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Williams : Solar eclipse offers a reminder of the importance of natural gas

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08/18/2017 | 07:08pm CEST

[Attachment] As we look forward to the upcoming solar eclipse on Monday, August 21, it's an important reminder of the important role natural gas plays in making solar-powered electricity possible.

The technology to store solar power when the sun isn't shining doesn't exist. Even a short loss of sunlight caused by an eclipse will create issues for solar electric power generation.

In California, the solar industry has been actively preparing for how to mitigate the issue. The solution? Natural gas.

In a recent article titled 'The Coming Solar Eclipse Is a Big Moment for Natural Gas,' Fortune Magazine reported that natural gas is about to get a glimpse of its future role in the U.S. power mix as solar energy's backup.

'To help keep the lights on, the California Independent System Operator will tap the state's network of gas generators and hydroelectric dams to make up for the loss of about 6 gigawatts of solar output over three hours. Duke Energy Corp. said it will utilize gas generators in North Carolina, the biggest solar state after California, to make up for output that is expected to sink 92 percent to about 200 megawatts in 90 minutes.'

In the article, Steve Krum, a spokesman for First Solar Inc., the largest operator of solar plants in the U.S., explained that events like this are handled similar to a planned outage and routine operations. And Stephen Berberich, the president of California's grid operator California ISO, told Fortune that natural gas will continue to be an important part of the state's backup energy supply for renewables:

'The 'electric grid of tomorrow' will increasingly have to deal with fluctuating power supplies from the wind and sun while incorporating quick-start gas turbines during events like the upcoming eclipse.'

The upcoming eclipse is good evidence that natural gas does not impede the growth of renewables. Rather, natural gas and renewable industries work together to provide our country with reliable, clean and affordable electricity generation.

Read the full article here.

The Williams Companies Inc. published this content on 18 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 August 2017 17:07:02 UTC.

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Financials ($)
Sales 2017 7 695 M
EBIT 2017 2 278 M
Net income 2017 587 M
Debt 2017 20 403 M
Yield 2017 4,14%
P/E ratio 2017 32,73
P/E ratio 2018 28,62
EV / Sales 2017 5,77x
EV / Sales 2018 5,35x
Capitalization 24 031 M
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 34,3 $
Spread / Average Target 18%
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NameTitle
Alan S. Armstrong President, Chief Executive Officer & Director
Stephen W. Bergstrom Chairman
Michael G. Dunn Chief Operating Officer & Executive Vice President
Donald R. Chappel Chief Financial Officer & Senior Vice President
Janice D. Stoney Independent Director
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