Most of today's plants were built in an era when central planners or state utility boards had no idea of the true cost of capital.
"The DOE loan program provides an important financing 'bridge' at a time when the U.S. private debt markets have little to no experience financing first of their kind utility-scale solar projects, " First Solar Chief Executive Rob Gillette said in an email.
The government had given preliminary permission for the construction of the reactors to two utility groups but no details were confirmed.
Being an on-site power system allows users to run independently of the public utility grid, ensuring that, no matter what happens to the grid, a company will not lose power and will continue to operate.
In that situation, the National Transportation Safety Board assigned much of the blame on the utility, saying that it had no methods in place to detect structural weaknesses in its pipeline.
But for students who drop out of college without finishing a degree, student debt is the worst type of debt possible: a long-term financial burden with no utility that is practically impossible to shed in bankruptcy.
When I was young I was told that "no utility infield has ever made it into the Hall of Fame, " but I am too old to mend my ways.
Notwithstanding ss. 196.49 and 196.80, no approval or certification of the public service commission is necessary for a public utility to purchase, or contract for the operation of, such a plant, and any such purchase is considered to be in the public interest and to comply with the criteria for certification of a project under s. 196.49 (3) (b).
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Hardest hit, says Robert Gordon of Twenty-First Securities, could be utility stocks and fixed-rate preferreds with no way to adjust upward.
The utility companies have however been slow to react and there is clearly no sign of them reducing gas or electricity.
The coal plant owners complied, mercury pollution dropped significantly, the lights stayed on, utility rates didn't go up, and there was no a wave of plants shutting down.
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Most of the names are the same as last week, with Brazilian utility Cemig (CIG) no longer a buy and Indian bank ICICI (IBN) on the list for the first time in more than a quarter.
With no definition of what constitute gross proceeds, any payment for anything is probably fair game, including payments to utility companies, vendors, suppliers, and customers.
As Sir Mervyn went out of his way to point out, this is in no small part because of government policies - notably the rise in tuition fees and administered increases in transport and utility bills - which the central bank could not predict, let alone control.
No doubt some utility companies deserved to be punished for moves they made either to cope with the deregulation of the 1990s or to take advantage of this new freewheeling environment.
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