Utility PPL Corp. (PPL), first written about on May 26, 2009 at a price of $32.15, is a utility I still like, for several reasons.

First and foremost, PPL's business model remains solid: steady, if unspectacular growth in its regulated Pennsylvania power market (1.4 million customer), coupled with stronger growth in unregulated (though more risky) power markets. PPL hopes the increased use of power supply contracts of varying duration will lessen that risk.

"The road back from near bankruptcy in 2002 for CMS Energy (NYSE: CMS) has been a rocky one," says Roger Conrad. Here's an update from his specialty service, The Utility Forecaster.

"From Three Mile Island to the Enron meltdown, utilities have always recovered from disaster by cutting debt and operating risk and repairing regulatory relations.

"Last fall, the shares of CMS Energy -- our latest featured growth stock -- plunged from high teens to single digits on recession worries in embattled Michigan. Ironically, however, CMS' underlying business is healthier than at any time since the late 1990s.

"For those in search of a pure play in the water infrastructure sector, my favorite bet is Insituform (NSDQ: INSU)," says Roger Conrad in his newly-launched advisory service, The New World.

Conrad explains, "Its most innovative product is its fast-growing 'trenchless' repair service to aging and cracked pipes." Here's his review.

"Rather than dig up and replace actual pipes, the process involves injecting a compound into the pipe itself which acts to seal any breaches. The result is a lower cost and far less intrusive repair.

"Insituform has languished in recent years, as overly aggressive expansion by prior management ran up against a brick wall of stagnant to falling system investment by municipalities.

"For more than 180 years, Consolidated Edison (NYSE: ED) has served the world's most dynamic and demanding marketplace: metropolitan New York," notes Dennis Slothower in his Stealth Stocks newsletter. Here, he explains why ConEd is his "stock of the month."

"Con Edison, our latest 'stockj of the month' provides electric service to about 3.2 million customers and gas service to approximately 1.1 million customers in New York City and Westchester County.

"It also provides electric service to 300,000 customers in southeastern New York and adjacent areas of northern New Jersey and eastern Pennsylvania.

"Con Edison's competitive energy businesses participate in segments of the electricity industry that are less comprehensively regulated than our regulated businesses.

"These segments include the operation of electric generation facilities, trading of electricity and fuel, sales of electricity to wholesale and retail customers, and sales of certain energy-related goods and services.

"I can't tell you how tough it is to find and recommend a company based on my strict selection criteria. I have never seen so many stocks in my universe in steep down trends. While there are some good companies paying high dividends, their stocks are in a free fall.

"Con Edison is a strong utility company that I feel confident will continue to pay a nice fat dividend. The 10-year U.S. Treasury bond is yielding about 4%, while Con Ed's dividend is yielding 5.3%. We get a good combination in Con Ed: a high yield and possible increase in the stock price."

Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.

"The positive side to any correction is that it brings valuations down to earth for stocks you may have thought were out of your reach," says Genia Turanova.

The contributing editor to Stephen Leeb's The Complete Investor explains, the "Along with the energy sell-off, unregulated utilities have declined even more-to bargain levels." Here's a look at Florida-based FPL Energy (NYSE: FPL).

"FPL is one of our favorite alternative energy holdings. And with the recent selloff, its yield once again qualify the stock as a legitimate full-fledged income plays.

"And as its quarterly results indicate, the unregulated utility is relatively immune to the nation's slowdown, making them among the surest growers in the marketplace today.

"The skies over the Sunshine State have been quite dark because of the housing sector's woes and the subsequent credit crunch. As a result, the Florida-based company's adjusted earnings per share increased 'only' 8% on a year-over-year basis.

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is one of 100+ ideas in the Best Stocks for 2008 report.

"Our favorite conservative pick for 2008 is natural gas transmission, storage, and distribution company Southern Union (NYSE: SUG)," says Bill Martin, editor of BullMarket.com.

"Over the last few years, Southern Union has transformed itself from a staid utility company to a faster-growing pipeline and LNG-centric company. The company recently announced plans to create its own master limited partnership (MLP) into which it will transfer a portion of its gathering and processing assets.

"Southern Union's stock has been under some pressure recently, as investors were disappointed that the company didn't sell its pipeline assets to another MLP after being offered a substantial premium to its purchasing price a few years ago. However, management believes these assets can create greater shareholder value over time as a standalone MLP, and we agree.

"We expect several catalysts to kick-in for Southern Union in 2008. Under the favorable tax structure of an MLP, the market should value Southern Union's pipeline assets at a much higher multiple than they are currently priced at.

Given investors anxiousness about the economy and hearing more gloom and doom than I think is warranted, I thought I would get back to basics with "my pal" Warren, and add to the series I started several months ago. I decided to write the series after receiving encouragement from friends and associates that read With Warren Buffett by my side ....

Today, I am writing about the concept of Durable Competitive Advantage, which is the ability to get ahead and stay ahead with a high level of certainty. It is also referred to as Sustainable Competitive Advantage.

To achieve a Durable Competitive Advantage, several factors have to be present. One is a big moat (Buffett expression) surrounding the enterprise. This usually means businesses that sell commodities where price is the primary factor in determining opportunity, have no moat as price takers. Their profit margins are not easily defendable. Another factor is barrier to entry. How easy would it be for someone to enter the same business and compete? The T-shirt business is a good example, of something without a Durable Competitive Advantage. Anyone could enter this business in one day, and they do. So unless the business has some unique concept, it does not have the promise of relatively predictable and sustainable profit margins in the future.