Notes to the Consolidated Financial Statements (unaudited)
During the period, the Corporation issued $75 million in long-term debt at a discount of $1 million and a coupon rate of 4.4 per cent, maturing in 2056. The Corporation also repaid $75 million in long-term debt that matured in May 2025.
9.
Commitments
As at June 30, 2025, the Corporation had $195 million (March 31, 2025 - $170 million) of outstanding contractual commitments for the procurement of goods and services in the future.
The Corporation entered into commodity contracts for the physical purchase of natural gas that qualify as own-use contracts. As at June 30, 2025, own-use natural gas derivative instruments had the following notional values and maturities:
(millions)
2026
2027
2028
2029
2030 Thereafter
OWN-USE PHYSICAL NATURAL GAS CONTRACTS
Notional value
$
71
$
94
$
93
$
111
$
87
$
162
Notional value - estimated undiscounted cash outflow
10.
Unrealized Market Value Adjustments
For the Three Months Ended June 30,
(millions)
2025
2024
Change in fair value of natural gas derivative instruments Change in revaluation of natural gas in storage to net realizable value
$
(6)
$
(3) (1) (4)
-
(6) (1) (7)
Change in fair value through OCI
-
$
$
(4)
Unrealized market value adjustments represent the net income impact of measuring certain financial and derivative instruments at fair value subsequent to initial recognition (Note 4) and measuring natural gas in storage at the lower of weighted average cost and net realizable value. These adjustments represent the change in the carrying amount of the related item during the period and are dependent on the market prices and expected delivery dates at the end of the reporting period. Unrealized market value adjustments through OCI represent the income impact of measuring debt retirement funds at fair value subsequent to initial recognition. The adjustment represents the change in the carrying amount of debt retirement funds during the period and is dependent on the market prices of the financial instruments held in the debt retirement funds at the end of the reporting period.
24
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