Earnings Summary -- Earnings per average share of common stock in 1995 were $2.26 as compared with $2.23 in 1994. The 1995 earnings represent an earned return on average common equity of 10.3 percent. In both 1994 and 1993, the earned return on average common equity was also 10.3 percent.
The 1995 increase in earnings was primarily due to higher retail revenues resulting from a 9.25 percent retail rate increase that went into effect in June 1995, increased sales of electricity to the Company's commercial and industrial customers, and a $557,000 increase in the earnings of Mountain Energy, Inc., the Company's wholly-owned subsidiary that invests in electric energy generation and efficiency projects.
The principal factor contributing to the increase in 1994 was a $722,000 increase in earnings of Mountain Energy, Inc. and a $523,000 increase in earnings of Green Mountain Propane Gas Company, the Company's wholly-owned propane subsidiary.
