One simple line in the recent Energy Policy Act sets the stage for broader geographical ownership by current utilities and easier ownership from outside industries. Readers know very well that one...
CFOs Speak Out: Looking Beyond Power
Chief financial officers discuss new strategies and the possibility of further convergence inside and outside the energy industry.
the CFO of PPL tells how they have been successful in their international operations, which provide up to 25 percent of the company's earnings. Furthermore, Progress Energy's CFO explains how his company's gas investment continues to pay dividends. We hope you enjoy this year's CFO forum.
“Making Convergence Work ,” Warren L. Robinson , Executive VP and CFO, MDU Resources : "In the 1920s we discovered some oil and gas. ... In the mid-1980s, we really broke it out and started to develop oil and gas fields outside our region."
“Utilities: Not Interested ,” Stephen I. Chazen , Senior Executive VP and CFO, Occidental Petroleum : "I think the skills of a utility management are different than the skills of an oil management… I don't think those are related industries. I don't think the skill of selling electricity to someone's house is really the same as the skill of an oil company."
“Growing Overseas ,” John R. Biggar , Executive VP and CFO, PPL Corp .: "We are satisfied with the level of investment in international properties, which are essentially all electricity distribution businesses."
“Enter the Mega Utility ,” Geoffrey S. Chatas , Executive VP and CFO, Progress Energy : "[We are] focusing on running efficient utilities in growing states that have favorable regulatory environments so that you have the opportunity to earn that kind of 12 to 13 percent return on equity on the utility business."
“Playing LNG for All It's Worth ,” Neal E. Schmale , Executive VP and CFO, Sempra Energy : "Make sure you manage the risk. ... We're very careful in that area. ... We're not building the LNG plants until we have the output contracted for."