The US utilities sector is undergoing a transformation amid a state-wide push towards a low-carbon economy and increasing pressure on big energy companies to "go green", creating opportunities for ESG integrated credit managers.
Lacklustre demand for power has been driven by, among other things, energy efficiency measures. Meanwhile, lower commodity prices and cheaper renewable energy generation and storage costs are adding to the woes of US independent power producers (IPPs) - that is, utilities operating in the unregulated power sector. The challenging operating environment has resulted in a wave of bankruptcies and mergers. Legg Mason's Leech eyes US high yield upgrade Against this backdrop, conventional US independent power producers are increasingly competing with renewable energy producers and wha...
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