Financial review: third quarter earnings down

Article Abstract:

The investor-owned electric utility industry reports earnings per share before extraordinary items amounted to $0.76 for the 3rd quarter of 1996, a 10.6% decrease from $0.85 earnings per share in 3rd qtr. 1995. The decrease was attributed to the $332.9 million in net write-offs, which includes the $149 million write-off for discontinued steam operations and the $31.5 million in merger-related expenses. Electric operating revenue increased by only 0.7% from $53 billion in 3rd qtr. 1995 to $53.4 billion for 3rd qtr. 1996.

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Financial review

Article Abstract:

Investor-owned electric utility earnings per share increased from $0.75 for the 3rd qtr. of 1994 to $0.85 for the 3rd qtr. of 1995. Total electric operating revenues increased 6.3% from $48.5 billion to $51.5 billion while total electric operating expenses rose 5%. The industry's total assets increased $6.8 billion from Sep. 30, 1994, to Sep. 30, 1995. Equity capitalization for the quarter grew as a share of total capitalization to 45.8% from 44.7% the year before.

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Your membership dollars at work

Article Abstract:

Results of a cost study made by Edison Electric Institute on investor-owned electric utilities are presented. Among the important attainments are: costs savings of $24 billion annually arising from implementation of voluntary carbon dioxide instead of obligatory program, federal tax break for dangerous waste cleanup, convincing EPA to relax enforcement of dangerous waste storage regulations and convincing the court to permit the burning of used oil.

Reports, Edison Electric Institute

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• Abstracts: Statistical review. Second quarter sales up. Nugs: slowed capacity, increased generation

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