Shares of power producers fell as rising Treasury yields made dividends in the sector look less attractive.
The yield on the 10-year Treasury note closed at its highest level since 2018. U.S. utilities and startup firms are trying to convince lawmakers, regulators and customers that they can convert aging coal power plants to house small nuclear reactors, a so-far unproven way to deliver electricity, The Wall Street Journal reported.
Natural gas utility Southwest Gas rallied after its board authorized a review, including a potential sale, after receiving an “indication of interest well in excess” of a previous bid from activist investor Carl Icahn of $82.50 a share.
Write to Rob Curran at firstname.lastname@example.org
(END) Dow Jones Newswires
April 18, 2022 17:19 ET (21:19 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.