RE:RE:Utility ebitda 4th Qtr 2020 vs 2019Thanks Capharnaum : You are correct.
1)2019 : I used the Utility ebitda from the 2019 annual financial news release of
Feb/20. It stated 244M in that release. There must have been an upward revision on this number to 260M over the course of 1 year.
2)I stated 2020 utility ebitda of 244M and 2019 utility ebitda of 259M. This was an error. I had reversed the nunbers by accident.
All other numbers are correct. The subscriber growth and heat days for Washington area are correct. The intent was to show the importance of the weather over the 4
th qtr 2020. What may be more important in the 1
st qtr 2021 was the polar vortex. Current numbers are showing a shape increase in heating days which should result in a much stronger 1st qtr Utility ebitda.
GLTA
RFguy
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Capharnaum - (3/1/2021 11:53:13 PM) RE:Utility ebitda 4th Qtr 2020 vs 2019 On page 33, normalized EBITDA for utilities was $259M in 2020 compared to $260M in 2019.
Here's the explanation for the variation:
The Utilities segment reported normalized EBITDA of $259 million in the fourth quarter of 2020, compared to $260 million in the same quarter in 2019. Factors positively impacting normalized EBITDA included higher rates and gas margins at SEMCO, higher revenue from accelerated pipe replacement program spend, higher gas margins from WGL's Retail Energy Marketing business due to favorable pricing which was partially offset by COVID-19 impacts, and colder weather in Alaska. These were partially offset by the cancellation of late fees and related charges by the utilities due to COVID-19, the impact of the sale of ACI, and lower power margins from WGL's Retail Energy Marketing business as a result of COVID-19 impacts which were partially offset by lower capacity charges in 2020, higher expenses related to employee benefits and incentive plans, a residential energy credit adjustment received in 2019, final Virginia rate case adjustments in 2019, and warmer weather in Michigan.