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Measured in Canadian dollars, from the date of acquisition to December 31, 2012, Liberty Utilities (East)’s electricity purchases totalled $24.3 million, and natural gas purchases totalled $23.8 million. 

Measured in Canadian dollars, from the date of acquisition to December 31, 2012, Liberty Utilities (East)’s operating expenses excluding electricity and natural gas purchases totalled $30.2 million. 

Measured in Canadian dollars, from the date of acquisition to December 31, 2012, Liberty Utilities (East)’s operating profit totalled $8.8 million. 

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For the three months ended December 31, 2012, Liberty Utilities (East)’s electricity usage totalled 212.1 GW-hrs and natural gas usage totalled 3,266,800 MMBTU. 

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$^{1}$ Natural Gas costs are shown net of U.S. $1.7 million regulatory authorized deferral related to an under recovery of actual gas costs. 

## 2012 Fourth Quarter Operating Results 

For the three months ended December 31, 2012, Liberty Utilities (East)’s revenue totalled U.S. $55.8 million. 

For the three months ended December 31, 2012, Liberty Utilities (East)’s revenue from utility electricity sales totalled U.S. $17.7 million. The cost of electricity is passed through to Liberty Utilities (East)’s customers. As a result, the division compares ‘net utility electricity sales’ (revenue from electricity sales less fuel and purchased power costs) as a more appropriate measure of the division’s results. For the three months ended December 31, 2012, net electricity utility sales for Liberty Utilities (East) totalled U.S. $5.4 million. 

For the three months ended December 31, 2012, Liberty Utilities (East)’s revenue from natural gas sales and distribution totalled U.S. $38.1 million. The cost of natural gas by Liberty Utilities (East) is passed through to Liberty Utilities (East)’s customers. As a result, the division compares ‘net utility natural gas sales and distribution revenue’ (utility natural gas sales and distribution revenue less natural gas purchases) as a more appropriate measure of the division’s results. For the three months ended December 31, 2012, net utility natural gas sales and distribution revenue for Liberty Utilities (East) totalled U.S. $16.2 million. 

For the three months ended December 31, 2012, electricity purchases for Liberty Utilities (East) totalled U.S. $12.3 million, and natural gas purchases totalled U.S. $21.9 million. 

For the three months ended December 31, 2012, operating expenses, excluding electricity and natural gas purchases, totalled U.S. $16.5 million. 

