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Leonard Hyman & William Tilles

Contributor since: 08 Dec 2015

Leonard Hyman & William Tilles

Leonard S. Hyman is an economist and financial analyst specializing in the energy sector. He headed utility equity research at a major brokerage house and has provided advice on industry organization, regulation, privatization, risk management  and finance to  investment bankers,  governments and private firms, including one effort to place nuclear fusion reactors on the moon. He is a Chartered Financial Analyst and author, co-author or editor of six books including  America’s Electric Utilities: Past, Present and Future and  Energy Risk Management: A Primer for the Utility Industry. 

You can find Leonard Hyman's lastest book Electricity Acts on Amazon 


William I. Tilles is a senior industry advisor and speaker on energy and finance. After starting his career at a bond rating agency, he turned to equities and headed utility equity research at two major brokerage houses and then became a portfolio manager investing in long/short global utility equities. For a time he ran the largest long/short utilities equity book in the world. Before going into finance, Mr. Tilles taught political science .

Latest articles from Leonard Hyman & William Tilles

  • Why Are Investors Willing To Pay So Much For UK Utilities

    Published 02 October 2016 | viewed 6,702 times

    National Grid and SSE, two of the UK’s largest utilities, have announced that they are planning to sell all or part of their gas distribution…

  • Can Donald Trump Really Save U.S. Coal?

    Published 27 September 2016 | viewed 15,590 times

    On September 22, Donald Trump reaffirmed his intent to revive the American coal industry--without many details on how to do it. What influences the price…

  • Are Low Interest Rates Bad For Energy?

    Published 21 September 2016 | viewed 6,878 times

    Money today costs practically nothing. A recent study out of the Federal Reserve Bank of San Francisco set the “natural“ rate of interest at about…

  • Ethical Investing: Duke Energy Bounced From Norway Sovereign Wealth Fund

    Published 17 September 2016 | viewed 7,812 times

    Norway’s sovereign wealth fund, the biggest in the world, has just sold all the equity shares of Duke Energy it owned from its portfolio. Duke…

  • Despite Criticism, Prime Minister May Gives Go-Ahead To Hinkley Point

    Published 15 September 2016 | viewed 13,354 times

    Prime Minister May on Thursday approved construction of the Hinkley Point C nuclear facility despite much publicized design flaws, delays, criticism and cost overruns. This…

  • World’s Smartest Investor Outperforms With Boring Utilities

    Published 09 September 2016 | viewed 11,973 times

    Warren Buffet doesn't need the likes of us touting his investment acumen. His holding company, Berkshire Hathaway, has compiled a stunning record of achievement over…

  • Spike In Grid Failures: The Next Big Headache For Utilities

    Published 04 September 2016 | viewed 14,258 times

    Reliability of the electrical grid is a big piece of the "package" that franchise-owning electric companies sell their customers. Just trust the local utility. No…

  • Utilities Struggle With Higher Costs, Lower Revenues

    Published 03 September 2016 | viewed 6,604 times

    U.S. investor-owned electric companies will spend 17 percent more on new equipment in 2016 than in 2015 despite slow-to-no sales growth, according to the Edison…

  • How British Energy Regulations Benefit Investors

    Published 13 August 2016 | viewed 5,168 times

    During the glory days of Margaret Thatcher, the British instituted a new kind of utility regulation. It was modeled after a price control scheme designed…

  • New York Nuclear Plants Deemed A “Public Necessity”

    Published 07 August 2016 | viewed 15,943 times

    Last week the New York Public Service Commission approved a Clean Energy Standard for the state. The two key components are a mandate for 50…

  • Why The UK Postponed This Nuclear Megaproject

    Published 05 August 2016 | viewed 27,187 times

    Late last week UK Prime Minister, Theresa May, told France’s Hollande that she wanted more time to review the Hinkley Point nuclear project. The Board…

  • Powering The Internet Of Things

    Published 02 August 2016 | viewed 14,143 times

    Years ago, at an electric utility conference, we listened to an optimistic presentation about a significant new addition to electricity demand, the personal computer. (You…

  • Why Utilities Won’t Be Upended By Renewables

    Published 30 July 2016 | viewed 7,318 times

    Experts, especially in finance, often have a deservedly bad reputation. Their predictions, especially about things like the direction of interest rates or stock prices, are…

  • What Will Trump’s Nuclear Energy Policy Look Like?

    Published 19 July 2016 | viewed 18,936 times

    The UK’s new Prime Minister, Theresa May, made significant changes to her ministry structure. She abolished the Department of Energy and Climate Change (DECC) and…

  • Why Did China Grossly Overpay For A Utility In Brazil?

    Published 10 July 2016 | viewed 9,895 times

    Chinese state energy companies are huge by international standards. Their government wants them to expand overseas and they seem indifferent to conventional standards of profitability.…

  • Why Utilities Have To Decrease Dividends

    Published 07 July 2016 | viewed 6,366 times

    Electric companies, at least the ones trading on the U.S. stock exchanges, are either fully regulated, partly regulated/partly competitive or fully competitive entities. Most of…

  • Is Wall Street Right About Electric Utility Stocks?

    Published 29 June 2016 | viewed 9,172 times

    “Electric utility stocks are overstretched.” That’s the way Wall Streeters talk. They mean, “Electric utility stock prices are too high,” which is a polite way…

  • Big Oil Faces Looming Threat from Climate-Conscious Investors

    Published 26 June 2016 | viewed 6,797 times

    Bank financing of fossil fuel and mining projects is “undermining” the recently signed Paris climate accord. This is according to “$horting the Climate: Fossil Fuel…

  • Where Does Wall Street See Nuclear Energy Going?

    Published 16 June 2016 | viewed 10,054 times

    Capital markets assess risks and business prospects. If they like something, the money flows. If not, pity the firm trying to raise funds. This is…

  • Can Trump Change The Direction Of U.S. Energy?

    Published 14 June 2016 | viewed 14,792 times

    The missing document might be titled “Trump's Electricity Policy Will Make America Great Again." Donald Trump, the GOP's presumptive Presidential nominee, has a utility policy.…

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