Calpine: Retail Business Exceeded Expectations For Residential Sales In Texas, C&I Sales

In a 10-K reviewing 2019 results, Calpine said that, "our retail business exceeded expectations in residential sales in Texas and at Calpine Solutions."

Calpine said that its retail businesses provided approximately 60 billion KWh to customers in 2019, consisting of approximately 6 million annualized residential customer equivalents

Calpine reported that Commodity Margin for its Retail segment was $382 million for the year 2019, up $25 million from $357 million a year ago, "primarily due to increased contribution from gas supply hedging activity associated with our retail gas business and lower costs."

Total operating revenues for the Retail segment was $4.09 billion for 2019, versus $3.98 billion a year ago. For the Retail segment, Revenue from Contracts with Customers for 2019 was $1.69 billion, versus $1.86 billion a year ago

Income from operations, which reflects the impact of mark-to-market commodity activity, for the Retail segment was $31 million for 2019, versus $204 million in 2018