The industry’s transformation has begun. Should the F40 transform too?
The New Mexico Public Regulation Commission (PRC) decided unanimously that TECO Energy's pending stock acquisition of New Mexico Gas Intermediate (NMGI), the parent company of New Mexico Gas Co. (NMGC), is in the public interest and can proceed. The parties in the case reached a settlement on the acquisition, and the PRC staff did not oppose it. NMGC serves more than 513,000 gas customers throughout New Mexico.
Wall Street is back in business. What’s next for utility finance?
The dash to gas brings volatility in shareholder performance.
Fortnightly’s 2013 ranking of shareholder value performance shows substantial changes, with gas prices weighing on some utilities and elevating others.
TECO Energy filed its application with the New Mexico Public Regulation Commission (PRC) for approval of its acquisition of New Mexico Gas. The application was filed jointly with New Mexico Gas Co. and its parent company, Continental Energy Systems. A decision by the PRC is expected by early 2014. In May, TECO Energy entered into a definitive stock purchase agreement with Continental Energy Systems to acquire New Mexico Gas Co. for a purchase price of $950 million, subject to customary closing adjustments.
A challenging year brings a change in the rankings.
Doing the right thing can drive utility stock performance.
Utilities get little credit for their efforts to strengthen the sustainability of their businesses. But these efforts have paid dividends in stock performance, capital costs, regulatory relationships, and brand value. Capturing the greatest value for shareholders will require utilities to become better understood as socially responsible enterprises.
NARUC elects new Executive Committee, Arizona State University chooses former ACC Commissioner Mayes as head of new program at Sandra Day O’Connor College of Law, executive announcements at Southern Company, Calpine, Dominion and more.