On Wednesday, Shares of Exelon Corporation (NYSE:EXC), lost -0.07% to $29.94.
Exelon Corporation declared that all of the Illinois nuclear plants in PJM cleared in the transition capacity auction for the 2016-17 planning year. The auction results take effect in June 2016.
This is the first of two transitional auctions that PJM is holding to supplement its preceding base capacity auctions for the 2016-17 and 2017-18 planning years with the new capacity performance product, which is designed to strengthen electric grid reliability.
“We continue to be encouraged by these auction results, which together with EPA’s Clean Power plan, start to properly value nuclear power for their reliability and low-carbon benefits,” said Chris Crane, Exelon president and CEO. “These auction results, in addition to other factors, will come into play as we analyze the current and predictable economics of each of our plants.”
The new capacity auction rules were ordered by the Federal Energy Regulatory Commission (FERC) to ensure reliability given the changing nature of the generation fleet as more intermittent renewable and gas-fired generation comes online. The reforms will result in generators investing in their power plants to ensure reliability during extreme weather events and to have sufficient fuel on hand, which will benefit customers. Exelon spends nearly $1 billion annually on its nuclear plants to add the latest technologies and keep them operating safely and reliably.
Exelon Corporation, a utility services holding company, engages in the energy generation and delivery businesses in the United States. It owns electric generating facilities, such as nuclear, fossil, and hydroelectric generation facilities, in addition to wind and solar photovoltaic facilities.
Shares of EOG Resources Inc (NYSE:EOG), inclined 2.20% to $77.69, during its last trading session.
EOG Resources, planned to present at the Barclays CEO Energy-Power Conference at 10:45 a.m. Central time (11:45 a.m. Eastern time) on Tuesday, September 8, 2015. William R. “Bill” Thomas, Chairman and Chief Executive Officer, will present on behalf of EOG. A live webcast of the presentation, in addition to accompanying slides, will be available in the Investors section of EOG’s website, www.eogresources.com. A replay of the webcast will be available until October 8, 2015.
EOG Resources, Inc. is one of the largest independent (non-integrated) crude oil and natural gas companies in the United States with proved reserves in the United States, Canada, Trinidad, the United Kingdom and China. EOG Resources, Inc. is listed on the New York Stock Exchange and is traded under the ticker symbol “EOG.”
EOG Resources, Inc., together with its auxiliaries, explores for, develops, produces, and markets crude oil and natural gas. The company’s principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and Canada, Trinidad, the United Kingdom, and China.
Finally, BioScrip Inc (NASDAQ:BIOS), ended its last trade with 2.94% gain, and closed at $2.45.
BioScrip, offered an update on the Company’s plan to enhance shareholder value, improve financial flexibility and position BioScrip as a pure play infusion services company focused on high-growth services. As formerly declared, the Company anticipates to realize $35 million – $40 million in annualized net cost savings over the next 12 months as part of its Financial Improvement Plan.
The Company offered the following update on its cost saving and financial improvement initiatives to create value:
- BioScrip has accomplished the formerly declared sale of its non-core PBM business to ProCare Pharmacy Benefit Manager Inc., a privately held pharmacy benefit manager and part of the ProCare Rx companies, for $25 million in cash. The PBM activities represented about $66 million of annual revenue. The net proceeds were used to pay down debt.
- BioScrip’s workforce reduction is on track and will be substantially complete by the end of the third quarter. As formerly declared, the reductions are predictable to generate $19 million in total savings. The reductions are in specific areas, counting corporate infrastructure and are not predictable to influence BioScrip’s ability to provide quality care and service to patients.
- Supply chain related activities are being negotiated and are predictable to generate $3 million in annual savings by the startning of 2016, contributing to operating improvement.
- Corporate and field operating improvement programs have been initiated and are estimated to deliver cost savings of $10 million annually and contribute to operating improvements startning in January 2016.
BioScrip, Inc. provides home infusion and other home care services, and pharmacy benefit administration (PBM) services in the United States. It operates in two segments, Infusion Services and PBM Services.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
