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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

  • Utilities Struggle With Higher Costs, Lower Revenues

    Published 03 September 2016 | viewed 6,175 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 4,738 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 12,859 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 18,420 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 13,223 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 6,810 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 17,812 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 9,034 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 5,378 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 8,171 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 6,077 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 9,253 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 13,158 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.…

  • How Energy Bids Should Be Done

    Published 21 May 2016 | viewed 4,745 times

    Wine critics ply their wares at blind tasting events. No more watching the glass poured from the bottle with the famous label, which they associate…

  • Can EVs Save Electric Utilities?

    Published 18 May 2016 | viewed 8,914 times

    Electric cars hold the potential to destroy the oil business and save the electricity business. The big question now is when this will happen. Last…

  • What Warren Buffett Can Teach Us About Utility Depreciation

    Published 05 May 2016 | viewed 6,425 times

    The so-called “Woodstock for Capitalists”, the Berkshire Hathaway annual meeting in Omaha, has just concluded. One shareholder resolution, which was voted down, would have reviewed…

  • Lets Stop Pretending Nuclear Power Is Commercially Viable

    Published 29 April 2016 | viewed 35,281 times

    First its new president, Jean-Bernard Levy, said French state utility EDF would delay a decision on its joint French-Chinese nuclear project in the UK, Hinkley…

  • Does A Low Carbon Future Mean More Natural Gas?

    Published 26 April 2016 | viewed 5,353 times

    One hundred seventy one nations signed the UN’s Paris agreement on climate change on April 22. But before that, the European Commission on Climate Action…

  • Will Demand For Electricity Ever Start Growing Again? — The Wall Street View

    Published 20 April 2016 | viewed 13,279 times

    This is really a case of turning the tables, of interviewing the interviewer. In this instance, we interview veteran utility banker, Lewis Hart, whose firm,…

  • Why Small Modular Reactors Are Not The Next Big Thing

    Published 07 April 2016 | viewed 20,735 times

    The cost of building large, conventional nuclear power plants continues to escalate, leading the nuclear industry to explore an alternative, the small modular reactor (SMR).…

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