AUSTIN, Texas — We’re starting to hear more from the energy companies regarding the February storms.
Valero and AEP announced earnings for the first quarter this year. Valero is an energy generator headquartered in San Antonio.
Company leaders said the storms cost the company millions.
“The operating loss for the first quarter of 2021 includes estimated excess energy costs of $525 million related to impacts from Winter Storm Uri,” Valero’s filings show.
Federal filings show American Electric Power (AEP) plans to add nearly 16,600 megawatts of new renewables by 2030.
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