First semester 2023

Hydro‑Québec posts net income of $2.7 billion for the first half of 2023

Hydro‑Québec posted net income of $2,687 million for the first six months of 2023, down $55 million from the historic high of $2,742 million recorded for the same period last year. The risk management strategy implemented by the company has allowed it to benefit from the high forward prices in 2022, bringing about a notable increase in sales outside Québec in 2023. This increase was offset by the combined effect of three main factors: namely, lower electricity sales in Québec due to a milder winter, higher operational expenditure and increased depreciation and amortization expense.