The public utility said a 50 per cent decrease in water volume flowing through its dams bit into its roughly $1.8-billion net income for the first six months of the year. Hydro-Québec customers also consumed less electricity in the first quarter of 2024 due to mild temperatures. (The Logic)
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The public utility said a 50 per cent decrease in water volume flowing through its dams bit into its roughly $1.8-billion net income for the first six months of the year. Hydro-Québec customers also consumed less electricity in the first quarter of 2024 due to mild temperatures. (The Logic)
Talking point: In February, Hydro-Québec president and CEO Michael Sabia said a decrease in snow and rain in northern Quebec, where most of the utility’s power-generating infrastructure is located, was behind the decreased output. The utility has invested over $2.6 billion in six months, mostly in generation, transmission and distribution asset sustainment—part of its $185-billion plan to add as much as 9,000 megawatts of capacity to its grid by 2035.
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