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Retail Supplier Sees Growth Opportunity from Volatility-Driven "Shake-Out" in Industry
WGL Holdings is optimistic that its retail energy supply business can benefit from a likely "shake-out" in the retail energy industry prompted by recent volatility.
During an earnings call yesterday, executives cited the last shake-out in the retail energy industry, in 2008 and early 2009 when credit dried up. Executives noted that in 2009, Washington Gas Energy Services had record earnings.
"So our optimism is kind of based on history ... when there's a shake-out [and] players leave the industry, that usually, whether you pay for bringing those customers on by buying a book or you just win the customers in the open market, there tends to be more opportunities for growth in the wake of those kinds of events than there was prior to it," executives said.
Current WGES electric margins are below the $5 to $6 per megawatt-hour guidance range issued in late 2012, but executives see WGES profits coming back to historic contributions in the next couple of years.
EnergyChoiceMatters.com covered WGES earnings yesterday, click here for story
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February 7, 2014
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Copyright 2010-13 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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