“A la Bolsa española le queda todavía un impulso al alza en lo que queda de año”, cree el analista independiente José María Lerma. Durante el Consultorio de Bolsa de Capital Intereconomía, el experto también ha declarado que hay que seguir estando en banca, ya que tiene recorrido “hasta que no veamos un repunte de la morosidad". Dentro del sector turístico, José María Lerma ha querido destacar a la compañía IAG. Para el analista independiente, las constructoras lo están haciendo bien y, con la caída del precio del petróleo, Repsol podría tener un rebote. Algunos de los valores que el experto ha analizado a los oyentes que han preguntado o llamado para realizar sus consultas son: Unicredit, Santander, Iberdrola, Amazon Ercros, Fluidra, Telefónica, Repsol e Inditex.
La fine del mercato tutelato al momento è fissata al 10 gennaio 2024 per le bollette del gas e al 1° aprile per l'elettricità. Di fronte alla crisi energetica, in molti, a partire dalle associazioni di consumatori, hanno chiesto una proroga di questa scadenza, ma su questo non ci sono ancora certezze da parte del Governo. In questa puntata, oltre a riepilogare le scadenze attualmente in vigore, raccogliamo le indicazioni pratiche per gli utenti che dovranno individuare un gestore nel mercato libero. Ne parliamo con Paolo Benazzi, General Manager di SOStariffe.it e Tariffe Segugio.it.L'Autorità garante della concorrenza e del mercato ha multato per oltre 15 milioni di euro Enel Energia, Eni Plenitude, Acea, Iberdrola, Dolomiti Energia ed Edison per «pratiche commerciali aggressive». Avrebbero condizionato i consumatori «ad accettare modifiche in aumento dei prezzi dell'energia elettrica e del gas, in contrasto con la protezione normativa derivante dall'articolo 3 del Decreto Aiuti bis.In apertura di puntata dedichiamo un aggiornamento a questa vicenda collegandoci con Luigi Gabriele, presidente di Consumerismo.
En el segundo tramo de Hoy por Hoy Zamora y Benavente conocemos el nuevo Campus de Formación que Iberdrola ha creado en Ricobayo y que hoy ha visitado el Presidente de la Junta de Castilla y León. Además, nos acercamos a la poeta zamorana de la generación del 27 Margarita Ferreras, a la que se homenajea mañana en Palencia y cerramos con una campaña promocional del libro de Guti y Leticia, Memorias en Conserva hecha con mucho cariño desde Pombriego.
Las Bolsas tienen margen de subida todavía a pesar de lo que han rebotado durante las últimas semanas. En el Consultorio de Bolsa de Capital Intereconomía, Roberto Moro de Apta Negocios nos contaba que el Ibex 35 va a atacar los 9.750 puntos. Y cree que “puede ir a buscar la zona de 10.120 puntos. En el mercado español es la banca la que está propiciando este rebote”. Además ha señalado que en EEUU el Dow Jones está solamente a un 2% de sus máximos anuales. Entre los valores analizados por el experto en el Consultorio se encuentran: ACS, Iberdrola, BBVA, Prosegur Cash, Prosus, Acciona, Apple, Microsoft, Deutsche Bank o Porsche.
En este pódcast podrás encontrar información sobre empresas que apuestan por la RSE y la Sostenibilidad. Muchas veces es en forma de entrevista, pero otras también te lo contamos con reportajes.Aquí te dejamos la siguiente historia con la que conocer un caso más de cómo las empresas contribuyen al desarrollo sostenible sin dejar a nadie atrás. Espero lo disfrutes. A continuación: Oaxaca brilla iluminando su historiaTe agradecemos tus opiniones y comentarios sobre el episodio. Comparte y puntúa para que más escuchas conozca cómo las empresas trabajan a favor del Desarrollo Sostenible. Tienes más info en www.valor-compartido.com
Los rendimientos de los bonos americanos caen a mínimos de dos meses, después de que las solicitudes semanales de subsidio por desempleo aumentaran más de lo esperado la semana pasada. Ese dato ayuda a cimentar las expectativas de que la Reserva Federal no se sentirá presionada a subir las tasas de interés de nuevo para frenar la inflación. Pese a ello, índices de bolsa americanos están en rojo. Pueden más castigos corporativos. Cisco cae un 10% después de que su pronóstico generara preocupaciones de que las empresas estén reduciendo sus gastos en tecnología. Walmart se hunde más del 6% después de elevar modestamente su pronóstico de ganancias anuales, pero adopta un tono cauteloso sobre las perspectivas para los compradores estadounidenses. Alibaba se deja un 8% después de que la compañía anunciara que no procederá con una escisión completa de su unidad de servicios en la nube. En Bolsa española, y dentro de Ibex, Cellnex, Iberdrola y Solaria lideran las subidas. Al frente de los descensos, Repsol, Arcelor y Melia. Es protagonista la petrolera porque ha anunciado la venta a Amancio Ortega del 49% de una cartera de renovables por 363 millones.
Números rojos en las bolsas mundiales por primera vez en cinco sesiones. El precio del petróleo baja y el dólar experimenta un ligero repunte este jueves, mientras los mercados siguen evaluando la perspectiva de un recorte de los tipos de interés tras casi dos años de incesantes subidas. Esta jornada hay un buen puñado de valores protagonistas. En Europa, se habla de Embracer. La acción del desarrollador sueco de juegos suben un 14% gracias a resultados, mientras que Siemens gana un 5%, ya que el fabricante de software alemán alcanza un beneficio industrial mejor de lo previsto en el cuarto trimestre. HelloFresh cae con mucha fuerza tras recortar sus previsiones de beneficio operativo anual y reducir sus previsiones de crecimiento de los ingresos. En Estados Unidos, atención a Walmart. Avisa de reducción en gasto del consumidor. También a Cisco, que se desploma. En Bolsa española, y dentro de Ibex, Cellnex, Iberdrola y Solaria lideran los avances. Sacyr, Acciona Energías Renovables y Repsol se ponen al frente de las caídas. Esta hora tenemos análisis con Ignacio Cantos, de ATL Capital.
Wall Street consolida desde la apertura y extiende las subidas de ayer. Eso ha animado un poquito más la evolución al alza de índices de Bolsa europeos. Hoy, el enfriamiento de los precios de producción apoya también la opinión de que la Reserva Federal ha terminado de subir los tipos de interés. También se han conocido ventas minoristas, que caen menos de lo esperado en octubre. Y, precisamente, las minoristas son protagonistas en el parqué. La acción de Target avanza un 17% porque la cadena de grandes superficies pronostica un beneficio para el cuarto trimestre muy por encima de las expectativas, gracias a la reducción de los costes. Walgreens Boots, Nike y Disney, mejores valores en Dow. El inversor activista ValueAct Capital ha tomado una participación en la empresa de medios de comunicación, según CNBC. En bolsa española, y dentro de Ibex, IAG, Grifols y Melia se ponen a la cabeza de las subidas. Lideran los descensos Cellnex, Naturgy e Iberdrola. Los movimientos más destacados de la jornada se registran en el Mercado Continuo con el avance, superior al 20%, que se anota Prosegur. Su principal accionista, Helena Revoredo, ha lanzado OPA parcial sobre el 15% del capital. La acción se ajusta a una prima del 27%. Esta hora tenemos análisis con Manuel Pinto, de XTB.
“Hay bastante optimismo en la Bolsa española”, opina el Director de JFD Brokers España, Samuel Plaza, durante el Consultorio de Bolsa de hoy martes en Capital Intereconomía. Además, Plaza piensa que la consolidación por encima de los 9.400 puntos es la que ha traído ese optimismo. “Llevamos dos semanas consecutivas de subidas desde el suelo de los 8.900 puntos. El Ibex 35 supo aguantar el nivel de 9.200 puntos y eso sirvió de punto de partida para las subidas que estamos viviendo”, ha señalado el analista en el programa. Para Samuel Plaza, el próximo objetivo lo tiene en 9.600 puntos. Por otro lado, este analista considera que las subidas en Europa siguen la estela de lo que está pasando en los Estados Unidos. Entre los valores analizados por el especialista a los oyentes de este Consultorio de Bolsa se encuentran: BBVA, Sabadell, Wolter Kluwers, Iberdrola, CaixaBank, Roblox, Palantir, Sundial Growers, Santander, ACS, Inditex y Sacyr.
“Las Bolsas están en un impasse positivo y en un buen momento después de los días de tensión que hemos vivido en las últimas semanas.” Así lo considera el analista de Activtrades España, Javier Etcheverry, durante el Consultorio de Bolsa en Capital Intereconomía. Asimismo, el analista ha declarado que “hemos visto como el crudo por fin recupera un poco esa senda más acorde con la demanda real.” Y es que se están alcanzando esos 80,63 puntos, cifras donde suele cotizar normalmente. La semana, por tanto, viene con expectativas al alza. De hecho, la volatilidad de esta semana puede ser alta, ha explicado Etcheverry. En el caso del Ibex, “hay que vigilar que no pierda los 9.185 puntos y, por arriba, la zona a atacar son los 9.550 puntos”, opina el analista. En definitiva, lo importante es que esta semana mantenga los 9.400. Algunos de los valores que el experto ha analizado a los oyentes que han preguntado o llamado para realizar sus consultas son: Arcelormittal, IAG, Almirall, Alphabet, Microsfot, Amazon, Apple, Inditex, Iberdrola, Solaria o ACS.
“Lo más importante de esta semana es lo que nos diga Powell”. Así lo considera el analista independiente Miguel Méndez. Durante el Consultorio de Bolsa de hoy miércoles en Capital Intereconomía. Para Méndez, el mercado está mejor y las sensaciones son buenas. “Las Bolsas empiezan a tirar capitaneadas por la tecnología y los semiconductores”, ha comentado el experto. En lo relativo a la economía extranjera, el analista independiente piensa que Apple y Amazon lo están haciendo muy bien. Por último, Miguel Méndez sostiene que el mercado europeo está teniendo “un comportamiento peor” que el mercado americano. Algunos de los valores que el experto ha analizado a los oyentes que han preguntado o llamado para realizar sus consultas son: Walt Disney, Apple, Amazon, Micron Technologies, Centrica, Rheinmetall, Munich Re, Cellnex, Enagás o Iberdrola.
De lunes a jueves, los titulares del día de 2Playbook.com junto a Patricia López y Álvaro Carretero. Hoy, la pugna de las comunidades autónomas españolas por organizar grandes eventos deportivos; la batalla por gestionar un centro deportivo municipal en Madrid; la apuesta por Iberdrola como espónsor de la Billie Jean King Cup 2023 y los resultados económicos de la Fórmula 1 hasta septiembre.
