Platts M and A Conference

Coal Versus Gas Power Generation Dynamics: Who’s Buying and Who’s Selling?

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With natural gas competing more strongly than ever with coal for power generation due to near commodity price parity, the mergers and acquisitions market for utilities has entered rarely charted territory.

Of the coal or natural gas utility merger and acquisition deals done in the last 18 months, there were probably 10 times that amount worked on but not closed, John Dingle, Partner at management consulting firm Thorndike Landing told the Platts Utility M&A Conference held June 25th – 26th in New York. Keep reading →

 /  Published July 5, 2012 at 11:15 AM

Wind at Their Backs: Utility Sector Mulls Further Dealmaking

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The power industry has conducted a complex dance of consolidation and division over the past few decades in response to technological disruption, regulatory trends and financial shifts.

Recent years have brought about a new wave of consolidation and utility bankers have been busy ushering companies into new larger footprints through buying complementary assets rather than embarking on broad new competition-based construction and infrastructure investment programs. Constellation is now part of Exelon, and Duke Energy is adding further to its portfolio with the acquisition of Progress Energy, the two highest-profile deals in a spate of transactions all the more surprising for the tightness in financial markets since the 2008 crisis. Keep reading →

 /  Published June 18, 2012 at 11:30 AM