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TWST: Please give us an overview of your coverage in the utility space.
Mr. Brothwell: We cover the natural gas pipeline and utility companies, as well
as the electric utility companies. TWST: How have the companies in general done in the first couple of quarters
from an earnings perspective?
Mr. Brothwell: The second quarter was mixed. A lot of the gas utilities in
particular were seeing the effects of milder weather, which of course was a
follow-on from what happened in the first quarter. So the utilities in general
are sensitive to weather and until fairly recently, we've had relatively mild
weather, and that has driven first-half performance on the utility side. For the
commodity-exposed companies, on the other hand, many of them have done quite
well, particularly on the electric power side, given the high price of natural
gas that we've had relative to a couple of years ago, which has been a boon for
coal and nuclear-based generators and has been reflected in their results.
Tickers included in this excerpt: EXC, PPL, STR, WMB
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