In this episode of News Flash, hosts Allen Hall, Phil Totaro, and Joel Saxum discuss recent developments affecting major players in the renewable energy industry. The conversation focuses on the outlook for Danish wind energy company Ørsted after the firm canceled two major offshore wind projects in the United States, leading to credit rating downgrades. In addition, the hosts analyze the situation with German industrial giant Siemens Energy, which may require government support to backstop performance guarantees on billions of dollars worth of orders, due to issues with its wind turbine manufacturing subsidiary Siemens Gamesa. As Saxum notes, this raises the specter of Siemens Energy as a "too big to fail" company in Germany, similar to the debates over bailouts for automakers in the United States during the 2008 financial crisis. The hosts provide insight into the strategic and financial implications of these events for two renewable energy leaders. News Flash 190 Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech, and I'm here with the founder and CEO of Intelstor, Phil Totaro, and the chief commercial officer of Weather Guard, Joel Saxum, and this is your News Flash. News Flash is brought to you by our friends at Intelstor. If you need actionable information about renewable projects or technologies, check out Intelstor at Intelstor. com. Credit ratings firm Fitch changed their outlook for Ørsted from stable to negative due to U. S. offshore wind project issues. And S& P put Ørsted on a credit watch negative due to loss of value and project issues. Of course, this is all revolves around Ørsted ceasing development of Ocean Wind 1 and Ocean Wind 2 off the East Coast of the United States. Ørsted's long term credit rating remains at triple B. Plus, but Ørsted also has an impairment charge of roughly 7 billion US dollars from those cancellations. Ocean wind one cancellation fees are somewhere in the realm of two to two and a half billion dollars. So Phil. This is a big deal for Ørsted, not just because they have to cancel these projects, but it's having ramifications to the stability of the company. Phil Totaro: Absolutely. And with their market cap basically cut in half one wonders if they're, they're saying they're fine. But the reality is I don't think the market thinks they're fine. And the question is, are their customers and partners going to think they're fine? When it comes to, any kind of commercial agreements. So the, it. It begs two questions. Do they actually need support and are they going to go seek it from either Danish government or maybe the EU? Second is there's been a pretty strong rumor about that maybe a company like Equinor would step up and actually make an acquisition. Given the fact that there's still obviously value there with Ørsted, but, the reduction in their market cap actually potentially makes them more attractive at least in the near term. There's some stability that I think management needs to bring. One of the things, if we go back to the transcript of their recent earnings call from the other day. The leadership didn't exactly provide they provided factual updates about, the cancellation of the projects, the impairments, the write downs, etc. They did not necessarily provide any visibility or guidance as to their strategy. And I believe it was one of the analysts on the call representing an investment bank that actually brought that up. And it really does bear further kind of examination, where do they go from here? And how do they plan to get there? And that's a big kind of gaping hole at this moment from their leadership. Joel Saxum: Yeah, it'll be interesting to see here in the next year or so, of the juggling of the top wind asset owners in the world by valuation, right? Used to always be Ørsted, Iberdrola, Nextera, EDPR, all these big ones up there. So there's going to be some shuffles.
“El objetivo del mercado debe ser alcanzar los 9435 puntos.” Son las declaraciones del analista independiente José María Lerma durante el Consultorio de Bolsa de hoy lunes en Capital Intereconomía. Lerma ya anunció hace unos meses en este programa que no era “momento de cortos o de vender”. Asimismo, el analista considera que cuando se alcanzan niveles de 8900-9000 puntos, comienzan las opciones de entrar a comprar. “¿El objetivo por arriba? Tiene que alcanzar los 9435 puntos. Incluso los 9500 en segunda resistencia. Desde mayo tenemos lateralización y subtendencia bajista, pero es a partir de ahora, con las roturas, cuando se puede volver a la parte alta”, opina el experto. Por último, José María Lerma apuesta esta semana por la rotura de Telefónica, la cual será clave en el devenir del mercado. Según el analista independiente, “su rotura nos da impulso al alza”. Algunos de los valores que el experto ha analizado a los oyentes que han preguntado o llamado para realizar sus consultas son: Inditex, Iberdrola, Apple, Oryzon Genomics, Microsoft, Alphabet, La Caixa, BBVA o Ferrovial.
“El sentimiento de mercado ha cambiado bastante.” Son las declaraciones que ha hecho el analista de Apta Negocios, Roberto Moro, durante el Consultorio de Bolsa de hoy viernes en Capital Intereconomía. Moro ha comentado también que, hasta principios de esta semana, todos los índices habían roto soportes. “Solo dos jornadas después el mercado ha girado tras escuchar a Powell. ¿Lo que dijo justifica una subida del 5% en dos días? Yo no lo sé.” Por último, el experto de Apta Negocios sostiene que el Ibex tiene la vista puesta en los 9.300. “Su siguiente objetivo lo tiene en 9.430 puntos, dejando atrás cualquier atisbo de caída.” Algunos de los valores que el experto ha analizado a los oyentes que han preguntado o llamado para realizar sus consultas son: IAG, Santander, Enagás, Endesa, Intel, Telefónica, Deutsche Telekom, ACS, BBVA, Iberdrola, Grifols y Aena.
In der heutigen Folge „Alles auf Aktien“ sprechen die Finanzjournalisten Laurin Meyer und Nando Sommerfeldt über den unbeirrten Novo-Nordisk-Hype, die nächsten Profite bei Palantir und zwei Listen – eine für Pessimisten, und eine für Optimisten. Außerdem geht es um Beyond Meat, Lufthansa, Starbucks, Telekom, DoorDash, Delivery Hero, Just Eat Takeaway, Uber, Lyft, Live Nation Entertainment, AMC, Draftkings, Disney, Paramount, Astrazeneca, Novartis, E.ON, Iberdrola, Enel, Engie, Tesco, Unilever, Airbus, ASML, BASF, Infineon, LVMH, Prosus, Siemens, Nvidia, Alphabet, Meta, Amazon, Tesla und Microsoft. Wir freuen uns an Feedback über firstname.lastname@example.org. Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hier findet ihr alle AAA-Bonus-Episoden bei WELT – dazu den AAA-Newsletter und noch weitere WELTplus-Inhalte: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. Außerdem bei WELT: Im werktäglichen Podcast „Kick-off Politik - Das bringt der Tag“ geben wir Ihnen im Gespräch mit WELT-Experten die wichtigsten Hintergrundinformationen zu einem politischen Top-Thema des Tages. Mehr auf welt.de/kickoff und überall, wo es Podcasts gibt. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html
"Es importante la recuperación de los 9.200 puntos para el Ibex 35", ha declarado el Analista de IG España, Diego Morín, durante nuestro Consultorio de Bolsa en Capital Intereconomía. En lo relativo a las bolsas, Morín sostiene que debemos esperar para ver qué ocurre y saber hasta dónde puede llegar. Por otro lado, el analista y experto de IG España, también ha argumentado que las Bolsas europeas celebran hoy la tranquilidad en los rendimientos de los bonos tras la decisión y los mensajes de la Reserva Federal (FED). Algunos de los valores que el experto ha analizado a los oyentes que han preguntado o llamado para realizar sus consultas son: Grifols, Aena, Inditex, Iberdrola, Telefónica, Repsol, Coca-Cola, McDonald,s, ACS, Santander o CaixaBank.
It's EV News Briefly for Tuesday 31st October. I'll be back as usual at 5pm UK time, that's Midday Eastern, for the full podcast. Patreon supporters get the episodes as soon as they're ready AND ad free. You can be like them by clicking here. Ford-UAW Pact: Battery Plant Union Pathway in Focus https://evne.ws/3Qhu1uw Ford Expands Charging Network with More Tesla Superchargers https://evne.ws/3QmHnpn Chevy Equinox EV: Pricing Details and Specifications Unveiled https://evne.ws/3QfLVhb Volkswagen Teases ID 7 Tourer: The Brand's Inaugural Electric Estate https://evne.ws/47e0LM4 Porsche and Google Join Forces for Enhanced Infotainment https://evne.ws/47vRqiT VW's Cariad Software Delays Impact Porsche & Audi EVs https://evne.ws/47eeXEu Skoda Enyaq Mk2: 2028 Release with Fast Charging https://evne.ws/3tMtXer ZEEKR 001 FR EV Exceeds Expectations with Enhanced Specs and Lower Price https://evne.ws/47dtS1T Used EV Prices Expected to Drop with Corporate Lease Endings https://evne.ws/3QjC0XN EU Greenlights BP & Iberdrola's €1B Fast-Charging Venture https://evne.ws/47aIUpg BYD Announces Impressive Q3 Financials https://evne.ws/47a3h5Q CATL Unveils Rapid Battery Production Facility https://evne.ws/3QjC3CX Mack Trucks Introduces Pay-as-You-Go Electric Vehicle Financing https://evne.ws/3QEbVEg LG Chem Introduces Fire-Resistant EV Battery Material https://evne.ws/40hdWt6
Patreon supporters get the episodes as soon as they're ready AND ad free. You can be like them by clicking here. Ford-UAW Pact: Battery Plant Union Pathway in Focus https://evne.ws/3Qhu1uw Ford Expands Charging Network with More Tesla Superchargers https://evne.ws/3QmHnpn Chevy Equinox EV: Pricing Details and Specifications Unveiled https://evne.ws/3QfLVhb Volkswagen Teases ID 7 Tourer: The Brand's Inaugural Electric Estate https://evne.ws/47e0LM4 Porsche and Google Join Forces for Enhanced Infotainment https://evne.ws/47vRqiT VW's Cariad Software Delays Impact Porsche & Audi EVs https://evne.ws/47eeXEu Skoda Enyaq Mk2: 2028 Release with Fast Charging https://evne.ws/3tMtXer ZEEKR 001 FR EV Exceeds Expectations with Enhanced Specs and Lower Price https://evne.ws/47dtS1T Used EV Prices Expected to Drop with Corporate Lease Endings https://evne.ws/3QjC0XN EU Greenlights BP & Iberdrola's €1B Fast-Charging Venture https://evne.ws/47aIUpg BYD Announces Impressive Q3 Financials https://evne.ws/47a3h5Q CATL Unveils Rapid Battery Production Facility https://evne.ws/3QjC3CX Mack Trucks Introduces Pay-as-You-Go Electric Vehicle Financing https://evne.ws/3QEbVEg LG Chem Introduces Fire-Resistant EV Battery Material https://evne.ws/40hdWt6
"Estamos rompiendo soportes importantes", ha señalado el analista de Apta Negocios, Roberto Moro, durante el Consultorio de Bolsa de hoy jueves en Capital Intereconomía. Siguiendo con el devenir del Ibex-35, el analista considera que se están empezando a darse los condicionantes para que veamos un cambio de tendencia en las Bolsas. Por otro lado, Roberto Moro piensa que estamos rompiendo soportes importantes también en el caso del Nasdaq. "Si el Nasdaq pierde los 14.520 puntos podemos tener un escenario de continuidad bajista en los mercados, ha declarado el experto. Por último, el analista de Apta Negocios cree que "las cosas se están empezando a deteriorar un poco en la economía mundial." Entre los valores analizados por el especialista a los oyentes de este Consultorio de Bolsa se encuentran: LVHM, Alphabet, Ipsen, Telefónica, Merlin Properties, Inditex, Iberdrola, IAG, Repsol
Otra sesión dura para los activos de riesgo. Las caídas superan el 1% en Nasdaq por la caída de las acciones tecnológicas. El mercado asimila, además, datos económicos sólidos en Estados Unidos. El gasto en consumo, gracias a altos salarios, lleva al PIB de EE.UU. a su mejor crecimiento desde la recuperación de la pandemia. Se ve también un sólido crecimiento de las órdenes de bienes duraderos en septiembre. Protagonista en Europa el BCE y la pausa que se toma en su ciclo de subidas de tipos de interés. Lagarde insiste que los mantendrá altos por un tiempo suficientemente largo. Y los resultados empresariales, que dejan mal sabor de boca, principalmente en tecnología, echan por tierra cualquier intento de rebote. Hay otros valores protagonistas en bolsa americana. Entre ellos, Hasbro y Mattel. Caen por la creciente preocupación sobre la demanda de juguetes durante las compras navideñas. Mastercard, que prevé un menor crecimiento de los ingresos por temores a una desaceleración económica. En Bolsa española, cuentas corporativas mueven los títulos de Fluidra, Repsol, Sabadell e Iberdrola, entre otros. Preguntaremos por ello a Roberto Ruiz Sholtes, de Singular Bank.
