Ontario Power Generation’s second quarter profit fell 61 per cent from the same time in 2011, to $43-million.

The utility – owned by the province – said the $66-million drop was primarily due to lower earning from a fund which was set up to pay for nuclear waste removal and management.

OPG reported its unregulated hydroelectric stations receiving lower prices for their electricity on spot markets.

Moreover, hydroelectric output was reduced due to low water levels in both the Ottawa and northwestern Ontario river systems.