Hydro‑Québec’s first-quarter net income up $130 million, for an increase of 8%
Hydro-Québec posted net income of $1,774 million for the first quarter of 2019, an increase of $130 million compared to $1,644 million in the same period in 2018.
On markets outside Québec, Hydro‑Québec Production’s net electricity exports rose by $29 million under the combined effect of volume growth of 0.2 TWh compared to the first quarter last year, and the higher average price obtained. On the Québec market, electricity supplies provided by Hydro‑Québec Production to Hydro‑Québec Distribution increased by $107 million over the corresponding period in 2018. This growth is due to a higher volume of electricity sales.
Markets outside Québec
High volume of net electricity exports: 10.0 TWh
Volume comparable to the 10.1-TWh record set in the first quarter of 2017
Increase in the average export price obtained (5.1¢/kWh)
Increase in baseload demand (excluding the impact of temperatures) across all customer segments
Temperatures colder in 2019 than in 2018
$15-million decrease compared to the first quarter of 2018
Careful management of expenses, making it possible to completely absorb the impact of inflation and salary indexing
First major financing of 2019
Issuance of fixed-rate bonds maturing in 2055, at a cost of 3.02%