Sep 2, 2014

Top 5 Reasons You Should Watch Canadian Solar (CSIQ) Stock This Week

Utilities
Canada
Admin
3 min
5. Zacks rated the stock as a “strong buy.”
Noting that Canadian Solar has seen trouble as of recently, the analys...

5. Zacks rated the stock as a “strong buy.”
Noting that Canadian Solar has seen trouble as of recently, the analyst company Zacks rated the stock as a “strong buy” today, saying that its earnings per share were “huge.” Brian Bolan, writing for Zacks, noted that he was “even more impressed with the revenue of $624M, nearly double the $380M from the year ago levels and $49M ahead of expectations.”

4. They’ve been on top before.
As Bolan notes, Zacks has rated Canadian Solar as a “strong buy” already twice this year. It was Bull of the Day in February and again six weeks later. While it’s had its peaks and valleys this year, it’ll be interesting to see where the stock goes from the top this time. It would seem the only way off the summit is to go down, but it remains to be seen this week where CSIQ moves next.

3. It remains afloat while others dip beneath the surface.
Energy and mining stocks were down in Toronto this week—a week that could see stocks skyrocket with positive economic data. On Friday, the U.S. will release its August jobs report and that is expected to have a massive effect on the markets. Hopefully, CSIQ will continue to climb with a positive report and other mining and energy stocks climb out from the holes they’re currently in.

2. The Canadian Energy Strategy (CES) will provide a framework for CSIQ to work within.
The release this week of the CES will drive renewable energy production in Canada, as it focuses the country of getting clean power deployed more rapidly. Seeing as how CSIQ is the largest solar company is Canada, this is great news. There will be more job opportunities and room for the company to grow. Pay attention to how markets react this week.

1. Their installation for Conti Group shows their strength.
In Q2 of 2014, CSIQ supplied Conti/SunDurance with 11 MW of solar modules. This number shows strong growth for CSIQ and both parties spun the installations as very positive for all involved. “We partner with sophisticated solar developers, solar asset owners and electrical utilities to design and build large scale projects, and are very excited to work with Canadian Solar on this opportunity,” Matthew Skidmore, Vice President at Conti, said. “We are pleased to be selected to supply our PV modules to Conti, a world leading EPC provider. We are looking forward to working with Conti in the future. I am confident that Canadian Solar's global leadership, proven track record, and well-known brand name will continue to make us a partner of choice in powering key solar installations worldwide,” Dr. Shawn Qu, Chairman CEO of Canadian Solar, said. Watch this week to see how the markets react. 

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Jul 26, 2021

Ofwat allows retailers to raise prices from April

Ofwat
Utilities
water
prices
Dominic Ellis
3 min
Ofwat confirms levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue

Retailers can recover a portion of excess bad debt by temporarily increasing prices from April 2022, according to an Ofwat statement.

The regulator confirmed its view that levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue, thereby allowing "a temporary increase" in the maximum prices. Adjustments to price caps will apply for a minimum of two years to reduce the step changes in price that customers might experience.

Measures introduced since March 2020 to contain the spread of Covid-19 could lead to retailers facing higher levels of customer bad debt. Retailers’ abilities to respond to this are expected to be constrained by Ofwat strengthening protections for non-household customers during Covid-19 and the presence of price caps.  

In April last year, Ofwat committed to provide additional regulatory protection if bad debt costs across the market exceeded 2% of non-household revenue. 

Georgina Mills, Business Retail Market Director at Ofwat said: “These decisions aim to protect the interests of non-household customers in the short and longer term, including from the risk of systemic Retailer failure as the business retail market continues to feel the impacts of COVID-19. By implementing market-wide adjustments to price caps, we aim to minimise any additional costs for customers in the shorter term by promoting efficiency and supporting competition.”  

There are also three areas where Ofwat has not reached definitive conclusions and is seeking further evidence and views from stakeholders:   

  1. Pooling excess bad debt costs – Ofwat proposes that the recovery of excess bad debt costs is pooled across all non-household customers, via a uniform uplift to price caps. 
  2. Keeping open the option of not pursuing a true up – For example if outturn bad debt costs are not materially higher than the 2% threshold. 
  3. Undertaking the true up – If a 'true up' is required, Ofwat has set out how it expects this to work in practice. 

Further consultation on the proposed adjustments to REC price caps can be expected by December.

Anita Dougall, CEO and Founding Partner at Sagacity, said Ofwat’s decision comes hot on the heels of Ofgem’s price cap rise in April.

"While it’s great that regulators are helping the industry deal with bad debt in the wake of the pandemic, raising prices only treats the symptoms. Instead, water companies should head upstream, using customer data to identify and rectify the causes of bad debt, stop it at source and help prevent it from occurring in the first place," she said.

"While recouping costs is a must, water companies shouldn’t just rely on the regulator. Data can help companies segment customers, identify and assist customers that are struggling financially, avoiding penalising the entire customer in tackling the cause of the issue."

United Utilities picks up pipeline award

A race-against-time plumbing job to connect four huge water pipes into the large Haweswater Aqueduct in Cumbria saw United Utilities awarded Utility Project of the Year by Pipeline Industries Guild.

The Hallbank project, near Kendal, was completed within a tight eight-day deadline, in a storm and during the second COVID lockdown last November – and with three hours to spare. Principal construction manager John Dawson said the project helped boost the resilience of water supplies across the North West.

“I think what made us stand out was the scale, the use of future technology and the fact that we were really just one team, working collaboratively for a common goal," he said.

Camus Energy secures $16m funding

Camus Energy, which provides advanced grid management technology, has secured $16 million in a Series A round, led by Park West Asset Management and joined by Congruent VenturesWave Capital and other investors, including an investor-owned utility. Camus will leverage the operating capital to expand its grid management software platform to meet growing demand from utilities across North America.

As local utilities look to save money and increase their use of clean energy by tapping into low-cost and low-carbon local resources, Camus' grid management platform provides connectivity between the utility's operations team, its grid-connected equipment and customer devices.

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