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Fortnightly Magazine - September 2007

The Devil in the Deal: Notes From an M&A Practitioner

A look at due diligence for energy transactions, and at what’s driving them.

By the end of last year, much was being made of the failed attempts at multibillion-dollar mergers by FPL with Constellation, Exelon with PSEG, and Southern Co. with Progress Energy. In spite of the repeal of the Public Utility Holding Company Act, these mega-mergers still required regulatory approvals from multiple state and federal agencies, and their high profiles attracted attention and resistance from a vast array of special interests.

Byline: 

Tamir Druz

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Tilting to Windward

As if carbon control were a fait accompli, gen developers skew the queue toward renewable projects, driving new policy on transmission pricing.

Now at last, in a region other than California, we can see clearly that renewable mandates and fears of carbon taxes have influenced the power-plant development cycle. Moreover, this effect is helping to drive policy proposals for the pricing of transmission service and the recovery of costs for grid upgrades deemed necessary to bring the new plants on line.

Byline: 

Bruce W. Radford

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The 40 Best Energy Companies

Will 2007 be remembered as the year of the turnaround? Several new CEOs with bold transformation programs took top spots in our third annual ranking.

(September 2007) Consistent performance over time is the Holy Grail of corporate management, and a focus of many of the executives who made this year’s ranking. Who returned to the list, and who fell off? And more important, why?

Byline: 

Richard Stavros

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Understanding the F40

How does the modified Dupont Model reward utilities?

(September 2007) The impact of dividend policies, capital expenditures, and publicly traded equities highlights an in-depth look at what goes into the modified Dupont Model behind the Fortnightly 40 financial rankings for utilities.

Byline: 

Jean Reaves Rollins

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