CPS Energy could lose $100M due to Covid-19

Initial projections from CPS Energy show losses of $65 million to $100 million this year as shelter-in-place orders to slow Covid-19 hurt electricity sales, the utility’s board heard Monday.

As customers under economic duress are unable to pay bills and shuttered businesses are using less gas and electricity, initial projections by CPS Energy show massive losses for this fiscal year, which ends in January 2021. Gary Gold, CPS’ vice president overseeing financial reporting, told the board during…


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