Consumer prices in Alberta and the Calgary region in the 12 months to January rose at a higher rate than the Canadian average, reported Statistics Canada. The federal agency said the annual rate of inflation in the province was 2.9 per cent while in Canada it was 2.5 per cent. In the Calgary census metropolitan area, it was 2.8 per cent. Nationally, gasoline prices increased 6.8 per cent in January. The electricity index rose 7.3 per cent, with notable increases recorded in Alberta and Nova Scotia. Prices for fuel oil went up 17.1 per cent while natural gas prices fell 0.7 per cent, said the federal agency.
Sempra Energy’s San Diego Gas & Electric has entered into two long-term contracts for 300 MW of renewable energy, including 200 MW of solar energy from projects under development by Spain’s Iberdrola SA and 8minutenergy Renewables LLC.. With the purchase, the company has now substantially expanded its portfolio of emissions free power, while increasing California solar installation power. The first of the new agreements recently signed by the company is a 20-year contract to purchase 100 MW of energy from a 189MW power facility that is currently
under construction in Tehachapi, close to Rasamond, California. The project is expected to be completed in late 2012 and consist of 126 wind turbines that will harness 1.5 MW of power.
Duke Energy Corp.’s fourth quarter earnings fell 33% as mild temperatures reduced the demand for electricity while tumultuous weather increased the costs of storm repairs. Duke said it earned $288 million, or 22 cents per share, in the fourth quarter, down from $427 million, or 32 cents per share, in the last quarter of 2010. Duke’s earnings, adjusted to remove the effects of special items, rose 14 percent to 24 cents
per share. Revenue was $3.37 billion, down from $3.46 billion.