It’s been a long time coming, but former merchant energy giants like Aquila Inc., CMS Energy Corp., Reliant Resources Inc., Dynegy Inc. and Xcel Energy appear to be stabilizing as they improve their liquidity and pay down debt, according to two reports by Standard & Poor’s Ratings Services (S&P).
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S&P Believes Severe Liquidity Crunch May be Easing for Energy Players
It’s been a long time coming, but former merchant energy giants like Aquila Inc., CMS Energy Corp., Reliant Resources Inc., Dynegy Inc. and Xcel Energy appear to be stabilizing as they improve their liquidity and pay down debt, according to two reports by Standard & Poor’s Ratings Services (S&P).
Energy Execs Believe Merchant Sector Downturn to Last 4-7 Years
For those who believe the worst is over, think again. The wholesale energy industry, which has lost 88% of its market value in the past year, has not hit bottom yet, according to several energy executives. It could be as short as four, or as long as seven years, before the wholesale sector earns market confidence again, and most assuredly, an entire new set of players will be in the game.
Merchant Sector Prodded to Maintain Intellectual Enthusiasm
Accenture’s Etienne H. Deffarges on Thursday borrowed a quotation attributed to Winston Churchill, telling energy executives that the definition of “failure” was the “ability to go from one failure to another with enthusiasm.” Churchill’s comment, said Deffarges, “spectacularly” defines what has happened and what will happen as the power sector begins its slow ascent.
Energy Execs Believe Merchant Sector Downturn to Last 4-7 Years
For those who believe the worst is over, think again. The wholesale energy industry, which has lost 88% of its market value in the past year, has not hit bottom yet, according to several energy executives. It could be as short as four, or as long as seven years, before the wholesale sector earns market confidence again, and most assuredly, an entire new set of players will be in the game.
Aquila Cuts Cord with Gas, Power Marketer ACN Energy
Aquila Inc. has agreed to end a long-term relationship with natural gas and power marketer ACN Energy, in which Aquila Merchant Services Inc. provided supply, trade finance, market guarantees, loans and associated services in exchange for fees and liens on ACN Energy assets.
Aquila Cuts Cord with Gas, Power Marketer ACN Energy
Aquila Inc. has agreed to end a long-term relationship with natural gas and power marketer ACN Energy, in which Aquila Merchant Services Inc. provided supply, trade finance, market guarantees, loans and associated services in exchange for fees and liens on ACN Energy assets.
El Paso Agrees to Sell 40% Interest in Mexican Plant
El Paso Merchant Energy has agreed to sell its 40% interest in its 700 MW Samalayuca II power plant facility in Mexico to another partner in the project, GE Structured Finance. No financial details were disclosed.
ALJ’s Decision on Low Refunds to CA Sends Merchant Stocks Up
A finding last week by a regulatory judge that power generators don’t owe California anywhere near the $8.9 billion in overcharges claimed by the governor for power deliveries in 2000-2001 didn’t play well in Hollywood or its environs, but Wall Street appeared to like it a lot.
El Paso Agrees to Sell 40% Interest in Mexican Plant
El Paso Merchant Energy has agreed to sell its 40% interest in its 700 MW Samalayuca II power plant facility in Mexico to another partner in the project, GE Structured Finance. No financial details were disclosed.