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Calpine Exec: Low Gas Prices Will Separate "Men from the Boys," Drive M&A The current low gas and power prices will drive asset divestitures and asset acquisitions in the generation sector, and will, "separate the men from the boys," Calpine CEO Jack Fusco said during an earnings call yesterday.
"I think, just with my experience over the past 30 years in this sector, that these low gas prices, coupled with the low power prices, are going to create an opportunity in the sector for those that want to be a consolidator. So I think these low prices will separate the men from the boys, and we'll see what that drives for the rest of the year, but I would expect it to be a very busy rest of the year in regards to asset divestitures, as well as asset acquisitions," Fusco said
"[W]e're seeing it now with a variety of different entities that have already filed bankruptcy or are near filing in the future. So I think we're optimistic that at the end of the day, the entities that have survived will be a lot stronger for the space and for the sector than what currently exists," Fusco said.
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July 26, 2013
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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