First six months of 2020

Major impact of the COVID-19 pandemic on the company’s results

For the first six months of 2020, Hydro‑Québec posted net income of $1,605 million, a $433-million decrease compared to the $2,038 million recorded a year earlier.

On the Québec market, net electricity sales decreased by $145 million compared to the first six months of 2019, primarily on account of the $271‑million negative impact of temperatures, which were milder in winter 2020 than in the previous winter.

On markets outside Québec, Hydro‑Québec Production’s net electricity exports were $647 million, a $158‑million decrease due to the impact of temperatures in the first quarter, which resulted in lower demand and lower prices on export markets, as well as to the global pandemic in the second quarter, which also led to lower prices.