Exelon's CEO: Analysts 'have it very wrong'

[kristopher]

Exelon's CEO: Analysts 'have it very wrong'
By Steve Daniels October 30, 2013

Facing deteriorating sentiment on Wall Street, Exelon Corp. CEO Christopher Crane today directly challenged analysts' views on his company and restated his confidence that the depressed wholesale power markets largely responsible for the Chicago-based utility giant's declining earnings will recover.

But, though Mr. Crane delivered it more pointedly than in the past, his message is one analysts have heard before, with no evidence afterward that the market fundamentals were changing. So this time Mr. Crane put a time limit on his patience: one year.

If wholesale power prices don't show signs of increasing by late next year, Exelon will begin shuttering power plants, he said on a call to discuss the company's third-quarter earnings, which surpassed analysts' expectations.

“We will shut down facilities that we do not see a path to long-term sustainable profitability,” Mr. Crane pledged.

Among the nuclear power plants regarded as the most vulnerable in that scenario...

http://www.chicagobusiness.com/article/20131030/NEWS11/131039980/exelons-ceo-analysts-have-it-very-wrong

[bananas]

1. Christopher Crane is also vice chairman of the Nuclear Energy Institute

So he has a conflict of interest.

At the bottom of his bio at http://www.exeloncorp.com/peopleandculture/leadershipteam/crane.aspx

He is a member of the executive committee of the Edison Electric Institute and the board of directors of the Institute of Nuclear Power Operations, the industry organization promoting the highest levels of safety and reliability in nuclear plant operation. He is vice chairman of the Nuclear Energy Institute, the nation’s nuclear industry trade association, where he has also served as chairman of the New Plant Oversight Committee and as a member of the Nuclear Strategic Issues Advisory Committee, the Nuclear Fuel Supply Committee and the Materials Initiative Group.

I don't know if he's related to David Crane, NRG President and Chief Executive Officer
http://www.nrgenergy.com/about/management.html

Edit to add: Compare with some interesting predictions by David Crane: http://cleantechiq.com/2013/04/solar-to-ally-with-natural-gas-nrg-ceo-david-crane/

[kristopher]

2. Thank you. I missed that; I thought the remarks were from David Crane.

I guess the problem is more my inattentive reading and less a case of split personality for David Crane.