WOW ! Power Revenues GREATER Than Energy (NG) Costs In Q3- FIRST TIME I EVER SEE this happen at MEG Energy !
Power revenue exceeded energy operating costs in the third quarter of 2023 generating a $0.04 per barrel net recovery relative to a $0.96 per barrel expense in the comparable 2022 period. Weaker natural gas prices reduced energy operating costs more than the offsetting impact of a lower realized price on power revenue. Power revenue offset 101% and 84% of energy operating costs in the third quarters of 2023 and 2022, respectively.
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