Hydro-Québec securities: A wise, sustainable choice

Hydro-Québec is a major generator, transmission provider and distributor of electricity in Canada, focusing mainly on hydroelectricity. To develop, improve and maintain its facilities and reimburse maturing debts, the company issues securities which are guaranteed by the Québec government, its sole shareholder.

Key Assets1

Over 99% of power generated from renewables

Large reservoirs with a storage capacity of178.9 TWh

Installed capacity of 37,248 MW

Average cost per kWh generated of 1.93¢ in 20212

Return on equity 14.3%

Total assets of $83 billion

Average term of debt 22 years

Credit Ratings1

Rating agencies Long-term debt Commercial paper Outlook/Trend
Moody’s Aa2 P-1 Stable
S&P Global Ratings AA- A-1+ N/A*
Fitch Ratings AA- F1+ Stable
DBRS Morningstar AA (low) R-1 (middle) Stable

* S&P Global Ratings does not provide an outlook for Hydro-Québec’s credit rating.

Learn more about Hydro-Québec’s credit ratings

Results and Outlook3

Investments totaled $4.2 billion in 2021.

Eight fixed-rate bond issues were made in 2021 on the Canadian capital market, at an average cost of 2.72%. The bonds will mature in 2060. These issues raised a total of $3.4 billion.

Net income

($B)

Le bénéfice net pour l'année 2020 est de 2,3 milliards de dollars Canadiens, et la prévision pour l'année 2021 est de 2,7 milliards de dollars Canadiens

Investments in property, plant and equipment and intangible assets

($B)

l'investissements en immobilisations corporelles et en actifs incorporels s'élèvent à 3,3 milliards de dollars Canadiens en 2020, et la prévision pour 2021 est de 3,5 milliards de dollars canadien.

Financing activities4

($B)

Les activités de financement pour l'année 2020 est de 4,6 milliards de dollarsCanadiens, et la prévision pour l'année 2021 est de 3,5 milliards de dollars Canadiens

View the five-year review of consolidated financial information [PDF 4 MB]

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  1. As at December 31, 2021.
  2. Sum of generating, procurement and sales costs, divided by net sales volume.
  3. Forecast data is supplied for 2022.
  4. Gross borrowings.

How can we help you?

For questions regarding Hydro-Québec’s financing, view our FAQ or contact the Investor Relations team

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Terms and conditions of disclosure

The content of this site is intended for general information purposes only and should not be construed as an offer to sell or a solicitation of offers to purchase securities.

It has not been approved by any regulatory body and is not sufficient for the purpose of deciding to purchase securities. The information, when released, was considered reliable as of that date.

However, errors or omissions may have resulted from electronic conversion, downloading or unauthorized modifications. No warranty is being made by Hydro‑Québec as to the accuracy or completeness of the information provided on this site. Users from outside the Province of Québec are sole responsible for complying with their national, provincial or state laws and regulations.

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