Business
Great Lakes Hydro Income Fund Reports Third Quarter Results - Significant increase in power generation and revenues
Great Lakes Hydro Income Fund Reports Third Quarter Results - Significant increase in power generation and revenues.
About this update from Brookfield Renewable Partners Lp
[{"type":"text","content":"\n\n\n\n\nSTOCK SYMBOL: GLH.UN/TSX\n\nGATINEAU, QC, Nov. 6 /CNW Telbec/ - Great Lakes Hydro Income Fund\n(GLH.UN: TSX), one of the largest power income funds in North America, today\nreported its financial and operating results for the third quarter and nine\nmonths ended September 30, 2006.\nTotal power generation was significantly higher in both the third quarter\nand the year to date compared with the same periods in 2005. In the quarter,\ntotal power generation increased to 923 GWh from 712 GWh last year, due\nprimarily to heavy rainfalls in Quebec. Revenues increased to $37.7 million\nand income before non-cash items was $14.1 million. These results include a\nfull quarter's contribution from the Carmichael Falls facility in Ontario that\nwas acquired by the Fund in July 2006.\nFor the comparable nine-month periods, total power generation increased\nto 3,183 GWh, revenue to $135.1 million and income before non-cash items to\n$65.3 million, reflecting higher hydrology in all regions. At quarter end,\noverall reservoir levels were in line with the long-term average.\n\n>\n\nForward-Looking Statements\n\nThis news release may contain forward-looking statements concerning the\nGreat Lakes Hydro Income Fund (\"Fund\") business and operations. Forward\nlooking statements can be identified by the use of words, such as \"believe\",\n\"well positioned\", \"long-term\", \"grow\", \"expand\", \"enhance\" or variations of\nsuch words and phrases or state that certain actions, events or results \"will\"\nbe taken, occur or be achieved. Forward looking statements involve\nassumptions, known and unknown risks, uncertainties and other factors which\nmay cause the actual results or performance to be materially different from\nany future results or performance expressed or implied by the forward\nstatements. More details relating to risk factors can be found in the Fund's\nannual information form in the section entitled Risk Factors.\nExamples of such statements include, but are not limited to factors\nrelating to production and the business, financial position, operations and\nprospects for the Fund. They include (1) the Fund's level of generation;\n(2) the Fund's cost of production; (3) interest rates as they bear on the\nFund's indebtedness; (4) planned capital expenditures; (5) the impact of\nchanges in the Canadian dollar - U.S. dollar ...