Bestinver ha presentado en exclusiva en Radio Intereconomía su Carta Trimestral para los Inversores después de cerrar el tercer trimestre con una rentabilidad ponderada de sus fondos de renta variable del 17,7% y del 3,2% en los de renta fija. Jorge Fuentes, gestor de renta variable internacional de Bestinver, ha explicado en Capital Intereconomía que la apuesta pasa por “comprar negocios sólidos a valoraciones atractivas” con una estrategia de inversión basada en la compra de “empresas líderes, bien gestionadas y con balances saneados” En cuanto a nombres propios este trimestre destacan la compra de Iberdrola y la venta de CIE Automotive, así como el aumento del peso en BBVA y Técnicas Reunidas y la reducción en Inditex o CaixaBank. En la parte internacional los principales movimientos son la reducción de peso en Rolls Royce y la salida de HSBC. Por otro lado Bestinver aumenta el peso en Heineken y Vallourec. Sobre los próximos movimientos de los bancos centrales, Fuentes cree que “la parte más dura de este ciclo de subidas ya está superada”, aunque señala que los datos macroeconómicos serán “determinantes” en las próximas reuniones de la FED y del BCE.
Top Global Renewable Energy Stocks. Plus great Australian ESG stocks, and the best global ethical banks ‘leading the ESG revolution' Transcript & Links, Episode 116, October 20, 2023 Hello, Ron Robins here. So, welcome to this podcast episode 116 titled “Top Global Renewable Energy Stocks.” It's presented by Investing for the Soul. Investingforthesoul.com is your site for vital global ethical and sustainable investing mentoring, news, commentary, information, and resources. And look at my newly revised website at investingforthesoul.com! Tell me what you think. Now, remember that you can find a full transcript, and links to content – including stock symbols and bonus material – on this episode's podcast page located at investingforthesoul.com/podcasts. Also, a reminder. I do not evaluate any of the stocks or funds mentioned in these podcasts, nor do I receive any compensation from anyone covered in these podcasts. Furthermore, I will reveal to you any personal investments I have in the investments mentioned herein. Additionally, quotes about individual companies are brief. Please go to this podcast's webpage for links to the actual articles for more company and stock information. Also, some companies might be covered more than once and there are also 2 article links below that time didn't allow me to review them here. ------------------------------------------------------------- Top Global Renewable Energy Stocks I'm beginning this podcast with an article on likely your favorite industry. The article is titled Top 20 Renewable Energy Companies in the World. It's by Sobiya Fahad and found on finance.yahoo.com. Here's some of what Mr. Fahad says about these stocks. “To determine the top renewable energy companies we have included information regarding market capitalization, generating capacity, and number of employees for each company… We have ranked the companies based on their market capitalization. 20. Canadian Solar (NASDAQ:CSIQ) Market Capitalization (Billion USD): $1.50 Generating Capacity (GW): 19 GW No. of Employees: 13,487 Specializing in the design and manufacturing of solar photovoltaic modules… Canadian Solar serves customers in over 160 countries. 19. Jinko Solar Holding Co. Ltd. (NYSE:JKS) Market Capitalization (Billion USD): $1.51 Generating Capacity (GW): 32.5 GW No. of Employees: 31,030 Jinko Solar boasts customers throughout the US, Europe, Asia, Africa, and Latin America. The Chinese solar energy company manufactures and sells solar products such as silicon ingots, wafers, cells, and modules and provides solar system integration services. 18. Plug Power Inc (NASDAQ:PLUG) Market Capitalization (Billion USD): $3.93 Generating Capacity (GW): 2.5 GW No. of Employees: 3,353 Plug Power, a crucial player in the hydrogen fuel cell sector, is one of the best renewable energy companies in the world… the company has partnered with major corporations such as Amazon, Walmart, and Home Depot to deploy its fuel cell technology in over 40,000 vehicles worldwide. 17. Suzlon Energy (NSE:SUZLON) Market Capitalization (Billion USD): $4.29 Generating Capacity (GW): 20 GW No. of Employees: 5,800 One of India's top renewable energy companies, Suzlon Energy, develops, manufactures, sells, and installs wind turbines and solar panels… with operations in over 30 countries. 16. Siemens Gamesa Renewable Energy SA (NASDAQ:GCTAF) Market Capitalization (Billion USD): $12.93 Generating Capacity (GW): 12 GW No. of Employees: 27,604 Siemens Gamesa is a global leader in renewable energy and offers a diverse range of equipment and services for onshore and offshore wind turbines, turbine gearboxes, and off-grid systems. 15. Brookfield Renewable Partners (NYSE:BEP) Market Capitalization (Billion USD): $13.47 Generating Capacity (GW): 31 GW No. of Employees: 3,400 Based in Canada but operating global projects, Brookfield Renewable owns and operates… hydroelectric, wind, solar, distributed generation, and storage facilities. 14. Enphase Energy (NASDAQ:ENPH) Market Capitalization (Billion USD): $15.57 Generating Capacity (GW): 7.8 GW No. of Employees: 2,821 With expertise in designing and manufacturing solar micro-inverters, battery energy storage, and EV charging stations for residential customers, Enphase Energy, Inc. has made a name for itself in the American renewable energy sector. 13. First Solar (NASDAQ:FSLR) Market Capitalization (Billion USD): $16.15 Generating Capacity (GW): 6.5 GW No. of Employees: 5,500 First Solar is an American solar technology company and global provider of responsibly produced, eco-efficient solar modules advancing the fight against climate change. 12. Adani Green (NSE:ADANIGREEN) Market Capitalization (Billion USD): $18.51 Generating Capacity (GW): 8.3 GW No. of Employees: 500 Adani Green Energy Limited is an Indian renewable energy company, which develops, builds, owns, operates, and maintains utility-scale grid-connected solar and wind farm projects, with a current project portfolio of 20,434 MW. 11. Orsted A/S (CPH:ORSTED) Market Capitalization (Billion USD): $20.51 Generating Capacity (GW): 15.1 GW No. of Employees: 6,836 Orsted A/S, a global leader in offshore wind, has established wind farms in… the UK, the US, Germany, and Taiwan… The company aims to achieve carbon neutrality by 2025 and demonstrates its unwavering commitment to environmental stewardship. 10. Vestas (CPH:VWS) Market Capitalization (Billion USD): $21.25 Generating Capacity (GW): 13.1 GW No. of Employees: 29,427 The Danish wind energy company… is one of the top renewable energy companies globally. 9. Constellation Energy Corporation (NASDAQ: CEG) Market Capitalization (Billion USD): $33.73 Generating Capacity (GW): 33 GW No. of Employees: 13,370 Constellation Energy is an energy company based in Baltimore… The company strives to provide a diverse range of energy services, including electricity, nuclear, and natural gas, to businesses, residents, and public sector customers. 8. Exelon Corp (NASDAQ:EXC) Market Capitalization (Billion USD): $36.87 Generating Capacity (GW): 31 GW No. of Employees: 19,063 Exelon Corporation is a leading American energy company. The company has a portfolio of renewable energy assets that includes wind, solar, and nuclear power. 7. ELECTRICITE DE FRANCE (NYSE:EDF) Market Capitalization (Billion USD): $56.09 Generating Capacity (GW): 3.6 GW No. of Employees: 171,490 Known for its generation, transmission, distribution, supply, trading and provision of energy services, Electricite de France SA (EDF) is a comprehensive energy company. It produces electricity from various sources, including nuclear, hydroelectric, gas, fuel oil, coal, and renewable energy. 6. Enbridge (NYSE:ENB) Market Capitalization (Billion USD): $67.26 Generating Capacity (GW): 5.18 GW No. of Employees: 11,100 Enbridge Inc., headquartered in Calgary, Alberta, Canada, owns and operates a vast network of pipelines across North America, transporting crude oil, natural gas, and natural gas liquids. The company also generates renewable energy. 5. Iberdrola SA (BME:IBE) Market Capitalization (Billion USD): $68.12 Generating Capacity (GW): 41.25 GW No. of Employees: 38,702 Iberdrola is a Spanish multinational electric utility company… It specializes in clean energy, such as onshore and offshore wind, pumped hydro, solar photovoltaic, and battery storage. 4. Equinor (NYSE:EQNR) Market Capitalization (Billion USD): $93.84 Generating Capacity (GW): 18.5 GW No. of Employees: 22,000 A Norwegian multinational energy company, Equinor, has a growing presence in renewable energy. The company has set a goal of becoming net-zero by 2050. 3. NextEra Energy (NYSE:NEE) Market Capitalization (Billion USD): $106.81 Generating Capacity (GW): 58 GW No. of Employees: 15,300 NextEra's diversified energy company generates and sells electricity wholesale to retail and municipal electricity providers, industrial corporations, and power cooperatives. It invests heavily in renewable energy. 2. General Electric (NYSE:GE) Market Capitalization (Billion USD): $117.28 Generating Capacity (GW): 60 GW No. of Employees: 172,000 GE is one of the largest American multinational corporations and a Fortune 500 company. GE operates in multiple industries, including healthcare and aviation, but is best known for its power and renewable energy innovations. 1. Tesla (NASDAQ:TSLA) Market Capitalization (Billion USD): $782.48 Generating Capacity (GW): 6.9 GW No. of Employees: 127,855 Tesla Energy Operations, Inc. is the renewable energy division of Tesla, Inc. that develops, manufactures, sells, and installs photovoltaic solar energy generation systems, battery energy storage products, and other related products and services to residential, commercial, and industrial customers.” End quotes. ------------------------------------------------------------- Three Australian ESG stocks worth watching This next article is from Australia, but features stocks that non-Australians might also like to consider for their portfolios. It's titled Three ESG stocks worth watching and is by Grady Wulff. It's seen on moneymag.com.au. Here's some of what Mr. Wulff says about his picks. “1. Woolworths (ASX:WOW) The supermarket giant has taken significant ESG actions from both environmental and social perspectives such as replacing its petrol-fuelled delivery fleet with electric vehicles to reduce carbon emissions and the launch of Mini Woolies, a program supporting the education and skills of young Australians with disabilities… The dilution of Woolworths' association with gambling, alcohol and tobacco was a major step in achieving the company's ESG goals. Morgans recently upgraded Woolworths to a buy rating while Citi and UBS also have respective buy ratings on the supermarket giant on the back of strong FY23 results, particularly earnings growth in Australian Food. 2. Perpetual (ASX:PPT) The Perpetual Private Investment research team is accountable for the Responsible Investment related reporting and reviewing of all Perpetual Private portfolios which includes ensuring that all ESG factors are appropriately considered throughout the entire investment process… Furthermore, Perpetual offers thematic investing options that enable clients to align their portfolios with ESG elements that resonate most with their objectives. The global financial services firm is also a signatory to the United Nations-supported Principles for Responsible Investment (UNPRI) to incorporate ESG issues into all investment analysis and decision making. 3. Transurban Group (ASX:TCL) Operates a diversified suite of Australian toll road assets and toll roads in Northern Virginia in the United States, has also been a popular investment choice among investors and brokers for its ESG commitments. Transurban boasts ESG-related awards and recognition from the Workplace Gender Equality Agency of Australia, Equileap and the Ethibel socially responsible investment register. It's also had an MSCI ESG Rating of AAA for the past five years and it became the first ASX20 company to be validated by the Science Based Targets initiative… UBS and Macquarie both have buy ratings on Transurban and the company's shares are up 16% over the last five years. In the recent high inflationary environment companies like Transurban have been the beneficiaries of rising inflation as it has an inflation-linked revenue stream with annual escalators through toll road concessions being inflation-linked.” End quotes. ------------------------------------------------------------- 2023's Top 10 Ethical Banks Leading the ESG Revolution Next, I have this article on ethical banks around the world, titled 2023's Top 10 Ethical Banks Leading the ESG Revolution. It's by Louis Thompsett and found on fintechmagazine.com. Here are some of Mr. Thompsett's comments. “10. Lloyd's Bank Lloyd's Bank is enabling its different divisions to build an inclusive society and support the transition to a low-carbon economy. 9. Deutsche Bank Leading German financial institution Deutsche Bank places its commitment to the environment in supporting its financing and advising clients on a path to meet the Paris Agreement on Climate Change. 8. DBS Bank Singapore's DBS Bank is the first in the country to sign up for the Net-Zero Banking Alliance, a dedicated alliance to realise a net-zero future by 2050 or sooner. 7. Bank of America One of the largest national banks in the US, Bank of America has a series of ESG initiatives that make it one of the most important banks when it comes to ESG. 6. Barclays Another leading UK bank, Barclays has its own ESG Resource Hub – a central website page of information and disclosures to ensure transparency for analysts, ESG investors, rating agencies, suppliers and other stakeholders. 5. JPMorgan One of the oldest and most successful investment banks, JPMorgan aims to promote sound governance, and serve its customers and communities, all while investing in its employees' growth and advancing sustainable development. 4. HSBC Global banking organisation HSBC manages a robust ESG programme, focusing on sustainability risk, climate strategies, and people and communities – all overseen by its leadership and governance structure. 3. Citi Citi Bank differentiates itself in the ESG space, centralisng ESG as a core part of its business – not issues managed by separate company entities. 2. Standard Chartered Leading bank Standard Chartered offers a robust sustainable investment programme for its clients, which it can tailor to match a company's personal values. 1. BNP Paribas Top of our list is BNP Paribas, which adopts an ESG-first approach across its investment strategies.” End quotes. ------------------------------------------------------------- Articles from the UK 1. Title: Which? reveals Britain's greenest banks on which.co.uk. By Chiara Cavaglieri. 2. Title: Sustainable funds to invest in on moneyweek.com. By Holly Thomas. ------------------------------------------------------------- Ending Comment Well, these are my top news stories with their stock and fund tips -- for this podcast titled: “Top Global Renewable Energy Stocks.” Now, please be sure to click the like and subscribe buttons on Apple Podcasts, Google Podcasts, or wherever you download or listen to this podcast. That helps bring these podcasts to others like you. And please click the share buttons to share this podcast with your friends and family. Let's promote ethical and sustainable investing as a force for hope and prosperity in these very troubled times! Contact me if you have any questions. Thank you for listening. And, again, please look at my new totally revised website at investingforthesoul.com. Tell me what you think! Talk to you next on November 3rd! Bye for now. © 2023 Ron Robins, Investing for the Soul
"El mercado está más pendiente de la geopolítica y del conflicto en Oriente Medio que de los resultados empresariales", ha declarado el analista independiente Miguel Méndez durante el Consultorio de Bolsa de hoy. Además, Méndez sostiene que los datos macro están siendo buenos, pero eso puede hacer que la Fed mantenga los tipos altos durante más tiempo. De igual manera, el analista cree que los inversores están buscando activos de calidad, entre los que destaca el sector asegurador. "El oro y el sector solar también lo están haciendo bien esta semana". En cuanto al Ibex 35, Méndez considera que sigue lateral. "Mientras no pierda los 9.150 puntos no hay que vender", ha aconsejado. Entre los valores analizados por el especialista se encuentran: Mapfre, Acciona Energía, Iberdrola, BBVA, Infineon, Peabody Energy, Asos, Pulte Group, Adidas y ASML Holding.
