 million transaction, which is designed to reduce risk within the scheme, is the pension scheme’s fourth buy-in to date. The College of Law Pension and Assurance Scheme has completed two previous buy-ins with Aviva, with the last transaction taking place in 2012.Trustees of the scheme plan to achieve a full scheme buy-out in due course.Actuarial, consulting and investment organisation Hymans Robertson and law firm Linklaters advised The College of Law Pension and Assurance Scheme on the buy-in.The transaction was conducted in alignment with a review of the scheme’s investment strategy, which looked to reduce the level of investment risk at the same time as completing the buy-in. This was achieved by moving some of the scheme’s return seeking assets into the low risk portfolio.Alan Humphreys, scheme trustee for the College of Law Pension and Assurance Scheme, said: “The trustees are delighted to have completed their fourth pensioner buy-in, taking another important step to materially reduce risk for the members of the scheme.”last_img read more