Message from the President and Chief Executive Officer
Our electricity—more than 99% of which is produced from a clean, renewable source—gives us an undeniable business advantage on the North American energy market. Our vast expertise in power generation, transmission and distribution is also a major asset for our future expansion, not to mention our great innovation capability, which is already making Hydro-Québec a leading player in the field of ground transportation electrification.
As we begin 2016, we have laid out a game plan built on four main priorities: improve customer service with a view to being one of the best within a few years; boost our productivity by banking on our employees’ flexibility and creativity; ensure our long-term growth through clean-energy exports, strategic acquisitions and innovations that create value; and communicate better, and proactively, to make our achievements and successes more widely known.
It is imperative that Hydro-Québec, through its actions, regain its place as a source of pride for all Quebecers. That is the goal I have worked toward since I joined the company last July. But it is clear that we can do better yet, and we will devote all our efforts to this endeavor in the years ahead.
The company maintained a high level of profitability in 2015, with net income of $3.1 billion. This will allow us to pay the Québecgovernment a dividend of $2.4 billion, a noteworthy contribution benefiting the entire community.
In 2015, our purchases of goods and services in Québec totaled $2.8 billion. This contribution to the province’s economy will be maintained in 2016 with activities such as the ongoing work to complete the Romaine complex and construction of the Chamouchouane—Bout‑de‑l’Île project, which on its own represents a $1.1-billion investment.
A further highlight of 2015 was the groundwork carried out on our Strategic Plan 2016–2020, to be released shortly. In undertaking this process of deliberation that is of capital importance for the time ahead, we outlined the main thrusts of our future growth, which are destined to be subjects of collective pride in the coming years.
Our employees are central to our actions and our success. Through their efforts, we have accomplished great things in the past, and we will accomplish even greater things in the future. We thank them all for their engagement and for the success they have made possible. You are our company’s pride!
We are excited to embark on a new era, one that will lead Hydro-Québec toward new horizons while it continues to play the role it has fulfilled since it was first established in 1944.
Lastly, we are grateful to the members of the Board of Directors for their highly constructive participation in the Board’s work, particularly in discussions surrounding the approval of numerous capital projects in power generation, transmission and distribution.
To meet the challenges ahead and drive the economy as it always has, the company must, more than ever, set new sights with our clean energy.