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PPL continues to be most profitable utility by recurring EBITDA margin in Q1

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PPL continues to be most profitable utility by recurring EBITDA margin in Q1

PPL Corp. remained the most profitable utility by recurring EBITDA margin at 54.29% of recurring revenues by the end of the first quarter of 2018. However, its recurring EBITDA margin dropped by 1.34 percentage points from 55.64% in the same period in 2017.

NextEra Energy Inc. moved up to second place with its recurring EBITDA margin increasing 2.90 percentage points to 52.61% of recurring revenues. The company's first-quarter operating revenues fell year over year to $3.86 billion from $3.97 billion.

Dominion Energy Inc. moved up to third place with a recurring EBITDA margin of 47.69% of recurring revenues. Dominion, which has offered to acquire SCANA Corp., reported higher operating revenue of $3.47 billion in the first quarter of 2018.

SCANA also made the list with a recurring EBITDA margin of 36.60% of recurring revenues.

TransCanada Corp., which ranked second in both the second and fourth quarter of 2017, dropped off from the list of most profitable Canadian and U.S. utilities by recurring EBITDA margin.

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National Fuel Gas Co., which ranked fourth, saw the largest drop of recurring EBITDA margin at 5.39 percentage points to 46.59% of recurring revenues. The gas utility's operating revenue came in at $540.9 million, compared to $522.1 million a year earlier.

Fortis Inc., which ranked fifth, recorded the largest increase of recurring EBITDA margin at 4.87 percentage points to 45.16% of recurring revenues.

Other companies that saw their recurring EBITDA margin decrease include Duke Energy Corp., Great Plains Energy Inc. and subsidiary Kansas City Power & Light Co., Sempra Energy subsidiary San Diego Gas & Electric Co., Cleco Corporate Holdings LLC, SCANA subsidiary Public Service Co. of North Carolina Inc., El Paso Electric Co., Exelon Corp. subsidiary Commonwealth Edison Co., and Entergy Corp.