hydro

SaskPower projecting rare $100M loss this year

SaskPower projecting rare $100M loss this year

SaskPower is projecting a net shortfall of $105 million this fiscal year, something the minister responsible for the Crown corporation, Don Morgan, says is rare. SaskPower reported a net income loss of $97 million in the first half of 2022-23, a period that ending Sept. 30. Over the same period in 2021-22, the corporation reported $13 million in net income. The $110-million swing was due to a $172-million increase in expenses.

Hydro 'windfall' helps Manitoba shrink deficit by $346M, to less than half of spring projection

Hydro 'windfall' helps Manitoba shrink deficit by $346M, to less than half of spring projection

The unpredictable fluctuations of Manitoba Hydro's finances was a drain on Manitoba's books last year — but now appears to be benefiting the province to the tune of hundreds of millions of dollars. The government's finance officials are now projecting Hydro's revenues at the end of the fiscal year will jump from the initial $120 million forecast to an estimated $585 million, which it attributes to higher water levels and increased export prices.