EDMONTON — Capital Power Corp. says its profit fell during the first quarter of 2025 as revenues and other income decreased.
The Edmonton-based electricity producer says its net income attributable to shareholders was $151 million during the quarter ended March 31, or $1.03 per diluted share.
That compared with a profit of $205 million or $1.57 per diluted share during the same period a year ago.
Revenues and other income for the quarter decreased to $988 million from $1.12 billion during the first quarter of 2024.
The company highlighted a $3 billion agreement it struck during the quarter to acquire two natural gas-fired power generation facilities located in the Pennsylvania-New Jersey-Maryland Interconnection market.
Chief executive Avik Dey says the deal "supports our thesis that natural gas-fired assets are critical to reliability, provide opportunity for growth and creation of shareholder value in various market conditions."
This report by The Canadian Press was first published April 30, 2025.
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