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Manitoba Hydro: same rates, bigger profits

Manitoba Hydro of Winnipeg, Canada, has reported an income from its electricity and gas operations of $150M for the nine months ended 31 December 2000, a $75M increase on the same period last year.

The company attributes the rise in income to increased revenues from out-of-province electricity sales. These had increased by 27% during the period, to $367M.

Commenting on the report, president and CEO Bob Brennan said that the quarter marked the tenth consecutive year that the company’s rates had not increased. ‘This is an achievement we are very proud of, particularly because it is such a contrast to what we’ve seen in other jurisdictions,’ he added.