Power and natural gas utility CH Energy Group has reported a net income of $11.22 million for the fourth quarter of 2008, compared to $11.42 million for the same quarter of 2007.
The company has reported a net income of $35.08 million for the year 2008, compared to $42.64 million for the year 2007. The CH Energy Group has reported total operating revenues of $1.33 billion for the year 2008, compared to $1.19 billion for the year 2007.
According to the company, for the fourth quarter of 2008, it has reported total operating revenues of $308.62 million, compared to $322.28 million for the same quarter of 2007.
Holding company CH Energy Group and Central Hudson Enterprises Corporation (CHEC) partnerships and other investments contributed 29 cents toward corporate earnings in 2008, down 15 cents from 2007 results, said the company.
Steven Lant, chairman, president and CEO of the CH Energy Group, said: The year 2008 was the most difficult in many years for our company. But due to our good financial position and liquidity, we were able to handle the situation.
CH Energy Group is a family of companies capitalizing new opportunities in the energy marketplace through two primary subsidiaries: Central Hudson Gas & Electric Corporation is a regulated transmission and distribution utility serving approximately 300,000 electric and about 74,000 natural gas customers.
