Press Mention Palm Beach Post July 20, 2004
SACE Referenced
Conservation steps for state's big utilities approved
In this mention
The Florida Public Service Commission approved mandatory five-year energy conservation goals for the state's major utilities under the Florida Energy Efficiency and Conservation Act. The Southern Alliance for Clean Energy and the Alliance to Save Energy submitted a report questioning some of the measurements used to evaluate whether utilities' conservation goals are adequate. The conservation programs aim to reduce the need for new power plants and associated environmental emissions.
Original clipping
PDF didn't open? Open it in a new tab →
Full transcript
Conservation steps for state's big utilities approved
Palm Beach Post Staff Reports
Wednesday, July 21, 2004
The state Public Service Commission on Tuesday approved mandatory energy conservation measures for the state's major utilities.
The five-year goals, which are required under the Florida Energy Efficiency and Conservation Act, are a blueprint for the utilities to set up conservation programs. The ultimate purpose is to avoid building more power plants, which are costly and release damaging emissions into the environment.
One example is the Business On-Call program of Florida Power & Light Co., the utility arm of Juno Beach-based FPL Group Inc. (NYSE: FPL, $64.12).
Under the program, FPL temporarily stops running a company's air-conditioning system for brief periods during the summer and credits the company's monthly electric bill. During the shut-offs, the company uses a generator to run the air conditioning.
The Southern Alliance for Clean Energy, as well as the Washington-based Alliance to Save Energy, gave the PSC a report that called into question some of the measurements used to determine whether a utility's conservation goals are sufficient.
Legal victory increases
Ocwen's reported profit
Ocwen Federal Bank and Ocwen Technology Xchange Inc., both subsidiaries of Ocwen Financial Corp. (NYSE: OCN, $9.69), said Tuesday that a federal judge in Denver has tossed out a $9.3 million jury verdict in a trade secrets case brought by a former real estate valuation vendor, Cartel Asset Management.
In overturning the jury's July 9 verdict and ordering a new trial on damages, U.S. District Judge Phillip S. Figa wrote that "assumptions in Cartel's damages testimony and in the evidence generally render its damages case of 'junk' quality." The order also vacated the punitive damages portion of the jury's verdict.
As a result, Ocwen said, it has increased its profit for the second quarter to $9.1 million, or 13 cents a share, compared with the profit of $800,000, or 1 cent a share, the company reported July 13.
For the year, Ocwen now is reporting profit of $15.9 million, or 23 cents a share, compared with $7.5 million, or 11 cents a share, as reported July 13.
Home Dynamics Corporation
gets state tourism grant
The Palm Beach County Convention and Visitors Bureau received a $20,000 state grant Tuesday to promote tourism.
Palm Beach County was given the money to attract minority conventions.
The Greater Fort Lauderdale Convention and Visitors Bureau received $15,000 for the same purpose.
The awards were two of 41 given to agencies across Florida.
The grants, totaling more than $146,000, are for the 2004-05 budget year, which began July 1.