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Business & Money

Sticking to the Knitting:

Business & Money

Sticking to the Knitting:

A review of three years of post-Enron stock performance by electric utilities.

Immediately following the Enron collapse, investors dumped the stock of any electric power company that appeared to be pursuing non-traditional growth strategies. Any company that emphasized unregulated businesses-investments in overseas assets, merchant power plant development, and energy marketing and trading-was suspect.

Byline: 
Dean C. Maschoff, Thomas F. Read, and R. John Dingle
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LICAP and Its Lessons: A Kink in the Curve

Doubts intensify over New England’s radical new market for electric capacity.

What began nearly two years ago as a simple request by power producers to boost their chances for recovering fixed costs for several power plants in Connecticut has mushroomed into the single most complicated case now pending before FERC.
Byline: 

Bruce W. Radford

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People: November 2004

People

Jack Hawks took on the added role of EPSA's acting vice president of policy; David Barnes joined Commerce Energy as vice president, Finance & Investor Relations; Terry Winter assumed the newly created position of executive vice president, Advanced Grid Solutions at American Superconductor Corp.; and more.
Byline: 

PUF

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People

People for September 2004

Filled positions at the California PUC, PG&E Corp., FERC, and others.
Byline: 

PUf

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It's Back

Energy trading returns, healthier and wiser.

As the overall market and, in particular, credit ratings begin to improve, will utilities and other energy players jump back into the energy trading market? Only if the return of trading adds real value to a company.
Byline: 

Gary L. Hunt and Grant Thain

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Business & Money: Bringing Back The Greenbacks

A spate of proposed U.S. tax rule changes soon may open a window of opportunity for certain utilities.

The proposed Homeland Investment Act on Repatriation may soon open a window of opportunity for U.S. companies with unrepatriated foreign earnings. If passed, it potentially would allow U.S. utilities to bring money back into the country without harsh tax penalties, thereby freeing up capital to reinvest in assets here, pay down U.S. debt, or fund other liabilities.
Byline: 

Todd M. Landau, Tadd A. Fowler, and Craig King

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People

People for May 2004.

Positions filled at Southern Co., World Association of Nuclear Operators, Allegheny Energy, and others.
Byline: 

PUF

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People

People for March 2004.

Positions filled at Allegheny Energy, Constellation NewEnergy, Xcel Energy, and others.
Byline: 

PUF

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Plants for Sale: Pricing the New Wave

Financial players and load-serving utilities are looking for power asset deals.

Financial players and load-serving utilities are looking for power asset deals.

Despite talk of wide bid-ask spreads in the past two tumultuous years, some 60 sales of generation assets have been announced. These sales cover more than 22 GW of capacity, valued on a cash-and-debt basis at approximately $11 billion. A wide variety of buyers and sellers have participated in the sales activity, with a pronounced entry by financial players (investment banks and private equity firms) and load-serving entities (LSEs) looking for capacity to serve their load.

Byline: 
David Haarmeyer, Mark Griffith, and Grant Thain
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