TECO Energy, Inc. (NYSE:TE) today reported second-quarter results from continuing operations. Due to recent developments in negotiations regarding the sale of TECO Coal the company is deferring reporting results from discontinued operations at this time, and expects to report complete second-quarter GAAP results, including unaudited financial statements on or before Aug. 7.

Second-quarter non-GAAP results from continuing operations, which exclude $0.4 million of costs associated with the integration of New Mexico Gas Co. (NMGC), were $61.9 million, or $0.26 on a per-share basis, compared with $60.3 million, or $0.28 on a per share basis in 2014. GAAP results from continuing operations were $61.5 million, or $0.26 per share, compared to $57.6 million, or $0.27 per share in 2014.

Year-to-date non-GAAP results from continuing operations, which exclude $1.0 million of costs associated with the integration of NMGC, were $126.3 million, or $0.54 on a per-share basis, compared with $110.8 million, or $0.51 on a per-share basis in 2014. Year-to-date GAAP results from continuing operations were $125.3 million, or $0.53 per share, compared to $106.0 million, $0.49 per share.

TECO Energy President and Chief Executive Officer John Ramil said, "Our Florida operations delivered strong financial performance this quarter and experienced customer growth of 1.8% and 2.2% at Tampa Electric and Peoples Gas, respectively - well above the national average. New Mexico Gas realized improving customer growth and the positive impact of synergies from the acquisition, and was able to deliver near break-even results in a quarter that typically has produced moderate seasonal losses. The strong performance this quarter, combined with our good first quarter results allowed us to deliver 6% year-over-year growth in earnings from continuing operations."

Non-GAAP Results

Non-GAAP results from continuing operations in the second quarter and year-to-date periods of 2015 and 2014 exclude costs associated with the integration and acquisition of NMGC. Non-GAAP results from continuing operations in the 12-months ended 2015 period exclude deferred tax balance adjustments.

The table below compares the TECO Energy net income from continuing operations with the non-GAAP measures used in this release. Non-GAAP results exclude charges and gains contained in the Results Reconciliation table later in this release. See the Non-GAAP Presentation section and Results Reconciliation table later in this release for reconciliation to results from continuing operations and a discussion regarding this presentation of non-GAAP results and management's use of this information.

All amounts included in the non-GAAP and operating company discussions below are after tax, unless otherwise noted.

  Results Comparisons
3 months

ended June 30
  6 months

ended June 30
  12 months

ended June 30

(millions)
  2015 2014   2015 2014   2015 2014
Net income from continuing operations 61.5 57.6 125.3 106.0 225.7 205.7
Exclude charges 0.4 2.7   1.0 4.8   19.5 9.2
Non-GAAP Results from continuing operations

$ 61.9

$ 60.3
 

$126.3

$110.8
 

$245.2

$214.9

Segment Reporting

The table below includes TECO Energy segment information on a GAAP basis, which includes all charges and gains for the periods shown.

Segment Information
  3 months

ended June 30
  6 months

ended June 30
  12 months

ended June. 30
(millions)    
Net Income from continuing operations 2015   2014   2015   2014   2015   2014
Tampa Electric $67.7   $62.2 $115.9   $107.4 $233.1   $215.9
Peoples Gas 7.6 7.5 22.2 22.1 35.8 35.1
NMGC (1) (0.1) -- 13.8 -- 24.3 --
Other - net (13.7)   (12.1)   (26.6)   (23.5)   (67.5)   (45.3)
Net income from continuing operations 61.5   57.6   125.3   106.0   225.7   205.7

(1) The 12-months ended 2015 period reflect results after the Sept. 2, 2014 closing of the acquisition.

Tampa Electric

Tampa Electric's net income for the second quarter of 2015 was $67.7 million, compared with $62.2 million for the same period in 2014. Results for the quarter reflected a 1.8% higher average number of customers and higher energy sales primarily due to hotter spring weather. Results reflected higher operations and maintenance and depreciation expenses. Second-quarter net income in 2015 included $3.6 million of Allowance for Funds Used During Construction (AFUDC) equity, which represents allowed equity cost capitalized to construction costs, compared with $2.1 million in the 2014 quarter.

