Energy Savings Income Fund
TSX : SIF.UN

Energy Savings Income Fund

May 04, 2009 08:50 ET

Energy Savings Income Fund Announces May Distribution

TORONTO, ONTARIO--(Marketwire - May 4, 2009) - Energy Savings Income Fund (TSX:SIF.UN) filed notice with the Toronto Stock Exchange today announcing its regular distribution for May. A distribution of $0.10333/unit ($1.24 annually) will be paid on May 31st, 2009 to Unitholders of record at the close of business on May 15th, 2009. The Units trade on the Toronto Stock Exchange under the symbol "SIF.UN".

The Fund

Energy Savings' business involves the sale of natural gas and/or electricity to residential and commercial customers under long-term fixed-price and price-protected contracts. By fixing the price of natural gas or electricity under its fixed-price or price-protected program contracts for a period of up to five years, Energy Savings' customers offset their exposure to changes in the price of these essential commodities. Energy Savings, which commenced business in 1997, derives its margin or gross profit from the difference between the fixed price at which it is able to sell the commodities to its customers and the fixed price at which it purchases the associated volumes from its suppliers. A new partnership was entered into on July 18, 2008 which involves the marketing, leasing, sale and installation of tankless and high efficiency water heaters.

Forward-Looking Statements

The Fund's press releases may contain forward-looking statements including statements pertaining to customer revenues and margins, customer additions and renewals, customer attrition, customer consumption levels, distributable cash and treatment under governmental regulatory regimes. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, levels of customer natural gas and electricity consumption, rates of customer additions and renewals, rates of customer attrition, fluctuations in natural gas and electricity prices, changes in regulatory regimes and decisions by regulatory authorities, competition and dependence on certain suppliers. Additional information on these and other factors that could affect the Fund's operations, financial results or distribution levels are included in the Fund's annual information form and other reports on file with Canadian securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com or through the Fund's website at www.esif.ca

The Toronto Stock Exchange has neither approved nor disapproved of the contents of this release.

Contact Information

  • Energy Savings Income Fund
    Ms. Rebecca MacDonald
    Executive Chair
    (416) 367-2872
    or
    Energy Savings Income Fund
    Ken Hartwick C.A.
    President and Chief Executive Officer
    (905) 795-3557
    or
    Energy Savings Income Fund
    Beth Summers C.A.
    Chief Financial Officer
    (905) 795-4206
    www.esif.ca