POLITICS
11/10/2011 12:05 EST | Updated 01/10/2012 05:12 EST

N.B. Power reports earnings of $86 million over first two quarters

FREDERICTON - New Brunswick's Crown-owned power utility is posting improved earnings for the second straight quarter.

NB Power recorded net earnings for the six-month period ending Sept. 30 of $86 million as compared to just $4 million for the same period last year.

The utility credits the improvement to reduced administration costs and better than expected hydro generation.

NB Power president Gaetan Thomas says employees continue efforts to reduce costs and improve efficiencies.

He says there has been a $17 million decrease in operating and maintenance expenses compared to last year.

The utility has a $4.45 billion debt.