Korea Electric Power: Multiple Headwinds Justify Historically Low P/B [Seeking Alpha]
Korea Electric Power Corporation (KEP)
US:NYSE Investor Relations:
home.kepco.co.kr/kepco/en/ntcob/list.do?boardcd=brd_000242&menucd=en03040201
Company Research
Source: Seeking Alpha
Korea Electric Power: Multiple Headwinds Justify Historically Low P/B Summary There could be downside risk to the nuclear power plants' utilization rate, as two nuclear reactors at the Hanbit Nuclear Power Plant are likely to be shut down for maintenance. While KEPCO is expected to benefit from lower fuel costs in 2H2019, this could be partially offset by higher costs associated with renewable energy certificates and carbon credits. KEPCO's balance sheet could further weaken to fund increased capital expenditures. KEPCO is pinning its hopes on a tariff rate increase, which might be challenging. KEPCO currently trades at 0.23 times P/B, representing a new seven-year historical low P/B. Elevator Pitch Korea Electric Power Corporation ( I think that KEPCO's historically low P/B valuation is justified on the basis that the company is hit by multiple headwinds. These include lower nuclear power plant utilization, higher costs associated with renewable energy certificates and carbon credits
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KEP
News
- Korea Electric Power Corporation Files 2023 Annual Report on Form 20-FPR Newswire
- Explainer: What's at stake for EDF in Czech nuclear tender? [Reuters]Reuters
- RWE wins exclusive South Korea offshore wind development rights [Seeking Alpha]Seeking Alpha
- UAE Considers Investment in European Nuclear Power Projects [Yahoo! Finance]Yahoo! Finance
- UAE signals interest in European nuclear energy investments, sources say [Reuters]Reuters
KEP
Analyst Actions
- 2/26/24 - Citigroup Inc.
KEP
Sec Filings
- 4/30/24 - Form 20-F
- 4/30/24 - Form 6-K
- 3/26/24 - Form 6-K
- KEP's page on the SEC website