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Calpine Reports Commodity Margin For Retail Segment For Q2
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Calpine reported results for the quarter ending June 30, 2020 (second quarter)
In its Retail segment, Calpine reported Commodity Margin of $89 million for the second quarter, versus $93 million a year ago
For the Retail segment, total operating revenue was $720 million for the second quarter, versus $1.08 billion a year ago
For the Retail segment, income from operations was $94 million for the second quarter, versus a loss of $140 million a year ago. The income from operations data reflects the impact of mark to market commodity activity
Calpine said that, "To date, the COVID-19 outbreak has not had a material adverse effect on our operations, financial condition or cash flows. While the ultimate determination depends on the length and severity of the crisis, at this time, we anticipate our cash flows from operations and our available sources of liquidity will be sufficient to meet our current cash requirements during this period. As the impact of the COVID-19 outbreak on the economy and our operations evolves, we will continue to assess and manage our liquidity needs."
"The ultimate extent to which the COVID-19 pandemic may impact our business, operating results, financial condition or liquidity will depend on future developments, including the duration of the outbreak, continued business and workforce disruptions, the effectiveness of actions taken to contain and treat the disease and the lasting effect on the economy, especially in the geographic areas where we own and operate power generating facilities and serve retail customers. Given the uncertainty concerning the overall impact of the COVID-19 outbreak, while we do not anticipate the effect of the outbreak to have a material adverse effect on our financial condition, results of operations or cash flows for the year ended December 31, 2020, we are unable to predict the ultimate impact of the outbreak on our future results," Calpine said
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Reports No Material Adverse Effect On Operations, Financial Condition Or Cash Flows From COVID-19
August 13, 2020
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Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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