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NextEra's considers nuclear restart in Iowa, while renewable deals swell

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NextEra's considers nuclear restart in Iowa, while renewable deals swell


By Laila Kearney, Seher Dareen

(Reuters) -NextEra Energy is conducting engineering studies and speaking with federal regulators about the possible restart of its Duane Arnold nuclear power plant in Iowa, company executives said on Wednesday.

Growing power demand from AI data centers, and the electrification of buildings and transportation, has propelled the country’s electric utility industry and led to unprecedented power contracts.

NextEra is assessing the condition of its Duane Arnold nuclear power plant in Iowa and speaking with regulators with the Nuclear Regulatory Commission, NextEra CEO John Ketchum said on a company earnings call.

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“We’re very interested in recommissioning the plant,” said Ketchum, adding that the site uses a boiling water reactor, which can be simpler than other systems to revive.

Two U.S. nuclear power plants, including Three Mile Island Pennsylvania, are currently in the process of being restarted. A fully shut nuclear plant has never been revived.

“That gives us optimism of being able to do this at an attractive price and without as much risk,” Ketchum said.

NextEra, which includes the world’s largest renewables company and one of the biggest U.S. regulated electric utilities, has also entered into “incremental framework agreements” with Fortune-50 to develop 10.3 gigawatts renewable energy and storage.

The company’s third-quarter profit beat Wall Street estimates on Wednesday, helped by strength in its renewables unit. The S&P index tracking utilities jumped 18.4% in the third quarter, compared to a 5.5% rise in the S&P 500.

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NextEra’s renewables business, NextEra Energy Resources, projected a backlog of 24 gigawatts (GW) in the third quarter, up from nearly 22.6 GW in the second quarter.

The company’s regulated utilities business, Florida Power & Light, reported net income of $1.29 billion, compared with $1.18 billion a year earlier.

NextEra’s overall quarterly revenue of $7.57 billion, however, missed estimates of around $8.10 billion, according to analysts’ estimates compiled by LSEG.

The company, which is based in Florida, maintained its 2024 adjusted earnings-per-share forecast. Executives said they expect EPS in 2025 to be in a range of $3.45 to $3.70.

On an adjusted basis, NextEra earned $1.03 per share in the quarter, compared with estimate of 98 cents, according to data compiled by LSEG.

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NextEra Energy Partners, a unit of the company created to acquire, manage and own contracted energy projects, said it would repower an additional 225 megawatts (MW) of wind facilities, bringing the total backlog of wind repowerings to around 1.6 GW through 2026.

However, the unit reported a loss of $40 million due to higher interest payments and a loss on some continuing operations, compared to year-ago net income of $53 million. Its shares were down 11.5% in early morning trade.

(Reporting by Seher Dareen in Bengaluru and Laila Kearney in New York; Editing by Pooja Desai and Maju Samuel and Franklin Paul)



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Iowa

Cincinnati and Iowa State both looking to snap out of funks when they square off

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Cincinnati and Iowa State both looking to snap out of funks when they square off


AMES, Iowa (AP) – Cincinnati (5-4, 3-3) and Iowa State (7-2, 4-2) go into their game at Jack Trice Stadium on Saturday coming off two straight losses.

Cincinnati needs to win one of its last three games to achieve bowl-eligibility for the first time under second-year coach Scott Satterfield. Iowa State will try to give ninth-year coach Matt Campbell an eighth win for the fourth time. The Cyclones would be all but out of the Big 12 race with a third straight loss.

GAME INFO

  • WHERE: Jack Trice Stadium, Ames, Iowa
  • WHEN: 7 p.m., Saturday, Nov. 16
  • WATCH: FOX
  • LISTEN: Cyclone Radio Network
  • VEGAS ODDS: Cincinnati +7.5, O/U 52.5

KEY MATCHUP

Iowa State defense vs. Cincinnati offense. The Cyclones have been the standard bearer of Big 12 defenses since 2020, but there’s been slippage this year. They gave up a season-high 532 yards in a loss to Kansas last week, and they have especially struggled against the run. Corey Kiner and Evan Pryor lead Cincinnati’s solid run game, and Brendan Sorsby is the Big 12’s third-highest rated passer.

PLAYERS TO WATCH

Cincinnati: Sorsby will try to shake off a tough outing in last week’s 31-24 home loss to West Virginia. He had three turnovers, including an interception returned for a touchdown. Sorsby challenges defenses. He’s throwing for just under 270 yards per game and he’s a willing runner.

Iowa State: WR Jaylin Noel is on track for a 1,000-yard season, and his average of 99.2 per game ranks second in the Big 12. He had eight catches for a career-high 167 yards and two touchdowns in last week’s 45-36 loss to Kansas.

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FACTS & FIGURES

An Iowa State victory would give Campbell a fourth season with at least eight wins. Pryor has four touchdowns of 50-plus yards, three of them having gone for at least 60, tied for most in the Big 12. Three of his long touchdowns have come on the first offensive play of a drive. Bearcats LB Jared Bartlett is second in the Big 12 with 6.5 sacks. The Cyclones won the teams’ only previous meeting 30-10 in Cincinnati last year, with Jayden Higgins catching six passes for 172 yards. ISU RB Carson Hansen has six touchdowns in his last four games. ISU DB Ta’Shawn James made a career-high 10 tackles against Kansas. He had entered the game with just 12 tackles in two years.



