Hand Up or Hand Out? Exelon's Illinois Nuclear Plants Find New Life
Call it what you will--a hand up or a handout--new Illinois legislation appears set to give Exelon's beleaguered Illinois nuclear plants another 10 years of life. After reviewing details of the Illinois Future Energy Jobs Bill, we are raising our fair value to $32 per share from $31 per share.We previously assumed the Clinton and Quad Cities nuclear plants would close in 2017-18 and assumed a 50% probability that the Byron plant would close by 2019. We now assume all three will continue operati...
Exelon is a utility services holding company engaged in the generation, delivery and marketing of energy through Exelon Generation Company, LLC and the energy distribution and transmission businesses through Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Potomac Electric Power Company, Delmarva Power & Light Company and Atlantic City Electric Company. Through its business services subsidiary Exelon Business Services Company, LLC, the company provides its subsidiaries with a variety of support services.
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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