Latest news with #powerproducer
Bloomberg
3 days ago
- Business
- Bloomberg
Japan's Top LNG Buyer Inks Preliminary Pact With Alaska Project
Japan's largest liquefied natural gas importer, JERA Co., signed an expression of interest to explore buying the fuel from a long-delayed export project in Alaska, according to people with knowledge of the matter. JERA, which is also the nation's largest power producer, inked the non-binding pact ahead of a summit in the US state next week, said the people, who asked not to be identified because the talks are private. JERA did not specify in the expression of interest how much LNG the company would potentially buy, the people said.
Bloomberg
24-05-2025
- Business
- Bloomberg
India's NTPC Reports Profit Growth on Boost in Power Generation
NTPC Ltd. reported quarterly profit slightly ahead of expectations, as a recent capacity addition helped India's biggest power producer to ramp up electricity generation. Net income in the three months through March 31 rose 4% to 57.8 billion rupees ($678 million), according to a stock exchange filing Saturday, beating the average analyst estimate of 56.9 billion rupees.
Reuters
07-05-2025
- Business
- Reuters
Utility Vistra posts quarterly loss on derivative challenges, higher costs
May 7 (Reuters) - Vistra Corp (VST.N), opens new tab swung to a loss in the first quarter on Wednesday, as the independent power producer was hurt by setbacks in its hedging activities and higher costs, sending its shares down nearly 6% in early trading. The company said the quarterly deficit was driven primarily by unrealized mark-to-market losses on derivative positions as energy prices increased in the forward periods. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. Continued higher-for-longer interest rates weighed on the utility as it made investing in the construction and maintenance of critical infrastructure such as electrical grids more expensive. Vistra's interest costs rose nearly 88% to $319 million in the quarter, while total operating expenses increased about 39% to $693 million. However, the company said the performance was boosted by "two additional months" of results from the newly acquired nuclear utility Energy Harbor. Its adjusted core profit from ongoing operations rose to $1.24 billion compared to $810 million a year earlier, helped by higher prices and strong retail performance. Adjusted core profit in the retail segment stood at $184 million compared with a loss of $28 million a year earlier. The utility expects load growth to increase at an annual rate of nearly 4% through 2030 with data centers accounting for about 40% of new demand. Vistra reaffirmed current-year adjusted core profit from continuing operations of $5.5 billion to $6.1 billion, compared with the analysts' estimate of $5.9 billion. The Irving, Texas-based company posted a net loss of $268 million for the three months ended March 31, compared with a net income of $18 million a year ago.
