Manitoba Hydro income down by $136M since last year
Crown corporation blames warmer weather, increased expenses for lower net income
Manitoba Hydro says warmer winter weather is partly to blame for a $136 million dip in its net income for the 2015- 2016 fiscal year.
Hydro reported the numbers in its annual report released on Friday and said the decrease in income is due to an increase in expenses related to capital investments and lower revenues caused by milder winter temperatures.
The corporation's overall revenue was $2.26 billion, a decrease of $58 million compared to the previous fiscal year.