Total degree days in Tampa Electric's service area in the second quarter of 2015 were 15% above normal, and 22% above the 2014 period, driven by very warm weather in April, which is traditionally a shoulder month for energy sales. Total net energy for load, which is a calendar measurement of retail energy sales rather than a billing-cycle measurement, increased 6.6% in the second quarter of 2015 compared with the same period in 2014. In the 2015 period, pretax base revenues were almost $17 million higher than in 2014, driven by weather, customer growth and almost $2 million of higher pretax base revenue from the $7.5 million of higher base rates effective Nov. 1, 2014 as a result of the 2013 rate case settlement. (The quarterly energy sales shown on the statistical summary that accompanies this earnings release reflect the energy sales based on the timing of billing cycles, which can vary period to period.) Sales to residential customers increased primarily from weather and customer growth. Sales to commercial and non-phosphate industrial customers increased due to hotter weather and the strength of the Tampa area economy. Sales to lower-margin industrial-phosphate customers decreased as self-generation by those customers increased.

Operations and maintenance expense, excluding all Florida Public Service Commission (FPSC)-approved cost-recovery clauses, was $5.0 million higher than in the 2014 quarter, reflecting $2.2 million of higher cost to operate and maintain the generating system and $1.6 million of higher employee-related costs, including short-term incentive accruals for all employees. Depreciation and amortization expense increased $1.4 million in 2015, as a result of normal additions to facilities to reliably serve customers.

Year-to-date net income was $115.9 million, compared with $107.4 million in the 2014 period, driven by 1.7% higher average number of customers, higher energy sales from customer growth, more favorable weather and a stronger economy, partially offset by higher operations and maintenance expenses and depreciation expense. Year-to-date net income in 2015 included $7.4 million of AFUDC equity, compared with $4.4 million in the 2014 period.

Year-to-date total degree days in Tampa Electric's service area were 12% above normal, and 18% above the prior year-to-date period. Pretax base revenue was almost $20 million higher than in 2014, including approximately $3 million of higher pretax base revenue as a result of the Nov. 1, 2014 base rate increase. In the 2015 year-to-date period, total net energy for load was 4.2% higher than the same period in 2014. Higher energy sales were driven by the same factors as the quarterly sales, and winter weather that was colder than in 2014.

Operations and maintenance expenses, excluding all FPSC-approved cost-recovery clauses, increased $4.9 million in the 2015 year-to-date period reflecting the same factors as in the second quarter. Compared to the 2014 year-to-date period, depreciation and amortization expense increased $1.9 million, reflecting additions to facilities to serve customers. Interest expense increased $1.1 million due to higher long-term debt balances.

Peoples Gas

Peoples Gas reported net income of $7.6 million for the second quarter, essentially unchanged from the 2014 quarter. Average customer growth was 2.2% in the quarter, and therm sales to residential customers decreased as a result of much warmer than normal spring weather. Second-quarter results in 2015 reflected slightly lower non-fuel operations and maintenance expense driven by the timing of certain activities, partially offset by higher employee-related costs including short-term incentive accruals for all employees. Depreciation and amortization increased slightly due to normal additions to facilities to serve customers. Sales to power-generation customers and off-system sales increased due to coal-to-gas switching by customers and new gas-fired generation in the state.

Peoples Gas reported net income of $22.2 million for the year-to-date period, essentially unchanged from the same period in 2014. Results reflect a 2.1% higher average number of customers, and lower therm sales to residential customers due to warmer than normal spring weather. Commercial therm sales increased due to strong Florida economic conditions. Sales to power generation customers and off-system sales increased due to the same reasons as in the second quarter. Non-fuel operations and maintenance expense increased $0.5 million compared to the 2014 period, when operations and maintenance expense reflected a first quarter recovery of $1.6 million of costs incurred in connection with a 2010 outage incident.

NMGC

NMGC reported a second quarter loss of $0.1 million, which was less than historical second quarter loss patterns, reflecting the benefit of 0.7% customer growth and lower operating and maintenance expenses from acquisition synergies.

NMGC reported year-to-date 2015 net income of $13.8 million. Results reflect customer growth of 0.6%, much milder than normal winter weather in the first quarter, and degree days 5.4% below normal and 0.8% below 2014. Results include $0.7 million of rate credits to customers under the acquisition approval agreement with the New Mexico Public Regulation Commission.

