IRDEY - Iren Insulated From Pandemic And Even From Regulatory Change
By Felipe Bijit
Iren (IRDEF) (IRDEY) is an Italian multi-utility operating substantially in regulated businesses, namely municipal waste management and regulatory utilities, but also in power generation. There are a couple of things that make Iren particularly attractive in the current environment. Firstly, electricity as a commodity is relatively resilient under most circumstances, including during lock-downs. Secondly, much of its revenues are in regulated businesses, where income is usually substantially demand-decoupled. What's fantastic about Iren is that its regulated businesses are less likely to be impacted by the deteriorating economy due to its