Offshore Wind Presents Risks and Opportunities For U.S. Utilities
After reviewing the latest developments in U.S. offshore wind development, we are reaffirming our fair value estimates, moat ratings, and moat trend ratings for all U.S. utilities.Utilities in our coverage with the most offshore wind exposure include Avangrid, Eversource Energy, Dominion, and Public Service Enterprise Group. European utility Orsted's U.S. projects in part support our 21% EPS CAGR estimate for the company through 2028.
The U.S. east coast is the focus of activity with more than ...
Avangrid is an energy services holding company engaged in the regulated energy distribution business through its subsidiary, Avangrid Networks, Inc. (Networks), and in the renewable energy generation business through its subsidiary, Avangrid Renewables Holding, Inc. (ARHI). ARHI in turn holds subsidiaries including Avangrid Renewables, LLC (Renewables). Networks owns and operates its regulated utility businesses through its subsidiaries, including electric transmission and distribution and natural gas distribution, transportation and sales. Renewables operates a portfolio of renewable energy generation facilities primarily using onshore wind power and also solar, biomass and thermal power.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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