Historical Summary
	Graphs

2007 2006(1) 2005(1) Statements of Earnings (in $ millions) Revenue, including equity income 2,718 1,472 1,441 Energy supply costs and operating expenses 1,904 939 926 Amortization 273 178 158 Finance charges 299 168 154 Corporate taxes 36 32 70 Results of discontinued operations, gains on sales and other unusual items 8 2 10 Non-controlling interest 15 8 6 Preference share dividends 6 2 - Net earnings applicable to common shares 193 147 137 Balance Sheets (in $ millions) Current assets 1,064 405 299 Goodwill 1,544 661 512 Other long-term assets 424 331 471 Utility capital assets and income producing properties 7,241 4,044 3,315 Total assets 10,273 5,441 4,597 Current liabilities 1,804 558 412 Deferred credits, regulatory liabilities and future income taxes 688 477 477 Long-term debt and capital lease obligations (excluding current portion) 4,623 2,588 2,136 Non-controlling interest 115 130 39 Preference shares (classified as debt) 320 320 320 Shareholders’ equity 2,723 1,398 1,213 Cash Flows (in $ millions) Operating activities 373 263 304 Financing activities 1,826 456 224 Investing activities 2,033 634 467 Dividends, excluding dividends on preference shares classified as debt 146 77 64 Financial Statistics Return on average common shareholders’ equity (%) 9.99 11.87 12.40 Capitalization Ratios (%) (year end) Total debt and capital lease obligations (net of cash) 64.3 61.1 58.7 Preference shares (classified as debt and equity) 5.2 10.0 8.6 Common shareholders’ equity 30.5 28.9 32.7 Interest Coverage (x) Debt 1.9 2.2 2.5 All fixed charges 1.7 2.0 2.1 Capital Expenditures (in $ millions) 803 500 446 Common Share Data Book value per share (year end) ($) 16.69 12.19 11.74 Average common shares outstanding (in $ millions) 137.6 103.6 101.8 Basic earnings per common share ($) 1.40 1.42 1.35 Dividends declared per common share ($) 0.880 0.700 0.605 Dividends paid per common share ($) 0.820 0.670 0.588 Dividend payout ratio (%) 58.6 47.2 43.7 Price earnings ratio (x) 20.7 21.0 18.0 Share Trading Summary High price ($) (TSX) 30.00 30.00 25.64 Low price ($) (TSX) 24.50 20.36 17.00 Close price ($) (TSX) 28.99 29.77 24.27 Volume (in thousands) 100,920 60,094 37,706

⁽¹⁾ As of December 31, 2006, the regulatory provision for future site removal and restoration costs was reallocated from accumulated amortization to long-term regulatory liabilities, with 2005 comparative figures restated. The effect of this change in presentation at December 31, 2006 was a $306.5 million (December 31, 2005 - $280.9 million) increase in long-term regulatory liabilities and a $306.5 million (December 31, 2005 - $280.9 million) increase in net utility capital assets.