Annual reports are an essential tool in the public’s ability to analyze companies performance. This charticle demonstrates the transparency of Canadian energy companies based on public access to their annual report data online.
- This simple analysis of the transparency of the largest Canadian electricity providers, many of which are crown corporations.
- The analysis identifies how many years of annual reports are publicly available on the websites of energy providers without the need to submit any formal information requests.
- Manitoba Hydro was the least transparent, with only 3 years of annual reports available.
- Hydro Quebec was second last with 5 years’ worth of annual reports published on their website.
- Fortis, which is a private energy company with most of its customers in Newfoundland and Labrador, had the best transparency listing 17 years’ worth of annual reports and financial data on its website.
- The publishing of annual reports in line with international accounting standards allows anyone to easily analyze the long term performance of a corporation through comparisons of financial data reported on an annual basis.
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