Third quarter 2017

Message from the President and Chief Executive Officer

Monsieur Éric Martel
Éric Martel, President and Chief Executive Officer, at the inauguration of Romaine-3 generating station.

For the three months ended September 30, 2017, Hydro‑Quebec posted net income of $288 million. For the nine months then ended, net income amounted to $2,190 million, which is comparable to the $2,196 million recorded in 2016. The first nine months of 2017 were marked by a historic volume of net exports. Thanks to the skillful execution of the company’s sales programs and the solid performance of its generating and transmission facilities, Hydro‑Quebec Production’s net exports totaled 27.1 TWh, or 2.7 TWh more than the previous record, set in 2016.

At the recent inauguration of Romaine-3 generating station, I underlined the remarkable efforts of our employees and suppliers. I pointed out that, in addition to helping us meet Québec’s energy needs for the next 100 years, this hydropower project will enable us to offer reliable, clean and renewable power to our neighbors south of the border, thus helping to reduce GHG emissions in the U.S. Northeast.

I took the opportunity to pay my respects to the workers who lost their lives on the Romaine jobsites. To prevent such tragedies, we intend to implement more proactive management of occupational health and safety. Concrete actions have already been initiated and will continue over the coming years. On that day, like all the other guests at the inauguration, I wore a button that said “Je m’engage dans le virage de la sécurité” [I’m on board with workplace safety]. It’s not just a slogan, it’s a commitment!

Earlier CEO’s Quarterly

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