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Manitoba Hydro Profits Slightly Dip

February 24, 2009 12:12 PM | News

Manitoba HydroManitoba Hydro profits took a slight dip in 2008, according to the information the company released on Tuesday. Financial results to December 31, 2008, showed a net income of $217 million. In 2007, Hydro reported $220 million in profits.

The decrease was attributed to higher operating, maintenance and depreciation expenses.

Hydro’s net income of $217 million was comprised of a $230 million profit in the electricity sector and a $13 million net loss in the natural gas sector. The loss in the gas sector is seasonal and will be recouped over the remaining months of the winter heating season.