TORONTO - Ontario Power Generation Inc. had a $259-million profit in its latest quarter, although the provincial Crown corporation continued to feel the impact of reduced demand for electricity.
The profit for the three months ended Sept. 30 were an improvement on the $142-million net loss for the same period of 2008.
However, OPG said the profit was due mainly to its investments, while its operations were hit by reduced demand for electricity and lower margins.
OPG's revenue fell to $1.3 billion, down nearly $200 million from the third quarter of 2008.
