Rare U.S. Power Sales Gain Reveals Bright Spots in Oil's Bust
- Pipeline operators and refiners still boosting power demand
- AEP and FirstEnergy saw increased sales in shale regions
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Utility earnings are belying the slowdown in the U.S. oil patch.
Power suppliers are reporting increasing sales to oil and natural gas companies, even in the midst of an unprecedented drop in exploration. FirstEnergy Corp., Entergy Corp. and American Electric Power Co. Inc. have all said their revenue from energy customers such as pipeline operators and fuel manufacturers rose in the fourth-quarter.