Enel Generation Chile operates in a relatively stable political environment.
We are reaffirming our $28 per share fair value estimate, narrow economic moat, and stable moat trend ratings after Enel Generacion Chile reported net earnings attributable to shareholders of CLP 248.0 billion for the first nine months, roughly the same as the year-ago period.Poor drought conditions in Southern Chile continued to weigh on Enel's earnings. Greater thermal generation was needed to replace depressed hydro generation, with drought conditions weighing on hydro output. This subsequen...
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