Michael Morris Utility Quotations

The very favorable weather conditions and excellent utility performance that we experienced in the third quarter have continued. Cold temperatures in December have translated into increased demand and strong sales to our utility customers.

Despite mild weather, our utility operations increased earnings in the quarter thanks to growth in both the number of retail customers and the electricity usage by those customers. These are indicators of a continued steady economy in areas we serve.

This transaction is significant because it completes the divestiture of assets ... that did not align with our strong domestic utility operations. The divestitures leave us with an improved balance sheet and a strategic focus on our core utility business.