The Top 10 US Utilities Companies: Growth strategies, performance and SWOT analyses

Date: January 22, 2010
Pages: 162
Price:
US$ 2,875.00
Publisher: Business Insights
Report type: Strategic Report
Delivery: E-mail Delivery (PDF), Hard Copy Mail Delivery, CD-ROM Mail Delivery
ID: T39A6342312EN
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The Top 10 US Utilities Companies: Growth strategies, performance and SWOT analyses
This report profiles the leading players in the US utility industry comprising electricity, gas and water markets. Electricity utility market consists of power generation and sale of electricity to industrial, commercial, household and other end-users, including agricultural and transport users. The gas utilities market consists of only downstream operations (distribution to end-customers) and excludes up and midstream activities (exploration, production and storage of gas). Water utilities are defined as activities involved in collection, treatment and distribution of water to end-users and collection and treatment of waste water.

This report analyzes the US utility industry, focusing on:- pricing; production; consumption; and trends. This report profiles the top ten companies in the industry and also involves a brief summary of top 11 to 20 players.

Key features of this report

  • Power generation and gas production in the US market during 2004-08.
  • Trends of the US utility industry.
  • Identification of the top 10 players in the US utility industry.
  • Company analysis and market share of the top 10 players in the US utility industry.
  • Strategic and growth analysis of leading US utilities.


  • Scope of this report

  • Learn from the strategies of the US utilities to target future growth markets effectively, avoid their mistakes, replicate their successes and learn of the threats they face.
  • Benchmark your performance against the leading US utilities using market share data by company and comprehending their strategies.
  • Understand the major issues affecting the US utility industry.
  • Predict the key growth areas in the US utility industry.
  • Save time, money and resources on analyzing the performance of the key US utilities using this report.


  • Key Market Issues

  • Environmental regulations: Stringent environmental regulations to curb GHG emissions in the US will result in additional capital expenditure on cleaner technologies.
  • Consolidation: The US is witnessing increased consolidation post the repeal of PUHCA in 2005. In addition to the repeal of PUHCA, the financial crisis also forced companies to sell their assets to strengthen their financial position providing an opportunity to financially strong companies to expand their generation fleet and geographic presence.
  • Price volatility: Gas prices are highly volatile as they depend on oil prices, expected weather, gas demand and investments in gas pipelines and additional regasification capacity Etc.


  • Key findings from this report

  • The US utility sector is dominated by Exelon in terms of revenues during 2008 with operations predominantly in the power segment.
  • The US power generation fuel mix witnessed a perceptible shift towards cleaner sources of energy during 1998–2008 backed by government’s efforts to reduce greenhouse gas (GHG) emissions.
  • Several utility firms across the US are focusing on renewable energy based power generation projects dominated by wind energy.
  • Since 2007, the power sector is witnessing increased consolidation subsequent to the repeal of Public Utility Holding Company Act (PUHCA). Prior to the repeal, utility operations were limited by geographic location.


  • Key questions answered

  • What are the trends in the US utility industry?
  • Who are the top 10 players in the industry?
  • What are the growth strategies of the top 10 companies?
  • What are the strengths of the top 10 players in the US utility industry?
  • What are the weaknesses of the top 10 players?


  • The Top 10 US Utilities Companies
    Executive summary 14
    Industry overview 14
    Exelon 15
    Southern Company 15
    FPL Group 16
    PG&E 16
    FirstEnergy 17
    AEP 17
    Entergy 18
    RRI Energy 18
    Consolidated Edison 19
    Duke Energy 19

    CHAPTER 1 INTRODUCTION

    What is this report about? 22
    Methodology 22

    CHAPTER 2 INDUSTRY OVERVIEW

    Summary 24
    Introduction 25
    Power utilities 25
    Power generation in the US 25
    Investment in renewable energy power generation 27
    Electricity prices 29
    Consolidation underway 30
    Gas utilities 32
    Gas production in the US 32
    Gas consumption in the US 33
    Increasing demand for natural gas for power generation 34
    Gas prices in the US 35
    Water utilities 36
    Market dynamics: size and growth 36
    Consolidation in progress 37
    Competitive landscape 38
    Top 10 utilities based on revenues 38
    Top 10 utilities based on generation capacity 38
    Fuel mix of top 10 utilities 39

    CHAPTER 3 EXELON

    Summary 42
    Company overview 43
    Utility segments 43
    Power generation 43
    ComEd 43
    PECO 44
    Recent financial performance 44
    Performance by business segments 45
    Growth strategies 46
    Enhancing capacity of existing nuclear fleet through power uprates 46
    Aggressively pursuing long-term contracts for the development of renewable energy 46
    Strengthening transmission and distribution infrastructure 47
    Expanding margins through cost restructuring 47
    Acquisitions and divestments 48
    SWOT analysis 49

