The NB Power head office in Fredericton. (Image: NB Power/submitted)
NB Power has posted operating earnings of $107 million for the first six months of this fiscal year.
But second-quarter results released Tuesday show net earnings of only $2 million once finance costs are factored in.
It is a slight improvement over this time in 2018, when NB Power was reporting a net loss of $9 million.
The report shows operating earnings are five per cent higher than they were at this time last year, mainly due to higher customer rates and an increase in export sales.
The utility’s net debt has also grown by $88 million over the past six months to just over $5 billion.
NB Power says it is primarily due to significant capital investments for the Point Lepreau and Belledune generating stations.
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