Energy In-depth: Average U.S. family saves $500 due to efficiency standards

Energy In-depth is a roundup of energy-related news.

AVERAGE U.S. FAMILY SAVES $500 ON UTILITY BILL DUE TO ENERGY EFFICIENCY STANDARDS, ARKANSAS RANKS 42nd
The average American family saved nearly $500 on utility bills in 2015 as a direct result of existing efficiency standards for appliances and lighting, according to a new report Thursday (Feb. 16) by the Appliance Standards Awareness Project (ASAP) and the American Council for an Energy-Efficient Economy (ACEEE).

The report details average household savings for all 50 states and the nation’s capital in four categories: household utility bill savings; electricity savings; natural gas and oil savings; and water savings. The top 10 states for each are ranked. Consumers in Hawaii saved the most on overall household utility bills – a whopping $945.

Average household savings by state ranged from 11-27% of total consumer utility bills, with a national average savings of 16%. Connecticut, Massachusetts, Rhode Island and Alaska round out the top five with savings that range from $648 to $608. States appearing at the bottom of the overall utility bill savings list include: Washington, North Dakota, Idaho, Montana and West Virginia. Savings in 2015 for the bottom ten states, which include Arkansas at 42nd, ranged from $360-$405.

To view the full report, click here.

PLAINS ALL AMERICAN BUYS CRUDE OIL PIPELINE IN WEST TEXAS FOR $133 MILLION

Plains All American Pipeline L.P. and Noble Midstream Partners LP on Monday (Feb. 13) announced that they have entered into definitive agreements to form a 50/50 joint venture deal to acquire Advantage Pipeline LLC, which owns a 70-mile, 16-inch crude oil pipeline located in the southern Delaware Basin in west Texas. The majority of PAA’s 50% stake in the $133 million deal is expected to be paid in PAA units issued to certain of the sellers at closing. The acquisition is subject to customary closing conditions, including normal regulatory approvals.

The Advantage Pipeline has a capacity of 150,000 barrels per day originating in eastern Reeves County, Texas running through Pecos and Ward Counties, to Crane County, Texas. The Advantage Pipeline also includes approximately 490,000 barrels of combined crude storage at three separate trucking stations. Plains All American is also a joint venture partner with Valero Corp. in the Diamond Pipeline project, a 440-mile crude oil pipeline across Arkansas, running from the company’s terminal in Cushing, Okla., to the Valero Corp.’s 195,000 barrels per day refinery in Memphis.

FINRA ORDERS TEXAS BROKER TO PAY NEARLY $25 MILLION IN RESTITUTION FOR FRAUDULENT OIL AND GAS VENTURES
The Financial Industry Regulatory Authority (FINRA) announced on Tuesday (Feb. 14) that a hearing panel has expelled Plano, Texas-based broker-dealer Red River Securities LLC, barred its CEO Brian Keith Hardwick, and ordered the firm and Hardwick to jointly and severally pay $24.6 million in restitution to customers for fraudulent sales in five oil and gas joint ventures. The hearing panel found that the respondents engaged in a pattern of misrepresentations and omissions.