Integrys Energy Services Earnings Lifted by Improved Margins, Lower Costs

Adjusted earnings at Integrys Energy Services were $7.7 million for the third quarter, reversing the year-ago loss of $300,000 in core earnings at the competitive unit.

The improvement was attributed to changes in pricing and customer mix as part of Integrys Energy Services' prior strategy change, which grew per unit margins. Reduced operating expenses also lifted earnings.

Realized retail electric margins were $27.3 million for the quarter, versus $20.7 million a year ago.

Realized per unit retail electric margins expanded to $7.79/MWh in the quarter, from $6.14/MWh a year ago.

Physical retail electric volumes were 3,504.6 GWh for the quarter, versus 3,373.5 GWh a year ago.

Realized retail natural gas margins, excluding the impact of lower of cost or market accounting, were higher at $4.2 million for the quarter, versus $3.3 million a year ago.

Realized retail natural gas per unit margins were $0.23 per dekatherm versus $0.15 per dekatherm a year ago.

Physical retail natural gas volumes were 18.3 billion cubic feet in the first quarter, versus 21.6 billion cubic feet a year ago

Revenues for Integrys Energy Services were $337.1 million for the quarter, versus $396.3 million a year ago.