Texas Power Prices Signal Grid Stress in Another Long, Hot Summer [BNN Bloomberg (Canada)]
The AES Corporation (AES)
Last the aes corporation earnings: 2/28 06:00 am
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Source: BNN Bloomberg
Traders start looking at prices months in advance to gauge the outlook for demand. Already in mid-April, August power prices for Dallas soared to $168.70 a megawatt-hour, which was the highest level in five years for this time of the year, according to Bloomberg Fair value data. Prices were still hovering around that level on Friday, an 82% premium versus a year earlier. The state's grid operator warned the same day of possible deficient power reserves from April 29 through May 1. The Texas grid repeatedly has suffered from tight electricity supplies in the past two years as extreme weather and surging power demand stress aging infrastructure. As the state becomes more reliant on renewable energy that hinges on the whims of the sun and the air, there's a rising concern about potential electric scarcity as solar power plunges at dusk. At those times — often when demand is still very strong — natural gas-fired plants and batteries need to ramp up quickly to keep the power flowing
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AES
News
- AES Agrees to Sell its Equity Interest in AES Brasil for Approximately $640 Million [Yahoo! Finance]Yahoo! Finance
- AES Agrees to Sell its Equity Interest in AES Brasil for Approximately $640 MillionPR Newswire
- InvestChile Forum Attracts Record US$9 Billion in Investment Projects [Yahoo! Finance]Yahoo! Finance
- Most shorted S&P 500 utility stocks at April end [Seeking Alpha]Seeking Alpha
- How Grid Enhancing Technologies Are Expanding Electric Power Transmission System Capabilities [Yahoo! Finance]Yahoo! Finance
AES
Earnings
- 5/2/24 - Beat
AES
Sec Filings
- 5/2/24 - Form 8-K
- 5/2/24 - Form 10-Q
- 4/29/24 - Form 4
- AES's page on the SEC website