Milwaukee-based Wisconsin Energy Corp. today reported first quarter net income of $207.6 million, or 91 cents per share, up from $176.6 million, or 76 cents per share, in the first quarter of 2013.
Revenue was $1.7 billion, up from $1.3 billion in the same period a year ago.
The increases were attributed to severe winter weather, which drove record demand for natural gas in the early part of the year. The previous record for natural gas delivered during a quarter, set in 2008, was broken by 11 percent.
โOur gas and electric delivery networks and our generating fleet โ including our newest units at Oak Creek and Port Washington โ performed exceptionally well during the harshest weather conditions weโve seen in more than 30 years,โ said Gale Klappa, chairman and chief executive officer. โThe investments weโve made in modern, efficient infrastructure made a real difference for our customers this winter.โ