EDMONTON, AB, Feb. 26, 2026 /CNW/ – EPCOR Utilities Inc. (EPCOR) today filed its annual and fourth quarter results for 2025.
“EPCOR’s people delivered strong safety, operational and financial performance in 2025, and realized value from commercial growth opportunities,” said John Elford, EPCOR President and CEO. “We serve growing communities across North America and continue to see solid customer growth across our regulated water and electricity distribution utilities, as well as an evolving customer mix in our retail energy business. We continued to prioritize delivering value for our customers through strong reliability performance, exceptional customer satisfaction, and ongoing work to limit increases in operating costs per customer.”
“We are making growing investments to ensure utility infrastructure is safe, reliable and sustainable, and keeping pace with community growth and customer needs. In 2025, EPCOR invested nearly $1.2 billion in capital across our North American footprint, the second consecutive year we exceeded $1 billion in capital placement.”
“In November 2025, we announced that based on the current and expected performance of our business we are increasing the dividend to our shareholder, the City of Edmonton, from $201 million in 2025 to $206 million in 2026.”
Highlights of EPCOR’s financial performance are as follows:
- Net income was $147 million and $533 million for the three months and year ended December 31, 2025, respectively, compared with net income of $88 million and $427 million for the comparative periods in 2024, respectively. The increase of $59 million and $106 million for the three months and year ended December 31, 2025, respectively, was primarily due to the Project Blue Sky transfer fee, higher Adjusted EBITDA1 and transmission system access service charge net collections, partially offset by income tax expenses, depreciation and amortization, other income and gain (loss) on disposals, finance expenses and fair value adjustments related to financial electricity purchase contracts.
- Adjusted EBITDA1 was $297 million and $1,219 million for the three months and year ended December 31, 2025, respectively, compared with $287 million and $1,147 million for the comparative periods in 2024, respectively. The increase of $10 million and $72 million for the three months and year ended December 31, 2025, respectively, was primarily due to higher rates, customer growth, regulated electricity margins and commercial activity. These were partially offset by lower construction activity and higher operating costs. In addition, for the year ended December 31, 2025, there was higher consumption per customer, partially offset by higher staff costs.
- Investment in capital projects was $1,170 million for the year ended December 31, 2025, compared with $1,019 million for the corresponding period in 2024.
|
1. |
Adjusted EBITDA is a non-GAAP financial measure. See the Non-GAAP Financial Measures section in Appendix 1 to this media release. |
Management’s discussion and analysis and the audited consolidated financial statements are available on EPCOR’s website (www.epcor.com) and SEDAR+ (www.sedarplus.ca).
About EPCOR
EPCOR, through its wholly owned subsidiaries, builds, owns and operates electrical, natural gas and water transmission and distribution networks, water and wastewater …