Energy Distribution

摘要

Utility stocks kept pace with the Dow in 1998 after underperforming for 17 years. This once-sleepy industry is rubbing its eyes and gazing into a changed future. Deregulation, first introduced in California, will accelerate this year. Many electric utility executives will thus have to decide whether to stay in the generation business or sell power plants to focus on the slower-growing but less risky business of maintaining transmission lines and reading meters. Electric and gas companies will continue to merge.