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Utilities Up As Treasury Yield Worries Subside -- Utilities Roundup

03/05/2021 | 05:43pm EDT

Shares of power producers rallied, recouping losses on the week as concerns about a surge in Treasury yields subsided.

The utility sector often sells off when Treasury yields rise as investors toggle between bonds and utility stocks.

An independent market monitor said the Texas power-grid operator made a critical mistake that resulted in $16 billion in electricity overcharges last month, but the Public Utility Commission of Texas on Friday signaled it didn't intend to reverse the overcharge.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

03-05-21 1742ET

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