September 2012 -- Southern Company and Turner purchase SunEdison 30-MW PV plant; PSEG acquires 15-MW PV project from Juwi Solar; Duke issues $650 million in 30-year notes; PSE&G floats $350 million; Sempra and SoCal Gas each issue $350 million in bonds; plus bond issues from ONEOK, Regency Energy, ComEd, Tampa Electric, DTE, and Tucson Electric, totaling $4.8 billion.
(October 2011) Wind Capital group selects RMT Inc. to design and construct wind energy facility; MEMC Electronic Materials, Inc. and SunEdison acquire Fotowatio Renewable Ventures; Solar Community and Reliant Energy team up to offer financing options; KEMA selects Green Energy Corp.’s software; Leviton unveils commercial electric vehicle charging stations; plus announcements and contracts involving Science Applications International Corp., Tantalus, FirstEnergy Nuclear Operating Co. and others.
(June 2011) Duke and ATC team up to build transmission lines; AEP installs bioreactor to control selenium emissions; NextEra buys 100 MW of wind from Google; Ocean Power Technologies awards contracts for wave power array; Kansas City picks Elster; BC Hydro picks Itron; plus contracts and developments involving Tres Amigas, Ioxus, Opower and others.
The capital markets have recovered … or have they?
Michael T. Burr
One year ago, in the midst of the financial crisis, one industry—energy utilities—continued accessing the capital markets. Since then, interest rates and terms have improved dramatically, inviting utilities to refinance billions of dollars in debt that won’t mature for another year. Despite the current rosy picture, however, economic trends might cast a shadow over the industry’s capital-investment plans.
Northeast Utilities appointed Leon J. Olivier as executive vice president-chief operating officer. Calpine named Todd W. Filsinger interim chief operating officer. PJM Interconnection promoted Andrew Ott to senior vice president-markets. And others...
KKR’s leveraged buyout of TXU might be the first of many private-equity M&A deals, but traditional utility mergers also will increase.
Utility mergers and acquisitions took a turn when private-equity firms Kohlberg Kravis Roberts and Texas Pacific Group bid for TXU. Experts from Morgan Stanley, Lazard, and JP Morgan describe the M&A universe.
Utilities can transform the business while managing risk.
Victor Reyes, Cathy Newman, and Defne Dellaloglu
In a survey of 305 North American utilities, 51 percent of the respondents said they either had outsourced or were planning to outsource a customer-care function in the next two years. But despite its advantages, outsourcing remains fraught with risk—the very reason that traditionally conservative utility companies have in the past shied away from letting third parties take over parts of their business.
Not all utility CEOs are created equal...We take this to be self-evident after the bankruptcies, ratings downgrades, balance-sheet blowups, and financial debacles that took place in the industry in the last five years.
Those utility CEOs that kept the corporate ship sailing smoothly, growing their companies right through those turbulent times also evidenced this premise.
Public Utilities Reports 11410 Isaac Newton Sq., Suite 220, Reston, VA 20190 Voice: (703) 847-7720 | Toll Free: (800) 368-5001 FAX: (703) 847-0683
Dear Reader: Welcome to our new website! We’ve spent the past several months rebuilding Fortnightly.com from the ground up, and we’re now in the process of putting it through its paces. We’ll announce our Grand Opening shortly, but in the meantime we hope you’ll excuse our mess, while we bring Public Utilities Fortnightly magazine to an all-new online platform. Your feedback is welcome!