Europe should prepare for emissions trade: S&P

Resumen de Prensa            Enervía, viernes, 22 agosto 2003

FUENTE: Platts


European energy companies should already be preparing for the economic effects of the EUROPEAN UNION Emissions Trading
Directive, global ratings agency Standard & Poor's said Thursday. In its report, S&P noted that directive would have a significant impact on the sector's credit quality when it comes into force in 2005. "Both complying with and failing to comply with the new regulations will increase costs for the sector," said S&P credit analyst Paul Lund. "We have already begun to review the likely effects of the increased focus on emissions trading in Europe, particularly on the profitability and cash flow generation of utilities and energy trading companies." The report discusses how the directive will be implemented, the factors that will shape that implementation, and the consequences for corporate strategies. It also examines the law's provisions and its potential effects on other industrial sectors.