Derivatives loss impacts on Reliant’s Q3 results
Reliant Energy has announced a third quarter net loss of $1.04bn, due to unrealised losses of $1.69bn on energy derivatives.
According to a statement from the company, this was due to a lower retail contribution margin due to Hurricane Ike, which resulted in lower sales volumes, the sale of excess supply at a loss and the cancellation of planned price increases.
The loss from continuing operations before income taxes for the period was $1.6m
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