CALGARY, Aug. 12 /CNW/ - ENMAX Corporation (ENMAX) today announced
adjusted net earnings from operations for the three and six months ended June
30, 2009 of $47 million and $88 million respectively. These earnings levels
are consistent with net earnings for the same periods last year.
"The stability in our adjusted year over year earnings even in a
difficult market demonstrates the results of our continued focus on the
customer," said Gary Holden, President & CEO of ENMAX Corporation. "ENMAX
continues to execute on its strategy and has delivered consistent returns to
After giving effect to a regulatory decision, the acquisitions of Kettles
Hill Wind Farm and the Calgary Energy Centre, foreign exchange exposures
relating to the purchase of certain generating facilities and adjustments to
previous income tax estimates, net earnings for the three and six months ended
June 30, 2009, were up 4% and 27% to $51 million and $111 million
ENMAX Energy's electricity customers purchased 3,916 gigawatt hours (GWh)
and 8,039 GWh in the three and six months ended June 30, 2009 compared to
3,635 GWh and 7,473 GWh for the same periods in 2008. Sales volumes of natural
gas totaled 6,531 terajoules (TJs) and 20,617 TJs compared to 5,418 TJs and
18,015 TJs in the same periods of 2008, respectively.
Electricity customers on the regulated rate option (RRO) provided by
ENMAX Power purchased 538 GWh in the second three months of 2009 compared to
570 GWh over the same period last year, a decrease of 5.9% per cent. Sales to
the same RRO customers totaled 1,109 GWh for the first six months of 2009
compared with 1,214 GWh for the same six months in 2008 - a decline of 8.6%.
The decreased sales volumes are due in part to customers choosing competitive
ENMAX Corporation paid its second quarterly installment toward the 2009
dividend of $55 million to its shareholder, The City of Calgary.
ENMAX Corporation, through subsidiaries and predecessors, has provided
Albertans with safe and reliable electricity for more than 100 years. ENMAX
Corporation provides electricity, natural gas and value-added services to more
than 600,000 residential, commercial and industrial metered customer locations
in Alberta. ENMAX Energy Corporation, a subsidiary of ENMAX Corporation, is
Alberta's leading competitive electricity retailer. Through subsidiaries,
ENMAX Energy is one of Alberta's largest investors in renewable energy and was
the first Canadian electricity retailer to offer customers the option to
support wind generated energy. As well, ENMAX Corporation, through its
subsidiary ENMAX Envision, provides fibre optic networks for high speed data
and internet communications. Visit our website at enmax.com.
For further information:
For further information: Media only contact: Natika Sunstrum, Manager,
Corporate Communications, ENMAX Corporation, C. (403) 689-6150 (media line),