First quarter of 2025

Financial highlights of the first three months

• Sharp rise in sales volume in Québec
  • Winter 2024–2025 recorded temperatures three degrees Celsius lower than last year, leading to higher electricity use
• Strong growth in revenues on external markets
  • Favourable weather conditions: Increase in market prices
    • Average price obtained by Hydro‑Québec: 16.2¢/kWh in 2025 compared to 10.6¢/kWh in 2024
• Increase in electricity purchases
  • Increased short‑term purchases on the markets to meet Québec’s ad hoc requirements due to cold winter temperatures
  • Higher purchase prices for export activities
• Action Plan 2035: Sustained growth in investments and financing activities
  • Increase of more than 25% in investments compared to 2024, and 60% compared to 2023
    • Investments of more than $1.4 billion in three months, mainly to ensure asset sustainment and quality service
  • Financing activities that raised $1.7 billion in the first quarter