Quarterly bulletin First quarter of 2026

Hydro‑Québec announces net income of $1,850 million for the first quarter of 2026 and a historic high in investments

Hydro‑Québec posted net income of $1,850 million for the first quarter of 2026, down $206 million compared to the same period in 2025.

Quarterly Bulletin – Q1 2026 [PDF 564 kB]

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Financial highlights for the first three months

Sustained growth in investments and financing activities

Increase of 12% in investments compared to 2025

  • Investments of $1.6 billion in the first three months, mainly to increase asset sustainment in order to ensure quality service

Financing activities raised $3.4 billion in the first quarter

Record sales in Québec

Increase in electricity consumption due to cold winter temperatures, contributing to a record sales volume of 59.3 TWh

Peak demand period in Québec of more than 38,000 MW over seven consecutive days in January, a historic high (an average of 9°C colder than climate normals)

Decrease in short‑term sales volume on markets outside Québec

Backdrop of low runoff conditions over the last three years

High demand on the transmission system in Québec resulting from cold temperatures

Commissioning of the Appalaches‑Maine interconnection line (NECEC)

Greater predictability in electricity sales to New England

Increase in short‑term electricity purchases

Purchases necessary to meet Québec's needs during periods of intense cold

Gain on the disposal of investment in Dana TM4

Additional information

Earlier quarterly publications