August natural gas futures limped to a weak expiration as traders watched petroleum futures reel under a burdensome inventory report and acknowledged that Thursday’s Energy Information Administration (EIA) inventory report was likely to show additions greater than historical averages.
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Analyst Sees Generator Asset Sale Prices Continuing to Decline
With power producers continuing to reel from depressed stock prices and, in many cases, overleveraged balance sheets, several companies are looking to shed hard assets in an effort to shore up their financial moorings. But the reality is that this is a “buyer’s market” for such assets, Raymond Niles, an analyst with Salomon Smith Barney, recently said. The pricing environment for sellers of generation-related assets is likely to get worse before it improves, he believes.
February 25, 2002
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