In a little over a year, the electric utility industry has seen six significant mergers.1 This trend toward consolidation most likely will increase as the industry becomes more competitive.
some individual units have sold for less than book value, that has not occurred for any single group of stations. For example, Pacific Gas & Electric sold its Morro Bay, Moss Landing and Oakland stations as a group at more than their combined book value, but Morro Bay and Oakland units were each priced at less than their individual book values.
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