Iberdrola is at the forefront of the renewable energy revolution. Galán has led the company for over twenty years and has transformed the company into a global leader. Why is this transition going so slowly, what new technologies does he believe in, and where does he get his energy from? Tune in!The production team on this episode were PLAN-B's Nikolai Ovenberg and Niklas Figenschau Johansen. Background research was done by Sigurd Brekke and portfolio manager Stein Birkeland. Hosted on Acast. See acast.com/privacy for more information.
El mercado español afronta un cuarto trimestre “totalmente sólido y fuerte”. El analista José María Lerma asegura que, aunque “no hay que vender la piel del oso antes de cazarlo” el Ibex puede alcanzar la cota de los 9.800-10.000 puntos. En el Consultorio de Bolsa, el experto ha citado algunas compañías españolas con un precio interesante como Iberdrola, Repsol, ACS o el sector bancario. Al que, dice Lerma- le queda recorrido. Y más allá de nuestras fronteras destacaba Tesla, Amazon, Microsoft e Intel.
"El mercado en el corto plazo va hacia arriba". Son las declaraciones del analista independiente Miguel Méndez durante el Consultorio de Bolsa de hoy. El experto también ha comentado que el conflicto en Oriente Medio ha provocado la subida del precio de los bonos. "El petróleo también sube, pero no se ha disparado", sostiene Méndez. En otro orden de cosas, Miguel Méndez cree que la Fed "ha cogido miedo por lo que estaba pasando por los bonos", por eso ha cambiado el discurso y apuesta ahora por no subir más los tipos de interés. En palabras del analista independiente, esta estrategia le ha gustado al mercado. Entre los valores analizados por el experto a los oyentes del programa se encuentran: Santander, Iberdrola, Alphabet, BBVA, Microsoft, Coca Cola, IAG.
"Los mercados venden antes de pensar y se toman los conflictos como un shock", ha analizado el experto de GPM Sociedad de Valores, Javier Alfayate. Además, el analista sostiene que el entorno ya "era complicado, pero si ahora le sumamos lo que está pasando en Oriente Medio, eso está ahondando en ese inicio de tendencia bajista que ya estábamos viendo en Europa". La situación perjudica a las aerolíneas por la subida del precio del crudo que se podría mantener alto y, según Alfayate, es favorable para petroleras y compañías de defensa. Por último, el experto opina que se debe estar en compañías que sean sensibles a este entorno de tipos de interés altos. Entre los valores analizados por el experto a los oyentes del programa se encuentran: IAG, Ferrovial, Logista, Iberdrola, Inditex, Aixtron, Centrica, Lotus Bakeries, Nestle o Cellnex.
"Hay más motivos para el pesimismo que para el optimismo ahora mismo en el mercado", ha declarado el analista de Apta Negocios, Roberto Moro, en el Consultorio de Bolsa de hoy. Además, también opina que todos los índices han roto soportes importantes y siguen por debajo. El único que aguanta sin perderlo, según el analista, es el Nasdaq. “Hasta que no pierda los 14.600 puntos no vamos a ver caídas importantes”, sostiene Moro. Por otro lado, el analista de Apta Negocios cree que el Dow Jones y el S&P500 son bajistas ahora mismo. Finalmente, Moro piensa que “el Ibex ha tenido un movimiento peligroso al perder los 9.200 puntos y ha roto la directriz alcista que viene desde marzo”. Entre los valores analizados por el experto se encuentran: Iberdrola, Acciona, Atos, Amazon, ASML Holding, Red Eléctrica, Fluidra, Neste y Soltec.
"El siguiente nivel para el Ibex 35 son los 9.000 puntos, una vez que ha perdido los 9.200 puntos", ha anunciado el analista de IG España Diego Morín en el Consultorio de Bolsa de hoy. Si los pierde, sostiene, "se podrían complicar las cosas". Morín también ha comentado que el mercado de bonos está metiendo mucha presión a las Bolsas. "Es probable que sigamos viendo ventas en la renta variable y que tengamos un final de año bastante volátil, como está indicando el VIX". Entre los valores analizados por el especialista se encuentran: Rivian, Zoom Vídeo, Academy Sport Outdoors, Pharmamar, Zoetis, IAG, Acciona, Ence, Grifols, Pfizer e Iberdrola.
"Queda poco para que haya un rebote, a pesar de que haya mucha negatividad en el mercado", ha afirmado hoy el analista independiente Miguel Méndez en el consultorio de bolsa de hoy. También ha considerado que los 9.000 puntos del Ibex 35 están en riesgo. "Hasta ahora, la Bolsa española se ha comportado mejor que otras por la banca". Por otro lado, Miguel Méndez sostiene que el Dax ha perdido los 15.000 puntos y que hay mucha negatividad en el mercado. "El horizonte de tipos de interés alto asusta a las compañías endeudadas. Creo que queda poco para que haya un rebote, aunque haya más caídas." Por último, Méndez cree que aún quedan dos o tres sesiones complicadas, por lo que, en este escenario, apuesta por los sectores que más han caído, como la tecnología y valores defensivos. Entre los valores analizados por el especialista se encuentran: Iberdrola, Acciona, Acciona Energía, Zoom Vídeo, Palantir, Inditex, Cellnex, Enagás, Deutsche Telekom y Pharmamar.
"En las Bolsas vemos que el VIX está empezando a despertar". Así lo ha afirmado el Responsable de ActivTrades España en nuestro consultorio de bolsa de hoy. El analista también considera que empieza a haber más volatilidad y que eso obedece a que "hay más apetito por el riesgo y más ganas de invertir". "Soy optimista en el corto plazo. Octubre suele ser un mes en el que se dan movimientos bastante amplios," nos ha indicado el experto. Por otro lado, Etcheverry opina que la inestabilidad en Europa y en Estados Unidos está provocando que, en zonas como Asia-Pacífico, se está despertando la fiebre por invertir en oro, aunque creo que todavía le queda algo de corrección. Entre los valores analizados por el experto se encuentran: IAG, Grifols. Solaria, Iberdrola, Mapfre, Simens Energy, Acciona y Unicaja.
Welcome to The Hydrogen Podcast!In episode 250, KBR gets a big win with HyNet and could hydrogen be a $328 billion market by 2030. I'll go over all of this and give my thoughts on today's hydrogen podcast.Thank you for listening and I hope you enjoy the podcast. Please feel free to email me at email@example.com with any questions. Also, if you wouldn't mind subscribing to my podcast using your preferred platform... I would greatly appreciate it. Respectfully,Paul RoddenEPISODE SPONSOR:From water electolyzers to flow batteries and fuel cells, Nafion™ Proton Exchange Membranes play a major role in advancing the Hydrogen Economy. Through their high conductivity, superior strength, and chemical durability,Nafion™ membranes provide the performance needed to make green hydrogen safer, more sustainable, and more affordable. Learn how Nafion™ ion exchange materials support the decarbonization of energy across the globe at www.nafion.com. VISIT THE HYDROGEN PODCAST WEBSITEhttps://thehydrogenpodcast.comDEMO THE H2 ADVANTAGEhttps://keyhydrogen.com/hydrogen-location-analytics-software/ CHECK OUT OUR BLOGhttps://thehydrogenpodcast.com/blog/WANT TO SPONSOR THE PODCAST? Send us an email to: firstname.lastname@example.orgNEW TO HYDROGEN AND NEED A QUICK INTRODUCTION?Start Here: The 6 Main Colors of Hydrogen
Las bolsas europeas mantienen el tono positivo tras las pérdidas iniciales en la apertura a pesar de los datos económicos más débiles de lo esperado en Alemania o Francia. “El Ibex está un poco menos débil que el Dax gracias al buem comportamiento de Telefónica, Iberdrola, ACS y los bancos”, opina Miguel Mendez, el analista encargado de resolver en directo las dudas de los oyentes durante el Consultorio de Bolsa. El experto recomienda “aprovechar los rebotes” para “vender y aumentar la liquidez”. En ese sentido recuerda que hay compañías como Sanofi, Lotus Bakeries y Hannover Rueck como opciones de entrada. “Tras la corrección habría que mirar a valores como LVMH y Ferrari”, añade Méndez. Durante el Consultorio, Migue Méndez ha analizado compañías como United Rentals, Microchip Technologies, Fuelcell Energy, Cellnex o Estée Lauder.
El Foro Internacional de Fondos Soberanos termina su cita anual en Madrid. Entre los fondos soberanos que agrupa la organización destacan Mubadala de Abu Dabi, accionista mayoritario de Cepsa; Qatar Investment Authority, que cuenta con el 8,7% de Iberdrola o el 25,1% de IAG; y el singapurense GIC con participaciones en Cellnex. En total cuentan con un patrimonio estimado de 5,6 billones de dólares y Cofides es el representante español en este foro. Su director general, Miguel Tiana, ha explicado en Capital Intereconomía que estos fondos son inversores que se centran mucho en el largo plazo. “Tienen una capacidad de inversión muy elevada y además una estrategia de inversión en la que les preocupan más las tendencias de largo plazo que las de corto plazo”. Estos fondos son pieza clave en el accionariado de muchas cotizadas europeas y españolas y según explica el director general de Cofides “siguen teniendo apetito por la economía española y por las empresas españolas”.
