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AmerenEnergy Generating Co. Feb 03
Standard & Poors, Feb 2003
Abstract
A relatively low-cost base load coal capacity; acquired CIPS' generating assets at $189 per kw. Wholesale prices will not have a significant effect on AEGC's revenue stream until at least 2005 when contract with CIPS expires, or 2007, once contract is extended. The largest units are well positioned along the MAIN forecast dispatch curve. Operational expertise and minimal technology risk. Short-term working capital needs funded by parent. Insulated from construction risk; all new plants are built outside AEGC and transferred to AEGC at completion. Unregulated generation development program is complete; no plans for new capacity. A financially stronger parent. If purchased-power agreements are not renewed or extended, market risk will increase, AEGC's assets will become exposed to market sales and...
Companies mentioned in this report are: AmerenEnergy Generating Co.,Ameren Illinois Co.,Ameren Missouri,Gateway Fuel Corp.,Ameren Corp.
Action: Review
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
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