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Can Florida Public Power Address Surging Demand And Carbon Regulation? Mar 08
Standard & Poors, March 2008
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
A decades-long trend of population growth, coupled with technology advances, has fueled an expansive appetite for electricity in Florida. Geographic constraints and insufficient investment in transmission infrastructure limit the ability of the state's utilities to import power. Florida's utilities have been building, and will need to continue building new generation to meet demand. Capacity margins, which thinned to very low levels in recent years, improved in 2006, but are insufficient to meet sustained demand growth beyond the intermediate term. The state's recent moratorium on adding new coal-based generation has eliminated a relatively cheap source of base load power, forcing utilities to pursue higher cost, natural-gas-fired generation to meet the growing demand for electricity. An increasing dependence on natural gas will...
Companies mentioned in this report are: Clearwater,Florida Mun Pwr Agy,Gainesville Regl Utils,JEA,Lakeland,Orlando Utils Comm,Tallahassee,Seminole Elec Coop,CSX Corp.,Florida Gas Transmission Co. LLC,Florida Power & Light Co.,Tampa Electric Co.,Southern Co.,El Paso Corp.,Gulfstream Natural Gas System LLC
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