Epcor suffers first loss in years

Epcor, Edmonton’s city owned power company, has recorded a net loss of $56 million in the third quarter of 2009. The loss is being attributed to the sale of 25% of Epcor’s power generating assets to the publicly traded company Capital Power.

Epcor says it was anticipating the loss and that the company is moving away from power generation to water and waste water management. Epcor also claims the loss will not affect Edmonton consumers.

In 2008 the company recorded a record net income of $76 million.