UGI Energy Marketing Segment Reports Lower Retail Commodity Margin, Cites Lower Volumes From COVID-19

In reporting earnings for the quarter ending June 30, 2020, UGI Corporation said that its Midstream & Marketing segment, which includes retail supplier UGI Energy Services, saw lower retail commodity margin, largely related to lower volumes attributable to COVID-19

While Midstream & Marketing total margin for the quarter increased $21.4 million to about $63 million, reflecting higher natural gas gathering margin ($24.6 million) largely attributable to incremental margins from UGI Appalachia and, to a much lesser extent, higher capacity management margin ($2.4 million), the effect of these increases was partially offset by lower retail commodity margin ($2.3 million) largely due to lower commercial volumes attributable to COVID-19, as well as lower service-related margin ($2.0 million) and decreased electric generation margin ($1.5 million), the company said

Midstream & Marketing segment EBIT was $20.4 million for the quarter, compared to $4.3 million in the prior-year period