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New York State Electricity Transmission and Distribution Companies: Not All Are Created Equal Sep 03
Standard & Poors, Sep 2003
Abstract
As the debate over deregulation continues to chug along, colored by the after-effects of the power outage of Aug. 14, 2003, the states that have deregulated appear to have no plans to back down on their commitment to the new business environment. Among these states, the ones that stand out in the northeastern U.S. are New York, Massachusetts, Connecticut, Rhode Island, and Maine. This article will discuss the investor-owned utilities operating in New York and attempt to compare the arrangements under which they operate, reflecting in part their appetites for risk, even under this lower-risk environment. Deregulation of the electric utility industry in New York began in 1997, with Consolidated Edison Co. of New York Inc. (Con Ed) being one...
Companies mentioned in this report are: Central Hudson Gas & Electric Corp.,Consolidated Edison Co. of New York Inc.,New York State Electric & Gas Corp.,Niagara Mohawk Power Corp.,Rochester Gas & Electric Corp.,Iberdrola USA
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.
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