The fourth quarter of 2007, compared to 2006, has seen growth in the AltaGas Utilities (AUI) and Heritage Gas franchise areas and income from the acquisition of Ikhil, offset by slightly warmer weather, higher interest expense and the effects of the regulatory decision for AUI’s 2007 applied-for tariff.
Net income was positively impacted from rate base growth by C$0.6 million. Heritage Gas continued to grow in both the Halifax regional municipality and Amherst franchise areas and in 2007 completed the Halifax Harbour crossing.
For AUI, colder weather in Alberta in 2007 than 2006 increased net income by C$0.5 million, offset by the reduced regulated return on equity of C$0.2 million to net income. Inuvik Gas’s business growth and Ikhil’s five months of operations combined to contribute C$0.4 million to net income, the company said.
