Warmer winter cools profit for utility Laclede Group
MISSOURI - Laclede Group Inc., owner of Missouri's largest natural gas utility, said fiscal second-quarter profit fell because the warm winter reduced gas consumption.
The average temperature from January through March was 9 percent warmer than the previous year. This more than offset the effect of a rate increase approved last year by the Missouri Public Service Commission, St. Louis-based Laclede said in a recent statement.
Higher operating expenses and a $1.5 million charge to settle a lawsuit contributed to the decline in earnings, the company said. Laclede sells natural gas to about 630,000 customers in the city of St. Louis and surrounding counties.
Related News
Enel kicks off 90MW Spanish wind build
MADRID - Enel Green Power Espana has started constructing three wind farms in Aragon, north-east Spain, which are due online by the end of the year.
The projects, all situated in the Teruel province, are worth a total investment of €88 million.
The biggest of the facilities, Sierra Costera I, will have a 50MW and will feature 14 turbines.
The wind farm is spread across the municipalities of Mezquita de Jarque, Fuentes Calientes, Canada Vellida and Rillo.
The Allueva wind facility will feature seven turbines and will exceed 25MW.
Sierra Pelarda, in Fonfria, will have four turbines and a capacity of 15MW.
The projects bring the…
