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.
Alberta to restructure energy market
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.
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.”
