The utility said that its hydro generation in British Columbia had decreased by 14% in the 12 months compared to the previous fiscal year.

Less hydro output resulted in BC Hydro having to purchase more expensive power from the market. Energy costs increased 12.3% to Can$2393M (US$2177M) compared to the previous period.

BC Hydro added, however, that it was the economic impact on the forestry sector of lower pulp and paper activities that hurt domestic revenues most. Revenues were down 4.4% to Can$2814M (US$2560M).