Due primarily to unusually warm first quarter weather, increased electric utility power supply costs related to the Palisades nuclear plant outage, and continued weak economic conditions, CMS Energy Corp. posted first quarter operating net income of $96 million ($0.72 per share), compared to first quarter 2001 operating net income of $108 million ($0.84 per share). Despite the fall-off, CMS reaffirmed its earnings per share (EPS) guidance for operating net income for the full year. The company also reported that it has closed on two previously announced asset sales.
Unusually
Articles from Unusually
Study of a Market Gone Wrong
Market factors, including increased costs for natural gas and NOx credits, increased demand, scarce resources and unusually high temperatures throughout the West, coupled with flawed market design and regulatory policies, and possibly some exercise of market power were responsible for the high power prices in California this past summer, according to the FERC staff report on bulk power markets released last week.
November 6, 2000
Study of a Market Gone Wrong
Market factors, including increased costs for natural gas andNOx credits, increased demand, scarce resources and unusually hightemperatures throughout the West, coupled with flawed market designand regulatory policies, and possibly some exercise of market powerwere responsible for the high power prices in California this pastsummer, according to the FERC staff report on bulk power marketsreleased yesterday.
November 2, 2000
Special Forward-Market Purchases Proposed for SDG&E on Cal-PX
By the end of last week with rising temperatures, peak demandand political heat, San Diego Gas and Electric Co. and theCalifornia Power Exchange (Cal-PX) worked out a proposal for theutility to purchase fixed price electricity through forward marketsalready in place at the Cal-PX over a longer term five- tonine-month period into next spring. SDG&E has asked stateregulators to okay the purchases at their Aug. 3 meeting.
July 24, 2000
Prices Mostly Lower in Subdued Trade
Following a frenetic week of April trading featuring near20-cent price swings and unusually high volume in both futures andcash markets, Monday’s market exhibited a calmness that remindedtraders April is a shoulder month. But, regardless of the smalllosses and lack of excitement generated yesterday, prices are stillat their highest levels since the December bidweek and as much as80 cents above year ago levels.
April 7, 1998
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