CALGARY, March 12 /CNW/ - ENMAX Corporation today announced record
revenue of $2.1 billion, and net earnings of $141.8 million.
"This was another great year for ENMAX, our owners and our customers,"
said ENMAX President & CEO Gary Holden. "In our third straight year of growth
and while offering highly competitive electricity prices, we're continuing to
build value for our shareholder."
"This year promises to be equally exciting," continued Holden. "We have
received shareholder approval for our natural gas-fired 1,000 MW plant near
Calgary and submitted the regulatory applications for our 120 MW gas-fired
plant near Crossfield, both of which will increase the security of supply for
southern Alberta while reducing the environmental impact of the electricity we
Electricity sales in 2007 were 16,086 gigawatt hours (GWh), an increase
of 27 per cent over the 2006 amount of 12,652 GWh. Natural gas sales also rose
almost 50 % from 17,979 terajoules (TJ) in 2006 to 26,944 TJ in 2007.
During the year, ENMAX Power invested another $121.1 million to maintain
and expand its transmission and distribution networks to meet the needs of
Calgary's continued rapid growth. Throughout this period of heavy investment
and tight labour markets, ENMAX Power's operations continued to provide
top-class supply reliability.
The year was also notable for the successful completion of construction
of the Taber wind farm - Alberta's largest - which will provide a reliable
earnings stream for ENMAX Energy and renewable energy for the City of Calgary
for the next 20 years.
ENMAX paid $12.5 million in the fourth quarter of 2007 to complete the
$50 million total dividend the Company declared to its shareholder for the
ENMAX Corporation and its predecessors have provided Albertans with safe,
reliable electricity for more than 100 years. Through its subsidiaries, ENMAX
provides electricity, natural gas, renewable energy and value-added services
to more than 500,000 residential, commercial and institutional customers in
Alberta. ENMAX Energy Corporation contracts low-cost reliable electricity from
the Keephills and Battle River facilities and meets peak demand through a long
term agreement for the Calgary Energy Centre. ENMAX, through a subsidiary, is
one of Alberta's largest investors in renewable energy with 100 per cent
ownership of the Taber Wind Farm and 50 per cent ownership of the McBride Lake
Wind Farm. ENMAX Energy has the largest green power marketing program of its
kind in Canada. For more information, visit our website at enmax.com.
You can choose any retailer listed at www.ucahelps.gov.ab.ca or at
310-4822. Electricity delivery to your home or business isn't affected by your
choice of retailer.
For further information:
For further information: Peter Hunt, VP, Public Affairs, ENMAX
Corporation, (403) 689-6150