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Remote utilities viewer freezing3/17/2023 DPL owns DP&L.Īmid the regulatory uncertainty, DPL had a “substantial amount” of holding company debt at around $831 million at the end of June, according to the ratings agency. A lack of ring-fencing provisions between DPL and its utility makes it likely that a credit downgrade of DPL would also trigger a downgrade of DP&L, a key rationale for the negative outlooks on both entities, the agency’s analysts said. “The potential for a rate freeze, along with DP&L's unexpectedly early filing of its ESP 4, has heightened uncertainty around the predictability of the utility's regulatory environment and the constructiveness of the utility's relationship with stakeholders, two key drivers of DPL and DP&L's current ratings,” Moody’s analysts said. Under the plan, called ESP 4, AES Ohio will stop collecting rate stabilization charges of about $70 million to $75 million a year, according to the ratings agency. Moody’s lowered the outlook for AES Ohio in part over concerns about the slow pace of a pending $120.8 million per year rate case, which the Dayton, Ohio-based utility filed in November 2020.Īlso, the utility last month unexpectedly filed an “energy security plan” more than a year early, Moody’s said.
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