Fourth Quarter profits for Hydro One hit $143 million according to the utility which recently began trading its stock publicly.
Net income came in at 26 cents per share, down substantially from last year when Hydro One was fully owned by Ontario’s provincial government.
The overall profit was nearly 34 per cent lower than the $216 million recorded in the fourth quarter of 2014.
The utility chalks up the losses to unseasonably warm weather in the fourth quarter, resulting in much less demand at peak times.
Revenue fell by $140 million or 8.4 per cent to $15.2 billion, down 8.4 per cent from the fourth quarter of 2014.