    CHAPTER 4 SOUTHERN COMPANY

    Summary 52
    Company overview 53
    Utility segments 53
    Traditional operating companies 53
    Southern Power 54
    Recent financial performance 54
    Performance by business segments 55
    Growth strategies 56
    Diversifying generation mix through planned investment in renewable and clean energy 56
    Investing in renewable resources 56
    Expanding clean energy generation capacity to reduce environmental impact 57
    Acquisitions and divestments 57
    SWOT analysis 58

    CHAPTER 5 FPL GROUP

    Summary 60
    Company overview 61
    Utility segments 61
    FPL 61
    NextEra Energy Resources 61
    Recent financial performance 62
    Performance by business segments 63
    Growth strategies 64
    Expanding clean energy-based generation capacity 64
    Acquisitions and divestments 65
    SWOT analysis 66

    CHAPTER 6 PG&E

    Summary 68
    Company overview 69
    Utility segments 69
    Electricity 69
    Natural gas 70
    Recent financial performance 70
    Performance by business segments 71
    Growth strategies 72
    Investing in improvement and expansion of transmission infrastructure 72
    Expanding generation capacity 72
    Expanding renewable energy generation 73
    Acquisitions and divestments 73
    SWOT analysis 74

    CHAPTER 7 FIRSTENERGY

    Summary 76
    Company overview 77
    Utility segments 77
    Energy delivery services 77
    Competitive energy services 77
    Ohio transitional generation services 78
    Recent financial performance 78
    Performance by business segments 79
    Growth strategies 80
    Focusing on backward integration 80
    Improving generation, transmission and distribution operations 80
    Expanding renewable energy generation portfolio 81
    Expanding geographic presence 81
    Acquisitions and divestments 82
    SWOT analysis 83

    CHAPTER 8 AEP

    Summary 86
    Company overview 87
    Utility segments 87
    Utility operations 87
    Recent financial performance 88
    Performance by business segments 89
    Growth strategies 90
    Plans to expand long-distance transmission capability 90
    Aggressively pursuing rate increase to reduce regulatory lag 91
    Acquisitions and divestments 91
    SWOT analysis 92

    CHAPTER 9 ENTERGY

    Summary 94
    Company overview 95
    Utility segments 95
    Utility 95
    Non-utility nuclear 95
    Recent financial performance 96
    Performance by business segments 97
    Growth strategies 98
    Strengthening transmission infrastructure to sustain business growth in the long term 98
    Acquisitions and divestments 98
    SWOT analysis 100

    CHAPTER 10 RRI ENERGY

    Summary 102
    Company overview 103
    Utility segments 103
    Wholesale energy 103
    Retail energy 103
    Recent financial performance 104
    Performance by business segments 105
    Growth strategies 106
    Focus on increasing operational efficiency 106
    Acquisitions and divestments 106
    SWOT analysis 107

    CHAPTER 11 CONSOLIDATED EDISON

    Summary 110
    Company overview 111
    Utility segments 111
    Con Edison of New York 111
    O&R 111
    Competitive energy businesses 112
    Recent financial performance 112
    Performance by business segments 114
    Growth strategies 114
    Developing energy infrastructure to sustain growth in the long term 114
    Investing in renewable energy to reduce environmental impact 115
    Acquisitions and divestments 116
    SWOT analysis 117

    CHAPTER 12 DUKE ENERGY

    Summary 120
    Company overview 121
    Utility segments 121
    US franchised electric and gas 121
    Commercial power 121
    Recent financial performance 122
    Performance by business segments 123
    Growth strategies 124
    Expanding generation capacity 124
    Strengthening its transmission network 125
    Acquisitions and divestments 125
    Acquisitions 125
    Divestments 126
    SWOT analysis 127

    CHAPTER 13 THE NEXT 10 COMPANIES: BRIEF PROFILES

    Dominion Resources 130
    Company overview 130
    Utility segments 130
    Recent financial performance 131
    Energy Future 133
    Company overview 133
    Utility segments 133
    Recent financial performance 134
    Xcel Energy 135
    Company overview 136
    Utility segments 136
    Recent financial performance 137
    Pepco Holdings 138
    Company overview 139
    Utility segments 139
    Recent financial performance 140
    CenterPoint 141
    Company overview 142
    Utility segments 142
    Recent financial performance 143
    Calpine 144
    Company overview 145
    Utility segments 145
    Recent financial performance 145
    Sempra Energy 147
    Company overview 147
    Utility segments 147
    Recent financial performance 148
    Progress Energy 149
    Company overview 149
    Utility segments 150
    Recent financial performance 151
    Ameren 152
    Company overview 153
    Utility segments 153
    Recent financial performance 154
    DTE Energy 155
    Company overview 155
    Utility segments 155
    Recent financial performance 156

