Belco has announced significant year-on-year increases in its sale of electricity and gas during the second quarter.

The company's quarterly report said total kilowatt sales of electricity through May were 3.53 percent ahead of the same period in 2006. Demand, or large commercial sales, increased 4.44 percent, while small commercial sales were also ahead 2.38 percent.

Since the beginning of the year, 753 new residential metered connections have been installed, contributing to a 3.14 percent increase in residential sales for the first five months of 2007 compared to the same period in 2006.

The performance of Belco's Bermuda Gas unit rebounded strongly from 2006, with its overall sales rising 11.08 percent through April.

Gas sales for the period were up 3.92 percent, while appliance sales, rebounding after resolution of supply and inventory issues, increased 41.86 percent over the same period in 2006, as Bermuda Gas is also now benefiting from greater consumer traffic at its central Church Street location.

Service and parts sales were also 2.44 percent ahead of last year, despite a slight reduction in service personnel.

Belco's board of directors has declared a dividend of 20.25 cents per share for the second quarter of 2007.