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CU UTILITIES LIMITED An ATCO Company July 29 , 2021 CANADIAN UTILITIES REPORTS HIGHER SECOND QUARTER 2021 ADJUSTED EARNINGS CALGARY , Alberta - Canadian Utilities Limited ( TSX : CU ) ( TSX : CU.X ) Canadian Utilities today announced second quarter 2021 adjusted earnings of $ 115 million ( $ 0.43 per share ) , which were $ 21 million ( $ 0.09 per share ) higher compared to $ 94 million ( $ 0.34 per share ) in the second quarter of 2020 . News Release Higher adjusted earnings in the second quarter of 2021 were mainly due to stronger results from the Utilities segment related to ongoing transition work and commencement on June 1 , 2021 under the Supplemental Agreement to LUMA Energ0y's 15 - year contract to modernize and operate Puerto Rico's electricity transmission and distribution system . A return to more stable levels of inflation in Australia also provided a positive impact to earnings . IFRS earnings attributable to equity owners of the Company were $ 5 million in the second quarter of 2021 , $ 67 million lower compared to 2020. Earnings attributable to equity owners of the Company include timing adjustments related to rate - regulated activities , dividends on equity preferred shares of the Company , unrealized gains or losses on mark - to - market forward and swap commodity contracts , one - time gains and losses , impai ents , and items that are not in the normal course of business or a result of day - to - day operations . These items are not included in adjusted earnings . RECENT DEVELOPMENTS ● ● Invested $ 430 million in capital projects in the second quarter of 2021 , of which 96 per cent was invested in regulated utilities . Received a decision from the Alberta Utilities Commission on June 15 , 2021 approving the acquisition of the Pioneer Pipeline from Tidewater Midstream & Infrastructure and its partner TransAlta Corporation for the purchase price and associated integration costs of $ 265 million , and the corresponding revenue requirement for 2021 to be included in Natural Gas Transmission's rates . As part of the transaction , Natural Gas Transmission will transfer approximately 30 - km of the pipeline to Nova Gas Transmission Ltd. for $ 65 million upon approval from the Canada Energy Regulator . LUMA Energy commenced operations on June 1 , 2021 under the Supplemental Agreement to its 15 - year contract to modernize and operate Puerto Rico's electricity transmission and distribution system after successful completion of the one - year transition period .