India, May 3 -- TransAlta Corporation (TAC, TA.TO), a Canadian electricity power generator and wholesale marketing firm, on Friday reported a decline in net profit for the first-quarter.
The company said: "TransAlta's first quarter results exceeded our expectations given the anticipated decline in Alberta spot power prices to C$99 per MWh in 2024, as compared to elevated spot power prices of C$142 per MWh in 2023. The 30 per cent decline in spot prices year over year was primarily due to milder weather, lower natural gas prices and incremental generation from the addition of new wind and solar supply in the market."
For the first-quarter, the company posted a net income of C$222 million or C$0.72 per share, lesser than C$294 million or C$...