Hot summer sends Duke profits soaring
- Power company Duke Energy Corp. said that its third-quarter profit surged on a revenue boost because of unusually warm weather and higher prices, the company said.
The company earned $670 million, or 51 cents per share, up from $109 million, or 8 cents per share, during the same period a year prior. Revenue rose to $3.95 billion from $3.4 billion.
Analysts polled by Thomson Reuters expected 42 cents per share on $3.74 billion in revenue.
Looking ahead, the company boosted its full-year profit outlook to between $1.40 and $1.45 per share, from $1.30 to $1.35 per share. Analysts expect $1.34 per share.
"The key to Duke Energy's outstanding third quarter was the ability of our employees and our fleet to meet customers' energy demands during the summer's unrelenting heat," said James E. Rogers, chairman, president and CEO, in a statement.
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National Energy Board hears oral traditional evidence over Manitoba-Minnesota transmission line
WINNIPEG - Concerned Indigenous groups asked the National Energy Board this week to take into consideration existing and future impacts and treaty rights when considering whether to OK a new hydro transmission line between Manitoba and Minnesota.
Friday was the last day of the oral traditional evidence hearings in Winnipeg on Manitoba Hydro's Manitoba-Minnesota Transmission project.
The international project will connect Manitoba Hydro's Bipole III transmission line to Minnesota and increase the province's electricity export capacity to 3185 MW from 2300 MW.
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During the hearings Indigenous groups brought forward concerns and evidence of environmental degradation and restricted access to traditional lands.
Ramona Neckoway, a…
