Utility companies use General Rate Case (GRC) proceedings to increase consumer electricity prices to ask for an increase in rates on the basis of its total...
- Pinnacle West Capital Corp posted a quarterly profit from year-ago loss on Thursday, on the back of customer growth , increased sales and new rates.
The Phoenix, Arizona-based utility said it also benefited from the utility's 2019 rate case and higher income due to the sale of a former subsidiary along with the impact of new retail base rates which took effect on March 8. "The first quarter proved to be a strong start to our year and continued to build on the momentum of a growing and diverse customer base," said Pinnacle West Chief Executive Officer Jeff Guldner, in a statement, citing 1.8% year-over-year customer growth and weather-normalized sales growth of 5.9%.
Its revenue was $951.7 million, up from $944.9 million a year earlier. It, however, missed analysts' estimate of $981.8 million, according to LSEG.Bitcoin Plunges. Here’s Why and How Far Prices Could Fall.TFSA investors could capitalize on these top Canadian stocks to generate tax-free capital gains and dividend income. The post TFSA: 3 Canadian Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.The Canadian dollar strengthened against its U.S.
Customer Growth Electricity Prices Quarterly Profit
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pinnacle Hires Royal London Equities Team Members for New UnitPinnacle Investment Management Group said it was establishing a new affiliate after hiring members of Royal London Asset Management’s global equities team.
Read more »
27 Must-Haves For Plant Parents Reaching for the Leafy PinnacleIf greener pastures are what your heart desires, then this article is custom-made for you!
Read more »
N.L.'s Pinnacle AAA Growlers miss playoffs at 2024 Under-18 AAA Atlantic ChampionshipsExplore stories from Atlantic Canada.
Read more »
Alberta tables legislation seeking more control over utility ratesThe legislation would limit the way city-owned utility companies, such as Calgary’s Enmax and Edmonton’s Epcor, calculate local access fees for electricity and natural gas
Read more »
Texas Utility Makes Case Pipelines Set ‘Unconscionable’ PricesOperations and marketing teams for a Texas pipeline company coordinated to sell gas at ever higher prices during a deadly winter storm in 2021, attorneys for the nation’s largest municipally owned electric and gas utility argued in a San Antonio courtroom.
Read more »
Puerto Rico Utility Bondholders Seek Bigger Bankruptcy PayoutsBondholders of Puerto Rico’s bankrupt power utility are pushing for the court to increase what they stand to recover as new projections show the company’s revenue is likely to outstrip expectations due to higher electricity consumption.
Read more »