Electric Power Companies Plan 769 Gigawatts of Power Plants Worldwide Over 10 Years, Spending Roughly $500 Billion, According to Recent Platts Data.

Business Editors

WASHINGTON, D.C.--(BUSINESS WIRE)--July 20, 2000

Electric power companies are planning 769 gigawatts (GW) of new capacity worldwide in the next 10 years, representing an investment of about $500 billion and the equivalent of 1,500 utility-scale (500-megawatt) stations, according to the latest information from Platts' Utility Data Institute (Platts/UDI). Platts is the world's premier energy market information service and a division of The McGraw-Hill Companies (NYSE: MHP).

The planned new capacity worldwide is roughly equivalent to all the existing power plants already operating in the U.S., which is also the region experiencing the greatest demand. The 10-year Platts/UDI forecast represents an 11% increase over last year's tally.

"These are boom times for equipment suppliers and contractors in the U.S. and Canada because domestic power producers are making major new investments in North America," said Christopher Bergesen, vice president of Platts/UDI. "This growth in the North American market has more than made up for continued power plant construction delays and deferrals in Asia and modest prospects in Europe."

In North America, scheduled capacity additions for the next 10 years have doubled to 170 GW from 85 GW in 1999. On a regional basis, new capacity in the 10-year block is distributed as follows: Asia, 342 GW; Latin America and the Caribbean, 79 GW; European Union, 59 GW; elsewhere in Europe 11 GW; Middle East, 53 GW; Russia and other republics of the former Soviet Union, 17 GW; and the rest of the world, 38 GW. Service dates for an additional 736 GW of projected new capacity are also planned for after 2008.

The data is culled from Platts/UDI's `World Electric Power Plants Database,' which contains information on 9,583 projected facilities at 4,865 locations. The database is compiled with a conservative, "bottoms-up" research approach, based on a company-by-company, unit-by-unit method using direct surveys and a wide variety of other sources. It may be ordered from the UDI Aisle (Aisle 11) in the Platts Energy InfoStore at www.platts.com, which provides more key deal-making information than any other energy Web site, or by calling [phone]; fax, [phone]; e-mail, info@platts/UDIdata.com.

Platts is the world's largest and most authoritative provider of energy market information, with more than 325 professionals worldwide and products ranging from real-time and Internet-based news services, to market reports, databases, magazines and conferences. The company is also a leading provider of news, pricing and analysis on the global metals market. Every day, about $4 billion of trading activity is based on Platts price reporting. Additional information is available at www.platts.com.

Founded in 1888, The McGraw-Hill Companies is a global information services provider serving the financial services, education and business information markets through leading brands such as Standard & Poor's, Business Week and McGraw-Hill Education. The corporation has more than 400 offices in 32 countries. Sales in 1999 were $4.0 billion. Additional information is available at http://www.mcgraw-hill.com.