Energy quick reads

** Sunoco LP and NuStar Energy L.P. (NYSE: NS) (“NuStar”) announced that the parties have entered into a definitive agreement whereby Sunoco will acquire NuStar in an all-equity transaction valued at approximately $7.3 billion, including assumed debt.

** A major U.S. energy developer, Minneapolis-based Xcel Energy, has initiated the process of shuttering two major coal-fired power plants serving more than a million homes in the upper Midwest, helping the company meet its corporate climate commitments.

** Aldi shoppers will no longer be able to purchase plastic shopping bags at more than 2,300 stores across the United States. It’s the first major U.S. retailer to eliminate plastic shopping bags.

** The Senate Environment and Public Works Committee will hold an oversight hearing on Wednesday on implementation of amendments to the Toxic Substances Control Act. Biden administration official Michal Freedhoffis slated to testify.

** The Biden administration is taking a broad approach to tax credits for electric vehicle (EV) chargers — interpreting the law so credits can apply to areas where most Americans live.

** The Tennessee Valley Authority sets a weekend record for peak winter power demand during frigid weather over the weekend, but uses energy conservation notices to avoid major outages.

** More than 12,000 Duke Energy customers in North Carolina who lost power in frigid conditions after crews damaged a substation may file a complaint about the incident with state officials, but will have to file in court to pursue monetary damages.


** China’s exports of natural graphite, a material used in electric vehicle batteries, plummeted in December after Beijing imposed controls at the start of the month, tightening its grip on the supply of minerals vital to advanced manufacturing.

** Estonian environmentalists recently celebrated a win after the country’s supreme court ordered state energy company Enefit to halt construction of a shale oil facility.

** Carlos Tavares, CEO of Chrysler parent company Stellantis, cautioned against a “race to the bottom” among EV manufacturers after competitor Ford announced it would cut back production and lay off workers making its F-150 Lightning electric truck.