Financial Results


Financial results

Enova's 2023 Financial Results

Enova enjoyed solid financial results throughout its first full year while continuing to invest in the distribution system and integration activities. Energy sales, which are passed through to the Independent Electricity System Operator (IESO), fell due to lower consumption and rates compared to 2022. While distribution revenues were relatively consistent, dividends increased substantially as Enova has committed to higher returns for its shareholders. In 2023, there was also a substantial increase in investments in capital projects as Enova continues grid transformation, supports customer growth, renews assets and integrates systems. This resulted in an overall increase in capital assets, net of depreciation.

Energy Sales

Distribution Revenues

Shareholder dividend

*paid in the period

Capital Assets

Long-term Debt

Investment in Capital Projects

Fault Location, Isolation and Service Restoration Project (FLISR)

FLISR allows SCADA-controllable devices to automatically activate when a fault is detected. This activation automatically reroutes power to restore as many customers as quickly as possible after an outage. Later this year, the system will also monitor the network for sudden loss of voltage and attempt to isolate the cause and reroute power to as many customers affected as possible.

For more information on FLISR and its impact on reducing outage minutes across Enova’s service territory, visit enovapower.com/innovation.