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November 26, 2024

earnings

NRG Income Rises on Generation, Tax ‘Release’
NRG reported a 2019 operating income of $4.1 billion, compared to $460 million last year, driven by the release of a $3.5 billion tax valuation allowance.
PSEG’s Izzo Skeptical of FRR Option
PSEG CEO Ralph Izzo expressed skepticism that New Jersey utilities will abandon the PJM capacity market over the expanded minimum offer price rule.
Avangrid Optimistic on NECEC, OSW
Avangrid expects to begin construction this year on the New England Clean Energy Connect transmission project despite a potential referendum in Maine.
Eversource Sees Steady OSW Growth
Eversource touted its potential for offshore wind growth after its 2019 earnings were hit by a $204 million write-off of a failed Northern Pass project.
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Renewables Key to AEP’s Performance
AEP reported fourth-quarter earnings of $153.5 million ($0.31/share), down from $363.4 million ($0.74/share) the year before.
Con Edison 2019 Earnings down Slightly
Consolidated Edison reported 2019 net income of $1.34 billion ($4.09/share), down slightly from $1.38 billion ($4.43/share) the previous year.
PG&E Reports $3.6 Billion Q4 Loss
PG&E reported multibillion-dollar losses in its quarterly and annual reports but expects sustainable financial performance after it emerges from reorganization.
PPL Spells out $14B International Tx Upgrade Plan
PPL told investors it will invest $14 billion over the next five years into hardening its transmission system and incorporating more renewable resources.
WEC Energy Wind Boom to Follow Strong 2019
WEC Energy Group reported year-end net income of $1.13 billion ($3.58/share), up from $1.06 billion ($3.34/share) in 2018.
Xcel Energy Reports Solid 2019 Earnings
Xcel Energy reported year-end earnings of $1.372 billion ($2.64/share), up from 2018’s performance of $1.261 billion ($2.47/share).

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