OPG reports $333-million third-quarter profits
Posted Nov 19, 2010 01:23:35 PM.
This article is more than 5 years old.
The Ontario Power Generation reported Friday that its third-quarter profit increased to $333 million, helped by higher electricity prices.
In 2009, the OPG profit was $259 million for the same quarter last year.
The company’s chief executive Tom Mitchell said during the third quarter, OPG met a number of key milestones as the company continues to move towards a cleaner energy mix.
He also said he is proud that the company and its employees met the challenges of a hot summer and helped keep the lights on.
Mitchell noted that on October 1, two coal-fired units at OPG’s Nanticoke generating station were closed and two units were closed at its Lambton generating station, saving ratepayers about $200 million over the next four years.
