Sempra Energy on Nov. 5 reported third-quarter 2020 GAAP earnings of $351 million, or $1.21 per share, compared to $813 million or $2.84 per share in the third quarter of last year. When adjusted for positives of $7 million related to its sale of South American businesses and a $22 million g…
PNM Resources, the parent company of Public Service Company of New Mexico, on Oct.30 released third-quarter earnings and three days later announced an agreement enabling PNM to exit coal generation seven years ahead of schedule.
Record summer heat in Arizona once again drove earnings for Pinnacle West Capital Group, the parent company of Arizona Public Service. PNW on Oct. 30 announced earnings of $346.4 million or $3.07 per share for the third quarter of 2020 compared with $312.3 million or $2.77 per share for the …
The Western Energy Imbalance Market set another 2020 record for economic benefits, with $119.3 million accrued in the third quarter.
Edison International, the parent company of Southern California Edison, on Oct. 27 reported a net loss of $288 million, or 76 cents per share, for the third quarter. The figures compare with net income of $471 million, or $1.36 per share, for the third quarter of 2019. As adjusted, third-qua…
PG&E Corp. earned net income of $86 million in the third quarter, a rosier outlook for the utility holding company that had a $1.6-billion loss in the same quarter a year ago.
The economic impacts of the COVID-19 pandemic have not been as dire as predicted, but bad debt could increase due to customer hardship, executives of Minneapolis-based Xcel Energy said during an Oct. 29 third-quarter earnings call.
Sempra CEO Jeff Martin says he is confident the company will retain the franchise it holds with the city of San Diego for San Diego Gas & Electric, noting that SDG&E has served the city since 1881.
PNM Resources, the parent company of Public Service Company of New Mexico and Texas-New Mexico Power, plans $3.3 billion in transmission and distribution infrastructure investments from 2020 to 2023, executives said on a July 31 conference call to discuss second-quarter earnings. The investm…
Executives at Pinnacle West, the parent company of Arizona Public Service, said hotter-than-normal weather led to record-breaking demand and drove up sales and earnings in the second quarter of 2020 despite the continued impacts of COVID-19.
Edison International executives on July 28 said a decrease in earnings for the second quarter of 2020 compared with the same period in 2019 is largely the result of increased operations and maintenance expenses colliding with "customer uncollectibles" and other expenses related to the corona…
PG&E Corp. posted a second-quarter loss of $1.9 billion, a sunnier outcome for the company than the $2.5-billion loss in the same period a year ago, as it and utility subsidiary Pacific Gas & Electric emerge from bankruptcy.
Despite pandemic impacts that have significantly depressed commercial and industrial sales, Xcel Energy of Minneapolis on July 30 reported net income of $287 million, or 54 cents per share, for the second quarter. The figures reflect an increase of $49 million or 8 cents per share compared w…
Pinnacle West, the parent company of Arizona Public Service, posted financial gains for the first quarter of 2020, reflecting weather-adjusted sales growth of 0.8 percent despite the effects of the COVID-19 pandemic.
Executives from Public Service Company of New Mexico on a May 1 conference call told investors and analysts that due to the COVID-19 pandemic it will file in May to the New Mexico Public Regulation Commission to decouple residential and small commercial customer rates from overall sales volu…
Sempra Energy posted higher profits in the first quarter compared with the same period a year ago, with net income of $947 million in the quarter, compared with $518 million in the same quarter last year. Adjusted earnings per share were $3.08 compared with $1.92 in the year-ago period. Semp…
Xcel Energy of Minneapolis, which provides energy to parts of Colorado, Texas and New Mexico, on May 7 reported first-quarter earnings of 56 cents per share, or $295 million, compared with 61 cents per share, or $315 million, for the same quarter in 2019. The company said it has not seen a b…
Edison International has been adjusting its operations to deal with the impact of the COVID-19 pandemic, company executives said as they announced lower profit in the first quarter compared with the same period a year ago.
PG&E Corp. on May 1 reported earnings of 57 cents per share for the first quarter of 2020, compared with earnings of 25 cents per share for the same period in 2019, in accordance with generally accepted accounting procedures. GAAP results include noncore items totaling $205 million after…
PNM Resources, the parent company of Public Service Company of New Mexico and Texas-New Mexico Power, on Feb. 28 reported higher profits in the fourth quarter but lower gains for full year 2019.
Edison International, the parent company of Southern California Edison, on Feb. 27 reported fourth-quarter and full-year results for 2019 that reflect significant gains when compared against the same periods in 2018.
Sempra Energy, parent of Southern California Gas Co. and San Diego Gas & Electric, reported strong financial results for last year. The holding company posted $2.1 billion in profit for 2019 and $447 million for the fourth quarter. That represented adjusted earnings per share of $6.78 co…
Pinnacle West Capital, the parent company of Arizona Public Service, on Feb. 21 reported 2019 net income of $538.3 million, or $4.77 per share, up from net income of $511 million, or $4.54 per share, in 2018. For the quarter that ended Dec. 31, the company reported $64 million in net income,…
PG&E Corp., parent of Pacific Gas & Electric, on Feb. 18 reported a $7.7-billion net loss in 2019, eclipsing its $6.9-billion net loss in 2018.
