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FirstEnergy (FE +4.9%) leads S&P 500 gainers, as Citigroup raises its price target to $46...

FirstEnergy (FE +4.9%) leads S&P 500 gainers, as Citigroup raises its price target to $46 following a "large positive surprise" in the capacity auction at wholesale power market PJM: a 2014 price of $125.99/megawatt-day, up from a year-ago $27.73. (earlier: ENOC)
Comments (3)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    This is inflation..pure and simple...
    16 May 2011, 01:30 PM Reply Like
  • gausmus
    , contributor
    Comments (93) | Send Message
     
    Not so sure, youngman. Lots of coal plants leaving the grid with the advent of MACT regulation...
    16 May 2011, 02:25 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    They are bidding the prices up...which wil be passed to the consumer...yes coal plants are shutting down....and coal mines..Obama has stated he wants to put them out of business....but if a kilowatt doubles in price....that is inflation or will lead to more inflation as input costs go up...it will also add to more unemployment...and to deforestation as people will burn firewood to heat there homes...just like a third world country...
    16 May 2011, 02:47 PM Reply Like
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