Ontario Power says Darlington project on track, income lower from shutdown

OPG’s head office in downtown Toronto (Photo by Aardvark114 at English Wikipedia – Transferred from en.wikipedia to Commons., Public Domain)

TORONTO — Ontario Power Generation says that its multibillion-dollar Darlington refurbishment is on time and on budget one year into the project.

The crown corporation says in its quarterly results that about $4.1 billion of the $12.8 billion budgeted for the refurbishment had been spent as of Sept. 30.

The power generator’s net income came in at 0 million for the third quarter, down from the 8 million in the same quarter last year.

The company says the decrease was due to the Darlington units being taken off-line, and because its application to the Ontario Energy Board for an adjusted rate has not yet been approved.

Ontario Power says revenues were $1.2 billion in the third quarter, down from .

4 billion in the same quarter last year for the same reasons.

The company’s total power generation for the quarter was 19.4 terawatt hours, compared with 19.

5 terawatt hours for the same quarter last year due to the lower generation at Darlington, partially offset by higher production at its Pickering operation.