Other - net

The second quarter 2015 non-GAAP cost from continuing operations for Other - net of $13.3 million excluded $0.4 million of costs associated with the integration of NMGC, compared with the non-GAAP cost of $9.4 million in 2014, which excluded $2.7 million of NMGC acquisition-related costs. Results in 2015 reflect $1.1 million of interest expense at NMGI, and a $2.6 million tax expense related to long-term incentive compensation shares that vested below target levels. Results also reflect $1.0 million of interest expense previously allocated to TECO Coal, which was more than offset by lower interest expense as a result of refinancing debt maturities in May. The cost from continuing operations for Other - net in the second quarter of 2015 was $13.7 million, compared with a cost of $12.1 million in the same period in 2014.

The 2015 year-to-date non-GAAP cost from continuing operations for Other - net was $25.6 million, which excluded $1.0 million of NMGC integration-related costs, compared with $18.8 million in 2014, which excluded $4.7 million of NMGC acquisition-related costs. Cost drivers in the 2015 year-to-date period included $2.2 million of interest at NMGI, $1.0 million of interest previously allocated to TECO Coal that was not offset by lower interest expense, and the second quarter tax expense related to long-term incentive shares discussed above. The 2015 year-to-date Other - net cost from continuing operations was $26.6 million, compared with $23.5 million in the 2014 period.

Maintaining 2015 Guidance from Continuing Operations

TECO Energy expects to deliver consolidated earnings from continuing operations in a range between $1.08 and $1.11 in 2015, excluding any non-GAAP charges or gains. TECO Energy expects earnings in 2015 to be driven by the factors discussed in previous filings with the SEC.

Non-GAAP Presentation

Management believes it is helpful to present a non-GAAP measure of performance that reflects the ongoing operations of TECO Energy's businesses and that allows investors to better understand and evaluate the business as it is expected to operate in future periods.

Management and the board of directors use non-GAAP measures as a tool for measuring the company's performance, for making decisions that are dependent upon the profitability of the company's various operating units, and for determining levels of incentive compensation.

The non-GAAP measures of financial performance used by the company are not measures of performance under accounting principles generally accepted in the United States and should not be considered an alternative to GAAP measures as an indicator of the company's financial performance or liquidity. TECO Energy's non-GAAP presentation of results from continuing operations may not be comparable to similarly titled measures used by other companies.

The Results Reconciliation table below presents non-GAAP financial results after eliminating the effects of identified charges and gains. This provides investors additional information to assess the company's results and future earnings potential.

Results Reconciliation
  3 months ended   6 months ended   12 months ended
(millions) June 30   June 30   June 30
2015   2014   2015   2014   2015   2014
Net income from continuing operations

61.5
 

57.6
 

125.3
 

106.0
 

225.7
 

205.7
Add consolidated deferred tax balance adjustments (net)

--
 

--

--
 

--

6.7
 

--
Add costs associated with the acquisition and integration of NMGC

0.4
 

2.7
 

1.0
 

4.8
 

12.8
 

9.2
Non-GAAP results (1) $61.9   $60.3   $126.3   $110.8   $245.2   $214.9

(1) A non-GAAP financial measure is a numerical measure that includes or excludes amounts, or is subject to adjustments that have the effect of including or excluding amounts, from the most directly comparable GAAP measure.

Webcast

As previously announced, TECO Energy will host a webcast with the investment community to discuss its quarterly results and outlook for the remainder of 2015 at 9:00 a.m. Eastern time today. The webcast will be accessible through a link on TECO Energy's website: www.tecoenergy.com. The webcast and accompanying slides will be available for replay for 30 days through the website, beginning approximately two hours after the conclusion of the live event.

TECO Energy Inc. (NYSE: TE) is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico. Tampa Electric serves more than 700,000 customers in West Central Florida; Peoples Gas System serves more than 350,000 customers across Florida; and New Mexico Gas Co. serves more than 510,000 customers across New Mexico. Other TECO Energy subsidiaries include TECO Coal, which owns and operates coal-production facilities in Kentucky, Tennessee and Virginia.

