Financial Highlights

Three Months Ended March 31,
($ in thousands except per share amounts) 2022 2021
Revenue 36,147 30,030
Net income 16,868 26,426
Earnings per share – basic 0.34 0.53
Earnings per share – diluted 0.28 0.43
Adjusted EBITDA(1) 15,893 9,423
Total generation – (MWh) 393,591 324,490
Total fuel consumption – (GJ) 4,179,531 3,597,341
Average Alberta market power price ($ per MWh) 89.80 95.45
Average realized power price ($ per MWh) 91.84 92.54
Total net debt (1) 41,236 37,242
Total assets 364,569 262,384

(1) Select financial information was derived from the consolidated financial statements and is prepared in accordance with GAAP, except adjusted Earnings before Interest, Income Taxes, Depreciation and Amortization (“Adjusted EBITDA”). Adjusted EBITDA is provided to assist management and investors in determining the Corporation’s approximate operating cash flows before interest, income taxes, and depreciation and amortization and certain other other non-recurring income and expenses. Total net debt was derived from the consolidated financial statements to include: loans and borrowings (including the convertible loan facility), current liabilities, other long-term liability, less total current assets.

Quarterly Reports

2022 Q1
2021 Q1 Q2 Q3
2020 Q1 Q2 Q3