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Msg  274 of 287  at  9/6/2022 5:30:31 PM  by

jerrykrause


National Fuel continues to top profitability rankings by recurring EBITDA margin

from SNL Daily Gas Report
 
 

National Fuel continues to top profitability rankings by recurring EBITDA margin

 
Byline: Anna Duquiatan, Nephele Kirong
 
 

National Fuel Gas Co. captured more than half of its recurring revenues as recurring EBITDA for the 12-month period ended June 30, retaining its top position on the S&P Global Market Intelligence-analyzed list of most profitable investor-owned utilities in the U.S. and Canada by recurring EBITDA margin.

Despite the top ranking, the Williamsville, N.Y.-headquartered natural gas utility logged a year-over-year decrease in EBITDA margin of 3 percentage points, to 53% as of the end of the second quarter. The median recurring EBITDA margin for the top 25 utilities was 38% for the last 12 months, according to Market Intelligence data.

National Fuel joined 23 other utilities on the list in recording decreases in EBITDA margin for the period. PPL Corp. registered the largest decline, at 9.9 percentage points, ending the quarter with a recurring EBITDA margin of 39.5% of recurring revenues.

In the second quarter, PPL closed its acquisition of Rhode Island electric and gas utility Narragansett Electric Co., which now does business as Rhode Island Energy, from National Grid PLC. Allentown, Pa.-headquartered PPL now has a $23.7 billion rate base solely in the U.S. with the addition of the Rhode Island utility and the related sale of its U.K. business operations.

OGE Energy Corp. was alone in logging a year-over-year positive change in recurring EBITDA. The Oklahoma City-headquartered utility had a recurring EBITDA margin of 38% of recurring revenues for the second quarter.

 


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