Note: This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Actual results may differ materially from those forecasted. The forecasted results are based on the company's current expectations and assumptions, and the company does not undertake to update that information or any other information contained in this press release, except as may be required by law. Factors that could impact actual results include: regulatory actions by federal, state or local authorities; the ability to successfully implement the integration plans for NMGC and generate the financial results to make the acquisition accretive; unexpected capital needs or unanticipated reductions in cash flow that affect liquidity; the ability to access the capital and credit markets when required; general economic conditions affecting customer growth and energy sales at the utility companies; economic conditions affecting the Florida and New Mexico economies; weather variations and customer energy usage patterns affecting sales and operating costs at the utilities and the effect of weather conditions on energy consumption; the effect of extreme weather conditions or hurricanes; general operating conditions; input commodity prices affecting cost at all of the operating companies; natural gas demand at the utilities; and the ability of TECO Energy's subsidiaries to operate equipment without undue accidents, breakdowns or failures; and the ability of TECO Energy to successfully close the sale of TECO Coal on the anticipated terms, or otherwise exit the coal business. Additional information is contained under "Risk Factors" in TECO Energy, Inc.'s Annual Report on Form 10-K for the period ended Dec. 31, 2014.

-30-

TAMPA ELECTRIC COMPANY
ELECTRIC OPERATING STATISTICS (Unaudited)
                                             
  Operating Revenues*             Sales -- Kilowatt-hours*      
Three Months Ended Jun. 30,       Percent       Percent
    2015       2014       Change       2015       2014       Change
 
Residential $ 267,416 $ 243,437 9.9 2,330,622 2,089,150 11.6
Commercial 154,867 150,180 3.1 1,609,933 1,529,248 5.3
Industrial -- Phosphate 13,829 16,533 (16.4) 173,218 203,513 (14.9)
Industrial -- Other 27,926 26,636 4.8 319,483 297,404 7.4
Other sales of electricity 44,902 45,598 (1.5) 456,012 459,098 (0.7)
                                             
508,940 482,384 5.5 4,889,268 4,578,413 6.8
 
Deferred and other revenues 9,274 15,213 (39.0) -- -- --
Provision for Revenue Stipulation -- -- -- -- -- --
Sales for resale 987 1,166 (15.4) 31,176 26,282 18.6
Other operating revenue 13,296 14,018 (5.2) -- -- --
SO 2 Allowance Sales -- 1 (100.0) -- -- --
NOx Allowance Sales   --       --       --       --       --       --
    $ 532,497       $ 512,782       3.8       4,920,444       4,604,695       6.9
 
Average customers   717,925       705,312       1.8       --       --       --
 
Retail Net Energy For Load                           5,401,160       5,068,794       6.6
 
Total Degree Days                           1,404       1,149       22.2
 
                                             
Operating Revenues* Sales -- Kilowatt-hours*
Six Months Ended Jun. 30, Percent Percent
    2015       2014       Change       2015       2014       Change
 
Residential $ 480,816 $ 456,979 5.2 4,170,027 3,912,055 6.6
Commercial 287,855 285,029 1.0 2,960,051 2,880,126 2.8
Industrial -- Phosphate 27,250 33,263 (18.1) 340,944 411,785 (17.2)
Industrial -- Other 52,687 50,950 3.4 598,899 565,315 5.9
Other sales of electricity 85,430 88,105 (3.0) 856,077 880,899 (2.8)
                                             
934,038 914,326 2.2 8,925,998 8,650,180 3.2
 
Deferred and other revenues 16,742 13,243 26.4 -- -- --
Provision for Revenue Stipulation -- -- -- -- -- --
Sales for resale 2,871 8,136 (64.7) 84,684 132,706 (36.2)
Other operating revenue 29,400 30,237 (2.8) -- -- --
SO 2 Allowance Sales -- 1 (100.0) -- -- --
NOx Allowance Sales   --       --       --       --       --       --
    $ 983,051       $ 965,943       1.8       9,010,682       8,782,886       2.6
 
Average customers   715,977       703,816       1.7       --       --       --
 
Retail Net Energy For Load                           9,644,864       9,254,002       4.2
 
Total Degree Days                           2,034       1,719       18.3
 
                                             
Operating Revenues* Sales -- Kilowatt-hours*
Twelve Months Ended Jun. 30, Percent Percent
    2015       2014       Change       2015       2014       Change
 
Residential $ 1,031,407 $ 977,986 5.5 8,913,822 8,594,476 3.7
Commercial 604,919 592,074 2.2 6,222,131 6,115,560 1.7
Industrial -- Phosphate 53,898 68,460 (21.3) 666,736 850,045 (21.6)
Industrial -- Other 106,317 102,500 3.7 1,196,794 1,146,375 4.4
Other sales of electricity 179,224 179,760 (0.3) 1,802,074 1,831,676 (1.6)
                                             
