Hydro workers perform maintenance on power lines in Renfrew County, Ont. THE CANADIAN PRESS/Sean Kilpatrick
Ontario’s largest electricity provider is reporting an increase in second-quarter profit.
Hydro One says net income for the quarter was 292-million-dollars, up from a profit of 265-million a year ago.
The utility also says quarterly revenue reached more than 2-billion dollars, up from 1.86-billion a year earlier.
Hydro One says the increase was mainly driven by higher revenues coming from 2024 rates approved by the Ontario Energy Board along with higher average monthly peak demand.
Hydro One is Ontario’s largest electricity transmission and distribution provider with about 1.5 million customers.
The Canadian Press