Xcel Energy of Minneapolis reported strong financial gains and noteworthy emissions reductions in 2019 as it added more than 700 MW in wind capacity. The company plans another 2 GW of new wind in 2020 across its eight-state service territory, which includes Colorado and New Mexico. It will a…
PG&E Corp. said it lost $1.6 billion in the third quarter compared with a gain of $564 million in the same period last year.
PNM Resources, the parent company of Public Service Company of New Mexico and Texas-New Mexico Power, will dedicate resources to transmission upgrades in Texas and regulatory proceedings in New Mexico in the coming months, executives told investors and analysts on a third-quarter earnings co…
Lower-than-average temperatures and humidity drove down third-quarter earnings for Pinnacle West Capital, the parent company of Arizona Public Service.
Southern California Edison equipment was found responsible for the Woolsey Fire, company officials said while discussing third-quarter earnings—just one wildfire-related complication the utility faces.
Planned capital investments will help Xcel Energy procure more renewable resources, launch advanced grid initiatives and improve the customer experience, Ben Fowke, chairman, president and CEO, said as the company announced its third-quarter earnings Oct. 24.
PG&E Corp. on Aug. 9 reported a 2019 second-quarter net loss of $2.6 billion, compared with a net loss of $984 million in the second quarter of 2018, and listed a number of wildfire-related expenses as the primary driver of the losses.
Sempra Energy executives recently joined other utilities in praising wildfire-related legislation signed earlier this year by Gov. Gavin Newsom, saying it improves the operating environment and financial health of the state’s investor-owned utilities.
Pinnacle West Capital Corp. reported that cooler weather in the second quarter led to a financial loss, and also said it is pulling back on investment in energy storage technology after a utility-scale battery exploded at a substation in April.
PNM Resources, the parent company of Public Service Company of New Mexico, reported a loss of $75.9 million in the second quarter of 2019 that executives say is largely attributable to weather.
Southern California Edison on July 25 reported a substantial increase in second-quarter earnings, up $122 million from the second quarter of 2018, and cited new wildfire legislation recently approved by Gov. Gavin Newsom as a primary reason for the growth.
Minneapolis-based Xcel Energy, which serves parts of Colorado, New Mexico and Texas, on Jan. 31 reported 2018 net income of $1.3 billion, or $2.47 per share, compared with $1.1 billion, or $2.25 per share, in 2017. Ongoing 2018 earnings per share were $2.47, compared with $2.30 per share in 2017.
Ormat Technologies Inc. notified investors March 1 that it has delayed filing its annual 10-K report with the U.S. Securities and Exchange Commission, saying it identified a material weakness in internal controls over financial reporting.
Sempra Energy officials speaking on a Feb. 27 earnings conference call focused in part on the company’s views on wildfire risk and Sempra’s bid to acquire the holding company of Dallas-based Oncor. Sempra reported a loss of $501 million for the fourth quarter, or $1.99 per share, compared wi…
Edison International posted a sharp fourth-quarter loss, as the Rosemead, California-based company’s bottom line was hurt by a steep charge at subsidiary Southern California Edison associated with a revised San Onofre Nuclear Generating Station settlement, as well as charges at the utility a…
Southern California Edison is expecting a number of big regulatory decisions this year that could help drive its rate base to $36.4 million in 2020, up from a weighted average of $26.2 million last year, an increase of nearly 39 percent.
S&P Global Ratings on Feb. 22 downgraded Pacific Gas & Electric Corp.’s credit ratings by a notch due to risk exposure related to the October wildfires in Northern California.
Pinnacle West Capital profits rose only 1 percent during 2016, but jumped 30 percent in the fourth quarter of the year as the Phoenix-area economy prospered.
Boosted by solid financial performances at its California utilities, Sempra Energy on Feb. 28 reported fourth-quarter 2016 earnings of $379 million, or $1.51 per share, up from $369 million, or $1.47 per share, in 2015.
PNM Resources’ profits soared in 2016 as the company reversed the fourth-quarter loss it saw in 2015.
Edison International pegged its hopes on a strong performance at utility subsidiary Southern California Edison in the fourth quarter and in calendar year 2016, even as it de-emphasized other underperforming business units.
Rate increases authorized by the CPUC last year helped drive a big jump in operating revenue at Pacific Gas & Electric.
PG&E Corp. sees its financial outlook improving with the resolution of a couple of big regulatory cases.
PNM Resources reported that third-quarter profits declined 11 percent to $54.4 million from $61 million, as the company charged off regulatory disallowances.
Pinnacle West Capital, the parent of Arizona Public Service, reported profits edged up 2.3 percent in the third quarter, although average temperatures were lower than normal.
In his first quarterly earnings call as the new chief executive of Edison International, Pedro Pizarro projected a sense of continuity by reaffirming the company’s earnings outlook for 2016.
