The Next M&A Wave: If mergers are once again a potential strategy for accomplishing growth objectives, the previous round of transactions offer several lessons.
Tom Flaherty and Bill Kemp
The industry stands at an inflection point regarding consolidation. But this time, it is less likely to retreat from more and larger combinations. What’s driving renewed interest in mergers and acquisitions?
The Environmental Protection Agency reviews how the multi-pollutant control concept is to work.
Misha Adamantiades, Linda Chappell, and Sam Napolitano
Currently, 132 areas do not meet the new National Ambient Air Quality Standards for fine particles or ozone, affecting some 160 million people, or 57 percent of the U.S. population. What efforts are under way by the EPA to bring these areas into compliance?
A monthly billing cycle results in exposures of up to 60 days’ settlement. Participant default is likely, and the potential loss from such an event is significant. Spot-market clearing can solve these problems.
FERC Chairman Pat Wood III said he would leave the commission at the conclusion of his term of office June 30. Wood is the longest-serving appointee of George W. Bush, who as governor of Texas in 1995 appointed him to the Texas PUC. And others...
Transmission congestion affects both the cost and the efficiency of the power grid. Global Energy's Market Analytics LMP along with PowerWorld Corp.'s OPF Simulator and Energy Visual's graphical interface solution provides a richly textured visual representation of Global Energy's forecast of transmission congestion in California for Aug. 16, 2006.
Exelon Chairman, President, and CEO John W. Rowe, on the proposed merger that would create the largest utility in the United States.
Exelon CEO John W. Rowe would head the largest utility in the industry, if a proposed merger with PSEG goes through. By creating a $40 billion market-capitalization utility, the newly formed company would be 60 percent larger than its nearest market-cap peer, and would have total assets of approximately $79 billion, with almost $25 billion in annual revenues and $3.2 billion in annual net income.
Electric M&A: The merger with PSE&G may herald a new industry structure, squarely at odds with regional markets.
Bruce W. Radford
The marriage between Exelon and PSEG would create the largest electric utility in the United States. The policy implications could loom even larger, however. Standing at risk is nothing less than FERC’s entire regulatory regime for approval of mergers and market-based rates.
A review of the ongoing evolution of market design.
While it appears that capacity markets are here to stay, there is little consensus regarding the best design. Markets in the United States are in a state of flux, with debate raging over many different capacity market pricing schemes. While the winning recipe has yet to be selected, it is likely that participants in certain markets will witness significant changes.
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