SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Jun 27, 2012) - As a result of plummeting natural gas prices many U.S. utilities have shifted to burning gas for electricity. According to a recent Bloomberg article Julien Dumoilin-Smith, analyst with UBS AG, has said that U.S. utilities are planning to retire 33,000 megawatts, generated from coal, as the U.S. Environmental Protection Agency have tightened regulations on mercury and other toxins. The Paragon Report examines investing opportunities in the Utilities Industry and provides equity research on Exelon Corporation (NYSE: EXC) and American Electric Power Company, Inc. (NYSE: AEP).
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Exelon Corp. may be forced to take a 40 percent cut on three Maryland plants they are trying to sell before the end of August. Offers have ranged from $600 million to $700 million, which are valued $1 billion said Travis Miller director of utilities research for Morningstar Inc. With the sale, utility companies such as American Electric, GenOn Energy Inc. and First Energy Corp. may be able to get a better idea if costs associated with pollution control of coal plants are worthwhile. "This is going to be the first meaningful transaction for coal assets since the downturn," Dumoulin-Smith said in a phone interview. "You can get a little anxious about what the repercussions are."
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Exelon is the nation's leading competitive energy provider, with approximately $33 billion in annual revenues. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is the largest competitive U.S. power generator, with approximately 35,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Shares of the company are down nearly 16 percent year-to-date.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 39,000 megawatts of generating capacity in the U.S. The company recently reported it is seeking offers for the supply of Powder River Basin coal to one or more of its generating stations.
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