Gas segment gross margin (gas revenues less cost of gas sold and transported) decreased in 2012 by approximately $2.4 million compared to 2011. Revenues declined approximately $6.6 million in the 2012 period due primarily to the effect on sales of milder weather when compared to 2011.Electric operating expense increased approximately $8.8 million in 2012 compared to 2011. Pension and healthcare costs were approximately $3.8 million higher in 2012. Power operating expense increased $2.0 million in 2012, driven by a full year’s recognition of expense at our Iatan 2 and Plum Point generating stations. Electric transmission and distribution system operating expenses increased approximately $1.7 million, due primarily to increased transmission expense incurred to deliver power to our system. An increase in professional service expenses totaling approximately $2.1 million was offset by decreases in customer account expenses, injuries and damages reserve, and line of credit fees. Overall maintenance expenses related to our generating fleet and transmission and distribution system decreased slightly during the 2012 period. Gas segment operating expense increased slightly year over year.
The Empire District Electric Company 2012 Earnings Report And 2013 Earnings Guidance
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