These earnings represent a $10 million increase from the $38 million recorded in the same quarter last year. The regulatory decision reflects a revenue increase to retroactively recover costs incurred in 2007 and 2008 in the regulated transmission and distribution businesses, of an additional $12 million in net earnings, which were recorded in the first quarter of 2009.
ENMAX Energy’s electricity customers purchased 4,123 gigawatt hours (GWh) in the first quarter 2009, up 7.4%, compared to 3,838 GWh in the year-ago quarter.
Electricity customers on the regulated rate option provided by ENMAX Power purchased 571 GWh in the first three months of 2009 compared to 644 GWh over the same period last year, a decrease of 11.3% due in part to customers choosing competitive retail offerings.
ENMAX paid its first quarterly installment toward the 2009 dividend of $55 million to its shareholder, The City of Calgary.
“The acquisition of the Calgary Energy Centre and Kettles Hill Wind Farm completed last year contributed to our first quarter results as expected,” said Gary Holden, president and chief executive officer of ENMAX. “Our first quarter results also demonstrate continued growth in our retail, wholesale and generation businesses.”
