Hydro-Québec continued to grow in 2002. Consolidated net income rose to $1.5 billion, an increase of $418 million over the reported net income for 2001. The growth in net income stems largely from Hydro-Québec’s transactions on external markets and from careful management of our financial expenses at a time when interest rates are low. Electricity demand in Québec has also risen, especially among industrial customers, particularly in the pulp and paper industry. Download the complete document Annual Report 2002 [PDF—1.6 MB]

Contents

• Financial Highlights
• Corporate Profile / Summary
• Message from the Chairman of the Board
  and the President and Chief Executive Officer
  Download pages 01 to 07 [PDF—161 KB]
  

Review of Operations

• Hydro-Québec Distribution
• Hydro-Québec TransÉnergie
• Hydro-Québec Production
• Hydro-Québec Équipement
• Société d'énergie de la Baie James
• Hydro-Québec Pétrole et gaz
• Research and Strategic Planning
• Human Resources and Shared Services
• Environment
• Community Involvement
• International Role
  Download pages 08 to 52 [PDF—882 KB]

Financial Review

• Management's Discussion and Analysis
• Consolidated Financial Statements
  In Excel format [XLS—134 KB]
• Supplementary Information
  Download pages 53 to 101 [PDF—318 KB]
  

Corporate Administration

• Corporate Management
• Board of Directors
• Corporate Governance
• Language Guidelines
• Report of Activities of the Board of Directors and Board Committees
  Download pages 102 to 109 [PDF—126 KB]

• Code of Ethics and Rules of Professional Conduct
  for Directors and Executives of Hydro-Québec
• Generating Facilities
• Major Facilities
  Download pages 110 to 118 [PDF—242 KB]