Wisconsin Energy Corporation (WEC)
Goldman Sachs 11th Annual Power and Utility Conference
August 14, 2012 8:15 AM ET
George Liparidis – President and CEO, Sempra International
Rick Kuester – EVP and CFO
Martin Lyons - SVP & CFO, Ameren
Caroline Dorsa - EVP & CFO, Public Sector Enterprise Group
Michael Lapides – Goldman Sachs
Ray Leung – Goldman Sachs
Good morning everyone. Let’s start with basic introductions and then we'll kind of dive right into some of the panel topics. First of all I want to thank everybody for participating. I'll obviously start with my left, with George Liparidis, who runs Sempra's International businesses, then Martin Lyons from Ameren, the Chief Financial Officer as well his counter parts of both Public Service Enterprise Group; Caroline Dorsa and Rick Kuester from Wisconsin Energy. And then finally my colleague on the fixed income side, Ray Leung (ph) down on the other end and Ray, I'll actually give you the first question to quick us off.
It's actually an interesting period of time right now. With a topic of a capital allocation, we see a pretty low interest environment. Can you talk about how you guys are may each company is taking advantage of or strategies or how you're thinking about capital allocation with the low interest rate environment and what kind of opportunities you're seeing on that front with 30 year treasury at all-time lows. Maybe we'll start of over with George over at Sempra and how you guys are thinking about the low interest rate environment.