Tuesday, November 4, 2008

Utilities: PEPCO Earnings Down on Lower Usage, Milder Weather (POM)

I've seen a half dozen utilities mention the cool summer in their results. We have two headlines* from StormWire in the linkvault.
From CNN Money:

Utility Pepco 3rd-qtr profit drops 29 percent

..."During the third quarter, our results were adversely affected by lower sales in our power delivery business caused by both milder weather and lower non-weather related customer usage," said Dennis R. Wraase, the company's chairman and CEO....MORE
*Oct. 3
Cool Summer Stings Kansas Electric Company Profits

Oct. 24
Cool Summer Cuts into Colorado Utility Profits