Winnipeg Free Press - ONLINE EDITION

Hydro's Q2 results bolstered by increased exports

  • Print

Higher power export sales improved Manitoba Hydro’s second-quarter results by $38 million, the Crown utility said late Friday.

Hydro released its quarterly report ending Sept. 30 that showed extra-provincial revenues of $245 million, $38 million (or 18 per cent) higher than the same period last year.

Hydro said that’s mostly due to higher export sales, favourable water conditions and higher export prices.

It said energy sold in the export market was 7.1 billion kilowatt-hours compared to 6.0 billion kilowatt-hours sold in the same period last year.

If the current trends continue, Hydro said its financial position will improve over the rest of the fiscal year and net income should exceed $100 million by March 31, 2014.

It also said this year’s second-quarter increased revenues resulted in a net loss of $2 million for the first six months of the 2013-14 fiscal year, compared to a net loss for the same period last year of $43 million.

Hydro’s consolidated net loss was comprised of a $21-million loss in the natural gas sector and a $19-million profit in the electricity sector. The loss in the natural gas sector is the result of seasonal variations in the demand for natural gas and is expected to be recouped over the winter heating season.

 

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Sneak peek: The galleries of CMHR

View more like this

Photo Store Gallery

  • A squirrel enjoys the morning sunshine next to the duck pond in Assiniboine Park Wednesday– June 27, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • June 25, 2013 - 130625  -  A storm lit up Winnipeg Tuesday, June 25, 2013. John Woods / Winnipeg Free Press - lightning

View More Gallery Photos

Poll

Should the Canadian Museum for Human Rights use the word 'genocide' in exhibits on Indian residential schools?

View Results

View Related Story

Ads by Google