Local

Winnipeg Free Press - ONLINE EDITION

Hydro posts net loss of $38M in first nine months

By: Staff Writer

Posted: 02/22/2013 2:50 PM | Comments: 0

(JOHN WOODS / FREE PRESS ARCHIVES)

Manitoba Hydro announced today it has posted a net loss of $38 million for the first nine months of the fiscal year.

It blamed decreased revenues from out-of-province sales for the red ink. Last year, it earned profits of $29 million during the same period.

Depending on the results of a rate increase application currently before the Manitoba Public Utilities Board, the Crown corporation said it could still post a profit of $30 million for the entire year.

Hydro's consolidated net loss of $38 million was comprised of a $24 million loss in the electricity sector and a $14 million loss in the natural gas sector. The loss in the natural gas sector is the result of seasonal variations in the demand for natural gas and should be recouped over the winter heating season, Hydro said.

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

In which story did you find the error? *
Please post the headline of the story or the title of the video with the error.
What was the error? *
Please post exactly what was wrong with the story.
What should we have written?
Please indicate your source for the correct information.
Who else should we interview to improve this story?
Please include any contact information you may have.
Can we contact you in the future for advice on stories about this topic?
Yes

No
First Name: *
Last Name: *
E–mail Address: *
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.
Phone: *
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.
Colour:
Are you blue? If you can see this, leave it blank and get some CSS support.
Enter the words that you see: * This is to prevent our forms from being filled out automatically.
You have failed to correctly identify the words in the box above. Please try again.

More Local

Undock

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

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.