TORONTO - Hydro One had a 34 per cent decline in fourth-quarter profit, suffering the impact of unusually warm weather and multiple wind storms that occurred about the same time as the utility's debut on the Toronto Stock Exchange.

The electricity transmission and distribution utility's profit in the last three months of 2015 was $143 million, down from $216 million in the fourth quarter of 2014 when Hydro One was fully owned by Ontario's provincial government.

Its net income amounted to 26 cents per share, or 24 cents per share after adjustments in the fourth quarter of 2015, down from 45 cents and 36 cents respectively in the fourth quarter of 2014

Revenue fell by $140 million to $15.2 billion, down 8.4 per cent from the fourth quarter of 2014.

Hydro One says unseasonably warm weather in the fourth quarter contributed to the lower revenue due to less demand at peak times. Its expenses were also affected by multiple wind storms that necessitated repairs and other expenses.

"While the fourth quarter's results reflect a number of ... unusual and unseasonal weather-related items, Hydro One is at its core a strong and growing business," said Mayo Schmidt, president and CEO of Hydro One.