Roberto Moro, en el Consultorio de Bolsa ha destacado las compañías en las que se está apoyando el Ibex 35 para mantener el soporte de los 9.200 puntos. “Son Telefónica, Inditex, Iberdrola, Repsol, Ferrovial y los bancos”, ha dicho el analista que además ha señalado la situación del Dax y del Eurostoxx me preocupa algo más si pierden los 15.470 puntos y los 4.210 respectivamente. En ese caso, ha señalado, se podría varía la tendencia lateral que traen desde abril. Entre los valores analizados durante el Consultorio están Intel, IAG, Amazon, Apple, Telefónica, Repsol, Munich Re, Shell, Ferrari.
In this episode, Maine State Senator Nicole Grohoski discusses an upcoming ballot measure that gives Maine voters the opportunity to replace the state's unpopular for-profit utilities with a nonprofit public utility.(PDF transcript)(Active transcript)Text transcript:David RobertsMaine's two big investor-owned power utilities — Central Maine Power and Versant Power — are not very popular. In fact, they boast among the lowest customer satisfaction scores of any utilities in the country, perhaps because their customers face some of the nation's highest rates, suffer more and longer outages than average Americans, and pay more to connect rooftop solar than ratepayers in almost any other state. This November, Mainers will vote on a radical alternative: a ballot measure to replace the two for-profit utilities with a single nonprofit utility that would be called Pine Tree Power. Maine and many other states already have lots of small nonprofit municipal utilities, but this would mark the first time a whole state with existing private utilities decided to make them public en masse.Naturally the utilities are opposed and have dumped $27 million and counting into a campaign to crush the measure; supporters have mustered just under $1 million. To discuss this David vs. Goliath fight, I contacted one of its champions, Democratic state Senator Nicole Grohoski. We discussed why she thinks a public utility would perform better, what it would do for clean energy, how it would be governed, and what other states can learn from the effort. With no further ado, Maine State Senator Nicole Grohoski. Welcome to Volts. Thank you so much for coming.Nicole GrohoskiThank you so much for having me. I'm thrilled to be with you today.David RobertsI am super excited to talk about this issue. There's a lot of ins and outs I want to cover, but maybe let's just start with a brief history of this thing. So the idea here is, as I said in the intro, to replace Maine's two big investor-owned utilities, Central Maine Power and Versant Power, with a single publicly owned main utility called Pine Tree Power. Tell me who first had that idea? Where did it first pop up? I know it was legislation and then it got vetoed. Just tell us a little bit about how we got to where we are now.Nicole GrohoskiThe history is really interesting, and I'll try to not spend too much time on it, but I think it's really important to start with the reality here in Maine as a backdrop. So a couple of things that are important to know for listeners is that we, as Mainers, find that our electricity isn't really affordable or reliable and our utilities aren't trustworthy. So we have, for many years running now, the worst customer satisfaction in the country, some of the highest rates in the country for electricity, and those just keep going up. We have experienced a 20% increase this summer, with another increase coming in January.And we also have the most frequent outages in the country. And there are a couple of other reliability metrics that we're not doing so well on, including the length of outages and how long it takes to restore power. So basically what we see here in Maine is that the status quo of these for-profit multinational corporations is just not working for us. About a tenth of our residents in Maine received disconnection notices earlier this year because they just couldn't afford to pay their bills. And it's not working for companies or big corporations that really rely on low cost and reliable electricity to compete.So that's kind of the background. So a number of us were wondering, does it have to be this way? Is there an alternative to worst of the worst? We are Maine, we are very proud and independent, and we like to be leading, but this is not the way that we wanted to be leading. So there was a lot of grassroots pressure. In 2017 we had a big storm, and the power was out for days. But at the same time, there was a billing fiasco, which resulted in billing errors for over 100,000 customers, which is in a state of 1.3 million people, that's a very big percent.So there was a lot of pressure, a lot of phone calls to legislators, to the Public Utilities Commission, to the public advocate about these utilities. And so I think that really planted a seed for a number of folks. Specifically, Maine's first public advocate pointed out to some members of the legislature, including Representative Seth Barry at the time, myself, and a few others, that there were other options and that the financial and local control aspects of those options might be really helpful for Maine. So we started meeting in 2019 with the previous public advocate, economists, labor, legislators, people that were part of a group called CMP Ratepayers Unite.And that's when we formed this idea of creating a consumer-owned utility for Maine that would be non-profit and similar to the ten other consumer-owned utilities we have in Maine. I don't know that we had a name for it at that time, but we do now call it the Pine Tree Power Company. So those were the early days. And then to sort of fast forward, the Legislature commissioned a study which was done by London Economics International in 2019 to learn more about the economics and also legal pathway here. Then, of course, 2020, everybody knows what happened then, things kind of went on pause. And then in 2021, we wrote a bill. And that bill passed in both chambers in Maine with bipartisan support. As you mentioned, the governor did veto that bill.David RobertsAnd that bill was to create the utility or to put the question to voters.Nicole GrohoskiThat bill put the question to voters, and it's very similar to the language that we'll be voting on this November. So we did revise the language based on some feedback from the governor, and that is the language that is now in front of us to vote on this November, November 7. And in order to get the question on the ballot we had hundreds of volunteers working together to collect around 80,000 signatures in total, which is a little bit above the requirement needed to get a question on the ballot in Maine.David RobertsI'm a little curious why — this is a Democratic Governor Mills. What was her rationale? I mean, I guess I can imagine her rationale for opposing the public utility, but what was her rationale for opposing asking voters what they thought? Did she have a good rationale?Nicole GrohoskiNot in my opinion. I'm sure in her opinion it was great. But we read the veto letter for the most part. There was very little in there that was substantive. Some of those minor changes that we made are all things that we would have happily made in advance had we had outreach from her office about them. You know, the unfortunate thing with governors in Maine is that we have yet to elect one that has campaigned using our clean elections, publicly funding campaign option, which is something that most legislators use. So you can draw your own conclusions there about the — money in politics may have been at play.I can't say for certain.David RobertsYeah, we should just make a note here because a couple of podcasts we've done here on Volts are about state laws prohibiting utilities from using ratepayer money to lobby and pay off politicians. Maine does not have one of those laws.Nicole GrohoskiWell, we actually did just pass a law. We were one of four states earlier this year to be sure that ratepayer dollars are not going for lobbying. You know, industry membership, group memberships.David RobertsOh, interesting.Nicole GrohoskiYou know, Edison Electric, for instance, Chambers of Commerce, et cetera. So that is a new law. It will be in effect in about a month. So we'll see if that improves things.David RobertsJust in time or actually just a smidge too late. So the bill of particulars here then, against these two utilities, as you say, they have really low ratepayer satisfaction scores, lots of power outages, more than usual, higher rates, some of the highest rates in the country. Like every state, Maine has a Public Utility Commission that is meant to regulate its utilities. That has members appointed by the governor or elected? I'm not sure how it goes in Maine.Nicole GrohoskiIn Maine, the commissioners are appointed and then subject to Senate approval.David RobertsSo why not just use the PUC to sort of get these utilities in line? That seems like it would be the sort of first order of business.Nicole GrohoskiIt's a great question. I mean, I think everyone kind of wants to default to using the systems we have in place, but I have a couple of thoughts about that. Our Public Utilities Commission I do think is full of folks who are hardworking and really trying to get under the hood with utilities. But there's a lot of information there that the utilities really understand best. And so when you have questions, you're going to ask the utilities and there is sort of a long term back and forth relationship there. Some people might call how that turns into regulatory capture sometimes.Additionally, we do have the ability to fine the utilities if they're not performing up to snuff and that has happened. It doesn't happen that often, and the most recent fine, I think was around $10 million. At the same time they had a significant rate increase and are pulling out over $100 million in profit every year. So it's not really proportional and we could theoretically increase those fines a bit. But there is hesitance. I think the legislature has interest in doing some of that but the utilities are of course not interested and I think we would see another veto pen action is my guess.But all that being said, this effort to create a consumer utility has led to a lot of us just digging down into what is the history of utilities in this country and regulation. And what we found is that utilities are natural monopolies so it makes sense for there to be regulation because there isn't competition. But the folks who sort of started the effort to create public utilities commissions were those who were going to be regulated. And so there has been this hand in glove relationship since the start around the regulators and the regulated.David RobertsIt's not ideal.Nicole GrohoskiThat's probably a subject of a whole other podcast but —David RobertsIt doesn't work quite like you would want it to.Nicole GrohoskiExactly. And additionally, I would say I have recently been talking to folks in other states and other people have served as public advocates. And what I find remarkable is the backflips and cartwheels that we go through with regulation to try to outfox the utilities when, by no fault of their own, the investor owned utilities are created with their number one mission to be maximizing repair profit. So it's like we could keep trying to think of creative and clever ways to balance this out. But at the end of all of it, I keep coming back to the fact that we don't have our roads, which are critical to our economy and our safety and our way of life in the private sector; and nor are our schools, nor is our military.Why does it make sense for something as important as our electricity grid to be subject to for-profit motivations?David RobertsListeners will be rolling their eyes right about now because this is something I say I find a way to say it almost every episode no matter what we're talking about. But utilities, they are structured such that they make money insofar as they spend money. So all they really want to do is deploy more big infrastructure. And so as you say, like PUCs find these elaborate Rube Goldberg mechanisms to sort of beg and plead with them to do things like efficiency or distributed energy, know on and on, inter, regional transmission, name it, all of which are sort of just counter to the basic incentive.So as you say, you can spend the rest of your life coming up with more and more elaborate ways to try to trick them into doing something against their interests. But at a certain point you just got to grapple with the central issue which is that they're set up wrong, they're set up badly, they're set up to not want things that are in the public interest and at a certain point you got to just deal with the root cause. Anyway, sorry to go off on my standard canned rant there. So then a skeptic will say these two utilities, just so people are clear about this, these are not vertically integrated utilities.These are just distribution utilities. They just have wires, they just distribute power. They do not own generation. They're dealing with a certain set of supply issues, a certain set of power plants, a certain geography. Maine is very heavily forested which is a nightmare for transmission lines for all the obvious reasons. So it just has a sort of set of things that it's dealing with. And so I guess the skeptic is going to ask what reason do we have to believe that given the sort of same resources that Pine Tree, a public utility, would perform any better?Nicole GrohoskiWell I think we have a lot of evidence that it would because we already have ten consumer owned utilities in Maine. Just for an example, there is one that's called Eastern Maine Electric Co-op. That's a traditional co-op. It is more rural than most of Maine. You might find it interesting that it is serving about 1.2% of the state's load in kilowatt hours but it is in an area that's twice the size of Rhode Island. Now EMAC, which is in rural downeast Maine is directly adjacent to the territory of Versant that I live in and the cost for delivery in EMAC is nine cents and the cost for delivery in Versant is 13.1 cents per kilowatt hour.So I don't think that's just some kind of magical happenstance that when you take profit out of the equation you're just paying less. We know that together CMP and Versant are sending out about — was last year was $187 million a year in profit. So I think if Mainers are in charge of our utility we can decide do we want to use that money to lower rates? Do we want to use it to reinvest in the grid to increase reliability? And I think it would probably be a mix of both of those things.David RobertsAnd that amount of money you think is material enough that it would show up as improved performance, show up as measurably improved performance?Nicole GrohoskiI do think so. I mean I think for your listeners, while Maine is large and rural we do have 1.3 million people. So, when you sort of divide those numbers out it does make a difference. And we've had some independent economic analysis that shows us that Mainers would be saving on average $367 a month, excuse me, a year, because of the fact that we're basically going from expensive rent for the grid to a lower cost mortgage. So