Hot summer sends Duke profits soaring
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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SAINT JOHN - NB Power customers who do not want a smart meter installed on their home could be facing a stiff fee for that decision, but so far the utility is not saying how much it might be.
"It will be based on the principles of cost causation, but we have not gotten into the detail of what that fee would be at this point," said NB Power Senior Vice President of Operations Lori Clark at Energy and Utilities Board hearings on Friday.
In other jurisdictions that have already adopted smart meters, customers not wanting to participate have faced hundreds…
