Canadian power utility Emera has reported consolidated net earnings of C$25.3 million for the fourth quarter ended December 31, 2008, compared to C$36.6 million for the same period of 2007.
The company has reported consolidated net earnings of C$144.1 million in 2008, compared to C$151.3 million in 2007. Emera has reported revenues of C$1.33 billion in 2008, compared to C$1.34 billion in 2007.
According to Emera, it has reported revenues of C$337.3 million for the fourth quarter ended December 31, 2008, compared to C$343.9 million for the same period of 2007.
Nova Scotia Power (NSPI), Emera’s subsidiary, has contributed C$105.6 million to 2008 consolidated net earnings, compared to C$100.2 million in 2007, said Emara. NSPI contributed $14.4 million to consolidated net earnings in Q4 2008, compared to $25.2 million in Q4 2007. Earnings were lower quarter-over-quarter largely due to higher fuel costs.
The Bangor Hydro Electric Company (BHE), Emera’s electricity transmission and distribution utility subsidiary in Maine, contributed C$23.1 million for the year ended December 31, 2008 compared to C$27.5 million in 2007. BHE contributed $6.6 million to consolidated net earnings in Q4 2008, compared to $6.7 million in Q4 2007, said Emara.
