CenterPoint Energy Reports Results From Retail Marketing Business
May 09,2019
CenterPoint Energy, Inc. reported earnings for the first quarter of 2019
CenterPoint's Energy Services segment reported operating income of $33 million for the first quarter of 2019, which included a mark-to-market gain of $19 million, compared with an operating loss of $26 million for the first quarter of 2018, which included a mark-to-market loss of $80 million. Excluding mark-to-market adjustments, the Energy Services segment's operating income was $14 million for the first quarter of 2019 compared to $54 million for the first quarter of 2018.
The Energy Services segment includes CenterPoint Energy's retail natural gas marketing business
The Energy Services segment's operating income, excluding mark-to-market adjustments, decreased primarily due to a reduction in margin resulting from reduced weather-related opportunities to optimize natural gas costs. "Much of this reduction was anticipated given the very strong first quarter 2018 performance which concentrated annual optimization revenues into the first quarter of 2018," the company said
The Energy Services segment had 30,000 customers as of March 31, 2019, which is flat versus December 31, 2018 and the year-ago period
The Energy Services segment's throughput was 379 BCF for the first quarter of 2019, versus 375 BCF a year ago
The Energy Services segment reported Gross Margin of $64 million for the first quarter of 2019, versus $4 million a year ago
The Energy Services segment reported revenues of $1.246 billion for the first quarter of 2019, versus $1.285 billion a year ago