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Manitoba Hydro blames $157M loss on drought across Lake Winnipeg basin

Crown corporation posts second loss in three years

CBC NewsBartley Kives

Manitoba Hydro lost $157 million during its most recent fiscal year, thanks to drought conditions that plagued the Lake Winnipeg basin during much of 2023.

The Crown corporation's loss for the 2023-24 fiscal year, disclosed Tuesday in an annual report, represents a $795-million reversal of fortune from the previous fiscal year, which saw Hydro post a net income of $638 million.

Hydro blames the negative financial results on dry conditions across western Canada that led to low water levels on Lakeā€¦

Continued...

Read the full story on the CBC website

Manitoba Hydro blames $157M loss on drought across Lake Winnipeg basin

SOURCE www.cbc.ca

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https://winnipeg.lokol.me/s/manitoba-hydro-blames-s157m-loss-on-drought-across-lake-winnipeg-basin-34037-9916258
CBC NewsBartley Kives, Posted: Oct 02, 2024 6:00 AM EDT | Last Updated: 3 minutes ago
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