Utilities Flat Amid Rate Trepidation -- Utilities Roundup
Shares of power-plant operators were flat amid trepidation about rising interest rates.
Utilities were among the biggest losers this week amid fears that higher rates would lure fixed-income investors out of the dividend-paying sector. More broadly, investors are rotating out of defensive areas of the stock market into cyclical sectors.
The Trump administration is urging independent federal energy regulators to change how electricity is priced, proposing new rules that could bolster revenue for coal-fired and nuclear power plant owners. The Energy Department is mandating that the Federal Energy Regulatory Commission consider new rules that would effectively raise power prices to pay more to plants considered more resilient -- citing nuclear and coal plants among those who have fuel on-site, allowing them to run uninterrupted through emergencies.
Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
September 29, 2017 17:13 ET (21:13 GMT)