export revenue

Drought lowers river levels to the point where Manitoba Hydro expects $200M deficit

Drought lowers river levels to the point where Manitoba Hydro expects $200M deficit

The extreme drought across the Canadian Prairies over the past year is expected to leave Manitoba Hydro with a deficit in the $200-million range for the current fiscal year. The Crown corporation disclosed low river levels will deprive the utility of about $400 million in export revenue over the coming months. This will leave Manitoba Hydro with a deficit between $190 million and $200 million for the 2021-22 fiscal year, the corporation disclosed after publishing its second-quarter financial report.