|
Consulting |
Search |
NextEra Customer Supply Business Results Dip in Fourth Quarter, Up for Fiscal Year
Email
This Story
January 26, 2011
NextEra Energy, Inc.'s Customer Supply business recorded lower contributions to its parents earnings in the fourth quarter of 2010, but for the full fiscal year 2010, improved its parent's earnings by about $42 million.
The Customer Supply business includes retail marketing under Gexa Energy (now branded
as NextEra in non-
In the fourth quarter, the Customer Supply business recorded lower earnings which
negatively impacted the parent's earnings by $8 million versus the year-
For the full fiscal year, improved results at the Customer Supply business lifted
its parent's earnings by $42 million versus fiscal 2009. The improvement was due
to a strong full requirements business as well as Gexa retail and mid-
NextEra CFO Armando Pimentel told investors that the company is seeing, "pretty decent and strong business in both our retail business and full requirements business."
COO James Robo added that, "from a retail standpoint, we're seeing good growth opportunities in Texas. And frankly, there's good headroom in PJM and some of the northern markets as well."
Asked about migration risk for the full requirements business, given increased shopping levels in several states, Pimentel said that NextEra has appropriately priced migration risk and, "[we] haven't been too surprised by what's happened this year."
Pimentel cited weather as a larger risk than migration for the full requirements business.
NextEra has not yet filed a 10-
Copyright 2010-
Be Seen By Energy Professionals in Retail and Wholesale Marketing
Run Ads with Energy Choice Matters
Call Paul Ring
954-
|
Consulting |
Search |