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CFO warns tariffs, supply disruptions could raise costs; lead-service funding briefly delayed then restored
Summary
Citizens Energy Group CFO Greg Jackson told the board Feb. 19 that the utility’s 2025 forecast is modestly stronger than budget but that potential federal tariffs and supply-chain pressure could raise equipment and material costs.
Greg Jackson, senior vice president and chief financial officer of Citizens Energy Group, told the board Feb. 19 that the company’s preliminary financial projection for 2025 is modestly ahead of budget but faces risks from possible new federal tariffs and supply-chain pressures.
Jackson said overall net income in the company’s projection was about $4.3 million higher than budget, and EBITDA was projected to be roughly $1.6 million above budget. He attributed parts of the favorable variance to colder weather raising gas margins and to an adjustment to the lead service line tracker that increased recoverable amounts. Offsetting items include lower residential and multifamily wastewater volumes and reduced interest income…
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