August 20, 2014 5:02 PM ET

Electric Utilities

Company Overview of EPCOR Utilities, Inc.

Company Overview

EPCOR Utilities Inc. builds, owns, and operates electrical transmission and distribution networks, and water and wastewater treatment facilities and infrastructure in Canada and the United States. The company’s Water Services segment treats, tests, distributes, and sells water; treats wastewater; and provides water and wastewater plant financing and constructing services. This segment owns approximately 8 and operates 21 other water treatment and/or distribution facilities; owns 5 and operates 23 other wastewater treatment and/or collection facilities; 2 water treatment plants; a wastewater treatment plant; a distribution network with 3,900 kilometers of distribution and transmission mains; ...

2000 – 10423 101 Street NW

Edmonton, AB T5H 0E8

Canada

Founded in 1891

2,675 Employees

Phone:

780-412-3414

Key Executives for EPCOR Utilities, Inc.

Chief Executive Officer and President
Age: 54
Chief Financial Officer and Senior Vice President
President of EPCOR Water (USA)
Senior Vice President
Senior Vice President
Age: 64
Compensation as of Fiscal Year 2014.

EPCOR Utilities, Inc. Key Developments

EPCOR Utilities, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

EPCOR Utilities, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. The company reported net income was CAD 55 million on revenues of CAD 435 million for the three months ended June 30, 2014 compared with CAD 45 million on revenues of CAD 469 million for the corresponding period in the previous year. Investment in capital projects was CAD 91 million for the three months ended June 30, 2014 compared with CAD 86 million for the corresponding period in the previous year. Net income was CAD 93 million on revenues of CAD 899 million for the six months ended June 30, 2014 compared with CAD 102 million on revenues of CAD 922 million for the corresponding period in the previous year. Net cash flows from operating activities were CAD 188 million for the six months ended June 30, 2014 compared with CAD 105 million for the corresponding period in the previous year. Investment in capital projects was CAD 154 million for the six months ended June 30, 2014 compared with CAD 179 million for the corresponding period in the previous year. The decrease of CAD 25 million was primarily due to lower expenditure on the Heartland electricity transmission line which was completed in December 2013. Consolidated revenues were lower by CAD 34 million and CAD 23 million for the three and six months ended June 30, 2014, respectively, compared with the corresponding periods in 2013 primarily due to the net impact of Water Services segment revenues were higher for the three and six months ended June 30, 2014 compared with the corresponding periods in 2013 primarily due to higher approved customer rates and increased volumes partially offset by lower commercial services activity. Electricity distribution and transmission revenues were lower for the three and six months ended June 30, 2014, compared with the corresponding period in 2013 primarily due to refunds to customers. The refunds in 2014 relate to the 2012 and first quarter of 2013 interim to final true-ups of system access rates. This was partially offset by higher approved electricity rates. Energy Services segment revenues were lower for the three and six months ended June 30, 2014 compared with the corresponding periods in 2013 primarily due to lower electricity prices and volumes.

EPCOR Utilities, Inc. Appoints Robert G. Foster to its Board of Directors

EPCOR Utilities Inc. announced that Robert G. Foster has been appointed to its Board of Directors effective May 8, 2014. Mr. Foster is the retiring Mayor of Long Beach, California, an office he has held since 2006. He has an extensive background as an executive in the utility sector and is the current Chair of the California Independent System Operator.

EPCOR Utilities, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

EPCOR Utilities, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the period, the company’s net income was CAD 38 million on revenues of CAD 464 million compared with CAD 57 million on revenues of CAD 453 million for the corresponding period in the previous year. Net income in the first quarter of 2013 was unusually high due to the timing of rate adjustments. Net cash flows from operating activities were CAD 101 million compared with CAD 75 million for the corresponding period in the previous year. Investment in capital projects were CAD 63 million compared with CAD 93 million for the corresponding period in the previous year. The decrease of CAD 30 million is primarily due to lower expenditure on the Heartland electricity transmission line which was completed in December 2013. Net income from core operations was CAD 29 million for the three months ended March 31, 2014, compared with CAD 40 million for the comparative period in 2013.

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