Richard Priory, CEO fo Duke Energy was on nightly business report tonight. He gave very postive remarks regarding the merger, the analysts outlook, and answered tough questions on the lower than expected earnings. Did anyone else see the interview?
I saw the interview also and was impresses by him and by the plans Duke Energy has, but was a little concerned to hear they are investing in electrical energy for Ecuador of all places. Latin America is a good long term investment, but I know a bit of Latin America and this has to be one of the poorest countries in the region. Venezuela or Brazil would be better.
This was the first opportunity I have had to see Mr. Priory in action and I was very impressed by his presentation, eloquence and demeanor. I was curious about his answer to the acquisition question, sounds to me that some generating assets in FL and NE are on the docket. Are they looking at Nuclear in the Northeast, something that may have been signaled by the Yankee purchase?
I don't think Duke or any similar company has plans to expand in the Nuclear energy area. I think they will work with what they have and if anything try to reduce their position in nuclear energy.
Mr. Priory also mentioned some interest in the northwest. Duke along with Enron is very interested in establishing a position in California which is on the fast track with deregulation and competitive power marketing much like what's going on in the northeast.