NEW YORK, NY--(Marketwire -06/27/12)- As a result of plummeting natural gas prices many U.S. utilities have shifted to burning gas for electricity. According to a recent Bloomberg article Julien Dumoilin-Smith, analyst with UBS AG, has said that U.S. utilities are planning to retire 33,000 megawatts of electricity, generated from coal, as the U.S. Environmental Protection Agency have tightened regulations on mercury and other toxins. The Paragon Report examines investing opportunities in the Utilities Industry and provides equity research on NRG Energy Inc. (NRG) and Genon Energy Inc. (GEN).
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Exelon Corp. may be forced to take a 40 percent cut on three Maryland plants they are trying to sell before the end of August. Offers have ranged from $600 million to $700 million, which are valued $1 billion said Travis Miller director of utilities research for Morningstar Inc. With the sale, utility companies such as American Electric, GenOn Energy Inc. and First Energy Corp. may be able to get a better idea if costs associated with pollution control of coal burning plants are worthwhile. "This is going to be the first meaningful transaction for coal assets since the downturn," Dumoulin-Smith said in a phone interview. "You can get a little anxious about what the repercussions are."
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NRG Energy is a Fortune 500 and S&P 500 Index company that owns and operates one of the country's largest and most diverse power generation portfolios. The Company's power plants provide more than 25,000 megawatts of generation capacity -- enough to supply nearly 20 million homes. The company recently reported that Reliant and Comcast have recently signed an electricity supply agreement to provide nearly 8 megawatts of peak power.
GenOn Energy is one of the largest competitive generators of wholesale electricity in the United States. The company has power generation facilities located in key regions of the country and a generation portfolio of approximately 23,700 megawatts. GenOn's net loss was $32 million for the first quarter of 2012 compared to a net loss of $111 million for the same period of 2011.
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