Methodology changes

A dated log of changes to how our reports are built, and of corrections. Updated Oct 27, 2026.

October 27, 2026: Electricity source upgrade and visual tables

Electricity report: news and market-data citations were replaced with company originals on SEC EDGAR (NextEra, Talen, NRG and GE Vernova results releases; Constellation's Crane announcement), Ameren's earnings slides and the fund sponsor's page for XLU. Two sources were also re-tagged to match their publisher (a Congressional Research Service report as official data, a SEC registration statement as company). Official and company sources rose from 32 of 76 to 36 of 71; market data and news fell from 25 to 17.
Corrected against the originals: NRG's 1.2 GW Texas gas plant for a hyperscaler has agreed principal terms but no final contract, and NRG has not disclosed its length or earnings, so we removed those details. Ameren has 2.8 GW of signed large-load contracts, not 2.2 GW, and targets 6–8% a year EPS growth. GE Vernova's 2026 consensus EPS is $15.17, putting its forward P/E near 54, not 27. Talen's results release does not give an Amazon ramp date, so we dropped it.
Share prices now use one cutoff, the Oct. 23, 2026 close, and consensus estimates were refreshed; several prices were stale (Southern $92.89, not $83; NextEra $82.10, not $78). GRID's +6.7% is a one-year return, not year to date.
Turbine lead times are now stated from GE Vernova's own figures (116 GW of gas turbine orders and reserved slots) instead of a secondary report of 2031 delivery dates and five-year build times we could not trace to an original. Barclays issuance projections reported second-hand were removed.
New visuals replace dense tables: a company scorecard (growth, valuation and risk), a credit ratings ladder with outlooks, and a simpler ETF table. Page 2 adds an "If you read one page" line for bondholders, equity investors and households.
Readers can now report errors (see the FAQ); corrections are logged here.

October 26, 2026: nine-section reports

Every report now has a key statistics page, three scenarios with Point75's odds, a bondholder section, a region-by-region (or program or buyer) page and six dated calls that later editions will grade.
Sources are tagged by type in each report's appendix (official data, company, research, market data, news), with the mix stated in the methodology. A new page lists every source by report.
Written sourcing standards: official data first, cite the original, check every figure, never cite what has not been seen.
Source upgrades in the Electricity report replaced secondary sources with EIA and Treasury data. Two figures changed as a result: the latest home power price (18.16¢ per kWh in August, up 3.4%) and the 2026 high of the 10-year Treasury yield (5.31% on October 5, not 5.36%).

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