OPG's long-term corporate credit rating increased to A-
At the same time, S&P affirmed the "A-2" global scale and "A-1(Low)" Canada scale commercial paper rating on OPG. The outlook is stable.
In its announcement, S&P stated that the upgrade in OPG's long-term rating reflects a "closer relationship between the company and its higher-rated owner, the Province of Ontario (AA/Stable/A-1+); and a slightly stronger stand-alone credit profile, given regulatory support and an expected improvement in cash flow metrics".
In addition, it was noted that regulatory oversight by the Ontario Energy Board with respect to establishing regulated prices for OPG's baseload nuclear and baseload hydroelectric assets, a diverse generation portfolio, and cost-competitive position support OPG's strong business risk profile.
In September 2005, S&P affirmed OPG's long-term corporate credit rating at BBB+ and revised its outlook to "positive" from "developing".
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Coronavirus impacts dismantling of Germany's Philippsburg nuclear plant
BERLIN - German energy company EnBW said the coronavirus outbreak has impacted plans to dismantle its Philippsburg nuclear power plant in Baden-Wurttemberg, southwest Germany.
The controlled detonation of Phillipsburg's cooling towers will now take place in mid-May at the earliest.
However, EnBW said the exact demolition date depends on many factors - including the further development in the coronavirus pandemic.
Philippsburg 2, a 1402MWe pressurised water reactor unit permanently shut down on 31 December 2019.
At the end of 2019, the Ministry of the Environment gave basic approval for decommissioning and dismantling of unit 2 of the Philippsburg nuclear power plant, inluding explosive demolition…
