Industry Report Card: Despite A Weak Economy And Low Electricity Prices, Canadian Utilities' Credit Quality Stays Resilient Feb 10
Standard & Poors, February 2010
Abstract
In the face of a global recession, the Canadian regulated pipeline and utility sector showed its strength in 2009. Virtually every other sector posted at least some declines, but this sector largely demonstrated stable financial performance. It's not that there wasn't lower demand; there was, and noticeably so, owing to lower usage in other sectors that weren't faring so well. But Standard & Poor's Ratings Services believes favorable regulatory rulings across the country helped maintain stable utility performance. In addition, because most distribution and transmission utilities in Canada operate under cost-of-service regulation with medium-to-large fixed components in rates, the lower demand had a manageable impact on operating results. Still, entities with significant unregulated and uncontracted operations did show some predictable...
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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.
- Gaz Metro Inc.
- Enbridge Pipelines Inc.
- TransCanada PipeLines Ltd.
- Enbridge Inc.
- Brookfield Renewable Power Inc.
- Hydro One Inc.
- TransAlta Corp.
- Maritime Electric Co. Ltd.
- EPCOR Utilities Inc.
- Enbridge Gas Distribution Inc.
- Caribbean Utilities Co. Ltd.
- Westcoast Energy Inc.
- Union Gas Ltd.
- Emera Inc.
- Nova Scotia Power Inc.
- Fortis Inc.
- Terasen Inc.
- Terasen Gas Inc.
- Algonquin Power Co.
- Trans Quebec & Maritimes Pipeline Inc
- ATCO Ltd.
- Canadian Utilities Ltd.
- CU Inc.
- Atlantic Power Limited Partnership
- Inter Pipeline Fund
- AltaGas Ltd.
- Ontario Power Generation Inc.
- Toronto Hydro Corp.
- Hamilton Utilities Corp.
- Hydro Ottawa Holding Inc.
- London Hydro Inc.
- Pembina Pipeline Corp.
- Veresen Inc.
- AltaLink L.P.
- AltaLink Investments L.P.
- ENMAX Corp.
- ENTEGRUS Inc.
- FortisAlberta Inc.
- Capital Power L.P.
- UMH Energy Partnership
- Inter Pipeline (Corridor) Inc.
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