The City of Hamilton’s methane to electricity corporation is reporting it lost $392,502 in 2024, a decrease from a loss of $455,583, with no line-of-sight to profitably.
Hamilton Renewable Power Inc. inflation-indexed revenue decreased in 2024. The municipal corporation decreased its spending, which is why its total loss is lower.
The corporation has lost $187,027 during the first five months of 2025.
City Staff Say Hamilton is Gaining Due to Payments by Company to Hamilton Water
“Although dividends have not been paid in the last four years, the City continues to receive benefits in terms of salary recovery and payment for methane (approximately $781,000 in 2024),” reads an unattributed statement included in a staff report to councillors.
City of Hamilton Senior Project Manager Yanni Simatis (who carries the title of Senior Vice-President HRP Inc.) told councllors that “our top priorities are to return both Woodward and Glanbrook to profitability.”
“This involves addressing infrastructure needs, improving reliability and positioning both sites to generate revenue and support long-term sustainability.”
The City has hired consultants to review the waste gas to energy projects with direction to create a plan for profitability.
Council Will Need to Decide Corporation’s Future in 2026
No major decisions were made during this month’s meeting.
However, with the continuing losses, City Council will need to decide the future of this municipal corporation.
“If we’re talking about making a decision, the decision would probably be in early 2026,” stated Ward 4 Councillor Tammy Hwang.
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Published: July 23, 2025
Last updated: July 23, 2025
Author: Joey Coleman
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