Earnings from the gas utility increased $1.1 million or 16.5% compared to the first quarter of 2007. The increase is primarily driven by higher retail therm sales of 12.9% during the quarter as a result of colder weather.
During the three months ended March 31, 2008, electric retail kilowatt-hour sales increased 1.9% from those in the same period of 2007. The revenue generated from increased sales was offset by higher fuel and purchased power prices during the first quarter. Fuel and purchased power costs increased $2.6 million or 7.5% during the first quarter of 2008 compared to the same period of 2007.
