Economy
Mercury: Hydro back in the black …
MERCURY
HYDRO Tasmania has turned last year’s $58 million operating loss into a $38 million net profit. Releasing preliminary results for the 2008-09 financial year, Hydro chairman David Crean said the result came despite continued below-average inflows into Hydro storages. The government business enterprise will return $9.8 million to state coffers in fee payments and a dividend for the first time in two years. The state imported 2600GWh of electricity over the Basslink interconnector last financial year as Hydro focused on rebuilding local storages to provide power on a sustainable basis, Dr Crean said. Read more here