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August 28, 2015 11:36 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 offers water and wastewater plant financing and construction services. This segment owns approximately 8 and operates 19 other water treatment and distribution facilities; owns 5 and operates 23 other wastewater treatment and collection facilities; 2 water treatment plants; a wastewater treatment plant; a distribution network with 3,900 kilometers of distribution and transmission mains; 19,400 h...

2000, 10423 – 101 Street NW

Edmonton, AB T5H 0E8

Canada

Founded in 1891

2,710 Employees

Key Executives for EPCOR Utilities, Inc.

Chief Executive Officer and President
Age: 55
Chief Financial Officer and Senior Vice President
President of EPCOR Water (USA)
Senior Vice President of Commercial Services
Compensation as of Fiscal Year 2015.

EPCOR Utilities, Inc. Key Developments

EPCOR Utilities, Inc. Appoints Stuart Lee as New President and CEO, Effective from September 1, 2015

Stuart Lee has been appointed the new president and CEO of Epcor Utilities Inc. Lee has nearly three decades of experience as a senior executive, manager and accountant. He joined Epcor in 2003 as a vicepresident and corporate controller and stayed with the company for six years. He has also worked for Capital Power Corp. Lee spent six years with Capital Power, most recently as senior vicepresident of corporate development. He also served as the company's senior vice-president of finance and CFO. He will assume his duties as CEO on Sept. 1, 2015.

EPCOR Utilities, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

EPCOR Utilities, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2015. Net income was $139 million compared with $55 million for the corresponding period in the previous year. Income from core operations was $87 million compared with $53 million for the corresponding period in the previous year. Revenues were was $489 million compared with $435 million for the corresponding period in the previous year. Net income was $208 million compared with $93 million for the corresponding period in the previous year. Income from core operations was $142 million compared with $82 million for the corresponding period in the previous year. Net income was higher in part due to gains associated with the partial sell-down and reclassification of the Company's investment in Capital Power. Also, the increase in net income was due to higher favorable fair value adjustments related to financial electricity purchase contracts and higher approved customer rates. Net cash flows from operating activities was $283 million for the six months ended June 30, 2015, compared with $182 million for the corresponding period in the previous year. The increase was due to higher funds from operations and higher non-cash operating working capital. Revenues were was $962 million compared with $899 million for the corresponding period in the previous year.

EPCOR Utilities, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

EPCOR Utilities, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company’s Net income was $69 million on revenues of $473 million for the three months ended March 31, 2015 compared with $38 million on revenues of $464 million for the corresponding period in the previous year. Net income in the first quarter of 2015 was higher primarily due to higher approved customer rates and higher favorable fair value adjustments related to financial electricity purchase contracts. Net cash flows from operating activities were $113 million compared with $100 million for the corresponding period in the previous year. Investment in capital projects was $70 million compared with $63 million for the corresponding period in the previous year.

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