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UPDATE 2-Exelon cuts nuclear upgrade spending amid low gas prices
Reuters: Financials
Thu, 7 Feb 2013
Feb 7 (Reuters) - Low natural gas prices and slow economic growth forced U.S. power company Exelon Corp to cancel plans to spend $2.3 billion on capacity expansion at its nuclear power plants and other projects, Chief Executive Chris Crane said on Thursday.
Despite some legislative setbacks, this utility is still well positioned to benefit from the recovering economy says Morningstar senior utility analyst Travis Miller.
Morningstar StockInvestor editor Paul Larson says the events in Japan will shape the fortunes of energy stocks, from incumbent nuclear players to coal producers.
Health care is probably the most single attractive area that we see right now, but there are some pretty good opportunities in utilities, too, says Morningstar's director of equity research.