Manitoba Hydro reported consolidated net income of $114 million for the fiscal year ended March 30, 2015, down $60 million from 2014. In its annual report, released Aug. 25, the utility attributed the decrease to increased financing expenses arising from additional long-term debt accumulated to finance capital expenditures. "Manitoba Hydro is making the investments necessary to maintain the reliable supply of energy our customers depend on - replacing aging assets, addressing capacity constraints and developing new sources of electricity," said Scott Thomson, president and chief executive officer at the time the report was released. "We need to invest $17 billion over the next decade."The utility invested nearly $2 billion in 2014-2015 to build and maintain its energy system. Manitoba Hydro's consolidated net income was $104 million in the electricity sector and $10 million in the natural gas sector. Overall revenue was $2.05 billion, a decrease of $14 million, due to lower export electricity sales arising from a U.S. transmission line outage and lower market prices.
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