Letters: Completing the Tally

Completing the Tally

Aug. 24, 2001

Pam-I greatly enjoy EL&P, and as an equity analyst in the power space and former power industry engineer, I want to give you some kudos.

I am compelled to write that I found the commentary in the August issue right on target.

Incredibly, most in the investment community have been hearing nothing but fear and loathing about “power plant cancellations” and unavailability of bank funding in light of the turmoil in the power industry. In just a few sentences, you dispel the funding fears. Well done.

Any chance that EL&P would continue printing such information about financings of power plant projects? Furthermore, if you would ever like to publish information on so-called “cancellations,” I believe that would also be highly beneficial. To give you a tickler, my preliminary research shows new project announcements/advancements in July outpaced by a factor of over 10x the few cancellations that were publicized. And in fact, I found the cancellations that did occur were largely due to NIMBY [not in my back yard] concerns and simply resulted in the developers transferring their ordered generator assets to another site for further development a bit further from the offended “back yard.”

Thank you in advance, and keep up the good work.

Greg A. Haas
Equity Analyst
Power Technology & Services
Raymond James & Associates
Houston, Texas

EL&P will continue covering project financing, and your suggestion to cover power plant cancellations is an excellent one. We’ll make a point of including these as we become aware of them.-PB

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