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The top trends behind the growing, multibillion-dollar market for utility M&A

PA's Matt Mooren, energy and utilities expert, is quoted in an article in Greentech Media. The article discusses M&A trends in the utility sector.

Commenting on this topic, Matt explains: The Exelon-Pepco deal is noteworthy for its size, creating the biggest utility in the country, with 10 million customers. It also indicates a new wave of consolidation in the North American utility sector, ranging from multibillion-dollar mergers to forays into new business.

Matt continues: In the mid-1990s, there was basically one business model - the vertically integrated electric utility. Then came the rise of independent grid operators, and the splitting of the utility business model into competitive retail energy providers, independent wholesale power producers, and transmission and distribution utilities, which in turn led to a lot of consolidation across those fields.

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Matt goes on to say: Wall Street and shareholders have been penalizing electric utilities in particular, and utilities in general, for any non-regulated investment.

Matt concludes: I think distributed energy resources are clear avenues to growth for distribution utilities, because they don’t have generation that will be hindered by that distributed energy growth. But these acquisitions aren’t just about taking a stake in the growth of renewable energy. They’re also about making connections to the broader realm of supplying energy services to commercial and industrial customers.


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