Profits of Unregulated California Generators
Source: Press releases. Reported earnings are for the entire
company, not specifically for subsidiaries which own generation assets serving the
California market (unless otherwise noted).
· AES Corporation - Announced on July 27, 2000, that net
income was $111 million for the quarter ended June 30, 2000, a 56% increase over
net income of $71 million for the second quarter of 1999. (4066 MW)
· Calpine Corporation - On July 24 Calpine announced net
income for the quarter ended June 30, 2000 of $51.7 million, representing a 176%
increase compared to net income of $18.7 million before extraordinary charge for the
same period in 1999. (871 MW)
· Duke Energy - reported earnings before interest and taxes
(EBIT) of $837 million for the second quarter of 2000 for its gas and electric businesses,
compared to $568 million for the same quarter last year - an increase of 47%. (2950
MW)
· Dynegy - reported recurring net income for second quarter
of 2000 of $90.6 million compared to $28 million for the same quarter last year - an increase
of 223%. (2705 MW, 1550 MW of which is co-owned with NRG)
· NRG Energy - Net income for quarter ending June 2000
increased to $43.6 million from $2.3 million for the same period last year, an 18 fold
increase.
· PG&E National Energy Group - On July 20 the NEG
announced earnings from operations in the second quarter of $0.10 per share on a diluted
basis, or $37 million. This reflects a 233% increase over diluted earnings of $0.03
per share, or $10 million, from the same quarter last year.
· Reliant Energy (formerly Houston Industries) -On July 27
announced second quarter adjusted earnings per share increased 77% over the same
period last year. The company's earnings before an extraordinary gain for the second
quarter of 2000 were $216 million, or $.76 per share, compared to adjusted earnings of
$123 million, or $.43 per share, for the second quarter of 1999. (3531 MW)
· Sempra Energy - Based on increased profits at its energy
trading and international units, Sempra Energy reported on July 27 unaudited consolidated
net income of $110 million, or 55 cents per diluted share of common stock, for the second
quarter of 2000, up 34% over last year's second-quarter net income of $82 million,
or 35 cents per diluted share.
· Southern Company - reports earnings of $342 million
for the quarter ending June 2000 compared to $314 million for the same quarter in 1999, a 9%
increase. (3065 MW)
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