Manitoba Hydro is reporting a 446-million-dollar net loss for its latest fiscal year, with severe drought driving up the cost of keeping electricity flowing.

The utility says low water levels reduced hydroelectric generation, forcing it to import more power at higher prices to meet demand.

It was the fourth year of low water conditions in the past five years. Hydro also faced roughly 52 million dollars in wildfire-related costs.

Despite those pressures, work continued on energy projects, including an electric vehicle charging corridor between Winnipeg and Thompson.

Hydro plans to invest nearly 17 billion dollars in its infrastructure over the next decade.