2024
In accordance with the priorities set out in the Action Plan 2035, Hydro‑Québec has significantly increased the investments in capital assets, reaching $6.0 billion, an increase of $1.1 billion over the previous year.
The company carried out a number of fixed-rate issues on the Canadian capital market: an issue of medium-term notes maturing in 2029, totaling $0.6 billion, at an average cost of 3.96%, and bond issues maturing in 2063 and 2065, totaling $5.2 billion, at an average cost of 4.29%. These issues raised $5.8 billion.
2023
Launch of the Action Plan 2035 — Towards a Decarbonized and Prosperous Québec, which revolves around two main pillars: customer service and the energy and economic transition.
In a context of low runoff and with a view to optimum management of resources, Hydro‑Québec reduced its exports to external markets, reaching 23.0 TWh and contributing $2,365 million to revenue.
The company carried out seven fixed-rate issues on the Canadian capital market: three medium-term note issues maturing in 2029, totaling $1.8 billion, at an average cost of 3.87%, and four bond issues maturing in 2063, totaling $1.9 billion, at an average cost of 4.27%. These issues raised $3.7 billion.
2022
Electricity exports exceeded 35 TWh for a second consecutive year and contributed $2,912 million to revenue.
For the first time, Hydro‑Québec’s contribution to the Québec government’s revenue reached $6 billion.
The company carried out a number of fixed‑rate issues on the Canadian capital market: $2.3 billion in medium‑term notes maturing in 2028, at an average cost of 3.15%, and $2.7 billion in bonds maturing in 2060 and 2063, at an average cost of 3.95%. These issues raised $5.0 billion.
2021
Net electricity exports reached 35.6 TWh and contributed $865 million to net income.
The company made eight fixed‑rate bond issues maturing in 2060 on the Canadian capital market, at an average cost of 2.72%. These issues raised $3.4 billion.
2020
Despite the public health crisis, net electricity exports exceeded the 30-TWh mark for a fifth consecutive year, reaching 31.3 TWh and contributing $537 million to net income.
Issue of a new series of bonds (Series JR) with a value of $500 million, maturing in 2060.
2019
Net electricity exports reached 33.7 TWh and contributed $631 million to net income.
For a seventh consecutive year, Hydro-Québec’s contribution to the Québec government’s revenue exceeded $4 billion.
The company made five fixed-rate bond issues maturing in 2055 on the Canadian capital market, at an average cost of 2.58%. These issues raised $3.3 billion.
2018
Net electricity exports reached 36.1 TWh and contributed $744 million to net income.
For a sixth consecutive year, Hydro‑Québec’s contribution to the Québec government’s revenue exceeded $4 billion.
The company made three bond issues maturing in 2055 on the Canadian capital market, at an average cost of 3.06%. These issues raised $1.8 billion.
2017
Net electricity exports reached a historic volume of 34.4 TWh and contributed $780 million to net income.
At the Romaine hydroelectric complex, Hydro‑Québec commissioned the two units at Romaine‑3 generating station (395 MW).
The company made two bond issues maturing in 2055 on the Canadian capital market, at an average cost of 3.20%. These issues raised $1.2 billion.
2016
Launch of Hydro‑Québec’s Strategic Plan 2016–2020, which places customers at the heart of its priorities and sets new growth avenues for the company, including the acquisition of assets or stakes outside Québec.
Net electricity exports reached a historic high of 32.6 TWh, contributing $803 million to net income.
Issuance of $1.0 billion in fixed‑rate medium‑term notes at a cost of 1.1%, as well as variable-rate notes for a total amount of $1.0 billion. Both series will mature in 2019.
2015
Commissioning of both units at Romaine‑1 hydroelectric generating station (270 MW). The entire development was completed eight months ahead of schedule.
Net income of $3,147 million, exceeding the $3‑billion mark for a second consecutive year.
No public financing activities in 2015: the depreciation of the Canadian dollar led to net cash receipts of $1.8 billion under credit risk mitigation agreements.
2014
Commissioning of both units at Romaine‑2 generating station (640 MW).
result of $3,380 million, exceeding the $3‑billion mark.
Issue of a new series of bonds (Series JQ) with a value of $500 million, maturing in 2055.
2013
Commissioning of the Sarcelle powerhouse (150 MW), the last component of the Eastmain‑1‑A/Sarcelle/Rupert project (918 MW).
Rehabilitation of the first unit at Robert‑Bourassa, the most powerful facility in Hydro‑Québec's generating fleet. The project involves the rehabilitation of 8 of the generating station's 16 generating units—including the replacement of their runners—and the replacement of electrical and mechanical equipment on all 16 units. This will lead to an energy performance increase of more than 2%.
Two debenture issues of $500 million each maturing in 2050, which brings the total nominal value of this series to a record high of C$ 7.0 billion.
2012
Commissioning of Eastmain‑1‑A (768 MW) powerhouse.
Creation of the regional government of Eeyou Istchee James Bay led by a joint council represented by Cree and James Bay residents in equal number.
Shutdown of Gentilly‑2 generating station (1983‑2012; 675 MW), Québec’s sole operating nuclear plant.
US$1.0 billion‑bond issue on the global market.
2011
US$1.0 billion‑bond issue on the global market, a first since 2001.
2010
Signature of a power purchase agreement with Vermont for 225 MW of power, starting in 2012 and continuing through 2038.
2009
Start of construction at the Romaine Complex on the North Shore.
HQD’s third call for tenders for the supply of 500 MW of wind power.
Commissioning of a 1,250 MW interconnection between Québec and Ontario.
2008
Commissioning of Péribonka (405 MW) generating station.
Hydro‑Québec posts net income of C$ 3,141 million, the highest income on record for the company.
2007
Start of construction of the Eastmain‑1‑A/Sarcelle/Rupert project in James Bay (918 MW).
Commissioning of Mercier (50 MW) generating station.
2006
Commissioning of Eastmain‑1 (507 MW) powerhouse.
Sale of nearly all the company’s international assets.
2005
Commissioning of Toulnustouc (526 MW) generating stations.
HQD’s second call for tenders for the supply of 2,000 MW of wind power.
2004
Commissioning of Sainte‑Marguerite‑3 (882 MW) and Rocher‑de‑Grand‑Mère (230 MW) generating stations.
Hydro‑Québec’s net income broke the C$2 billion mark.
2003
Hydro‑Québec Distribution’s first call for tenders for the supply of 1,000 MW of wind power.
2002
Creation of Hydro‑Québec Équipement (HQÉ).
Signature of the « Peace Among Braves » agreement between the Québec government and the Grand Council of the Crees.
From 2002 to 2010, Hydro‑Québec relied mostly on the Canadian market, which offers the most attractive financing costs.
2001
Two new divisions, Hydro‑Québec Production (HQP) and Hydro‑Québec Distribution (HQD) are added to HQT created in 1997.
US$750‑million bond issue on the global market.
2000
Hydro‑Québec’s net income topped the C$1 billion mark.
1997
Opening of the North American wholesale electricity market.
Creation of Hydro‑Québec TransÉnergie (HQT), to provide non‑discriminatory and reliable access to Québec’s transmission grid.
Issue in French francs convertible in Euro, a first by a non-European issuer to explicitly provide for conversion in Euro.
1996
Creation of the Régie de l’énergie du Québec (Energy board), the agency responsible for regulatory supervision of transmission and distribution of electric power.
Commissioning of Laforge‑2 (319 MW), the eighth and last generating station of the La Grande Complex in James Bay.
