2008 YEAR IN REVIEW (plus a couple months in 2009!) AAI 9 th Annual Energy Roundtable. David L. Mohre Executive Director Energy & Power Division NRECA. Current, Expected Industry Drivers. The U.S. and world economy The credit, liquidity crisis Expected legislative initiatives
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David L. Mohre
Energy & Power Division
In this new financial environment, “utilities will need to have access to longer-term, more permanent financing and be able to sell power from new projects pursuant to long-term contracts and not market-based rates”
Managing Director, JP Morgan Chase Inc
“I think the challenge that we have is that we are trying to build long-term assets with short-term pricing, and that just doesn’t add up, particularly if you want to get something that’s investment grade”
Anthony Ianno, Morgan Stanley to FERC
Can we raise sufficient long-term capital cost-effectively in this new financial environment given the short-term focus of current centralized market designs?