I think it's easy to explain it to folks in terms of, like, "What's better when you're looking for housing, dropping your money down a rent hole, black hole for the rest of your life, or swapping out to a mortgage where you've got a lower interest rate than what we see now with the guaranteed return on equity that happens for our for-profit utilities."David RobertsYeah, this was another piece I wanted to ask about. So part of why you think this will be cheaper for ratepayers is just you take that huge slice of profits that are going, as you say, out of state to the owners of these utilities and keep that in state and that alone will buy you some better service. There's also the issue of investor-owned utilities expect and want and are guaranteed relatively high rates of return on their investments and often resist making investments if the rate of return is lower than that. But as you say, a public power utility can be more patient with its capital, right?Can make investments with lower returns as long as they pay off eventually, right?Nicole GrohoskiYeah. So we see here in Maine that the utilities are getting a ROE of 8% to 12%. And we know that firstly that's kind of astounding because it's not all that risky. Most people are paying their bills.David RobertsCrazy. It's guaranteed. It's huge and it's guaranteed. It's wild what it is. This is like the safest business on the planet as being a regulated utility.Nicole GrohoskiCouldn't agree more. And on the flip side, the Pine Tree Power Company can access low-cost capital through revenue bonding at 3-5%. So when we think about paying off that debt over many years with compounding interest, when we think about the fact that our grid really isn't ready to electrify our economy and experts expect it's going to need to be, increased two to three times. Now is the right moment in time, I think, to move away from high cost, low-risk investment to low cost, low-risk investment before we literally triple our grid.David RobertsTell us a little bit about how the utility would be governed or structured and what implications you think that might have.Nicole GrohoskiI love this question. I am a public servant and so I believe in local governance and people getting to vote and go to public meetings and have a say and all that is built into the ballot question. So the Pine Tree Power Company would have elected board members and there are seven of them, one for each grouping of five Senate seats, state Senate seats. And those members then turn around and appoint six members who have specific expertise in things like utility law and management, concerns of workers, concerns of economic, environmental and social justice, things like that, that we really want to make sure those folks are at the table.And this group of 13 people, they serve six-year terms each of them. And of course, there's like a little bit of a lead-in time because they'd all be elected at once, where some of them served shorter terms at the start. But point is, they are people in our communities. They have to be living in Maine. They have open meetings that are subject to freedom of access laws. And in order to best serve the public, I think they would be doing a lot of public outreach. And that's something that in talking to managers and board members from other consumer utilities in the country, I've been really impressed with how much local engagement they have. I think Sacramento Municipal Utility District, they said they're hosting 1300 community meetings a year.David RobertsGood grief.Nicole GrohoskiA couple a day on average. But they have, I think they said 95% customer satisfaction. So people feel like they're valued, their experience matters and they also have a plan to get to 100% clean energy by 2030. So our Pine Tree power governance is very much in the spirit of "It's a public good. It should be publicly governed."David RobertsThere's a little bit of a controversy in Maine a few years ago. I don't remember all the details, but it was about a big transmission line that would have brought hydro from Canada down through the woods of Maine. It was fought and I believe killed by popular resistance. And there was a lot of, at least nationally there was a lot of talk of like here again we have environmentally minded locals blocking things for environmental reasons, but in a short-sighted way that's going to be worse for the environment overall. In the long term, they're NIMBY's. We've got to figure out a way of dealing with this problem, et cetera, et cetera.So this leads to my question, which is: if you have a governing board that is elected by local people, and it is the local people who are often the source of the NIMBYism, do you not have some fears? That this would lead to a more NIMBY rather than less NIMBY operation of the utility, which is going to be difficult when, as you say, this is the time when every state everybody needs to be increasing and bolstering their transmission systems. Do you worry that local control is going to translate into more rather than less NIMBY opposition to new lines?Nicole GrohoskiI'll put it in a way that I think makes sense to me as a person in Maine who's intimately familiar with what you laid out, which is at the root of that decision, was a fundamental lack of trust in Central Maine Power. A trust that it would be doing anything in our best interest, that it would be giving us appropriate benefits, that it was really after anything more than profits. And so I think it wouldn't be true that as soon as Pine Tree Power was created that everyone would immediately trust the company. But I do think it would be a fresh start.And on top of that, with elected and appointed leaders spending time in communities and just energy literacy, I think in general would increase because it's something we would be talking about more if we had to elect the board. I'll say I think that people's interest in energy policy has gone through the roof this year compared to where it was in the past. And people are asking just really great questions, a new curiosity around electricity that I hadn't seen before growing up here. So I think that the outcome would actually be that folks would feel like they had a say in how the transmission was cited, who was benefiting if we remove the profit motive.Imagine if that money that would have gone to profit was actually going to community benefits. That might really change how people feel. And I think that here in Maine we are sort of skeptical of what's being pushed on us by people from away, quote unquote, is a saying we have. I don't always love it, but it is accurate in this case. You've got Central Main Power, owned by Avangrid, then owned by Iberdrola, based in Spain, telling us, "Oh, we've got this great deal for you." And people are skeptical of that. So I think we have a greater chance actually of doing transmission right and in a way that people can accept if there was this broader community process and a lack of for-profit skepticism that comes naturally to us here.David RobertsOne of the criticisms of the two existing utilities is that they're kind of slow-walking clean energy in particular. So I wonder if you could just say a word about what that means and why and how we think Pine Tree would be better on that score. Because it's not obvious. These are just wires utilities, right? So they're not dealing directly with clean energy generation. So what are the issues around clean energy and how will Pine Tree be an improvement?Nicole GrohoskiSo, historically, we have seen that the utilities do spend a lot of time and money in the State House, not just behind the scenes, but also right out publicly testifying against clean energy bills. Now, that has slowed in recent years, but certainly in the previous gubernatorial administration, that was a very common practice.David RobertsIf I could just pause there, I guess I just don't fully understand why, like, if you're a company that's just running wires, what's it to you?Nicole GrohoskiRight back to the return on equity question. So, these utilities make more money when they build transmission lines than when they upgrade the distribution system. They get a higher rate of return, right? So it is in their best interest to continue with the model of large far-off generation facilities compared to local rooftop solar type solutions or microgrids or battery storage. So that's the first part of the problem, I think. And secondly, I think some of these utilities just really are not very nimble. They're sort of in the business that they've been in for a long time and thinking about how to create a dynamic grid that has time of use rates that actually work, for instance, or bidirectional power.We have had smart meters in this state for over a decade and I can't see how they're being used in any kind of smart way. I mean, people are still calling the utilities to let them know the power is out.David RobertsIt's just baffling to me. Like, if I'm in the utility business, this is like my time to be a hero, you know what I mean? After 100 years of sleepy operation in the background, all of a sudden the world is calling upon me to be cutting edge and be the hero and save the world and instead, I'm just going to "I just want to keep doing things the way I've been doing." I don't know, people are disappointing.Nicole GrohoskiNo comment.David RobertsYeah. So I read in one of the stories about this. One of the opponents of this measure said, quote, "The people behind this proposal have no actual plan to lower rates, improve reliability and enable a swifter energy transition." The implication being that the fans of this measure just think that making the utility public is going to be sort of automagically, make everything easier and cleaner and cheaper, but there's no actual plan to do so. Is there a specific plan for how Pine Tree would operate and how it would do these things? Has anyone modeled out sort of you know what I mean?Is there more than just hope that the structure will do the work for you?Nicole GrohoskiWell, I think that the person who said that spent some time cherry-picking certain things in the ballot language but missed the bigger picture here, which is we have to start by saying yes on November 7 and then at that time then we have an election for the board of directors and it goes on from there. But until that time the Maine Public Utilities Commission cannot compel the utilities to give over their very private data to do that kind of in-depth modeling that is going to be the very next task for the Pine Tree Power Board once it exists and that is spelled out in the ballot question. You know, these utilities, I'm just going to be level about it: They don't have a plan either.And I can tell you that because the legislature last year had to pass a law requiring them to do integrated grid planning and think about how is it going to work to increase renewables on the grid, to increase demand as people install more heat pumps and use electric vehicles. They're not doing that or if they are doing it they're not doing it in any kind of way that is transparent or subject to review. So I think it's like a great bait and switch tactic.David RobertsAren't they supposed to create integrated resource plans? I thought that was something that all utilities had to do.Nicole GrohoskiI think they have some planning, but it is clear from the way that the interconnection queues are looking, the very high cost they're pushing onto developers for even just what turns out to be basic grid maintenance, there isn't really — maybe they have something that says "plan" at the top, but I'm not sure that all the nuts and bolts are actually there.David RobertsYeah, I meant to hit on interconnection before because that's one of the critiques also is that they are slow-walking interconnection of distributed resources, etc. Presumably they're doing that, or at least they say they're doing that to protect the grid. Do we have reason to believe they're slow-walking that on purpose such that Pine Tree could substantially speed up the interconnection queue?Nicole GrohoskiWe do have reason to believe that specifically because of all the complaints that we've received as legislators. We did ask the Public Utilities Commission to look into this and they hired the Interstate Renewable Energy Council, or IREC, to do a study. And the IREC findings were basically especially around Versant, which is in eastern and northern Maine. These guys are some of the worst actors we've ever seen in the United States. They are requiring things that they can't justify why they're requiring them, and we can find no reason from an engineering perspective to require them. And your listeners might find it fascinating to know that for Versant customers, the average cost of interconnecting your rooftop solar to the grid is $10,000.David RobertsJesus.Nicole GrohoskiThat is not normal is what I'm told. Another great story that I've heard from a couple of constituents is that they need a transformer upgrade to interconnect their rooftop solar. Okay, that might be true, and that upgrade is going to cost you $1,000 - $1,500. But we can't get the parts for two years.David RobertsOh my goodness.Nicole GrohoskiNow the same solar installers that are working in my area are also working in CMP's area Central Maine Power. Because I live my district includes both, and the installers are saying "CMP says they can get it in two months." So then I asked my constituents "Can you file a formal complaint at the PUC using this process we had to create because this is such a rampant issue?" And when they do that and go through the whole process, then that transformer has arrived and been installed within two to three months time. So I don't know what to say about it.I can only say what I see from the outside and the experience that I have heard about from people that pick up the phone and call me. But it seems shady to go from two years to two months.David RobertsLet's grapple here with what is probably the biggest and most difficult issue around all this, which is say Maine voters say yes to this, and it goes forward. Basically, it would involve the state of Maine buying these two utilities assets from the utilities, and depending on who you believe those assets are worth anywhere from $5 to I think CMP is now saying it could get up to $13 billion. So that's a big public expense. So how's that going to get financed? Who's going to pay it? How long is it going to take to pay it? Have we thought through in any detail how that process works?Nicole GrohoskiYes, definitely. And that was a big part of what the London Economics analysis included was that legal analysis of what that purchase price process would look like. We also have been able to look at this transition as has happened in other communities in the country, and we created an expedited and refereed process to determine the purchase price. And all told, from this fall to switch over to Pine Tree Power, we expect it to take three to four years. What we know from the LEI study is that this is a completely legal and constitutional effort. It's helpful to remind folks that because these are actual monopolies, they only have the right to be doing