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Bay State Gas Co. Jan 05
Standard & Poors, Jan 2005
Abstract
Gas-cost adjustment mechanisms in all three jurisdictions, including components for the recovery of working capital and bad debt expense associated with purchased gas costs. Flexible commercial and industrial interruptible service rates and special contract pricing for uniquely situated firm customers. Recovery of 100% of manufactured gas plant clean-up costs allowed in all three states. Natural gas saturation of 49%, providing significant conversion and growth potential. Access to lower-cost Canadian gas. Above-average access to pipeline capacity. Competitive rates relative to other New England gas distributors. No weather-adjustment mechanism. Parent NiSource's financial condition profile is weaker than that of Bay State Gas. The ratings on Bay State Gas Co., a subsidiary of NiSource Inc., are based are on the consolidated financial and...
Companies mentioned in this report are: Bay State Gas Co.,Columbia Energy Group,Northern Indiana Public Service Co.,NiSource Inc.,NiSource Capital Markets Inc.,NiSource Finance 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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