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.