Energy Transfer Reaps $2.4 Billion Windfall From Texas Freeze

Energy Transfer Reaps $2.4 Billion Windfall From Texas Freeze
·3 min read

(ET) LP emerged as one of the big winners of the Texas freeze, saying it expected an additional $2.4 billion in earnings this year stemming from the February storm. Energy Transfer benefited from surging natural gas prices during the freeze, as power plants and other customers ran low on supplies and millions of homes lost power due to extreme cold weather. The freeze and blackouts cut the state’s natural gas production by more than a third from normal levels during the weeklong storm event, according to Wood Mackenie.