Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (14969)	11/16/2002 4:16:04 AM
From: Larry S.	Respond to of 206131

from the TE press release: Senior Vice President Finance and CFO Gordon Gillette said, "This completes our financing plan for 2002. The increased size of the issuance improves our cash position as it allows us to pay down short-term debt previously drawn against our credit facility. With no significant debt maturities until 2007, we expect this to be the last TECO Energy debt offering for some time." The notes, which contain no restrictions on Tampa Electric's ability to issue additional debt, will also contain certain covenants that would become effective only in the event of certain credit rating downgrades. While the company does not expect these covenants to become effective, if they did, TECO Energy would be required to pass certain financial tests prior to making certain payments, including dividends, or to incur certain additional indebtedness. TECO Energy's current 2003 plan, which includes the dividend, shows that the company comfortably passes these tests, which would be required only in the event of a downgrade. the good: no more bond refinancing until 2007 the bad: if ratings fall below a certain level, look for dividend cut to meet covenants.

To: energyplay who wrote (14969)	11/18/2002 1:03:21 AM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 206131

hi energyplay, I'm in Toronto. We're being warned to expect blackouts this winter. We have off line nukes at Pickering with new delays for restarts and a deregulation fiasco to deal with. The Ontario government deregulated power generation and then recently capped the price of electricity (and is issuing rebate cheques) due to huge public backlash (after skyrocketing electricity bills) and only a year and a half left in the government mandate. Of course the cap won't be an incentive to expand capacity and we may need to import from the US. (What a joke eh! Canadians needing to import electricity sigh...) We've got over a third of the Canadian population here in southwestern Ontario and use a lot of power. I expect that to buoy NG usage a tad up here. We use a lot of AC here in the summer too with our high humidity so there is no respite in power demand then either.. We also have one coal fired plant outside Toronto scheduled to switch to NG and more are mandated to follow. Some of the blackout talk may be a bit of hyperbole by the power generators but it looks positive for NG. regards Kastel