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Third quarter 2020

Quarterly net income nearly equal to last year’s despite the pandemic

Hydro-Québec’s financial results stabilized in the third quarter with the resumption of most economic activities in Québec and in neighboring markets. The company posted net income of $203 million for the third quarter of 2020, an amount almost equal to the $205 million recorded a year earlier.

That said, the current crisis has had significant repercussions on the company’s results since the beginning of the year. Consequently, Hydro-Québec’s net income for the first three quarters is down $435 million compared to the corresponding period of 2019.

Highlights of the first nine months

  • Québec market
    • 4% decline in the province’s electricity consumption due to the public health measures
      • Baseload demand down 8% in the commercial, institutional and small industrial segment and 9% in the large industrial segment
      • 5% increase in demand from residential customers
    • Milder temperatures in winter 2020
      • 3℃ higher than in winter 2019
  • Markets outside Québec
    • Lower energy requirements and market prices on export markets due to warmer temperatures in the first quarter and the impact of the pandemic
    • Net electricity export volume: 23.3 TWh, down 3.2 TWh from the corresponding period of 2019
    • Average export price obtained: 4.3¢/kWh, compared to 4.4¢/kWh a year earlier
      • Negative impact of lower market prices mitigated by the positive impact of the company’s sales and risk management strategies
  • Increase in the allowance related to the collectibility risk
    • Up $54 million due to the fact that some accounts receivable are showing signs of deterioration as a result of the difficult economic conditions
  • Investments
    • Investments of $2.3 billion in property, plant and equipment and intangible assets during the first nine months of 2020, compared to $2.5 billion in 2019
    • Slowdown of activities on the company’s jobsites due to the pandemic, especially in the second quarter
Une énergie propre à nous.
  • Third-Quarter 2020 Report [PDF 305 kB]
  • Quarterly Newsletter [PDF 3.31 MB]
  • Earlier quarterly reports

Earlier quarterly reports

  • 2020 − Quarterly Report − Second quarter [PDF 188 kB]
    • Message from the President − Second quarter 2020 [PDF 4.14 MB]
  • 2020 − Quarterly Report − First quarter [PDF 241 kB]
    • Message from the President − First quarter 2020 [PDF 1.17 MB]
  • 2019 − Quarterly Report − Third quarter [PDF 854 kB]
    • Message from the President − Third quarter 2019 [PDF 914 kB]
  • 2019 − Quarterly Report − Second quarter [PDF 274 kB]
    • Message from the President − Second quarter 2019 [PDF 0.97 MB]
  • 2019 − Quarterly Report − First quarter [PDF 154 kB]
    • Message from the President − First quarter 2019 [PDF 594 kB]
  • 2018 − Quarterly Report − Third quarter [PDF 320 kB]
    • Message from the President − Third quarter 2018 [PDF 366 kB]
  • 2018 − Quarterly Report − Second quarter [PDF 253 kB]
    • Message from the President − Second quarter 2018 [PDF 479 kB]
  • 2018 − Quarterly Report − First quarter [PDF 272 kB]
    • Message from the President − First quarter 2018 [PDF 972 kB]
  • 2017 − Quarterly Report − Third quarter [PDF 210 kB]
    • Message from the President − Third quarter 2017 [PDF 1.07 MB]
  • 2017 − Quarterly Report − Second quarter [PDF 182 kB]
    • Message from the President − Second quarter 2017 [PDF 2.09 MB]
  • 2017 − Quarterly Report − First quarter [PDF 173 kB]
    • Message from the President − First quarter 2017 [PDF 941 kB]
  • 2016 − Quarterly Report − Third quarter [PDF 180 kB]
    • Message from the President − Third quarter 2016 [PDF 1 MB]
  • 2016 − Quarterly Report − Second quarter [PDF 185 kB]
    • Message from the President − Second quarter 2016 [PDF 744 kB]
  • 2016 − Quarterly Report − First quarter [PDF 166 kB]
    • Message from the President − First quarter 2016 [PDF 941 kB]
  • 2015 − Quarterly Report − Third quarter [PDF 343 kB]
  • 2015 − Quarterly Report − Second quarter [PDF 310 kB]
  • 2015 − Quarterly Report − First quarter [PDF 282 kB]
  • 2014 − Quarterly Report − Third quarter [PDF 149 kB]
  • 2014 − Quarterly Report − Second quarter [PDF 153 kB]
  • 2014 − Quarterly Report − First quarter [PDF 143 kB]
  • 2013 − Quarterly Report − Third quarter [PDF 153 kB]
  • 2013 − Quarterly Report − Second quarter [PDF 401 kB]
  • 2013 − Quarterly Report − First quarter [PDF 628 kB]

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