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First three quarters of 2023

Hydro‑Québec’s net income for the first three quarters of 2023 exceeds $3 billion

Hydro‑Québec posted net income of $3,050 million for the first nine months of 2023, a $554-million decrease compared to the historic $3,604 million recorded for the same period last year.

This decrease is partly due to a decline in electricity sales in markets outside Québec as a result of lower-than-normal natural water inflows and to an increase in operational expenditure attributable mainly to growth in maintenance work to improve service quality and reliability. Nonetheless, the company still achieved good results due to the implementation of its risk management strategy, which enabled it to benefit from the high prices in its export markets in 2022.

Une énergie propre à nous.
  • Quarterly Bulletin – Q3 2023 [PDF 1 MB]
  • Earlier quarterly publications

Highlights of the first nine months

  • Markets outside Québec:
    • Context of low runoff
      • Sparse snow cover in late winter
      • Lower-than-normal spring runoff
      • Modest summer precipitation in northern Québec
    • Decrease of 9.0 TWh, or 32%, in volume of sales outside Québec compared to the same period in 2022
      • Volume of 19.0 TWh for the first three quarters of 2023
    • Positive impact of the risk management strategy more than offset the decrease in prices on export markets
      • Average price obtained (including hedging effect): 10.3¢/kWh
      • Average market price: 5.2¢/kWh
  • Québec market:
    • Stable revenue from sales in Québec
Une énergie propre à nous.
  • Quarterly Bulletin – Q3 2023 [PDF 1 MB]
  • Earlier quarterly publications
  • Investments:
    • More than $3.2 billion invested in property, plant and equipment and intangible assets across Québec
    • More than two thirds of investments allocated to asset sustainment

Earlier quarterly publications

  • 2023 − Second quarter [PDF 1.08 MB]
  • 2023 − First quarter [PDF 818 kB]
  • 2022 − Third quarter [PDF 776 kB]
  • 2022 − Second quarter [PDF 919 kB]
  • 2022 − First quarter [PDF 657 kB]
  • 2021 − Third quarter [PDF 783 kB]
  • 2021 − Second quarter [PDF 821 kB]
  • 2021 − First quarter [PDF 521 kB]
  • 2020 − Quarterly Report − Third quarter [PDF 305 kB]
    • Message from the President and CEO − Third quarter 2020 [PDF 3.31 MB]
  • 2020 − Quarterly Report − Second quarter [PDF 188 kB]
    • Message from the President and CEO − Second quarter 2020 [PDF 4.14 MB]
  • 2020 − Quarterly Report − First quarter [PDF 241 kB]
    • Message from the President and CEO − First quarter 2020 [PDF 1.17 MB]
  • 2019 − Quarterly Report − Third quarter [PDF 854 kB]
    • Message from the President and CEO − Third quarter 2019 [PDF 914 kB]
  • 2019 − Quarterly Report − Second quarter [PDF 274 kB]
    • Message from the President and CEO − Second quarter 2019 [PDF 0.97 MB]
  • 2019 − Quarterly Report − First quarter [PDF 154 kB]
    • Message from the President and CEO − First quarter 2019 [PDF 594 kB]
  • 2018 − Quarterly Report − Third quarter [PDF 320 kB]
    • Message from the President and CEO − Third quarter 2018 [PDF 366 kB]
  • 2018 − Quarterly Report − Second quarter [PDF 253 kB]
    • Message from the President and CEO − Second quarter 2018 [PDF 479 kB]
  • 2018 − Quarterly Report − First quarter [PDF 272 kB]
    • Message from the President and CEO − First quarter 2018 [PDF 972 kB]
  • 2017 − Quarterly Report − Third quarter [PDF 210 kB]
    • Message from the President and CEO − Third quarter 2017 [PDF 1.07 MB]
  • 2017 − Quarterly Report − Second quarter [PDF 182 kB]
    • Message from the President and CEO − Second quarter 2017 [PDF 2.09 MB]
  • 2017 − Quarterly Report − First quarter [PDF 173 kB]
    • Message from the President and CEO − First quarter 2017 [PDF 941 kB]
  • 2016 − Quarterly Report − Third quarter [PDF 180 kB]
    • Message from the President and CEO − Third quarter 2016 [PDF 1 MB]
  • 2016 − Quarterly Report − Second quarter [PDF 185 kB]
    • Message from the President and CEO − Second quarter 2016 [PDF 744 kB]
  • 2016 − Quarterly Report − First quarter [PDF 166 kB]
    • Message from the President and CEO − 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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