Manitoba Hydro’s debt load sits at $26.55 billion, according to its latest report. A newly released report from Hydro said the Crown corporation experienced a $446 million loss during the latest fiscal year ending March 31. This brought Hydro’s reported debt load to $26.55 billion. Its total assets are worth $33.09 billion. Hal Turner, who was appointed Hydro’s interim president and CEO in August, said the financial results were “significantly affected by factors largely outside our control” in a media release sent Tuesday evening. Hydro said severe drought conditions were the biggest factor. It saw 65 per cent of its average system inflows during the 2025-26 fiscal year, the lowest inflow since the 2003-04 reporting period when it experienced just 61 per cent of its average inflow. The report said there was a loss of $455 million in the electric segment, and a loss of $2 million in the natural gas segment. “We remained focused on ensuring reliable service for Manitobans and making prudent investments that will strengthen our energy system for decades to come,” said Turner. Meantime, Hydro reported domestic revenue of $2.35 billion and a net export revenue of $569 million, and a net income of $11 million from subsidiaries. Hydro said it spent $52 million on wildfire-related costs in 2025.