1,975,765 1,920,780 2.9 18,801,557 18,538,132 1.4
 
Deferred and other revenues (4,004) 2,180 (283.7) -- -- --
Provision for Revenue Stipulation -- -- -- -- -- --
Sales for resale 7,691 11,744 (34.5) 211,150 225,652 (6.4)
Other operating revenue 58,655 60,829 (3.6) -- -- --
SO 2 Allowance Sales -- -- -- -- -- --
NOx Allowance Sales   --       --       --       --       --       --
    $ 2,038,107       $ 1,995,533       2.1       19,012,707       18,763,784       1.3
 
Average customers   712,241       700,650       1.7       --       --       --
 
Retail Net Energy For Load                           19,705,602       19,314,895       2.0
 
Total Degree Days                           4,353       4,126       5.5
 
* in thousands
PEOPLES GAS SYSTEM
GAS OPERATING STATISTICS (Unaudited)
                                   
  Operating Revenues*         Therms*  
Three Months Ended Jun. 30,       Percent   Percent
    2015       2014       Change   2015   2014   Change
 
By Customer Segment:
Residential $ 28,081 $ 30,667 (8.4) 12,574 15,292 (17.8)
Commercial 32,507 33,393 (2.7) 109,936 110,931 (0.9)
Industrial 3,199 3,283 (2.6) 70,194 64,819 8.3
Off System Sales 14,376 9,379 53.3 46,365 18,522 150.3
Power generation 1,951 1,666 17.1 190,763 148,694 28.3
Other revenues   11,126       10,569       5.3     --   --   --
    $ 91,240       $ 88,957       2.6     429,832   358,258   20.0
 
By Sales Type:
System supply $ 51,606 $ 50,017 3.2 65,710 40,651 61.6
Transportation 28,508 28,371 0.5 364,122 317,607 14.6
Other revenues   11,126       10,569       5.3     --   --   --
    $ 91,240       $ 88,957       2.6     429,832   358,258   20.0
 
Average customers   361,704       353,876       2.2     --   --   --
 
 
                                   
Operating Revenues* Therms*
Six Months Ended Jun. 30, Percent Percent
    2015       2014       Change     2015   2014   Change
 
By Customer Segment:
Residential $ 77,339 $ 80,411 (3.8) 46,935 48,561 (3.3)
Commercial 74,092 74,257 (0.2) 248,108 241,883 2.6
Industrial 6,442 6,918 (6.9) 146,317 136,803 7.0
Off System Sales 22,179 17,829 24.4 69,786 33,899 105.9
Power generation 3,887 3,568 8.9 375,372 304,345 23.3
Other revenues   27,251       26,555       2.6     --   --   --
    $ 211,190       $ 209,538       0.8     886,518   765,491   15.8
 
By Sales Type:
System supply $ 121,041 $ 121,666 (0.5) 131,994 98,097 34.6
Transportation 62,898 61,317 2.6 754,524 667,394 13.1
Other revenues   27,251       26,555       2.6     --   --   --
    $ 211,190       $ 209,538       0.8     886,518   765,491   15.8
 
Average customers   360,374       352,894       2.1     --   --   --
 
 
                                   
Operating Revenues* Therms*
Twelve Months Ended Jun. 30, Percent Percent
    2015       2014       Change     2015   2014   Change
 
By Customer Segment:
Residential $ 141,045 $ 136,658 3.2 79,149 77,107 2.6
Commercial 138,910 135,492 2.5 466,734 447,923 4.2
Industrial 12,626 13,715 (7.9) 283,797 269,093 5.5
Off System Sales 43,708 35,791 22.1 119,914 79,840 50.2
Power generation 7,113 7,858 (9.5) 714,539 663,354 7.7
Other revenues   49,167       45,554       7.9     --   --   --
    $ 392,569       $ 375,068       4.7     1,664,133   1,537,317   8.2
 
By Sales Type:
System supply $ 225,098 $ 214,043 5.2 228,121 187,174 21.9
Transportation 118,303 115,471 2.5 1,436,012 1,350,143 6.4
Other revenues   49,168       45,554       7.9     --   --   --
    $ 392,569       $ 375,068       4.7     1,664,133   1,537,317   8.2
 
Average customers   357,642       350,264       2.1     --   --   --
 
* in thousands
NEW MEXICO GAS COMPANY
GAS OPERATING STATISTICS (Unaudited)
                       
