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U.S. Refined Fuels Distribution Sales Volumes
Volumes by End-Use Application(1) Volumes by Region (2)------------------------------------- ------------------------------------- Three months ended March 31, Three months ended March 31,(millions of litres) 2013 2012 (millions of litres) 2013 2012------------------------------------- -------------------------------------Residential 143 126 Northeast United States 512 473Commercial 226 216Automotive 143 131------------------------------------- ------------------------------------- 512 473 512 473------------------------------------- -------------------------------------------------------------------------- -------------------------------------(1) Volume: Volume of heating oil, propane, diesel and gasoline sold (millions of litres).(2) Regions: Northeast United States region consists of Pennsylvania, Connecticut, New York, and Rhode Island.
Other Services
Other services gross profit was $10.9 million in the first quarter, an increase of $0.4 million from the prior year quarter due to higher service calls and installation work.
Supply Portfolio Management
Supply portfolio management gross profits were $7.9 million in the first quarter, an increase of $1.7 million from the prior year quarter due to favourable market conditions, impact of colder weather and optimization of arbitrage opportunities through logistics management.
Fixed-Price Energy Services
Fixed-Price Energy Services Gross Profit
---------------------------------------------------------------------------- Three months ended March Three months ended March 31, 2013 31, 2012(millions of dollars Gross Gross except volume and per Profit Volume Per Unit Profit Volume Per Unit unit amounts)---------------------------------------------------------------------------- 66.7 110.4Natural gas (1) 3.0 4.5 GJ cents/GJ 5.3 4.8 GJ cents/GJ 0.83 1.19Electricity (2) 1.7 205.2 KWh cents/KWh 2.2 185.1 KWh cents/KWh----------------------------------------------------------------------------Total 4.7 7.5--------------------------------------------------------------------------------------------------------------------------------------------------------(1) Natural gas volumes are expressed in thousands of gigajoules (GJ).(2) Electricity volumes are expressed in thousands of kilowatt hours (KWh).
Fixed-price energy services gross profit was $4.7 million in the first quarter, a decrease of $2.8 million or 37% from $7.5 million in the prior year quarter. Natural gas gross profit was $3.0 million, a decrease of $2.3 million from the prior year quarter due to lower gross margins and sales volumes. Gross profit per unit was 66.7 cents per gigajoule (GJ), a decrease of 43.7 cents per GJ or 40% from the prior year quarter. The decrease in natural gas gross margin was due to sales mix as the existing customer base contains a lower proportion of higher margin residential customers and overall decline in the number of higher-margin residential customers. Sales volumes of natural gas were 4.5 million GJ, 0.3 million GJ or 6% lower than the prior year quarter due to a continued decline in residential volumes and lower customer aggregation as a result of continued historically low system prices for natural gas. Electricity gross profit in the first quarter of 2013 was $1.7 million, a decrease of $0.5 million or 23% from the prior year quarter due to an increase in the supply cost of electricity offset in part by higher customer demand.
