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Finance & Earnings

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Mirant Reports Lower Adjusted Net Income

Mirant reported adjusted net income of $86 million for the third quarter of 2010, versus $238 million a year ago, on lower realized value of hedges, lower energy gross margins from proprietary trading activities, lower contracted and capacity revenues, and higher operating costs primarily because of…

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Integrys Energy Services Narrows Adjusted Loss

Integrys Energy Services narrowed its adjusted loss for the quarter at $500,000, versus an adjusted loss of $4.7 million for the third quarter of 2009. Parent Integrys Energy Group will hold an earnings call today; a full report will follow tomorrow.

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Superior Plus Reports Lower Gross Profit

Superior Plus reported lower gross profit from its fixed-price energy services segment of $6.9 million, versus $7.9 million a year ago (all figures Canadian), on lower gas volumes and unit margins, partially offset by higher electric volumes from increased commercial sales.

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Briefly

Superior Plus reported lower gross profit from its fixed-price energy services segment of $6.9 million, versus $7.9 million a year ago (all figures Canadian), on lower gas volumes and unit margins, partially offset by higher electric volumes from increased commercial sales. Superior Plus is holding…

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ConEdison Solutions Margins Lower

ConEdison Solutions reported a net loss of $7 million for the quarter ending September 30, 2010, versus net income of $51 million a year ago, on mark-to-market losses as well as lower retail electric margins.

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NextEra Energy Resources Earnings Rise

NextEra Energy Resources reported third quarter net income on a GAAP basis of $386 million, compared with $212 million in the prior-year quarter. On an adjusted basis, NextEra Energy Resources' earnings were $267 million, compared with $241 million a year ago.

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PPL Supply Earnings Higher

PPL's Supply unit reported higher earnings from ongoing operations of $260 million in the third quarter, versus $124 million a year ago, on higher realized prices for its Eastern baseload generation.

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Exelon Generation Adjusted Earnings Lower

Exelon's Generation unit reported adjusted earnings of $499 million for the third quarter of 2010, versus $504 million a year ago, on lower energy gross margin largely due to lower energy prices under the power purchase agreement with PECO and higher nuclear fuel costs.

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Finance & Earnings News (Page 54) | EnergyChoiceMatters.com