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TXU Sheds Coal Plan, Charts Nuclear Path

TXU Corp., which made news when it scrapped plans to build 11 coal-fired power plants in Texas, is now turning its attention to nuclear instead. It’s looking to build the biggest nuclear power plants in the U.S. in Texas. NRG Energy Inc., Exelon Corp. and Amarillo Power are also eyeing Texas. Texas could end up having more reactors than any other state with 10 years. This would make Texas a proving ground for what many see as a nuclear renaissance. Because utilities in Texas no longer have monopolies in their territories, customers can switch suppliers at will. Therefore, nuclear plants have to make economic sense. TXU officials hope the huge reactors they’re planning will achieve economies of scale and thus, cheap electric prices. The reactors would be 1,700 megawatts each, 50% larger than existing plants. TXU says it wants to build between two and five new plants. That might change however, when its $32 billion acquisition goes through – when the company is taken private by Kolhberg Kravis Roberts & Co. and TPG, formerly Texas Pacific Group.

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First Solar Hits High, Could Go Higher

First Solar (NasdaqGM: FSLR) stock could rise by as much as $2 today, as investors push the stock past its all time high because of positive ratings by Bank of America. Analysts raised the price target from $72 to $75 saying it has the best fundamentals in the solar industry. Bank of America expects First Solar to deliver on its announced thin film capacity because it does not depend on polysilicon. FSLR’s capacity should increase from 75 MW in FY06 to 275 MW in FY08. First Solar is positioned to produce thin film solar at competitive grid prices of $1.00-1.25/watt by 2010-2012, with gross margins of 35-40% and operating margins of 25%. Its production costs are expected to decline from $1.25/watt in 4Q06 to $0.60-0.80/watt in 2010-2012 from greater manufacturing efficiencies and lower labor costs.

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Are American Workers Going Green? Still Not Yet

Do people prefer to work for a “green” company? Despite all the attention to environmental issues, only one third say they would be more inclined to do so, according to a nationwide Harris Poll survey. 52% of employed adults think their company should do more to be environmentally responsible. 22% say their company already does enough or too much, while 26% are just not sure. Although 69% of employees know their company has an environmental policy, men are more likely than their female counterparts to say they know what the policy actually is (35% men vs. 28% women). “We’ve seen an increase recently in the number of job seekers who want to work for ‘green’ companies, or companies working in industries that are helpful to the environment,” says Bernadette Kenny, chief career officer, Adecco USA. What can be helpful for companies in recruiting and retaining green-minded employees are to communicate its environmental policies and create an environmentally conscious culture by instituting some simple and basic programs.” The USA Workplace Insights Survey was commissioned by Adecco (NYSE:ADO), a worldwide recruiter. Website: http://www.adeccousa.com     

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USDA to Ban Cloned Foods From Organics

The U.S. Department of Agriculture’s (USDA) National Organic Standards Board (NOSB) has voted that the progeny of cloned animals cannot be labeled organic. A USDA spokesperson said they had tabled their cloning recommendation for now. The NOSB voted 12-0, with one abstention and two members absent, to prohibit progeny of clones in organic production. Just last month, the NOSB ruled out cloning as a livestock production practice under federal organic regulations, but said progeny of animals derived from clones could be considered organic. Regulators recognize that cloning as a production method and animal clones are incompatible with the Organic Foods Production Act (OFPA) and are prohibited under the NOP regulations. The Food and Drug Administration is accepting public comment on its approval in a draft risk assessment of cloning as a production technique in agriculture. The FDA assessment said that clones are “virtually indistinguishable” from normal progeny and could enter the food supply. The outcry from the organic dairy and foods community has been deafening. Companies lined up to denounce clones in organic production – from Straus Organic Creamery to Dean Foods. Mounting evidence against organic cloning was highlighted by a legal analysis laying out why the existing statute and […]

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