For the second quarter of 2009, revenue was $46.5 million as compared to $54.2 million in the second quarter of 2008. The decrease in revenue is from reduced average energy rates due primarily to the economic slow down in the U.S. and lower gas prices at the Sanger and Windsor Locks facilities in the Thermal Energy division.

Earnings before interest, taxes, depreciation, and amortization ("EBITDA") was $20.0 million in the second quarter of 2009 as compared to $22.9 million in the second quarter of 2008. The decrease in EBITDA is primarily related to lower earnings from operations resulting from lower gas prices and reduced demand for steam in the Thermal Energy division, and lower average energy rates earned by the Renewable Energy division's U.S. facilities.

Adjusted net earnings in the second quarter of 2009 were $3.8 million or $0.05 per trust unit as compared to adjusted net earnings of $4.4 million or $0.06 per trust unit in the second quarter of 2008. Algonquin uses adjusted net earnings to assess the net earnings of Algonquin without the effects of gains or losses on foreign exchange, foreign exchange forward contracts, and interest rate swaps as these are primarily non-cash items that are not reflective of the performance of the underlying business of Algonquin.

Net earnings in the second quarter of 2009 were $15.3 million or $0.20 per trust unit as compared to net earnings of $8.0 million or $0.11 per trust unit for the second quarter of 2008. The increase in net earnings was primarily the result of mark to market gains on derivative financial instruments which are strictly used to de-risk Algonquin Power's cash-flow.

   Performance Summary for the second quarter of 2009:    -   Revenue of $46.5 million in Q2 2009 as compared to $54.2 million in       Q2 2008.    -   EBITDA of $20.0 million in Q2 2009 as compared to $22.9 million in Q2       2008.    -   Net earnings of $15.3 million or $0.20 per trust unit in Q2 2009 as       compared to net earnings of $8.0 million or $0.11 per trust unit in       Q2 2008.    -   Adjusted net earnings of $3.8 million or $0.05 per trust unit in Q2       2009 as compared to adjusted net earnings of $4.4 million or $0.06       per trust unit in Q2 2008.    Performance Summary for the first six months of 2009:    -   Revenue of $98.7 million for the first six months of 2009 as compared       to $102.2 million in the first six months of 2008.