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May 23, 2014
17:40 EDTPPL, EXC, AEP, FEUtilities rise after PJM says 2017-2018 grid capacity cost rises to $120/Mw-day
WHAT'S NOTABLE: PJM is a regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia. The results of PJM's recent auction to procure power supplies three years into the future continued an overall trend toward more gas-fired generation and increasing diversity of resources. The clearing price for resources, which includes generation, annual demand response and energy efficiency, is $120/megawatt-day for all of PJM except the PSE&G location deliverability area. The auction, which concluded today, produced an adequate amount of resources to serve the PJM region in the June 1, 2017 to May 31, 2018 delivery year. STOCKS TO WATCH: PPL Corporation (PPL), Exelon (EXC), American Electric Power Company (AEP), and FirstEnergy (FE) are all up about 2% in after-hours trading. Reference Link
News For PPL;EXC;AEP;FE From The Last 14 Days
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October 1, 2014
12:37 EDTEXCOn The Fly: Midday Wrap
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10:00 EDTEXCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Allergan (AGN) upgraded to Buy from Hold at Stifel... Angie's List (ANGI) upgraded to Market Perform from Underperform at Northland... DeVry (DV) upgraded to Buy from Hold at Deutsche Bank... Dynegy (DYN) upgraded to Buy from Hold at ISI Group... Exelon (EXC) upgraded to Buy from Hold at ISI Group... Fluor (FLR) upgraded to Buy from Neutral at DA Davidson... Genworth (GNW) upgraded to Outperform from Neutral at Macquarie... Hecla Mining (HL) upgraded to Buy from Hold at BB&T... InvenSense (INVN) upgraded to Strong Buy from Buy at Needham... Janus Capital (JNS) upgraded to Buy from Hold at Jefferies... Masco (MAS) upgraded to Overweight from Neutral at JPMorgan... NRG Energy (NRG) upgraded to Strong Buy from Buy at ISI Group... Orbitz (OWW) upgraded to Outperform from Perform at Oppenheimer... Panera Bread (PNRA) upgraded to Buy from Hold at Wunderlich... Suncor (SU) upgraded to Buy from Neutral at Citigroup... Susquehanna (SUSQ) upgraded to Outperform from Neutral at Boenning & Scattergood... TPG Specialty Lending (TSLX) upgraded to Outperform from Market Perform at Wells Fargo... Tyson Foods (TSN) upgraded to Neutral from Underperform at Credit Suisse.
08:11 EDTEXCExelon upgraded to Buy from Hold at ISI Group
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September 30, 2014
16:16 EDTPPL, EXCDynegy, Exelon, NRG Energy upgraded at ISI Group
ISI Group said capacity market improvements could overcome gas basis concerns for the independent power producers it covers. The firm raised its ratings on Dynegy (DYN) and Exelon (EXC) to Buy, upped its rating on NRG Energy (NRG) to Strong Buy and reiterated its Buy rating on PPL Corp. (PPL). ISI kept a $34 price target on Dynegy, kept a $36 target on PPL Corp., raised its price target Exelon to $39 from $33 and hiked its target NRG to $40 from $34.
16:07 EDTEXCExelon upgraded to Buy from Hold at ISI Group
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15:22 EDTPPLPPL Corp. sale of hydroelectric facilities approved by Montana PSC
PPL Montana’s agreement to sell its hydroelectric facilities to NorthWestern Energy has received final approval from the Montana Public Service Commission, the company announced. The commission issued a final order Friday, Sept. 26, approving the transaction, which includes PPL Montana’s 11 hydroelectric power plants and Hebgen Lake reservoir. The PSC action follows prior approvals from the Federal Energy Regulatory Commission, as well as the necessary clearance from the antitrust enforcement agencies. Before the transaction can close, NorthWestern must file with FERC and obtain approval of certain financing transactions. FERC review of that filing is expected to take 30-60 days. The purchase price for the hydroelectric generating facilities is $900M in cash, subject to certain adjustments. PPL Corporation estimates its total net cash proceeds of the sale will be approximately $880M.
14:52 EDTFEFirstEnergy warns customers about Green Dot card payment scam
FirstEnergy Corp.'s (FE) utilities are warning customers about a scam involving a telephone caller posing as a utility company employee threatening to shut off power unless an immediate payment is made using a pre-paid debit card such as a Green Dot (GDOT) card. Scams involving callers asking for utility bill payment via Green Dot cards have been reported by customers in all of FirstEnergy's service areas from Ohio to New Jersey, which include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; West Penn Power, Penn Power, Met-Ed and Penelec in Pennsylvania; Jersey Central Power & Light in New Jersey; Mon Power in West Virginia; and Potomac Edison in West Virginia and Maryland. FirstEnergy and its utilities do not require payment over the phone via specific means, including Green Dot cards. Moreover, FirstEnergy's utilities do not demand payment over the phone to avoid an impending termination of service. "If you receive a call demanding payment via a specific option, including a Green Dot card, it's a scam, and you should report this crime to your local authorities," said Ronald I. Green, vice president, Customer Service, FirstEnergy. "While we may phone a customer whose bill is in arrears to remind them a payment is due, we would explain how a payment can be made using established payment options."
10:02 EDTPPLOn The Fly: Analyst Initiation Summary
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09:28 EDTPPLPPL Corp. initiated with a Buy at Hilliard Lyons
September 29, 2014
12:18 EDTEXCExelon orders GE's H-class gas turbines in deal valued at over $500M
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11:03 EDTEXCExelon Generation to build two new CCGT units in Texas
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September 25, 2014
10:08 EDTFEFirstEnergy management to meet with Jefferies
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September 24, 2014
13:03 EDTFEThree FirstEnergy utilities launch Request for Proposal for solar PV credits
FirstEnergy announced that a Request for Proposal will be issued to purchase 48,500 Solar Photovoltaic Alternative Energy Certificates annually over a two-year period on behalf of three of FirstEnergy's Pennsylvania utilities – Pennsylvania Power Company, Pennsylvania Electric Company, and Metropolitan Edison Company. The RFP process will be conducted by The Brattle Group and will take place in October and November, with qualifying applications due by October 16, 2014 and bids due by November 6, 2014. Based on the RFP results, FirstEnergy's Pennsylvania utilities will enter into separate agreements with winning suppliers to purchase the necessary quantities of SPAECs.
September 23, 2014
11:07 EDTEXCPepco Holdings stockholders vote to merge with Exelon
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September 18, 2014
12:12 EDTEXCComEd to refund customers $46.2M, stemming from settlement of legal cases
ComEd, a unit of Exelon, announced that it will refund customers $46.2M. The refunds stem from settlement of long-pending legal cases brought by the Illinois Attorney General’s Office, Citizens Utility Board and the Illinois Industrial Energy Consumers on issues related to depreciation costs in ComEd’s 2007 rate case filing and from costs in the company’s smart meter pilot project in 2009. Average refunds for residential customers will total approximately $8 and will appear as a credit on November bills.
September 17, 2014
13:01 EDTEXCPepco Holdings to host special shareholder meeting
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07:36 EDTEXC, AEPWolfe Research to hold a conference
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