For the first quarter of 2003, Hydro-Québec's consolidated net income rose to $1,004 million, up from $690 million for the same period in 2002. This increase is largely driven by two factors. First, the volume of domestic sales was higher, due to economic activity and colder temperatures in Québec. Second, although greater domestic sales resulted in a lower volume of sales on external markets, this decrease was partially offset by higher prices on those markets.

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Quarterly Report - First Quarter 2003 [PDF—241 Kb]