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Fortis Inc. (FTS $70.14)
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Brookfield Renewable Partners L.P. (BEP.UN $37.05)
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Capital Power Corporation (CPX $68.79)
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TransAlta Corporation (TA $20.20)
The trend towards higher demand (much, much higher than previously expected) should benefit all companies in the sector. However, capital, capacity, location and relationships will play a role in whether other companies can capture 'big' power deals. Capital availability is likely the biggest constraint. Not all companies can promise giant power availability over a 10 to 20 year term. Customers are quite desperate for power security and this becomes a very important factor. The sector is also regulated which can slow things down as well. But, certainly the growth of AI and data centres is a big new positive influence for the sector, and we have seen valuation multiples, particularly in the US, rise well above long term historical levels.