Superior Plus Reports Lower Gross Profit

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November 4, 2010

Superior Plus reported lower gross profit from its fixed-price energy services segment of $6.9 million, versus $7.9 million a year ago (all figures Canadian), on lower gas volumes and unit margins, partially offset by higher electric volumes from increased commercial sales.  

Gross profit from natural gas for the quarter was $5.89 million, versus $7.27 million a year ago, on lower volumes as well as higher balancing charges stemming from higher than normal temperatures.

Electricity gross profit increased to $960,000 from $630,000 a year ago on commercial customer growth.

Per unit margins and volumes are provided below

In its outlook, Superior Plus affirmed that it expects gross profit to modestly decrease in 2010 and increase in 2011 due to, as previously reported, entering the retail electricity and natural gas markets in the northeastern U.S., offset in part by reduced customer aggregation estimates due to the exit from the British Columbia residential natural gas market in 2010.  The commercial electricity market in Ontario is also expected to provide growth opportunities for the remainder of 2010 and into 2011.

Fixed-Price Energy Services


Fixed-Price Energy Services Gross Profit
----------------------------------------------------------------------------


(millions     
 of dollars
 except                 Three months ended               Three months ended
 volume and             September 30, 2010               September 30, 2009
 per unit   Gross                            Gross
 amounts)  Profit    Volume       Per Unit  Profit    Volume        Per Unit
----------------------------------------------------------------------------
Natural Gas                                                  
 (1)         5.89    6.9 GJ  85.0 cents/GJ    7.27    8.4 GJ   86.5 cents/GJ
Electricity
 (2)         0.96  86.2 KWh 1.11 cents/KWh    0.63  56.1 KWh  1.12 cents/KWh
----------------------------------------------------------------------------
Total        6.85                             7.90
----------------------------------------------------------------------------
(1) Natural gas volumes and per unit amounts are expressed in millions of
    gigajoules (GJ).
(2) Electricity volumes and per unit amounts are expressed in millions of
    kilowatt hours (KWh).

   
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