Allegheny Power 2013 Annual Report Download - page 42
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27
Regulated Distribution — 2012 Compared with 2011
Net income increased by $52 million in 2012 compared to 2011, primarily due to two additional months of earnings from the Allegheny
Utilities and lower merger-related costs, partially offset by decreased weather-related customer usage in 2012.
Results of operations for the year ended December 31, 2011, include only ten months of Allegheny results which have been
segregated from the pre-merger companies (FirstEnergy and its subsidiaries prior to the merger) for reporting and analysis.
Revenues —
The $853 million decrease in total revenues resulted from the following sources:
For the Years Ended
December 31, Increase
Revenues by Type of Service 2012 2011 (Decrease)
(In millions)
Pre-merger companies:
Distribution services $ 3,247 $ 3,428 $ (181)
Generation sales:
Retail 2,540 3,266 (726)
Wholesale 206 377 (171)
Total generation sales 2,746 3,643 (897)
Transmission 300 219 81
Other 167 180 (13)
Total pre-merger companies 6,460 7,470 (1,010)
Allegheny Utilities(1) 2,600 2,443 157
Total Revenues $ 9,060 $ 9,913 $ (853)
(1) Allegheny results include 12 months in 2012 and 10 months in 2011.
The decrease in distribution services revenue for the pre-merger companies reflects lower distribution deliveries (described below),
the suspension of Ohio's deferred distribution cost recovery rider in December 2011 and an NJBPU-approved reduction to the
JCP&L NUG Rider which became effective on March 1, 2012, partially offset by an increase in Ohio's energy efficiency rider and
a PPUC-approved increase to the ME and PN NUG Riders which also became effective on March 1, 2012. Distribution deliveries
(excluding the Allegheny Utilities) decreased by 1.7% in 2012 from 2011. Distribution deliveries by customer class are summarized
in the following table:
Year Ended December 31 Increase
Electric Distribution MWH Deliveries 2012 2011 (Decrease)
(In thousands)
Pre-merger companies:
Residential 38,493 39,369 (2.2)%
Commercial 32,149 32,610 (1.4)%
Industrial 35,139 35,637 (1.4)%
Other 492 513 (4.1)%
Total pre-merger companies 106,273 108,129 (1.7)%
Allegheny Utilities(1) 40,328 33,449 20.6 %
Total Electric Distribution MWH Deliveries 146,601 141,578 3.5 %
(1) Allegheny results include 12 months in 2012 and 10 months in 2011.
Lower deliveries to residential and commercial customers for the pre-merger companies primarily reflect decreased weather-related
usage resulting from heating degree days that were 10% below 2011 levels, a slight reduction in the number of residential customers
and declining average customer consumption caused, in part by, increasing energy efficiency mandates and demand response