business because we give it to them.And in the Maine statutes, it literally says the PUC can take it away.David RobertsYeah, I mean, of course, again, this drives me crazy. I'm reading articles about this and of course, just once I'd like there to be a good argument had in public instead of idiots. But all the Republicans are now saying "This is a communist takeover of private business by the state. It's Communists. Why don't we call it Chinese electricity?" I've read, some of the dumbest quotes.Nicole GrohoskiAre you in the comments section?David RobertsNo, these are legislators. This is not even I mean, there's barely a distinction anymore. But like, the Republican legislators are saying this now. So it's worth just emphasizing the point that you just made, sort of drawing a line under it, which is these businesses have been granted a monopoly by the state and granted guaranteed returns by the state. So of course the state can take that back. Of course this is legal. Like if the state grants, the state can take away if the state is granting it on the grounds that it will be of service to the state's residents and it's not anymore, then of course the state can take that monopoly back.It's just crazy viewing. It's not like Maine is going to go take over the potato chip industry.Nicole GrohoskiWe have no interest in that.David RobertsThis is not a normal business. Utilities are not normal private businesses. They are state basically state created entities. And so of course, the state can uncreate them if it wants to. Sorry, I know that will not have any effect at all on the dumb things Republicans say about this.Nicole GrohoskiWell, I do want to clarify. We do have some really strong Republican support, from certain legislators as well as just regular folks. I mean, that was the greatest thing about collecting signatures for this initiative, which I did and my family did and many other people I know was that when you remove it from a debate in a state house, regular people just get it. They get that this is really important to our economy to have an electricity grid that works for us and for our health and safety. And they also understand that maybe this is not a place for profits.And I've had folks wearing Birkenstocks and folks wearing MAGA hats sign the petition because I think Maine people are really resilient. We are proud of our ability to solve problems and I think the majority of us believe this is something that we can do and that we probably could do it better than some far-off foreign monopoly.David RobertsAnyway, I interrupted you. You were talking about how these giant bills are going to get paid. Basically you say it's going to take about four years to do all the work, to transfer everything over. Would the $5 billion or however much it turns out to be, be paid off over those four years or how will it be financed?Nicole GrohoskiNo. So we did meet with some municipal bond banks. This sort of acquisition, like in the case of Long Island, has been paid off over a long period of time. And that's how we're able to see the rate reduction. You know again, similar to renting versus owning. I was able to buy a home. My mortgage is less than my rent would be, but I am still paying it off. And even with the interest, it's still less. So we have the ability through revenue bonding to borrow that money backed by the ratepayers, not actually by the state government and the general fund, but by the ratepayers.We have the ability to borrow that money, and then pay it off over time, and borrow more as we need to build out the grid.David RobertsWould it being a public utility enable it to draw on state money? Because one of the points a few pods ago we were talking about a new offshore wind bill that would draw money from state coffers rather than from ratepayers. And one of the sort of arguments and defense of that is taking tax money from state taxpayers is much more progressive than taking it from ratepayers. Basically you're getting a much more progressive source of funding. Is there any talk of Pine Tree being able to draw on state money or would it still just operate as a utility and get all its money and revenue and stuff from ratepayers the same way a private utility would?Nicole GrohoskiThe enabling statute has it separate. I think that that is really important, especially to our union workers because they had concerns about becoming public sector workers and what that would mean for their right to strike, for instance. So we have ensured that they are private sector workers.David RobertsOh, interesting.Nicole GrohoskiWhether or not a future legislature might say we're able to maintain that and have the utility doing efficiency programs that are paid through the taxpayer dollars versus ratepayer dollars, I can't predict. To your point about regressivity, one of the things that is required in the bill language for the Pine Tree Power Company is to establish lower rates for low income residential customers in the first five year plan. So we are trying to address that challenge that you're absolutely correct. It's the regressive funding structure, unlike taxation.David RobertsAlso, one of the criticisms of these utilities is that they're sending all these cutoff notices, they're cutting off people from power, which is bad for all obvious reasons. But is Pine Tree going to pledge not to do that? And if it doesn't do that, where does that money to cover those people's rates come from? Because that would seem like an additional expense because whatever you might say about cutting people off, it does save the utilities money.Nicole GrohoskiRight. Well, we do have what's called the Arrearage Management Program here in Maine and that does help folks get out of arrears and that is ratepayer funded program. So that is a somewhat fiscally progressive approach to that. You know the details of that program are probably more than you'd want to know. But the long and short is if you get back on track then some of your debt will be just forgiven. But it's not forgiven by the utilities, it's forgiven by your neighbors.David RobertsRight. Well, would Pine Tree pledge not to cut people off? Like, is that part of the campaign here or how would it treat cutoffs ?Nicole GrohoskiYou know, it's a good question that surprisingly I don't know if anyone has posed to me it is not in the legislation one way or the other. I'm of the belief that if rates go down and we could have rates that were income stratified to some extent, that the amount of disconnection notices that we saw earlier this year would go way down just economically. But I think it would be really a decision of the board. And then I'm also not sure if the Public Utilities Commission if there are any rules on the books because this utility, unlike a lot of consumer utilities in the country, is regulated by the Public Utilities Commission as if it were an investor owned utility.So, there may be specific rules about that already.David RobertsYeah, I would just think though, if you're trying to sell this, making this public rather than private, one of the things you could sell is like we think this is a public right to have electricity on some level.Nicole GrohoskiThe one other thing about it that just comes to mind is that a couple of years ago during COVID, people were especially concerned about the disconnection notices, not knowing if they were going to be receiving a next paycheck but we were told that the disconnection notices were necessary in order to provide certain assistance. So the utilities said, "Oh don't worry, we're not actually going to disconnect anyone but we have to do this to get them into this next program." So, I don't know if that would come into play here but I'm not convinced that the utilities wouldn't have ultimately shut the people off but that was a way that they spun it at least.David RobertsOne more kind of semi-technical question that's a little bit of a side thing but is of interest, I think, to Volts listeners. One of the provisions in the IRA, the Inflation Reduction Act, is that it makes some of the tax credits direct pay, which means you don't have to pay taxes to get it back. You can get it back directly as a check and one of the categories of entities that would qualify for this is tax-exempt entities. So I wonder, has anyone done any thinking, and maybe this is too in the weeds but done any thinking about what advantage it might pose for Maine to have its utility be tax-exempt, whether it will benefit from the IRA through that.Nicole GrohoskiIt is something we're thinking about because we were excited to see that direct pay provision sort of leveling the playing field for publicly owned generation which is another topic I'm very interested in, but I think it remains to be seen. In the case of Pine Tree Power, it is not allowed to own generation and it may be permitted to own some storage as is necessary to maintain the grid functioning. So I'm not entirely sure that that direct IRA provision would help in this case but what I think it does is sort of change the paradigm a bit there that may then also shift to other things. If the federal government says let's have an ITC or PTC for transmission lines, the next step might be —David RobertsPraise be.Nicole GrohoskiWell, let's make sure we set it up the same way we've just done with generation. Yes, I think it's a really important conversation even if it doesn't have a direct immediate effect on the Pine Tree Power Company.David RobertsInteresting. As I think anyone could predict just from what we've said so far, even knowing nothing else about it but what we've said so far, I'm sure people could predict that the private utilities in question are not excited about this happening and have mobilized to prevent it from happening. So tell us a little bit about the campaign against this. Is it as hysterical as one would predict?Nicole GrohoskiYeah, I mean hysterical is one word for it. Deeply troubling is another phrase that comes to mind. But these are utilities, like I mentioned, about the amount of profit that they make and that's just off of their Central Maine Power and Versant holdings. But Central Maine Power is just a small, small fraction of the entire Iberdrola conglomerate. So, yeah, we have seen them spending a lot of money against the campaign. They've put $27 million toward the campaign, both utilities, as of the end of June. So we expect to see more of course.David RobertsNot a small amount in a small state.Nicole GrohoskiNo. And honestly, talking to my neighbors, people are very upset by it. They're kind of irate that they're the people whose power goes out and doesn't come back on for a couple of days. They're the folks who had to spend $10,000 for a generator which isn't part of a clean energy solution last I checked. And there go the utilities putting $27 million toward just running ads.David RobertsYeah, I mean, are they experiencing it as a flood of ads? I mean, $27 million must allow you to kind of dominate the airwaves.Nicole GrohoskiYes, the airwaves are definitely bought up, as far as we can tell. And they have just their two donors, which are the utility parent companies, which are Avangrid and Enmax.David RobertsAre they funding 100% of this?Nicole Grohoski100%, yes. And these utilities, lest they tell you how amazing and green and climate-friendly they are, they are gas utilities, Avangrid and Enmax anyhow. And then on the flip side, we are a smaller organization. We don't have Mainers' pockets to pickpocket on a regular basis.David RobertsI'm guessing you guys haven't hit $27 million yet. How much money have you have?Nicole GrohoskiYou're closer to around a million, I think. And that's over 1000 donors, most of whom are just regular donors giving what they can because they understand these differences. And also I think the big difference is the utilities are putting out a lot of fear, doubt, scare tactic type ads. And on the flip side, what we're offering people is something different and something positive, something that we can all lean into and make sure that it succeeds because it would actually be ours. So I think that's resonating with folks.David RobertsWhat are the scare tactics specifically? Are they saying this will be expensive or what?Nicole GrohoskiYeah, expensive. I mean, you quoted some of their numbers and it's laughable. They're like, "Oh, we're going to get $13.5 billion." Well, they're worth $5.4 billion. That's what they pay taxes on. That's what they filed their official paperwork saying. So I think especially as we learn more and more about how decrepit certain portions of this grid are, they'd be lucky to get a little bit over that. So that's one of them. "Is there a plan? We don't have a plan, but do they have a plan?" is another one. You know what, a lot of it is just to my sensibility is a little insulting to Maine people.You don't know what you're doing, that kind of thing. Meanwhile, we're going to keep the line workers who are doing the work and we're giving them a retention bonus because we value their expertise, because they're the ones that actually know how the grids work, not the CEOs and the CFOs.David RobertsYeah, it is historically pretty easy though just to I mean, when you're fighting against change, you barely even need arguments. You know what I mean? You can just say "Booga booga booga change" and you're halfway there, it seems like.Nicole GrohoskiWell, I think that's why we're in such a unique position in Maine because while that can be kind of an initial gut reaction, I think people here are curious. We've certainly seen plenty of campaigns where one side was outspent a lot by the other and it didn't make a difference. We have led in other policy areas. Ranked choice voting could be one recent example. Clean elections one of the only states that splits our electoral college votes. So I think Maine people, I think we're interested in things that are different if they make sense to us.David RobertsWhere is the public on this? Do we know do we have enough polling or survey data or what have you to know kind of what the level of support is or where the public is on this? Do we have a barometer? Do we have a measure here?Nicole GrohoskiYeah, I think the most recent public polling was probably a couple of months ago. But what it showed was there were people that were solidly in each camp but a lot of undecided voters and it really put us in a dead heat in terms of the people that were decided. And what I think is interesting is folks are not being swayed by Central Maine Power and Versant ads mainly because we don't trust them. They have not been good faith actors.David RobertsAre they creating fake groups like "Mainers for puppy dogs and grandma"?Nicole GrohoskiYes, Maine Affordable Energy is one of them. Yeah, so they sound pretty good, but all you have to do is google that and you find out pretty quickly, because of our disclosure rules, that's 100% utility funded.David RobertsTo the extent that the public supports this, are they viewing it as primarily a green thing, a thing about clean energy? Or is it primarily " Screw these out of state —," you know what I mean? Like a Maine pride kind of thing. Is it a reliability? Do you know what it is