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One arrested, Univ. of Iowa fraternity suspended after alleged hazing incident

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One arrested, Univ. of Iowa fraternity suspended after alleged hazing incident


IOWA CITY, Iowa (KCRG) – One person has been arrested and a University of Iowa fraternity chapter has been suspended as authorities investigate a potential hazing incident, university leaders said Friday.

It comes after first responders were called to the Alpha Delta Phi fraternity house early Friday morning for a fire alarm, and they found several dozen pledges blindfolded in the basement, according to a release from the university.

One person has been arrested and charged with interference with official acts. That person is not a student and does not live at the house where the incident took place. Their name has not been released at this time. University leaders did not say how they were involved in the incident.

The University of Iowa’s Office of Student Accountability has suspended the operations of Alpha Delta Phi, pending the outcome of the investigation. The fraternity’s national chapter has also suspended the charter until further notice.

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The university released a statement saying it is committed to protecting the health and safety of its students and will address any behavior that puts student safety at risk.

The university has also reached out to the students involved in the incident to offer counseling resources.

The investigation into the incident remains ongoing.



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Iowa Supreme Court to decide if COVID-19 wrongful death lawsuits against Tyson can continue

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Iowa Supreme Court to decide if COVID-19 wrongful death lawsuits against Tyson can continue


The Iowa Supreme Court is set to decide if the families of four people who worked at the Tyson Foods meatpacking plant in Waterloo and died of COVID-19 in 2020 can move forward with their wrongful death lawsuits against company leaders.

The families of Sedika Buljic, Reberiano Garcia Leno, Jose Ayala and Isidro Fernandez allege they died of complications related to COVID-19 in the spring of 2020 because Tyson executives and supervisors failed to prevent the spread of the virus, lied to workers about the outbreak and ordered sick employees to continue working.

The Black Hawk County District Court dismissed their cases against Tyson last year. A lawyer for the plaintiffs asked the Iowa Supreme Court during oral arguments Thursday to reverse that lower court ruling and let the cases proceed.

Attorney David Yoshimura, representing some of the Waterloo Tyson plant supervisors named in the lawsuits, said these are “straightforward workplace injury claims” that belong in the workers’ compensation system, not in the courts.

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“…Which is why the district court dismissed them. Nevertheless, the plaintiff here has engaged in some creative pleading of their own and tried to, through some gamesmanship, keep these claims in the courts,” he said.

But plaintiffs’ attorney G. Bryan Ulmer III said Tyson leaders’ actions satisfy an exception to that law.

The end result was the largest workplace outbreak of COVID-19 in the entire country

Attorney G. Bryan Ulmer III

He said Tyson executives and supervisors’ fraudulent misrepresentations and gross negligence caused the four employees to die of COVID-19. He said Tyson leaders told employees the virus wasn’t spreading at the plant and told workers with COVID symptoms to keep going to work.

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“All the while, supervisors were placing bets on how many positive COVID-19 cases would result from the outbreak,” Ulmer said. “The end result was the largest workplace outbreak of COVID-19 in the entire country.”

The COVID-19 outbreak at the Tyson facility in Waterloo

The Tyson plant in Waterloo was in the spotlight in April of 2020, when local health officials and some state lawmakers were urging the company to temporarily shut down the pork plant to help stop the spread of the virus.

The workers’ families allege that by the beginning of April, Tyson supervisors knew that COVID-19 “was rampantly spreading” at the Waterloo plant. Some were part of a betting pool “to wager how many workers would test positive for COVID-19.” Tyson later fired seven managers who were involved.

The plaintiffs said that Tyson executives and supervisors “forced” sick workers to work at the Waterloo plant unless they got a formal positive COVID test result (which could take several days at that time), refused to provide proper masks and allowed employees to work without masks.

“A box of rags and frayed fabric was provided at the Waterloo facility for workers to use as ‘optional’ face coverings,” the plaintiffs alleged in a court filing.

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Tyson had already closed its plant in Columbus Junction because of a COVID-19 outbreak, and, according to the lawsuits, was already taking virus precautions at its plants in China for months.

The Waterloo plant was closed on April 23, 2020, after the virus had been spreading there for weeks.

Local health officials reported in early May 2020 that more than 1,000 employees of the Tyson pork plant had tested positive for COVID-19.

The lawsuits

The families of the four Waterloo workers who died filed two separate lawsuits in the summer of 2020. They were combined for some legal proceedings.

At one point, the cases were sent to the federal court system.

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Tyson argued that it was acting under the direction of the U.S. Department of Agriculture to prevent a food shortage during the pandemic and that federal courts should hear these cases instead of state courts. The U.S. Supreme Court refused to review the case and sent it back to the state court system.

The Iowa Supreme Court will likely decide by the end of June 2025 whether the cases can move forward.

Tyson Fresh Meats settled lawsuits earlier this year with the estates of three people who worked at its pork plant in Storm Lake and died of COVID-19.





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