Question-and-Answer Session
[Operator instructions]. Your first question comes from John Kiani.
John Kiani - Deutsche Bank Securities
Good morning.
Donald E. Brandt - President and Chief Operating Officer
Hi, John.
William J. Post - Chairman and Chief Executive Officer
Hi, John.
John Kiani - Deutsche Bank Securities
Don, I know you touched on this in your opening remarks, but can you give a little bit more color around some of the benefits that APS is going to realize or do you now expect APS will realize, like for example how much earnings contribution is associated with the favorable mark on the fuel hedges maybe the wholesale revenues piece and also the tax pieces, as well please?
Donald E. Brandt - President and Chief Operating Officer
Sure. I will maybe go a little backwards here, John. The taxes are about $0.16 a share.
John Kiani - Deutsche Bank Securities
Okay.
Donald E. Brandt - President and Chief Operating Officer
The mark-to-market is about $0.04. And the improved wholesale revenues are about $0.04.
John Kiani - Deutsche Bank Securities
And what was the tax associated with, the tax benefit?
Donald E. Brandt - President and Chief Operating Officer
Just some resolutions of some outstanding tax matters, principally income tax.
John Kiani - Deutsche Bank Securities
Okay. And then, from a long term forecasting perspective, should we expect something like that to recur in '09 or that's just more of a near term benefit?
Donald E. Brandt - President and Chief Operating Officer
More of a near term benefit.
John Kiani - Deutsche Bank Securities
Okay. And then as far as SunCor is concerned, I mean, I think, you laid out pretty clearly your near term expectation for SunCor, how should we think about SunCor a little bit longer term from an earnings contribution perspective? Do you have a view on when you think that business will eventually turn around?
Donald E. Brandt - President and Chief Operating Officer
I think our sense is, at the earliest, towards the end of 2009.
John Kiani - Deutsche Bank Securities
So, then we should think then more about kind of the similar level of contribution perhaps into '09 and then maybe something better beyond that?
Donald E. Brandt - President and Chief Operating Officer
Well, we haven't gotten into that today, but we have within the level of earnings at SunCor, which I said is minimal.
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