about this that the public has taken from it? What it is the public is supporting when the public supports it?Nicole GrohoskiThat's a great question and it does vary depending on the person and their interest and maybe even where they live in the state because the utility rates are the worst where I live compared to all the other districts in the state. So it depends. I think if you're a person who tried to interconnect and you got told you have to wait two years and $10,000, then it might be about greening the grid. But I think for a lot of folks underlying whatever their specific reason might be, it is that question of trust. I think about this all the time we have aggressive clean electricity goals, but 50% of our carbon emissions in this state are coming from vehicles and we are the most heating oil dependent state in the country.So we've got to get people onto the electricity grid in order to have any hope of cleaning it up. But it's really hard for me to knock on someone's door and say, "I really hope you'll consider changing your whole house over to heat pumps, even though we have below zero temperatures sometimes. Or I know that the power went out for a week last year, but would you consider an EV?" So I think that in order to make this transition work, we have to have utilities that people trust and that are providing just basic service. People should not have to think as hard as they're thinking about if their electricity is going to be there for them.David RobertsYes, that's such an important point. And so generalizable too, like if electrification is the thing, then people have got to trust the institutions in charge of electrification and they do not have much public trust these days. So that's an interesting argument in favor, I think, of making utilities more accountable, more public. What about the other big argument against one of the big scare things is you have to buy all these assets, which is like a big bill, a big one-time bill. The other scare story is that utilities are going to immediately sue, that this is going to get mired in the courts, and that it's going to take 4, 5, 6, 7 years to even get it all settled, and until then it will be chaos and no one will know what's going on and blah, blah, blah.So realistically, what's your view of, say, voters approve this in November? What is your view of sort of how that plays out and when and how the inevitable legal wrangling gets resolved?Nicole GrohoskiBasically, the Pine Tree Power Board will offer a certain amount for the utility infrastructure. I don't expect that the utilities will accept that on first pass you're buying a used car, you don't just take the first price. Right. So we would expect some negotiation, but if that doesn't work, then it will go to the courts. And there is a refereed process that's spelled out in the legislation in the Superior Court that then can be appealed to the Supreme Court in the state of Maine. But there are timelines set up. So it cannot go on for years and years and years, because at some point, if you lose or win a case, that's it.You have one appeal. I think it's funny that this argument is coming from the utilities because if there are any lawsuits and if it got dragged out, as they say, even though we've protected against that to the best of our ability, that's coming from them. That is a choice that they are making.David Roberts"Don't make us do this."Nicole GrohoskiYeah, so it's kind of ironic but additionally, one of the things that comes up is how do we know the utilities will continue to invest in the meantime? And it's like the best parallel I could say to that is if I'm going to sell my house, I don't just stop fixing things before I sell it. I keep it up in really good shape. And in fact, utilities would have an incentive to invest more because usually they don't just sell it for exactly what it's worth. There's usually a multiplier. We expect it to be like 1.5 times.So we actually have increased the oversight capacity of the Public Utilities Commission to ensure that there isn't any of that sort of last-minute gold plating going on, because that is actually what we'd expect, not the further disrepair scenario.David RobertsOh, so you think if this goes through, they'll plow a bunch of money into high dollar upgrades just to boost their price that you have to pay for them?Nicole GrohoskiThat's what I would do if I were them. Fortunately, we're going to keep an eye on that on behalf of Maine people. But if you are able to invest a million dollars here and in two to three years time make $1.5 million because that's the multiplier that the courts assign, that's pretty good.David RobertsYeah. So what's your timeline in your head then? What do you envision? At what point is there just the one public utility operating and all this is behind us? Were you willing to predict?Nicole GrohoskiYeah, we're looking at fall 2027, so four years from now, and that includes having the elections for the board members next year. So that's the first major hurdle, which I think is exciting, especially because living in one of the more rural parts of Maine, we don't always feel here that our interests are represented at the Public Utilities Commission, which is folks from southern Maine. And I think this geographic component is really compelling to, you know, so that's our first step. And then basically we have to get a lot of information. I mean, the board would have to get a lot of information from the utilities in order to know what purchase price they should put forward, what's the business plan, what does the revenue bonding look like, and make sure they can secure that financing through a large municipal bond market.So that takes time and we want to make sure we do it right. On the other hand, doing nothing is also a risk that I think sets people in my generation and folks younger than me behind economically and environmentally for decades. So a couple of years to do it right is definitely worth it.David RobertsOkay, final question then. I can see lots of Maine-specific reasons why one might argue that this is a good deal; these utilities are particularly bad, Maine has a particular set of problems, it has a particular sort of public culture, a culture of participation and a culture of civic engagement, et cetera, et cetera. Lots of Maine-specific reasons why you could make the case for this. I wonder, to what extent do y'all have your eyes on other states and trying to make this the beginning of something bigger? Like, do you believe that taking private utilities public is a good idea across the board?Is that something you'd like to see become a national trend or are you just purely focused on Maine? How do you think about the influence this may or may not have on other states?Nicole GrohoskiI think that all the issues we've had in Maine are what led us to looking around for solutions, but it is a structural imbalance that we have with the regulated monopolies when they're for profit. So, I do think it is something that is exportable to other states. We people in our coalition have been working with and talking to people elsewhere in the country who are looking to make a similar transition also elsewhere in the world. It's kind of interesting. The Scottish power is also owned by Avengrid, which owns Central Maine Power, and they are looking to become a public, truly public utility over there.So, in doing this work, we've found a lot of interest for that business model change. And I think as we become another case study, we are standing on the shoulders of other case studies that have happened in this country. And as we become another one for folks, I think that we'll see some opportunities arise. And I would like to see that because I want every American to be able to afford their electricity and to be able to have clean energy and not a lot of hurdles to getting there, because we are literally all in this together as a country and as a world with our climate crisis.David RobertsThat seems like a wonderful note to wrap up on. Nicole Grohoski, thanks so much for coming on and walking through this with us. It's super fascinating and I think it will be an example to the rest of the country one way or the other. However it plays out.Nicole GrohoskiWe're hoping that we're a positive "yes" example. We're working every day toward that. And I want to thank you, David, for having me on and talking about this topic, which is, I think, endlessly important and fascinating.David RobertsAgreed, agreed. OK. Thanks, Nicole. Thank you for listening to the Volts podcast. It is ad-free, powered entirely by listeners like you. If you value conversations like this, please consider becoming a paid Volts subscriber at volts. WTF. Yes, that's volts.WTF so that I can continue doing this work. Thank you so much and I'll see you next time. Get full access to Volts at www.volts.wtf/subscribe
"La decisión de la Fed y la posibilidad de nuevas subidas de tipos de interés han desinflado hoy al Ibex y al resto de Bolsas", ha comentado hoy Samuel Plaza, Director de JFD BROKERS España. A pesar de ello la tendencia alcista sigue vigente. El analista también ha dicho que los 9.200 puntos es un nivel clave para el Ibex. "En ocasiones anteriores los ha aguantado bien en ocasiones anteriores". Por último, Plaza ha comentado que "hay que ver si tiene fuerza para romper los 9.700." Entre los valores analizados por el analista independiente a los oyentes de Capital Intereconomía en el consultorio de Bolsa de hoy están Talanx, Iberdrola, Caixabank, Ferrari, Alphabet, Acciona Renovables, Endesa, ASML Holding, Rheinmetall
"En ningún índice está sucediendo nada", sostiene el analista de Apta Negocios, Roberto Moro. Además, el experto ha comentado en el consultorio de bolsa de hoy que las Bolsas continúan con el rebote. Moro también ha analizado el Ibex 35. "Está a un 1,5% de sus máximos históricos en gráficos con dividendo. Lo vemos en el Dax que está muy lateral." Por último, el analista de Apta Negocios ha confirmado que se ha eliminado la incertidumbre de estar cerca de la zona de soporte. Entre los valores analizados por el experto de Apta Negocios, Roberto Moro, a los oyentes de Capital Intereconomía en el consultorio de Bolsa de hoy están: Teléfonica, Constellation Software, Infineon, Munich Re, Iberdrola, Deutsche Post y Solaria.
Great Sustainable Stock Buys include everything from automakers to waste management to renewable energy stocks. Four articles reviewed, eleven referenced! Transcript & Links, Episode 113, September 8, 2023 Hello, Ron Robins here. So, welcome to this podcast episode 113 titled “Great Sustainable Stock Buys.” It's presented by Investing for the Soul. Investingforthesoul.com is your site for vital global ethical and sustainable investing mentoring, news, commentary, information, and resources. And look at my newly revised website at investingforthesoul.com! Tell me what you think. Now, remember that you can find a full transcript, and links to content – including stock symbols and bonus material – on this episode's podcast page located at investingforthesoul.com/podcasts. Also, a reminder. I do not evaluate any of the stocks or funds mentioned in these podcasts, nor do I receive any compensation from anyone covered in these podcasts. Furthermore, I will reveal to you any personal investments I have in the investments mentioned herein. Additionally, quotes about individual companies are brief. Please go to this podcast's webpage for links to the actual articles for more company and stock information. Also, some companies might be covered more than once and there are also 11 article links below that time didn't allow me to review them here. ------------------------------------------------------------- Great Sustainable Stock Buys - 1 The first article reflecting today's theme is titled 3 Sustainable Companies Helping to Solve Global Warming. It's by Leslie Norton and seen on morningstar.com. Here's some of what Ms. Norton has to say. “Zoetis ZTS About two thirds of Zoetis' sales come from the pet business, which has doubled over the past four years… The rest of Zoetis' sales comes from its livestock-related business… Morningstar Fair Value Estimate: $170 Morningstar Rating: 3 stars Morningstar Uncertainty Rating: Medium Morningstar Economic Moat Rating: Wide Morningstar Comment: Zoetis enjoys a wide moat and secular tailwinds, notes senior analyst Debbie Wang. Stellantis STLA Stellantis is one of the world's top five automakers, with brands like Chrysler, Peugeot, Jeep, Maserati, and Alfa Romeo… Galvanize Global Equities thinks Stellantis' profitability can ‘well' exceed what the market expects, even with the company's big investments. The stock trades at 1 times earnings, according to Galvanize, creating ‘a compelling entry point' as the auto industry evolves for the low-emissions era. Morningstar Fair Value Estimate: $43 Morningstar Rating: 5 stars Morningstar Uncertainty Rating: High Morningstar Economic Moat Rating: None Morningstar Comment: Stellantis' revenue and profit margins ‘continue to impress,' notes senior analyst Richard Hilgert. GFL Environmental GFL This Canadian waste management company services residential, commercial, municipal, industrial, and institutional customers. It is North America's fourth-largest environmental services company… Recently, GFL announced a series of efforts to boost the capital it will commit to clean technologies and plans to align its executive compensation with climate targets. Morningstar Quantitative Fair Value Estimate: $36.11 Morningstar Quantitative Rating: 3 stars Morningstar Quantitative Uncertainty Rating: High Morningstar Quantitative Economic Moat Rating: None” End quotes. ------------------------------------------------------------- Great Sustainable Stock Buys - 2 Now the majority of articles on sustainable companies continue to focus on renewable energy stocks. This is the first of two on that subject covered in today's podcast. It's titled Top Solar Stocks for Q3 2023. By Timothy Smith and found on investopedia.com. Here's some of what Mr. Smith writes. “1) Best Value Solar Stocks The solar stocks presented in the table below have the lowest 12-month trailing price-to-earnings (P/E) ratio… Daqo New Energy Corp. (DQ): The Chinese-based company produces ultra-pure polysilicon used in solar cells, modules, ingots, and wafers. The trailing P/E ratio is 2.6. JinkoSolar Holding Co. (JKS): It offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots… The company reported in August that its second-quarter module shipments increased 36.2% sequentially, and 74.4% from a year earlier. The trailing P/E ratio is 4.9. Canadian Solar Inc. (CSIQ): It is known for its innovative photovoltaic technology and project development expertise. The trailing P/E ratio is 7.2. 2) Fastest-Growing Solar Stocks The top three solar stocks ranked by a growth model that scores companies based on a 50/50 weighting of their most recent quarterly year-over-year (YOY) percentage revenue growth and most recent quarterly YOY EPS growth… Canadian Solar: See company description above. EPS Growth 750%. Revenue Growth 36%. SolarEdge Technologies Inc. (SEDG): Manufactures and sells solar ingots, wafers, cells, modules, and other s