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Utilities & Power

Global Home > Utilities & Power
Webinar

Latin America Power Overview

October 16, 2019
9:00am (EDT) | 2:00pm (BST)

On the heels of its recently published report ‘Latin America Power Overview’, Fitch Ratings is hosting a webinar with the Latin America Corporate Ratings group.
 

Register Now

EU's High CO2 Prices to Accelerate Utilities' Transition

Fitch Ratings says the high carbon dioxide (CO2) price environment in the EU is mitigated by external and internal factors in the medium-term and thus rating-neutral to carbon-intensive utilities. However, it will accelerate the industry's transition in the longer-term when these mitigating factors disappear.

China's Renewable Capacity Additions Recover after Policy Changes

New solar installation recovered in 2Q19 from the previous quarter, as solar projects approved in 2018 were required to start operations before July 2019 to qualify for higher feed-in tariff. Wind capacity additions, which were 58% higher in 2Q19 than a year earlier, are likely to maintain growth throughout the year.

Lower Renewable Capital Costs to Spur EU-US Deployment Race

Falling capital costs have made renewables competitive with other energy sources and should accelerate the pace of renewable adoption in both the EU and US. The EU has one of the world's highest shares of non-hydro renewables in its electricity generation mix, twice as high as the US's. The EU's consistent regulatory drive to grow renewable energy and the cheap and abundant natural gas in the US that competes with renewables are the main factors behind the different penetration.

Webinar on Demand

Fitch on UK Water: Pressure on Credit Quality Persists

Now Available On-Demand. Please listen now for an update on the UK Water sector and the AMP7 Process. This webinar aims to address the key questions around water utilities:

  • What is Fitch’s credit view on AMP7?
  • How will financial profiles evolve?
  • What are the main long-term debt serviceability considerations?
  • What could nationalisation mean for creditors?


Listen Now

Webinar on Demand

Utilities Regulation in Kazakhstan and Ukraine is Weaker Than in Georgia' Webcast

Now Available On-Demand. This webcast discusses Fitch’s view on the comparison of the regulatory environment for the generation and grid segments in different FSU (Former Soviet Union) countries, including Georgia, Kazakhstan and Ukraine and its impact on the earnings and ratings of FSU utilities.
 

Fitch WireUtility Regulation Is Key for Ratings in Ex-Soviet Countries

 

 Listen Now

Fitch Rates PG&E's $5.5 Billion DIP Facility 'BBB-'

Fitch Ratings has assigned a 'BBB-' rating to Pacific Gas & Electric Company's (PG&E) proposed $5.5 billion Debtor-in-Possession (DIP) revolving and term loan facility. A list of the facility's individual tranche ratings follows at the end of this release.

Europe Nuclear Generators Most Exposed to Large One-Off Costs

We analysed various actual and hypothetical events among European utilities, leading to large one-off costs and their financial and rating impact. Our analysis followed the bankruptcy filing by one of the largest US utilities, Pacific Gas & Electric Co., in January 2019, which has shaken the risk perception of the utilities sector in the US and led to a debate on whether similar bankruptcies could occur in Europe after extreme events.

Rating Criteria & Sector Companions

Master methodology covers financial adjustments and corporate structures. More details appear in sector-specific companions. 

Companions: APAC Integrated, APAC Regulated, Australia, EMEA Integrated, EMEA Regulated, LatAm, US.

Webinar On Demand

Utilities' Carbon Dioxide - Rising Cost Item for European Utilities

Fitch Ratings hosted a live webcast on utility companies’ CO2 cost exposure. The presentation addressed the current CO2 pricing environment, the relative exposure of companies and countries in Europe, and the potential credit rating implications for Fitch's portfolio.
Listen on Demand

Fitch Downgrades PG&E Corp and Utility Sub to 'BBB-' on Negative Watch

Fitch Ratings has downgraded PG&E Corporation's (PCG) and Pacific Gas and Electric Company's (PG&E) Long-Term Issuer Default Ratings (IDR) to 'BBB-' from 'BBB' and placed them on Rating Watch Negative. A full list of rating actions follows at the end of this release. 
 

Mixed Outlook for EMEA Nuclear

Energy policy uncertainties, along with very large upfront investment requirements and the declining cost of alternatives weigh on nuclear power. The sector's share in power mix in western Europe is likely to decline in the long term. 

rating action

Eskom Downgraded to 'BB-', Maintains RWN

The downgrade reflects the weakening liquidity of Eskom and uncertainty about its ability to meet its financial obligations in the short term. The RWN reflects the potential for further downgrade in case of lack of government's tangible support or improved liquidity. 

US Tax Bill Could Pressure Power Sector

Passing federal income tax reductions and returning excess accumulated deferred income taxes to customers through lower investor-owned utility rates could raise competitive pressures for public power and cooperatives, and be a credit negative for some corporate power issuers, including regulated utilities and utility holding companies.

Tax Reform Creates Near-term Credit Pressure for U.S. Utilities

The Tax Cuts and Jobs Act signed into law on Dec. 22, 2017 has negative credit implications for U.S. regulated utilities and utility holding companies over the short-to-medium term. A reduction in customer bills to reflect lower federal income taxes and return of excess accumulated deferred income taxes is expected to lower revenues and funds from operations (FFO) across the sector.

Contacts

business enquiries

Jill Zelter

Global Group Head & North America

business enquiries

Anjali Sharma

Europe, Middle East, Africa

business enquiries

Kathleen Fuentes Holtzman

Latin America

business enquiries

Sing Chan Ng

Asia-Pacific

Banker enquiries

Matthew de Mendonca

North America

Banker enquiries

Sean Costello

Europe, Middle East, Africa

INVESTOR ENQUIRIES

Aymeric Poizot

Global Group Head & Europe, Middle East, Africa

INVESTOR ENQUIRIES

Ian Rasmussen

North America

INVESTOR ENQUIRIES

Frank Laurents

Latin America

INVESTOR ENQUIRIES

Helen Wong

Asia-Pacific

ANALYTICAL ENQUIRIES

Shalini Mahajan

North America

ANALYTICAL ENQUIRIES

Lucas Aristizabal

Latin America

ANALYTICAL ENQUIRIES

Josef Pospisil

Europe, Middle East, Africa

ANALYTICAL ENQUIRIES

Buddhika Piyasena

Asia-Pacific

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