On a year-to-date basis, Hydro's profit is $543 million, an increase of $506 million over the same period last year.
Newfoundland and Labrador Hydro is reporting $180 million profit in the third quarter of 2022. File photoST. JOHN'S, N.L. — Newfoundland and Labrador Hydro is reporting an increase in profits for the third quarter of 2022 compared with the same period last year.
On a year-to-date basis, Hydro's profit is $543 million, an increase of $506 million over the same period last year. The non-cash transactions affecting Hydros bottom line include Muskrat Falls assets coming online and the Hibernia Southern Extension redetermination. In 2022, due to the rebound of oil and gas prices, $118 million of the write-down was reversed, and the oil and gas assets increased in value.
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