ENMAX Corp. on March 15 reported full-year 2017 adjusted EBITDA of C$412.8 million, from C$465.3 million in 2016.
The company reported a net loss of C$30.3 million for the twelve months that ended Dec. 31, 2017, compared to net earnings of C$104.6 million in 2016.
The company attributed the drop in results to the expected negative impacts to the competitive business from continuing market weakness, partially offset by growth from segments other than power generation.
"In 2017, we achieved solid earnings from our regulated Power Delivery business as a result of continued capital investment and load growth as compared to 2016," ENMAX President and CEO Gianna Manes said in a statement.
The company will pay a C$40 million dividend in 2018 to its shareholder, Calgary, Alberta.
