The Manitoba Hydro-Electric Board Quarterly Report

by ahnationtalk on November 24, 202340 Views

REPORT FROM THE CHAIR OF THE BOARD AND BY THE PRESIDENT AND CHIEF EXECUTIVE OFFICER

Financial Overview

Consolidated net loss attributable to Manitoba Hydro was $9 million for the first six months of 2023-24 compared to net income of $233 million for the same period last year. The decrease in net income from the prior year was primarily attributable to the impacts of lower net exports, impacts related to the Public Utilities Board’s (PUB) order issued on August 24, 2023 with respect to Manitoba Hydro’s Electric General Rate Application which resulted in the write-off of terminal losses associated with the Selkirk Generating Station, lower domestic electric revenue as well as an increase in operating and administrative costs.

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