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.
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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.
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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.”
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