37643--3/25/2008--FLORIDA_PUBLIC_UTILITIES

related topics

{gas, price, oil}

{condition, economic, financial}

{operation, natural, condition}

{operation, international, foreign}

{cost, regulation, environmental}

{competitive, industry, competition}

{acquisition, growth, future}

{provision, law, control}

{stock, price, share}

A substantial portion of our revenues and, to a large extent, our profitability, depends upon rates determined by the FPSC. Some of our natural gas and electric service costs may not be fully recovered through retail rates. Our business segments are sensitive to variations in weather. We operate in an increasingly competitive industry, which may affect our future earnings. Our business could be adversely affected if our supply of natural gas is interrupted. General economic conditions may adversely affect our segments. Commodity price changes may affect the operating costs and competitive position of our segments. We could incur material expenses as a result of our obligations to comply with existing and new environmental laws and regulations. We rely on a limited number of natural gas and electric suppliers, the loss of which could materially adversely affect our financial condition and results of operations. New supply contracts could result in substantial increases to our prices, and could materially adversely affect our financial condition and results of operations. Fluctuation in prices under long-term purchase and transportation commitments may have an adverse effect on our financial condition and results of operations. Problems with operations could materially adversely impact us. We are vulnerable to interest rate changes and may not have access to capital at favorable rates, if at all. Failure to effectively and efficiently manage our growth, as well as changes in our business strategies, could have a negative impact on our performance. Our ability to pay dividends on our common stock is limited. Provisions in our certificate of reincorporation, certain agreements, and the Florida Business Corporation Act may inhibit a takeover, which could adversely affect the value of our common stock. Conflict or turmoil in oil producing countries could impact future prices for commodities including natural gas, propane gas and electricity, and increases in these prices could materially affect our financial condition and results of operations. If conservation costs incurred are determined not to be appropriate for recovery through conservation programs and rates, these costs would directly impact our net operating income and could significantly decrease our earnings.

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37643--3/25/2008--FLORIDA_PUBLIC_UTILITIES_CO