text: Killam’s apartment properties are heated with a combination of natural gas (55%), electricity (36%), oil (8%) and other sources (1%). 
  
  Electricity costs at the unit level are usually paid directly by tenants, reducing Killam’s exposure to the majority of the 4,500 units heated with 
  electricity. Fuel costs associated with natural gas or oil fired heating plants are paid by Killam. As such, the Company is exposed to fluctuations 
  in natural gas and oil costs, which represent 40.9% of total same store utility and fuel costs in 2013. Killam invests in green initiatives at its 
  properties to maximize efficiencies, including converting many of its Halifax properties to natural gas from oil over the last three years as natural 
  gas infrastructure has been expanded in the city. The decision to convert was supported by the substantial price difference between the cost of 
  natural gas and oil in recent years. 
  
  As noted in the table above, Killam’s utility and fuel expenses increased 14.6% in 2013 compared to 2012. The increase was primarily attributable 
  to higher natural gas, electricity costs and water costs. 
  
  Killam’s natural gas expenses increased by 67.3% in 2013 due to higher gas prices in Atlantic Canada and an increase in properties burning 
  natural gas following conversions of certain Halifax heating plants from oil to gas in 2012 and 2013. The reduction in oil expense in the quarter 
  and year‑to‑date reflects this reduction in oil exposure. 