Warmer winter cools profit for utility Laclede Group

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.