Heading into Q1 earnings reporting season, the big question for electric utilities was how big a hit COVID-19 fallout would deliver to demand for power. Now we have answers from first reporter NextEra Energy (NYSE: NEE).
It’s still early days for US COVID-19 fallout. And most electric companies have yet to issue guidance. But so far, the US power industry is showing typical resilience in tough times.
That means future selloffs in the ongoing bear market are buying opportunities for best in class electric utilities, not a reason to sell.
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