Positive earnings report for Liberty Energy’s parent firm

Liberty Energy’s parent company Algonquin Power & Utilities Corp. today announced financial results for the second quarter ended June 30, 2011, with results showing increased revenue, earnings before interest, taxes, depreciation, and amortization and earnings compared to the previous year.

For the second quarter of 2011, revenue was $66.8 million as compared to $42 million in the second quarter of 2010.

Liberty Energy provides electricity to the California side of the Lake Tahoe Basin as well as to Alpine County.

Officials said the increase in revenue over 2010 is primarily the result of a subsidiary of Liberty Utilities Co. acquiring a California-based electricity distribution utility and related generation assets at the beginning of 2011, increases at the end of 2010 due to the results of rate case approvals for revenue increases in Liberty Utilities water distribution and wastewater treatment business, and the Energy-from-Waste facility being operational as compared to the same time last year when it was undergoing repairs.

— Lake Tahoe News staff report