On Tuesday, Shares of General Electric Company (NYSE:GE), subtract -0.42% and closed at $29.50 in the last trading session. The last trading range of the stock ranges between $29.45 and $29.75. GE and longtime customer Southern California Edison (SCE) recently declared a plan to install the world’s first battery storage and gas turbine hybrid. The two-project solution first calls for installation of a battery energy storage system from Current, powered by GE, followed by upgrades to a GE LM6000 gas turbine to integrate the two systems. The LM6000 Hybrid EGT, which is planned to be deployed at two SCE sites in the coming months, was developed in response to changing regulations and grid requirements in the wake of California’s Aliso Canyon energy crisis earlier this year and will eventually support increasing renewable energy capacity on the California grid.
“GE’s new LM6000 Hybrid EGT product fits well with SCE’s objective of providing cost–effective, innovative solutions that enhance grid reliability, flexibility, and fast response for our customers,” said Phil Herrington, Vice President of Generation for Southern California Edison.
The solution, which will qualify for California’s Independent System Operator’s tariff for contingency reserve, answers a critical need for Southern California, where regulations on natural gas usage and storage are changing in the wake of the state’s Aliso Canyon energy crisis earlier this year. GE’s Power Services and Current businesses worked to develop the joint solution in a competitive offer in partnershipwith Wellhead Power Solutions, LLC.
Southwestern Energy Company (NYSE:SWN), subtract -1.15% and closed at $13.74 in the last trading session. The last trading range of the stock ranges between $13.60 and $14.05. The company’s Market capitalization is $6.81 Billion with the total Outstanding Shares of 493.46 million. Southwestern Energy Company, an independent natural gas and oil company, explores for, develops, and produces natural gas and oil mainly in the United States. It operates through two segments, Exploration and Production and Midstream Services. The company focuses on the Marcellus Shale, an unconventional natural gas reservoir covering about 270,335 net acres in northeast Pennsylvania; and the Fayetteville Shale, an unconventional natural gas reservoir covering about 957,641 net acres in Arkansas. It also engages in the exploration and production activities in Colorado and Louisiana. In addition, the company is involved in gathering, marketing, and transporting natural gas, and oil and natural gas liquids. As of December 31, 2015, it had a pipeline of 2,044 miles in Arkansas and 16 miles in Louisiana in its gathering systems.
General Motors Company (NYSE:GM), gained 0.37% and closed at $32.17 in the last trading session. The last trading range of the stock ranges between $32.04 and $32.47. During the 52-week trading session the minimum price at which share price traded, registered at $26.69 and reached to max level of $36.88. General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. The company operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. It markets its vehicles mainly under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, Vauxhall, Baojun, Jiefang, and Wuling brand names. The company also sells cars and trucks to dealers for consumer retail sales, in addition to to fleet customers, counting daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, it offers connected safety, security and mobility solutions, and information technology services. The company, through its partner, General Motors Financial Company, Inc., provides automotive financing services.