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Seminole Electric Cooperative
Standard & Poors, December 2006
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
A captive retail market and the ability to set rates through take-or-pay all-requirements wholesale power agreements with 10 member distribution cooperatives located throughout Florida that expire no earlier than 2020. Favorable rate-setting practices, including annual and intra-year base rate review and automatic pass-through of fuel and power costs through a power cost adjustment mechanism that is reset at least every six months. A growing and primarily residential retail base, with electric energy sales growth averaging 4.4% annually over the past three years and expected 3.9% annual growth over the next 10 years. A competitive generation fleet and fuel mix consisting of coal and natural-gas fired resources. Competitive member rates, despite recent increases due to rising fuel costs. Financially strong member...
Companies mentioned in this report are: Seminole Elec Coop
Seminole Elec Coop