Uncategorized

Electric utility index up 14.3 percent in 2003, signaling sector turnaround, EEI reports


WASHINGTON, Oct. 9, 2003 — The shareholder-owned electric utility sector outperformed the Dow Jones Industrial Average for the first three quarters of 2003, besting the Big Board’s total shareholder return by more than a percentage point, the Edison Electric Institute said.

According to the EEI Index of Shareholder-Owned Electric Utilities, the electric sector delivered an aggregate total return of 14.3 percent for the nine months ending September 30, while the DJIA achieved a 13.1 percent gain. During the same period, the S&P 500 total shareholder return was 14.7 percent.

“These results confirm the fact that our sector is in the middle of a strong financial rebound, and that investors are regaining their historic confidence in our companies,” said David K. Owens, EEI’s executive vice president, business operations.

Edison Electric Institute (EEI) is the association of United States investor-owned electric utilities and industry affiliates and associates worldwide. Its domestic members generate approximately three-quarters of all the electricity generated by electric utilities in the country and serve about 70 percent of all ultimate customers in the nation.