Standard & Poor’s

How to Build a Fence (and When)

A formal methodology for developing ring-fencing arrangements and setting conditions.

How can decision makers determine the appropriate degree of ring-fencing for a utility holding company? The authors propose a systematic and objective method – recognizing business and financial risks specific to the regulated utility and its affiliates.

Profit and the New Normal

Delivering value in a zero-growth market.

Disruptive technologies and resource shifts are changing the utility business model. Market factors are driving companies toward four possible paths.

A Virtuous Cycle

How customer satisfaction drives returns on equity for regulated electric utilities.

Data and experience show that serving customers well translates into better rate case outcomes. Conversely, poor performance starts a downward slide. J.D. Power and Associates research shows the correlation between customer service and financial returns.