Quebec’s public power-generation utility said its net income fell to $3.3 billion in 2023, down from $4.6 billion the year before. Electricity sales decreased by just over seven per cent, to 200.3 terawatt-hours. (The Logic)
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Quebec’s public power-generation utility said its net income fell to $3.3 billion in 2023, down from $4.6 billion the year before. Electricity sales decreased by just over seven per cent, to 200.3 terawatt-hours. (The Logic)
Talking point: Hydro-Québec also revealed that its contribution to the Quebec government’s revenue declined nearly 22 per cent to $4.7 billion, in the same time period, suggesting an impact on provincial finances. Hydro-Québec president and CEO Michael Sabia said a decrease in snow and rain in northern Quebec, home to most of the utility’s power-generating infrastructure, was to blame for the decrease. Sabia said the utility has enough energy to meet demand in Quebec and beyond. As part of its previously announced $185-billion action plan, Hydro-Québec will add as much as 9,000 megawatts of capacity to its grid by 2035.
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