As extreme weather becomes the norm, investors are betting on whether companies will benefit or take a hit. Read more
Droughts may hit hydro and affect nuclear power generators as well by reducing water needed to generate energy and cool reactors, as happened to the to-be-government-owned Électricité de France SA last year. Extreme weather may drive more demand for clean energy companies such as Scatec ASA in Europe, First Solar Inc. in the United States and Adani Green Energy Ltd. in Asia.
Still, “insurers might be hit in the short term, depending on the severity of the event, but might benefit longer term from higher premiums following an event,” Chamath De Silva, a senior portfolio manager at BetaShares Capital Ltd. in Sydney, said.Companies that count on summer travel may be hurt if the weather is unexpectedly hot, especially if fuel prices are elevated.
Having more frequent and stronger storms in the Gulf of Mexico may push up energy prices in that region, a boon for producers of natural gas, diesel and propane. Hotter and dryer weather in Canada that’s caused India’s hottest February in more than a century, following a spike in cattle deaths caused by a viral skin disease, fuelled a rare drop in dairy production in the world’s largest milk-producing nation. With more high temperatures forecast as summer demand peaks, shares of dairy firms such as Parag Milk Foods Ltd. and Heritage Foods Ltd. are soaring.
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