ENMAX Corporation (“ENMAX”) today announced record annual revenue of over $2.6 billion, and net earnings of $181.1 million, increases of 26% and 28%, respectively, over its 2007 results. This record revenue was achieved during a year in which ENMAX Energy’s EasyMax® program provided residential and small commercial customers with the lowest fixed electricity rate in the province.

“This has been another exceptional year for ENMAX, our owner and our customers,” said ENMAX President & CEO Gary Holden.  “We’ve achieved our fourth straight year of growth while continuing to deliver solid results for our shareholder.”

“This year, we demonstrated our ongoing commitment to the environment by building generation facilities that produce power at reduced greenhouse gas (GHG) emission rates compared to existing coal facilities in Alberta,” noted Holden. “Construction is underway on the 120 megawatt (MW) natural-gas peaking Crossfield Energy Centre and the Calgary Downtown District Energy Centre, with completion scheduled for 2009 and early 2010, respectively.”

Electricity sales in 2008 were 17,783 gigawatt hours (GWh), an increase of 11.4 per cent over the 2007 amount of 15,958 GWh.  Natural gas sales also rose 20 per cent from 26,944 terajoules (TJ) in 2007 to 32,354 TJ in 2008.

ENMAX Power invested approximately $140 million in its transmission and distribution networks in 2008 for the continued provision of exceptional reliability for Calgary’s rapidly growing power needs.

In 2008, ENMAX Energy, through a subsidiary, purchased the 300 MW Calgary Energy Centre and 63 MW Kettles Hill Wind Farm, delivering on its ongoing strategy to provide secure, cost effective electricity supply for its customers while acquiring generation facilities with lower GHG emission rates than existing coal plants.

ENMAX paid a fourth and final instalment of $12.5 million to complete the $50 million total dividend the Corporation declared to its shareholder earlier in the year.

ENMAX Corporation, through subsidiaries and predecessors, has provided Albertans with safe and reliable electricity for more than 100 years. ENMAX provides electricity, natural gas and value-added services to more than 600,000 residential, commercial and industrial metered customer locations in Alberta.  ENMAX Energy Corporation, a subsidiary of ENMAX Corporation, is Alberta’s leading competitive electricity retailer.  Through subsidiaries, ENMAX Energy is one of Alberta’s largest investors in renewable energy and was the first Canadian electricity retailer to offer customers the option to support wind generated energy. As well, ENMAX Corporation, through its subsidiary ENMAX Envision, provides fiber optic networks for high speed data and internet communications.