•  
Siemens: RuggedCom RSG2488 New Timing CapabilitiesAdvertisement
BACK SEND PRINT

ENMAX reports financial results for 2013



March 14, 2014

ENMAX Corporation (ENMAX) announced its financial results for the year ended December 31, 2013. Earnings for the year were $352.5 million, compared to earnings of $225.0 million in 2012. The increase is a result of the $175.9 million gain from the sale of ENMAX Envision Inc. in Q2, 2013. In 2013, earnings from continuing operations were $172.3 million compared to $215.6 million in 2012. This decrease reflects the negative impact of the extended outage at Keephills Unit 1 coal plant (that, when operating, provides power to ENMAX under a power purchase arrangement) offset by improved margins in other parts of the business.

Fourth quarter earnings in 2013 were $88.3 million compared to $63.9 million in the fourth quarter of 2012, reflecting higher operating margins in the regulated business. As part of the year-end process, ENMAX declared a dividend of $60 million to be paid to The City of Calgary in 2014. "ENMAX faced both unique opportunities and extreme challenges in 2013, including an unprecedented flood that affected our Calgary system and a significant loss of supply due to the Keephills outage," said Gianna Manes, President and CEO, ENMAX. "With planning, strong execution and tireless dedication by our ENMAX team, we overcame these challenges, seized opportunities and successfully closed the year with a strong fourth quarter and solid overall safety, operational and financial performance for 2013 providing for a substantial dividend to our Shareholder, The City of Calgary." 

Click here to read the full press release.

For more information :

Organization:
Enmax Corporation
www.enmax.com/Corporation


Link http://www.electricenergyonline.com/detail_news.php?ID=474245
BACK SEND PRINT
Most consulted news

Contact us

Jaguar Expo Inc
1160 rue Levis, Suite 100
Terrebonne (Quebec) J6W 5S6

Tel.: 450-471-0796
Toll free: 888-332-3749
Fax: 450-471-5443 . 888-243-4562

info@electricenergyonline.com
www.electricenergyonline.com

  Press

  Jobs

  Events

  Subscription

  News

  Magazine

  News on your smartphone

© 2014, Jaguar Media inc. All rights reserved. 1996-2014