Manitoba Hydro reported a net loss of $446 million in its 2025-2026 fiscal year, $383 million more than the previous year, while its total debt rose to nearly $27 billion
The Crown corporation released its annual report on Sept. 29. The report said the loss was primarily caused by severe drought conditions, which reduced hydroelectric generation and required Manitoba Hydro to import larger volumes of power at higher market prices to meet customer demand.
The report indicated that consolidated fuel and purchased-power expenses increased to $529 million from $240 million. It also noted that the utility faced roughly $52 million in wildfire-related operating and capital costs during one of the province’s most severe wildfire seasons to date….