Financials

financial Highlights

Three Months Ended September 30, Nine Months Ended September 30,
($ in thousands except per share amounts) 2021 2020 2021 2020
Revenue 44,224 17,726 118,596 29,444
Adjusted EBITDA(1) 20,639 5,698 51,503 6,304
Net income 18,092 498 74,107 337
Earnings per share – basic 0.36 0.01 1.49 0.01
Earnings per share – diluted 0.30 0.01 1.21 0.01
Total generation – (MWh)(2) 418,511 349,756 1,132,102 499,558
Average Alberta market power price ($ per MWh) 100.33 43.83 100.12 46.91
Average realized power price ($ per MWh)(2) 105.67 50.68 104.76 58.94
Total net debt (3) 14,201 67,269 14,201 67,269
Total assets 296,604 235,915 296,604 235,915

(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.

(2) Total generation and average realized power prices for 2021 relate to Milner 2 (“M2”) and 2020 relate to both M2 and HR Milner (“Milner”)

(3) 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

2021 Q1 Q2 Q3
2020 Q1 Q2 Q3
2019 Q1 Q2 Q3

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