Utility Guy, they have already signed up with Origin Energy to take all their power from Portland, the TV ads from Origin are now appearing daily on Melbourne television. They currently have a PE of 15.11 which is dirt cheap merely based on present income, when the Federal government approve the project your $6 will easily be seen, certainly way before xmas. Processing the hard data on revenue projects a price of $20 by 2005 but it could go a lot higher indeed if Chile expands their hydro needs This is very likely in light of their past statement on future electricity needs. I do not think the market has really grasped what is happening here, it has been sceptical on gaining approval from government which has now been proved as wrong thinking, it has underestimated the very healthy financial state of the company, and it has underestimated where they are going. Now it is waiting on Federal approval, as if somehow there is still some doubt, -wrong again.
Canberra desperately need PHY and like initiatives to get it off the hook. This is regarded as an industry for the 21st century and it can help phase out problems we now confront from 18th century coal burning practices. You have to ask yourself why the largest power company in the United States owns 20% of PHY, they know something of what is about to come.
