Manitoba Hydro forecasts a $190M net loss due to drought-induced low water levels and reduced power production.
Manitoba Hydro forecasts a $190M net loss for the fiscal year ending in March, up $29M from previous projections. This is mainly due to widespread drought conditions across the Lake Winnipeg basin, which have led to low water levels and reduced power production by nearly a quarter of what was initially predicted. The utility initially expected net income of $450M for this fiscal year.
February 22, 2024
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