OGE expects less earnings
Tuesday, October 26th 2004, 2:18 pm
By: News On 6
UNDATED (AP) _ OGE Energy Corporation says it expects its 2004 earnings to be at the low end of projections largely because of mild summer weather.
The parent company of Oklahoma Gas and Electric says it expects 2004 profits to be near one dollar, 60 cents a share. Previous estimates ranged from one dollar, 60 cents to one dollar, 70 cents a share.
The company says mild weather lowered OGE's third quarter revenues by about $20-million, or 14 cents a share.
The company also says OGE is expected to file a rate case with the Oklahoma Corporation Commission in mid-2005 to cover expenses at the McClain Plant. The company says the new rates are expected to be in place by the first quarter of 2006.