Calpine Reports Results From Retail Segment

In reporting earnings for the quarter ending September 30, 2018, Calpine reported results from its Retail segment

Calpine said that Commodity Margin for its Retail segment increased by $10 million, or 10%, to $111 million for the three months ended September 30, 2018, from $101 million a year ago, primarily due to higher contribution from hedges related to its retail activities in the West partially offset by higher power supply costs in Texas in the third quarter of 2018 compared to the same period in 2017.

Retail segment income from operations was $37 million for the three months ended September 30, 2018, versus a loss from operations of $22 million a year ago. The income from operations results reflect mark-to-market impacts

Retail segment total operating revenues were $1.125 billion for the three months ended September 30, 2018, versus $1.091 billion a year ago

Across all segments, Calpine's operating and maintenance expense increased by $20 million for the three months ended September 30, 2018 compared to the same period in 2017. While this was primarily driven by an increase in normal, recurring operating and maintenance expense due to higher variable operating costs resulting from restarting its Sutter and South Point Energy Centers during 2018, Calpine also cited, "higher retail costs including marketing expenses," as a factor driving the increase