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.