1983

An energy partnership between Hydro-Québec and the New England Power Pool (NEPOOL) gives rise to the construction of an interconnection between southern Québec and northern New Hampshire (Phase I), followed by the construction of the Phase II multiterminal direct-current system (MTDCS), also known as the “Radisson–Sandy Pond line,” or “Phase II line.” Inaugurated in 1990, the Phase II MTDCS spans 1,480 km (920 mi.) from Radisson substation in the Baie-James region of northern Québec, to Sandy Pond substation in Ayer, near Boston.

1995

Creation of HQUS, Hydro-Québec’s U.S. subsidiary.

The U.S. energy market gradually opens up to competition. Previously, U.S. power companies or traders could purchase Hydro-Québec’s output at the border and then resell it in the U.S. Long-term contracts established quantities and prices in advance. Short-term transactions were rare.

1996

The Québec government establishes the Régie de l’énergie, the provincial energy board, in charge of regulating power transmission and distribution.

1997

Opening of wholesale electricity markets in North America.

Hydro-Québec creates Hydro-Québec TransÉnergie, a division dedicated to managing the company’s transmission operations in compliance with the new rules governing the U.S. energy market. Hydro-Québec TransÉnergie makes access to its transmission system open to all stakeholders in the North American market.

The Federal Energy Regulatory Commission (FERC) grants HQUS a wholesaler permit for U.S. markets. This permit allows the subsidiary to work as an energy marketer, which means it can buy electricity from any generator, including Hydro-Québec Production, and then resell it at market prices.

2000

Hydro-Québec sets up an energy trading floor to sell its surplus energy to markets outside Québec.