CALGARY, May 13 /CNW/ - ENMAX Corporation (ENMAX) today announced net
earnings of approximately $48 million (excluding the estimated impact relating
to a regulatory decision that was retroactive to January 1, 2007) for the
first quarter of 2009. 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.
"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 CEO of ENMAX Corporation. "Our first quarter
results also demonstrate continued growth in our retail, wholesale and
ENMAX Energy's electricity customers purchased 4,123 gigawatt hours (GWh)
in the first three months of 2009 compared to 3,838 GWh over the same period
last year, an increase of 7.4 per cent. Sales volumes of natural gas in the
first quarter rose by 11.8 per cent to 14,086 terajoules (TJs), up from 12,597
TJs for the first quarter of 2008.
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 per cent due in part to
customers choosing competitive retail offerings.
ENMAX Corporation paid its first 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: Doris B. Kaufmann, Sr.
Media Relations Advisor, ENMAX Corporation, C. (403) 689-6150 (media line), E.