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Capital Spending On Electric Transmission Is On The Upswing Around The World Aug 06
Standard & Poors, Aug 2006
Abstract
Investment in electric transmission assets is on the rise globally and these new outlays could have implications for credit quality. Below are summaries of the dynamics of the electric utility industry's transmission segment in three major regions: Australia and New Zealand, the U.K., and the U.S. The common theme of the continued need for more spending to enhance reliability and wholesale markets is contrasted against regional differences in the types of companies that own transmission assets and the regulatory oversight of the transmission owners. Although the quality of transmission assets varies between states within Australia's national electricity market (NEM), there is no evidence to suggest that any region is suffering to any significant degree from material underinvestment. It is difficult...
Companies mentioned in this report are: Allegheny Energy Inc.,American Electric Power Co. Inc.,National Grid Electricity Transmission PLC,Scottish and Southern Energy PLC,Transpower New Zealand Ltd.,Midwest Independent Transmission System Operator Inc.,SPI PowerNet Pty Ltd.,ElectraNet Pty Ltd.,American Transmission Co.,Scottish Hydro-Electric Transmission Ltd.,SP Transmission Ltd.,National Grid PLC,PEPCO Holdings Inc.,International Transmission Co.,Scottish Power Ltd.
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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