$96.8M
Total
Revenue
0.7% from previous year
$43.3M
Operating
Expenses
-1.2% from previous year
$35.0M
Capital
Investment
-29.4% from previous year
$98.2M
Energy Purchasing and Transmission
-0.4%from previous year
Revenues of $96.8 million are a slight increase over the 2019 balance of $96.1 million.
The total operating expense of $43.3 million incurred to run the operations of all the utilities is a one per cent decrease over 2019. The main reason for the decrease is the corporate-wide effort to reduce spending and mitigate the impacts of the global COVID-19 pandemic.
We also managed capital investments of $35 million in 2020, most of which related to replacing ageing infrastructure.
In addition, Utilities Kingston is responsible for managing the purchase and transmission of gas and electric energy for our customers. Neither Utilities Kingston nor our primary customers make any profit from the provision of this service.
In total these purchases represented $98.2 million for 2020, a slight decrease from the 2019 value of $98.6 million.
The following tabs present financial information for our four large utilities, and the appliance rental and broadband networking businesses.
$30.4M
Total Revenue
$12.4M
Operating Expenses
$7.9M
Capital Investment
Revenues billed on behalf of the City of Kingston were $30.4 million, a three per cent increase over 2019, and 103 per cent of budget.
Operating expenditures incurred were $12.4 million, a slight increase of less than one per cent from 2019 and 84 per cent of budget. The main reason for ending under budget is the corporate-wide effort to reduce spending and mitigate the impacts of the global COVID-19 pandemic.
A total of $7.9 million in capital improvements was invested in the water utility in 2020, with the major expenditures being watermain relining, water network equipment upgrade, water main replacement on Wright Crescent and a new water main on John Counter Boulevard.
$35.1M
Total Revenue
$15.6M
Operating Expenses
$19.2M
Capital Investment
Revenues billed on behalf of the City of Kingston were $35.1 million, a three and a half per cent increase over 2019 and 103 per cent of budget.
Operating expenditures incurred were $15.6 million, no change from 2019 and 91 per cent of budget. The main reason for ending under budget is the corporate-wide effort to reduce spending and mitigate the impacts of the global COVID-19 pandemic.
In 2020, $19 million was spent on capital projects for the wastewater utility with the major expenditure being the expansion of the Cataraqui Bay Wastewater Treatment Plant.
$10.8M
Distribution Revenue
$4.6M
Operating Expenses
$1.6M
Capital Investment
$12.0M
Commodity, Storage and Transportation
Total revenues billed on behalf of the City of Kingston for its natural gas distribution business were $10.8 million, a two per cent decrease from 2019.
Operating expenditures incurred were $4.6 million, a six per cent increase from 2019. The year-over-year increase is primarily due to increased expenditures in general gas maintenance and metering.
In 2020, $1.6 million was spent on capital reinvestment in the gas utility, with major expenditures being the annual gas meter and gas service replacements.
In addition, $12.0 million was expended on natural gas commodity, storage and transportation costs.
$13.4M
Distribution Revenue
$7.5M
Operating Expenses
$4.0M
Capital Investment
$86.2M
Commodity and Transmission Costs
Local distribution and other revenue billed on behalf of Kingston Hydro Corporation was $13.4 million, a nine per cent decrease over 2019.
Operating expenditures of $7.5 million were ten per cent lower than 2019 due to a decrease in Independent Electricity System Operator (IESO) conservation expenses.
In 2020, $4.0 million was invested in capital improvement to the systems. The major project continues to be the rebuilding and updating of Municipal Substation No. 1.
In addition, $86.2 million was expended on electricity commodity and transmission costs.