Tough regulation will keep Spark's returns under pressure, but distributions are sustainable.
We remain comfortable with our utility fair value estimates despite some unfavourable recommendations from the Australian Consumer and Competition Commission's, or ACCC's, review into retail electricity prices. We've flagged for some time that regulatory risk is increasing because of high and rising retail gas and electricity prices. It is one of the two key medium-term risks for utility investors; the other being rising global bond yields. The government should decide by the end of the year whe...Spark Infrastructure is engaged in investing in regulated electricity distribution and transmission businesses in Australia. Co. reportable segments are: Victoria Power Networks, which represent the 49.0% interest in two electricity distribution businesses in Victoria; SA Power Networks, which represent the 49.0% interest in the electricity distribution business in South Australia; TransGrid, which represent the 15.01% interest in the electricity transmission business in New South Wales; and Other which represents the economic interest in DUET Group, an Australian Securities Exchange listed entity head quartered in New South Wales.
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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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