Anomaly or New Normal?
Regulators weigh interest rate climate and future Fed policy in setting allowed return on equity.
Regulators weigh interest rate climate and future Fed policy in setting allowed return on equity.
Carlyle Group acquires Red Oak plant from Energy Capital Partners; Tenaska acquires U.S. Power Generating Co.; Southern California Edison floats $1.6 billion in bonds in three tranches; Energy Trading Partners issues $1.5 billion in bonds; plus debt issues by ONEOK, Spectra Energy, TVA, MidAmerican, PECO, and Duke, totaling $9.2 billion.
Constellation and EdF transfer nuclear licenses to Exelon for $400 million; NRG closes $244 million acquisition of Gregory cogen plant in Texas; Vivint Solar secures $200 million for rooftop solar leases; Virginia Power floats $585 million in bonds; Southern Company issues $700 million; plus equity deals totaling $844 million and debt issues totaling $3.635 billion.
Wall Street is back in business. What’s next for utility finance?
TECO acquires New Mexico Gas; Direct Energy acquires Bounce Energy; Duke floats $500 million in two tranches; plus debt deals from PPL Electric and Southern Power.
During the month of June, MidAmerican issued $1 billion in bonds for solar projects in California; PG&E sold $750 million in two tranches; ITC floated bonds totaling $550 million; plus debt issues from Duke, TransCanada, Entergy, and others totaling $4.35 billion.
Centerpoint, OGE, and ArcLight form $11-billion gas pipeline partnership; MidAmerican to acquire NV Energy; SolarCity raises $500 billion for solar lease financing; plus transactions and debt issues involving TransCanada, Atlantic Power, Duke-American Transmission Co., Northeast Utilities, and others, totaling $24 billion.
Atlantic Power sells 800 MW of generating capacity in Florida and Texas; Goldman Sachs buys Imperial Valley project from FirstSolar; Duke acquires two solar plants in California; Southern Company and Turner Renewable Energy buy Campo Verde project; plus other deals and issues totaling more than $2 billion.
Dominion agreed to buy three merchant power plants from Energy Capital Partners; First Solar acquired the 150 MW Solar Gen 2 project; Dynegy subsidiary Illinois Power Holdings will acquire Ameren Energy Resources and three subsidiaries; and others ...
NRG completes Gen-On acquisition; Dominion invests in midstream gas development; NextEra buys Cimarron I PV plant; People's Natural Gas acquires Equitable Gas; plus other other M&A and bond deals, together totaling $6.7 billion.