Empirical Study of the Relationships Between Financial Leverage And Capital Costs for Electrical Utilities
Empirical Study of the Relationships Between Financial Leverage And Capital Costs for Electrical Utilities
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In our eReader you can find the full English version of the book. Read Empirical Study of the Relationships Between Financial Leverage And Capital Costs for Electrical Utilities Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Empirical Study of the Relationships Between Financial Leverage And Capital Costs for Electrical Utilities
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Second, large construction programs often require new equity financing. If the firm's stock is selling below book value at the time of sale, the current stockholders' equity position is diluted, and hence value is lost.
Third, there is the risk that the plant will be cancelled and investors will be forced to bear the costs of cancellation. And fourth, there is significant risk when the plant is actually available for service. Electric utilities must plan their new construction programs well in ...advance of the time that the capacity will actually be needed. If demand growth turns out to be less than was expected, then the capacity of the plant may not actually be required, and the risk exists that the regulators will not place the plant in the rate base. Under these circumstances, the carrying cost of the plant must be borne by the investors rather than the customers. Further, even if the capacity of the new plant is needed, regulators, to avoid "rate shock," may not grant a full and immediate cash return on the plant, choosing instead to phase the plant into the rate base and hence to delay the return.
What to read after Empirical Study of the Relationships Between Financial Leverage And Capital Costs for Electrical Utilities?
You can find similar books in the "Read Also" column, or choose other free books by Gapenski, Louis Charles to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Second, large construction programs often require new equity financing. If the firm's stock is selling below book value at the time of sale, the current stockholders' equity position is diluted, and hence value is lost.
Third, there is the risk that the plant will be cancelled and investors will be forced to bear the costs of cancellation. And fourth, there is significant risk when the plant is actually available for service. Electric utilities must plan their new construction programs well in ...advance of the time that the capacity will actually be needed. If demand growth turns out to be less than was expected, then the capacity of the plant may not actually be required, and the risk exists that the regulators will not place the plant in the rate base. Under these circumstances, the carrying cost of the plant must be borne by the investors rather than the customers. Further, even if the capacity of the new plant is needed, regulators, to avoid "rate shock," may not grant a full and immediate cash return on the plant, choosing instead to phase the plant into the rate base and hence to delay the return.
What to read after Empirical Study of the Relationships Between Financial Leverage And Capital Costs for Electrical Utilities?
You can find similar books in the "Read Also" column, or choose other free books by Gapenski, Louis Charles to read onlineMoreLess
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