Coronavirus company news summary – Ausgrid to cut 230 jobs – Aiko Solar reports record revenue growth in third quarter

20 October 2020 (Last Updated October 20th, 2020 09:37)

20 October

Australian electricity distribution company Ausgrid has announced plans to cut 230 back-office and managerial jobs due to the tough market conditions arising out of the pandemic. The job cuts will be implemented from January 2021 and are part of an organisational restructure originally announced in 2019.

Evergy, an electricity provider in the US, is seeking permission from Kansas Corporation Commission and the Missouri Public Service Commission to track the costs incurred and the losses made due to the pandemic. These costs may eventually be incorporated into the electricity rates charged by Evergy, if the regulators approve.

Aiko Solar, a solar cell manufacturer, announced a 49.45% year-on-year increase in revenue in the first nine months of 2020. The company’s profits declined by 68% year-on-year in the first half of 2020 due to the pandemic but record revenues of $382.9m in the third quarter helped the company exceed its previous year revenues.