Nalcor recorded a loss of $171 million in the first quarter of 2020, due in part to falling oil prices during the COVID-19 pandemic.

Nalcor Energy released its financial statements for 2019 and the first quarter of 2020 during its AGM yesterday, which was held in a virtual format.

The loss in the first quarter compares to a $92 million profit in the same period last year. The company says it was caused by lower profits from electricity sales and oil prices affected by the pandemic and other global events.

https://twitter.com/NalcorEnergy/status/1277957562445553664

Meanwhile, the four-month COVID delay could add 2-6 months and $200-400 million dollars to the over-run but those are rough estimates from the corporation.

Full commissioning of power is not expected for about another year.