NLHydro reports 2022 profit of $580 million.

    Thursday, 29 June 2023 12:01

    By Tonya Organ

    President and CEO Jennifer Williams says last year, close to 92 percent of electricity generated in the Province was from net zero energy sources.

    Newfoundland and Labrador Hydro posted a profit of $580 million in 2022, an increase of $508 million over 2021. Contributing to its positive financial position was $112 million from energy trading—profit from sales of excess energy to other jurisdictions. President and CEO Jennifer Williams says we are getting close to meeting targets of net zero emissions by 2050. She says last year, close to 92 percent of electricity generated in the Province was from net zero energy sources. Williams says people are becoming less dependent on oil and gas. Williams says in addition, usage of Hydro’s EV fast-charging stations increased almost three-fold and more than 1,400 homes were converted from oil to electric heat through a rebate program. NLHydro presented its 2022 and 2023 first quarter results during its Annual General Meeting this morning in St. John’s. 

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Sunny intervals

      High: 26°C | Low: 11°C

    • Deer Lake

      Sunny intervals

      High: 25°C | Low: 12°C

    • Stephenville

      Sunny

      High: 25°C | Low: 14°C

    Recently Played

    Podcasts

    • Trash Talk

      Trash Talk Thursday, August 6, 2026

      Lynn Howse from Western Regional Waste Management joins Lenny on Bay Fm to talk trash

    • CB Nuit 2026

      CB Nuit 2026

      CB Nuit Art Festival is celebrating its 10th Anniversary in the heart of Corner Brook on downtown's West Street!

    • NL Summer Games 2026

      Blaze's Corner, Thursday August 6, 2026

      We are just about here. The NL Summer Games Opening Ceremonies is Saturday night at the Corner Brook Civic Centre