    CHAPTER 14 APPENDIX

    Glossary 160
    Index 162

    LIST OF FIGURES

    Figure 2.1: Power generation in the US (TWh), 2004–08 26
    Figure 2.2: Electricity generation fuel mix (%), 2008 27
    Figure 2.3: Electricity prices in the US (cents per kWh), 1998–2008 30
    Figure 2.4: Gas production in the US (TWh), 2004–08 32
    Figure 2.5: Gas consumption in the US (TWh), 2004–08 34
    Figure 2.6: Gas prices in the US ($ per million Btu), 1998–2008 36
    Figure 2.7: Fuel mix of top 10 US utilities by type, 2008 40
    Figure 3.8: Exelon US utilities financial performance ($m), 2004–08 45
    Figure 3.9: Exelon SWOT analysis 49
    Figure 4.10: Southern Company US utilities financial performance ($m), 2004–08 55
    Figure 4.11: Southern Company SWOT analysis 58
    Figure 5.12: FPL Group US utilities financial performance ($m), 2004–08 63
    Figure 5.13: FPL Group SWOT analysis 66
    Figure 6.14: PG&E US utilities financial performance ($m), 2004–08 71
    Figure 6.15: PG&E SWOT analysis 74
    Figure 7.16: FirstEnergy US utilities financial performance ($m), 2006–08 79
    Figure 7.17: FirstEnergy SWOT analysis 83
    Figure 8.18: AEP US utilities financial performance ($m), 2004–08 89
    Figure 8.19: AEP SWOT analysis 92
    Figure 9.20: Entergy US utilities financial performance ($m), 2004–08 97
    Figure 9.21: Entergy SWOT analysis 100
    Figure 10.22: RRI Energy US utilities financial performance ($m), 2004–08 105
    Figure 10.23: RRI Energy SWOT analysis 107
    Figure 11.24: Consolidated Edison US utilities financial performance ($m), 2004–08 113
    Figure 11.25: Consolidated Edison SWOT analysis 117
    Figure 12.26: Duke Energy US utilities financial performance ($m), 2006–08 123
    Figure 12.27: Duke Energy SWOT analysis 127
    Figure 13.28: Dominion Resources US utilities financial performance ($m), 2006–08 132
    Figure 13.29: Energy Future US utilities financial performance ($m), 2006–08 135
    Figure 13.30: Xcel Energy US utilities financial performance ($m), 2004–08 138
    Figure 13.31: Pepco Holdings US utilities financial performance ($m), 2004–08 141
    Figure 13.32: CenterPoint US utilities financial performance ($m), 2004–08 144
    Figure 13.33: Calpine US utilities financial performance ($m), 2005–08 146
    Figure 13.34: Sempra Energy US utilities financial performance ($m), 2004–08 149
    Figure 13.35: Progress Energy US utilities financial performance ($m), 2004–08 152
    Figure 13.36: Ameren US utilities financial performance ($m), 2006–08 154
    Figure 13.37: DTE Energy US utilities financial performance ($m), 2004–08 157