Operating Revenues*   Therms*  
Three Months Ended Jun. 30,     Percent     Percent
    2015      

2014 (1)

 
  Change 2015    

2014 (1)

 
  Change
 
By Customer Segment:
Residential $ 38,235 $ 44,911 (14.9 ) 38,865 36,973 5.1
Commercial 10,319 14,474 (28.7 ) 16,763 17,579 (4.6 )
Industrial 112 249 (55.0 ) 246 364 (32.4 )
Off System Sales -- -- -- -- -- --
On System Transportation 3,673 3,900 (5.8 ) 73,376 75,696 (3.1 )
Off System Transportation 232 209 11.0 12,296 11,060 11.2
Other revenues   1,481       1,672     (11.4 )   --     --     --  
  $ 54,052     $ 65,415     (17.4 )   141,546     141,672     (0.1 )
 
By Sales Type:
System supply $ 48,666 $ 59,634 (18.4 ) 55,874 54,916 1.7
Transportation 3,905 4,109 (5.0 ) 85,672 86,756 (1.2 )
Other revenues   1,481       1,672     (11.4 )   --     --     --  
  $ 54,052  

 
$ 65,415     (17.4 )   141,546     141,672     (0.1 )
 
Average customers   515,761       512,304     0.7     --     --     --  
 
Total Degree Days             472     468     0.9  
 
                       
Operating Revenues* Therms*
Six Months Ended Jun. 30, Percent Percent
    2015      

2014 (1)

 
  Change   2015    

2014 (1)

 
  Change
 
By Customer Segment:
Residential $ 125,693 157,129 (20.0 ) 160,105 159,560 0.3
Commercial 33,526 47,428 (29.3 ) 57,820 61,568 (6.1 )
Industrial 330 669 (50.7 ) 671 1,037 (35.3 )
Off System Sales 308 2,175 (85.9 ) 1,200 4,251 (71.8 )
On System Transportation 9,764 10,178 (4.1 ) 158,110 173,462 (8.9 )
Off System Transportation 437 425 3.0 22,603 22,097 2.3
Other revenues   2,968       3,177     (6.6 )   --     --     --  
  $ 173,026     $ 221,181     (21.8 )   400,509     421,975     (5.1 )
 
By Sales Type:
System supply $ 159,857 $ 207,401 (22.9 ) 219,796 226,416 (2.9 )
Transportation 10,201 10,603 (3.8 ) 180,713 195,559 (7.6 )
Other revenues   2,968       3,177     (6.6 )   --     --     --  
  $ 173,026  

 
$ 221,181     (21.8 )   400,509     421,975     (5.1 )
 
Average customers   516,273       513,096     0.6     --     --     --  
 
Total Degree Days             2,393     2,411     (0.8 )
 
                       
Operating Revenues* Therms*
Twelve Months Ended Jun. 30, Percent Percent
   

2015(1)

 
   

2014 (1)

 
  Change  

2015 (1)

 
 

2014 (1)

 
  Change
 
By Customer Segment:
Residential $ 249,614 $ 281,674 (11.4 ) 284,974 296,917 (4.0 )
Commercial 69,153 81,856 (15.5 ) 105,164 112,773 (6.7 )
Industrial 1,527 1,742 (12.3 ) 2,601 2,932 (11.3 )
Off System Sales 308 2,175 (85.8 ) 1,200 4,251 (71.8 )
On System Transportation 18,888 19,738 (4.3 ) 314,374 337,521 (6.9 )
Off System Transportation 907 840 8.0 47,462 44,409 6.9
Other revenues   6,288       6,662     (5.6 )   --     --     --  
  $ 346,685     $ 394,687     (12.2 )   755,775     798,803     (5.4 )
 
By Sales Type:
System supply $ 320,602 $ 367,447 (12.7 ) 393,939 416,873 (5.5 )
Transportation 19,795 20,578 (3.8 ) 361,836 381,930 (5.3 )
Other revenues   6,288       6,662     (5.6 )   --     --     --  
  $ 346,685     $ 394,687     (12.2 )   755,775     798,803     (5.4 )
 
Average customers   513,197       510,501     0.5     --     --     --  
 
Total Degree Days             4,016     4,349     (7.7 )
 
(1) Information presented for 2014 is for comparative purposes only, as this was before the date of acquisition (Sep. 2, 2014).
* in thousands

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