Tuesday, August 8, 2017

Hydro One Revenue/Profit fall as milder weather cuts peak-price demand

As I've been mentioning, repeatedly. It's been consistently cooler here in my neck of the woods.
This has been the case for years now. Gone are the weeks of  heat warnings we used to have in the 80's and '90's. We have not had one day, thus far, of extreme heat never mind regular heat. Toronto had a day or two of  heat alerts in June 2017. No "extreme" alerts.

Toronto is a giant heat magnet... And Toronto records it's daily temp, for one, at Pearson International Airport - A giant paved hell hole.

Hydro One is announcing reduced profits due to milder weather. Peak demand reduced.

Peak demand is when we pay the most extravagant electricity rates imaginable.
I've reported on the extreme high cost of electricity in this province and the hardship it's causing on the populace of Ontario.
Hydro One Ltd. reported a lower second-quarter profit as revenue fell compared with a year ago, reflecting the impact of milder weather and a delay in a rate decision.

The owner of Ontario’s largest electricity distribution system says milder weather during the quarter ended June 30 resulted in less demand during peak pricing periods.

Revenue fell 11.3 per cent to $1.37-billion while revenue excluding purchased power slipped 2.8 per cent to $722-million.

Net income for the Hydro One shareholders dropped to $117-million, or 20 cents per diluted share, compared with $152-million or 25 cents per diluted share a year ago.
Hydro One almost certainly sold off any excess electricity at dirt cheap rates to surrounding purchasers, including in the US. As they gouge those of us resident in Ontario.

    From Earlier 

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