    LIST OF TABLES

    Table 2.1: Power generation in the US (TWh), 2004–08 25
    Table 2.2: RPS targets set for select states in the US 29
    Table 2.3: Acquisitions in the US power sector, 2007–09 31
    Table 2.4: Gas production in the US (TWh), 2004–08 32
    Table 2.5: Gas consumption in the US (TWh), 2004–08 33
    Table 2.6: Investments made in gas-based power plants in the US 35
    Table 2.7: US water utility companies, 2008 37
    Table 2.8: M&A deals in the US water utilities during 2008–09 37
    Table 2.9: Top 10 US utilities based on revenues ($m), 2008 38
    Table 2.10: Top 10 US utilities based on power generation capacity (MW), 2008 39
    Table 3.11: Exelon snapshot 42
    Table 3.12: Exelon key operating parameters, 2008 44
    Table 3.13: Exelon US utilities financial performance ($m), 2004–08 45
    Table 3.14: Exelon business segments performance ($m), 2008 46
    Table 4.15: Southern Company snapshot 52
    Table 4.16: Southern Company key operating parameters, 2008 54
    Table 4.17: Southern Company US utilities financial performance ($m), 2004–08 54
    Table 4.18: Southern Company business segments performance ($m), 2008 56
    Table 5.19: FPL Group snapshot 60
    Table 5.20: FPL Group key operating parameters, 2008 62
    Table 5.21: FPL Group US utilities financial performance ($m), 2004–08 62
    Table 5.22: FPL Group business segments performance ($m), 2008 64
    Table 6.23: PG&E snapshot 68
    Table 6.24: PG&E key operating parameters, 2008 70
    Table 6.25: PG&E US utilities financial performance ($m), 2004–08 70
    Table 6.26: PG&E business segments performance ($m), 2008 71
    Table 7.27: FirstEnergy snapshot 76
    Table 7.28: FirstEnergy key operating parameters, 2008 78
    Table 7.29: FirstEnergy US utilities financial performance ($m), 2006–08 78
    Table 7.30: FirstEnergy business segments performance ($m), 2008 80
    Table 8.31: AEP snapshot 86
    Table 8.32: AEP key operating parameters, 2008 88
    Table 8.33: AEP US utilities financial performance ($m), 2004–08 88
    Table 8.34: AEP business segments performance ($m), 2008 90
    Table 9.35: Entergy snapshot 94
    Table 9.36: Entergy key operating parameters, 2008 96
    Table 9.37: Entergy US utilities financial performance ($m), 2004–08 96
    Table 9.38: Entergy business segments performance, 2008 97
    Table 9.39: Entergy acquisitions, 2007–09 99
    Table 10.40: RRI Energy snapshot 102
    Table 10.41: RRI Energy key operating parameters, 2008 104
    Table 10.42: RRI Energy US utilities financial performance ($m), 2004–08 104
    Table 10.43: RRI Energy business segments performance, 2008 105
    Table 10.44: RRI Energy divestments, 2007–09 107
    Table 11.45: Consolidated Edison snapshot 110
    Table 11.46: Consolidated Edison key operating parameters, 2008 112
    Table 11.47: Consolidated Edison US utilities financial performance ($m), 2004–08 113
    Table 11.48: Consolidated Edison business segments performance ($m), 2008 114
    Table 12.49: Duke Energy snapshot 120
    Table 12.50: Duke Energy key operating parameters, 2008 122
    Table 12.51: Duke Energy US utilities financial performance ($m), 2006–08 122
    Table 12.52: Duke Energy business segments performance ($m), 2008 124
    Table 13.53: Dominion Resources snapshot 130
    Table 13.54: Dominion Resources key operating parameters, 2008 131
    Table 13.55: Dominion Resources US utilities financial performance ($m), 2006–08 132
    Table 13.56: Energy Future snapshot 133
    Table 13.57: Energy Future key operating parameters, 2008 134
    Table 13.58: Energy Future US utilities financial performance ($m), 2006–08 134
    Table 13.59: Xcel Energy snapshot 135
    Table 13.60: Xcel Energy key operating parameters, 2008 136
    Table 13.61: Xcel Energy US utilities financial performance ($m), 2004–08 137
    Table 13.62: Pepco Holdings snapshot 138
    Table 13.63: Pepco Holdings key operating parameters, 2008 140
    Table 13.64: Pepco Holdings US utilities financial performance ($m), 2004–08 140
    Table 13.65: CenterPoint snapshot 141
    Table 13.66: CenterPoint key operating parameters, 2008 143
    Table 13.67: CenterPoint US utilities financial performance ($m), 2004–08 143
    Table 13.68: Calpine snapshot 144
    Table 13.69: Calpine key operating parameters, 2008 145
    Table 13.70: Calpine US utilities financial performance ($m), 2005–08 146
    Table 13.71: Sempra Energy snapshot 147
    Table 13.72: Sempra Energy key operating parameters, 2008 148
    Table 13.73: Sempra Energy US utilities financial performance ($m), 2004–08 148
    Table 13.74: Progress Energy snapshot 149
    Table 13.75: Progress Energy key operating parameters, 2008 150
    Table 13.76: Progress Energy US utilities financial performance ($m), 2004–08 151
    Table 13.77: Ameren snapshot 152
    Table 13.78: Ameren key operating parameters, 2008 153
    Table 13.79: Ameren US utilities financial performance ($m), 2006–08 154
    Table 13.80: DTE Energy snapshot 155
    Table 13.81: DTE Energy key operating parameters, 2008 156
    Table 13.82: DTE Energy US utilities financial performance ($m), 2004–08 157

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