|
Consulting |
Abbreviations |
Search |
Mirant Reports Lower Adjusted Net Income
Email This Story
November 8, 2010
Mirant reported adjusted net income of $86 million for the third quarter of 2010, versus $238 million a year ago, on lower realized value of hedges, lower energy gross margins from proprietary trading activities, lower contracted and capacity revenues, and higher operating costs primarily because of scrubbers installed in December 2009 and the Montgomery County, Maryland carbon dioxide tax imposed on the Dickerson generating facility beginning in May 2010, partially offset by higher energy gross margins from generation.
GAAP net income was $254 million for the quarter, compared to net income of $55 million for the same period last year, with the 2010 quarter reflecting unrealized gains, principally on hedges, of $167 million, and the 2009 quarter reflecting unrealized losses, again principally on hedges, of $174 million.
Total Realized Gross Margin was lower at $361 million versus $466 million a year ago.
Energy gross margin was $171 million for the quarter, versus $72 million a year ago.
The gains reflect higher margins from Mirant's Mid-
Contracted & Capacity gross margin was $135 million, versus $147 million a year ago.
Gross margin from the Realized Value of Hedges was $55 million versus $247 mlilion a year ago.
Copyright 2010 Energy Choice Matters. If you wish to share this story, please email or post the website link; unauthorized copying, retransmission, or republication prohibited.
Be Seen By Energy Professionals in Retail and Wholesale Marketing
Run Ads with Energy Choice Matters
Call Paul Ring
954-
|
Consulting |
Abbreviations |
Search |
