Utilities gain on $13 bln White House funding to modernize power grids

NiSource

18/11/2022 15:41

** Shares of U.S. utility companies gain after the White
House announces it is soliciting grant applications for $13 bln
in new financing under the bipartisan infrastructure bill for
expansion and modernization of U.S. electric grid  urn:newsml:reuters.com:*:nL1N32E13X  
   
    ** NextEra Energy Inc  NEE.N , PG&E Corp  PCG.N , Sempra
Energy  SRE.N  and American Electric Power Company  AEP.O  climb
between 1% and 2%
    ** Southern Co  SO.N  and Dominion Energy Inc  D.N  gain
0.8% and 0.9%, respectively
    ** Edison International  EIX.N , Public Service Enterprise
Group  PEG.N , National Grid  NGG.N , Constellation Energy
 CEG.O , Consolidated Edison  ED.N , DTE Energy  DTE.N  and CMS
Energy  CMS.N  add 1.4%-2.1%
    ** An estimated 70% of the nation's transmission lines are
over 25 years old, and this aging infrastructure makes American
communities, critical infrastructure and economic interests
vulnerable, the White House says
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))