Korea Electric Power: Multiple Headwinds Justify Historically Low P/B [Seeking Alpha]
Korea Electric Power Corporation (KEP)
US:NYSE Investor Relations:
home.kepco.co.kr/kepco/en/ntcob/list.do?boardcd=brd_000242&menucd=en03040201
Company Research
Source: Seeking Alpha
Korea Electric Power: Multiple Headwinds Justify Historically Low P/B Summary There could be downside risk to the nuclear power plants' utilization rate, as two nuclear reactors at the Hanbit Nuclear Power Plant are likely to be shut down for maintenance. While KEPCO is expected to benefit from lower fuel costs in 2H2019, this could be partially offset by higher costs associated with renewable energy certificates and carbon credits. KEPCO's balance sheet could further weaken to fund increased capital expenditures. KEPCO is pinning its hopes on a tariff rate increase, which might be challenging. KEPCO currently trades at 0.23 times P/B, representing a new seven-year historical low P/B. Elevator Pitch Korea Electric Power Corporation ( I think that KEPCO's historically low P/B valuation is justified on the basis that the company is hit by multiple headwinds. These include lower nuclear power plant utilization, higher costs associated with renewable energy certificates and carbon credits
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KEP
News
- Korea Electric Power Corporation 2024 Q3 - Results - Earnings Call Presentation [Seeking Alpha]Seeking Alpha
- SPPC awards 7.2GW contracts to consortiums [Yahoo! Finance]Yahoo! Finance
- KF Wind finalises TSA for South Korean floating offshore wind [Yahoo! Finance]Yahoo! Finance
- Mainstream Renewable Power and Ocean Winds project secures grid connection for 1.1 GW floating offshore wind farm in South Korea [Yahoo! Finance]Yahoo! Finance
- Kepco falls after freezing electricity rates, threatening more financial strain [Seeking Alpha]Seeking Alpha
KEP
Sec Filings
- 11/21/24 - Form 6-K
- 11/21/24 - Form 6-K/A
- 11/20/24 - Form 6-K
- KEP's page on the SEC website