Newfoundland and Labrador Hydro (Hydro) released its financial results for the third quarter of 2025 today.

Key Highlights:

Hydro’s profit on a year-to-date basis from January to September 2025 was $62 million, a decrease of $274 million compared to profit of $336 million for the same period in 2024.

• In line with the Province’s Rate Mitigation plan, Hydro is mitigating customer rates using its own funds.  Year-to-date rate mitigation funding applied to the end of September was $591 million, which is higher than the $240 million funded in the same period in 2024, and resulted in decreased earnings.
• Year-to-date earnings were positively impacted by higher export electricity prices and an increase in regulatory deferrals due to higher Muskrat Falls power purchases.

Hydro experienced a loss of $8 million for the third quarter which was an improvement of $45 million compared to a loss of $53 million for the same quarter in 2024. The key drivers of the improvement in financial results for the quarter were higher export prices for electricity in Q3 2025 and reduced operating expenses.

Links:

The Quarterly Financial Report can be found here: https://nlhydro.com/2025-third-quarter-financial-results/