Falling gas prices deflate Montauk Energy profits
Expenses for the company’s renewable gas facilities also rose, primarily due to two new facilities beginning operations
04 November 2019 - 08:11
Montauk Energy, which collects gas and produces electricity at US landfill sites, said on Friday a collapse in the price of the organic gases it produces resulted in an 88.6% fall in interim headline earnings to end-September.
Rising gas production due to optimisation at two of its plants was offset by a 14.6% fall in the average prices of the commodities it produces. Profit for the period fell 88.5% to $1.27m...
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