text: Electricity costs also increased in 2013, up 11.3% year‑over‑year. Killam’s rental incentives have increased the amount of rents with electricity 
  included at certain New Brunswick properties to compete with similar promotions offered by other apartment owners in the market. Rents are 
  typically increased to offset this additional expense, however tenants are attracted to fixing the cost of electricity in a monthly rental payment. 
  
  Same store water expense increased by 3.1% for the year. Increased water rates in Halifax contributed to this increase, but were partially offset 
  by water saving initiatives. Water cost as a percentage of revenue is expected to increase over the next year and a half due to increased water 
  rates in Halifax that became effective July 2013. An additional increase will come into effect in April 2014. Killam is evaluating the full impact 
  of these increases, but expects a 10% to 15% increase in water costs in 2014 compared to 2013. Killam will continue to invest in water saving 
  initiatives to mitigate its exposure to these increased costs. 
  
  **Apartment Same Store NOI by City**
  
  Net revenue growth of 1.6%, offset by increased property operating expenses, has resulted in a decrease in same store apartment NOI by 1.0% 
  during 2013. Excluding the impact of the spike in natural gas costs, same store NOI would have increased by 1.0% in 2013. Same store NOI results 
  by city, as shown in the chart below, vary depending on changes in occupancy levels in each market and the higher utility costs experienced in 
  some regions during 2013. 