APA +2.57%: Some good news for the provider of energy infrastructure with the Australian Energy Regulator’s (AER) draft decision released today following its review of the form of regulation to apply to the South West Queensland Pipeline (SWQP). There was concern that full price regulation would be applied, however, the draft decision recommended that the existing light regulation regime should remain in place, which is likely to be ratified.
- APA bounced 5% on open, which was about right in our view, however it sold off from those highs during the day.
MM remains long & bullish APA for Income
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