On: California's generation of electricity from coal d...

[intrasight]

The fuel itself (reserves in the ground) is the largest component of that "stranded asset", right?

[toomuchtodo → intrasight]

For the exploration company? Yes. For utilities or independent generators, the generation asset itself is the largest component.

I'm unaware of anyone vertically integrated, where they own the wells, the pipelines, and the generation facility (in the US).