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NON-REGULATED - FORTIS GENERATION (1)
----------------------------------------------------------------------------Financial Highlights (Unaudited) Quarter Ended March 31 2013 2012 Variance--------------------------------------------------------------------------------------------------------------------------------------------------------Energy Sales (GWh) 55 88 (33)Revenue ($ millions) 5 9 (4)Earnings ($ millions) 24 5 19--------------------------------------------------------------------------------------------------------------------------------------------------------(1) Comprised of the financial results of non-regulated generation assets in Belize, Ontario, British Columbia and Upstate New York, with a combined generating capacity of 103 MW, mainly hydroelectric
Factor Contributing to Energy Sales and Revenue Variances
Unfavourable
-- Decreased production in Belize, due to lower rainfall
Factors Contributing Earnings Variance
Favourable
-- An approximate $22 million after-tax extraordinary gain on the settlement of expropriation matters associated with Exploits Partnership. For further information, refer to the "Significant Items" section of this MD&A.
Unfavourable
-- Decreased production in Belize
NON-REGULATED - FORTIS PROPERTIES (1)
----------------------------------------------------------------------------Financial Highlights (Unaudited) Quarter Ended March 31 2013 2012 Variance--------------------------------------------------------------------------------------------------------------------------------------------------------Hospitality - Revenue per Available Room ("RevPar") $ 66.04 $ 66.54 (0.8)%Real Estate - Occupancy Rate (as at) 91.2% 92.2% (1.1)%----------------------------------------------------------------------------Hospitality Revenue ($ millions) 36 35 1Real Estate Revenue ($ millions) 17 17 ----------------------------------------------------------------------------- Total Revenue ($ millions) 53 52 1----------------------------------------------------------------------------Earnings ($ millions) - 1 (1)--------------------------------------------------------------------------------------------------------------------------------------------------------(1) Fortis Properties owns and operates 23 hotels, comprised of more than 4,400 rooms, in eight Canadian provinces, and owns and operates approximately 2.7 million square feet of commercial office and retail space, primarily in Atlantic Canada.Factors Contributing to RevPar Variance
Unfavourable
-- A 2.6% decrease in occupancy in all regions, with the most significant decrease in central Canada
Favourable
-- A 1.8% increase in the average daily room rate, mainly in Atlantic Canada and western Canada
Factor Contributing to Revenue Variance
Favourable
-- Increased revenue at the Hospitality Division, mainly due to contribution from the StationPark All Suite Hotel, which was acquired in October 2012, partially offset by lower revenue from other hotel operations in central Canada
