Hydro One reports second-quarter profit of $255 million, revenue increases

This transmission and distribution company has approximately 1.5 million customers.

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Canadian Press

Hydro One Ltd. has 255 million common shareholders. million, up from $238 million a year ago.

Power companies reported earnings of 43 cents per share in the quarter ended June 30, up from 40 cents in the same quarter last year.

According to Hydro One, the increase in earnings per share for the quarter was primarily due to higher authorized rates and demand in the transmission and distribution Partially offset by higher expenses and higher funding. I will charge

Quarterly revenue after purchased power increased to $988 million from $884 million a year ago.

The company announced a quarterly dividend of approximately 28 cents per share on September 29th.

Hydro One is Ontario's largest power transmission and distribution company, serving approximately 1.5 million customers.

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