OPG PROFITS FALL

Aug 24, 2012

By Bob Sheppard

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Ontario Power Generation’s second-quarter profit fell 61 per cent from the same time last year to $43 million,

The provincially-owned utility says that the 66-million-dollar drop was primarily due to lower earnings at a fund set up to pay for nuclear waste removal and management.

O-P-G also says its unregulated hydroelectric stations received lower prices for their electricity on spot markets.

In addition, hydroelectric output was reduced due to low water levels in the Ottawa and northwestern Ontario river systems.

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