CapEx

The CO2 Opportunity

Converting emissions from coal-fired plants to gasoline, diesel, or jet fuel.

An economical commercial process is needed to provide an incentive for the utility industries to engender win-win support for governmental regulations on carbon dioxide (CO2) emissions. The current approach is carbon capture and sequestration. Recently, however, an alternative has emerged: a proprietary process that converts CO2 into syngas (CO & H2). Thereafter, the syngas can be converted to fuels such as gasoline, diesel, jet fuel, methanol, and/or ethanol with the use of established mature technologies.

A Trip to RIIO in Your Future?

Great Britain’s latest innovation in grid regulation.

Great Britain’s electric regulator takes performance-based regulation to a new, more complex level, weighing policy choices against attendant costs.

Five Years Later

Wall Street is back in business. What’s next for utility finance?

When Lehman Brothers went bankrupt in September 2008, it marked the beginning of a financial crisis. By most accounts, the utility industry has been a picture of stability through tumultuous times. The view from Wall Street remains bullish – despite some reasons for concern.

The Fortnightly 40 Best Energy Companies

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.

Solution in Search of a Problem

Securitization fails the test for financing environmental capex.

Utilities seeking financing for environmental upgrades should look to the markets for debt and equity, rather than trying to securitize those costs.

Last Call

Utilities are enjoying some of the best financing terms anybody’s ever seen. Is the party winding down?

Conditions are ideal for utility financing—but not forever. Although interest rates remain low, policy changes weigh on capital structures.

Views from the Bond Side

How fixed income investors view the utility sector.

Bond investors are keen for signs of a legitimate recovery, and will be looking to move into holdco bonds.

The Fortnightly 40 Best Energy Companies

A challenging year brings a change in the rankings.

(September 2012) Our annual financial ranking shows some remarkable shifts among the industry’s shareholder value leaders. Despite flat demand and low commodity prices, investor-owned utilities are investing heavily in capital assets. Investment discipline and operational excellence distinguish leaders on the path to financial performance.