Tear Sheet: The Peoples Gas Light&Coke Co.'s Financial Measures Hold Up Despite Disallowance - S&P Global Ratings’ Credit Research

Tear Sheet: The Peoples Gas Light&Coke Co.'s Financial Measures Hold Up Despite Disallowance

Tear Sheet: The Peoples Gas Light&Coke Co.'s Financial Measures Hold Up Despite Disallowance - S&P Global Ratings’ Credit Research
Tear Sheet: The Peoples Gas Light&Coke Co.'s Financial Measures Hold Up Despite Disallowance
Published Jan 22, 2024
7 pages (2454 words) — Published Jan 22, 2024
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

WEC Energy Group Inc. recently reported it will take a $179 million noncash charge to its 2023 earnings. The charge primarily reflects capital spending incurred by WEC subsidiary, The Peoples Gas Light and Coke Co. (PGLC), but disallowed by the Illinois Commerce Commission (ICC) in its November 2023 rate order. The disallowed capital spending relates to the construction and improvement of service shops PGLC owns throughout Chicago. The ICC?s November 2023 rate order also rejected PGLC?s request to include its forecast test year safety modernization program (SMP) investment in rate base. The ICC ordered a pause in, and an investigation of, the program, which focuses on replacing aging and at-risk pipelines (such as cast iron or ductile iron), relocating meters,

  
Brief Excerpt:

...Foreign currency issuer credit rating A-/Stable/A-2 Local currency issuer credit rating A-/Stable/A-2 Business risk Excellent Country risk Very Low Industry risk Very Low Competitive position Strong Financial risk Significant Cash flow/leverage Significant Anchor a- Diversification/portfolio effect Neutral (no impact) Capital structure Neutral (no impact) Financial policy Neutral (no impact) Liquidity Adequate (no impact) Management and governance Neutral (no impact) Comparable rating analysis Neutral (no impact) Stand-alone credit profile a-...

  
Report Type:

Full Report

Ticker
WEC
Issuer
WEC Energy Group Inc.
GICS
Multi-Utilities (55103010)
Sector
Global Issuers , Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Tear Sheet: The Peoples Gas Light&Coke Co.'s Financial Measures Hold Up Despite Disallowance" Jan 22, 2024. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Tear-Sheet-The-Peoples-Gas-Light-Coke-Co-s-Financial-Measures-Hold-Up-Despite-Disallowance-3115085>
  
APA:
S&P Global Ratings’ Credit Research. (). Tear Sheet: The Peoples Gas Light&Coke Co.'s Financial Measures Hold Up Despite Disallowance Jan 22, 2024. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Tear-Sheet-The-Peoples-Gas-Light-Coke-Co-s-Financial-Measures-Hold-Up-Despite-Disallowance-3115085>
  
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