Matthew Smith
speaker
466 appearances
1 recordings
1 series
first heard Jul 2026
last heard 21 Jul
Matthew Smith’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
The stock has plummeted over the last six months as a part of that search.
And it's trading at four times EBITDA on a forward curve where no one believes what I'm telling you to be the case, even though we think modeling the facts gets you to a much higher gas price.
The stock has dropped.
The assets have not changed.
It has some of the highest quality rock in the country.
Highest quality upstream company in Appalachia is probably Range.
Range has significant room to grow production and materially grow returns to investors.
So those would be the upstream companies.
It's not going to be obvious in the first pass through this equation for most, but natural gas sets as the marginal fuel.
for the next in line power generating asset in each power market.
As natural gas goes, power prices go in the country.
And so if you think about the dispatch curve of different generating assets in the country, there are some where the fuel is free.
That'd be solar, to a lesser extent wind, hydro.
Well, solar assets, which are growing meaningfully, they've been 90% of the interconnect key with batteries in the last 10 years in terms of new assets coming on other than gas.
Solar assets stand to benefit from a windfall where electricity prices are going up because the marginal plant taking fuel where the price is increasing is rising while sun costs the same.
We think there are some companies positioned very well for margin expansion for no incremental capital costs.
XPLR, tickers XIFR, formerly Nextera Yield Co., which is an interesting set of assets.
They have a windfall coming in the latter part of the decade because they mark their PPAs to market at much higher values without any capex.
Clearway Energy would be another one, similar circumstance.
And so solar assets at the utility scale especially stand to win.
Showing 201–220 of 466 · page 11 of 24
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