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AltaGas Reports "Marked Improvements" In Retail Energy Marketing Business, Higher Margins From Stronger Pricing Environment (WGL Energy)
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In reporting second quarter results, AltaGas Ltd. reported "marked improvements" in its retail energy marketing business due to, "a stronger pricing environment and improved power and gas margins."
AltaGas reported that normalized EBITDA from the retail energy marketing business was $10 million in the second quarter of 2021 (three months ended June 30, 2021), an increase of $11 million year-over-year, driven by favorable gas and power margins and increased demand from C&I customers
AltaGas reported, "higher gas and power margins from WGL's retail marketing business due to favourable pricing."
U.S. retail electricity sales
volumes for AltaGas' retail marketing segment (WGL Energy) were 3,201 GWh in the second quarter of 2021, compared to 3,151 GWh in the same quarter of 2020. The increase
was primarily due to higher consumption and an increase in customers served by the business
In the second quarter of 2021, the retail marketing segment's U.S. retail gas sales volumes were 9,887 Mmcf, compared to 11,419 Mmcf in the same quarter
of 2020. The decrease was primarily due to lower utilization compared to the same quarter of 2020.
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July 30, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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