In 2006, net income reached a new record, rising to $3.74 billion. Income from continuing operations amounted to $2.80 billion, up 19% from $2.35 billion in 2005. The sale of almost all of our foreign assets yielded a further $944 million in income from discontinued operations. As a result, we will be able to pay dividends of $2.34 billion — our largest ever — to our shareholder, the Québec government. Download the complete document Annual Report 2006 [PDF—5.6 MB]

Contents

• Hydro-Québec at a Glance
• Message from the Chairman of the Board
• Message from the President and Chief Executive Officer
  Download pages 01 to 07 [PDF—215 KB]
  

Review of Operations

• Hydro-Québec Production
• Hydro-Québec TransÉnergie
• Hydro-Québec Distribution
• Hydro-Québec Équipement
• Sales of Foreign Holdings
• The Strength of Technological Innovation
• Enlightened Corporate Choices for Results That Benefit Everyone
  Download pages 08 to 47 [PDF—1.9 MB]

Financial Review

• Management's Discussion and Analysis
• Consolidated Financial Statements
• Five-Year Review
• Consolidated Results by Quarter
  Download pages 48 to 97 [PDF—275 KB]
  

Corporate Administration

• Corporate Management
• Board of Directors
• Governance
• Activity Report of the Board of Directors and Board Committees
• Code of Ethics and Rules of Professional Conduct for Directors,
  Executives and Controllers of Hydro-Québec
• Generating and Transmission Facilities
• Major Facilities (map)
  Download pages 98 to 110 [PDF—732 KB]