Hydro-Québec securities: A wise, sustainable choice

Hydro-Québec is a major generator, transmission provider and distributor of electricity in Canada, focusing mainly on hydroelectricity. To develop, improve and maintain its facilities and reimburse maturing debts, the company issues securities which are guaranteed by the Québec government, its sole shareholder.

Key Assets1

Over 99% of power generated from renewables

Large reservoirs with a storage capacity of 178.4 TWh

Total installed capacity of 38,026 MW2

Average residential rate of 8.05¢/kWh in 20243 the lowest in North America

Return on equity 9.6%

Total assets of $99.7 billion

Average term of debt 23 years

Hydro‑Québec’s ESG performance

The environment, social and governance (ESG) performance is now presented on a dedicated portal. This portal highlights Hydro‑Québec’s initiatives in the areas of decarbonization, biodiversity and communities. It also presents the company's efforts in the area of responsible governance, demonstrating its commitment to a more sustainable and responsible tomorrow.

To learn more, consult the portal This link will redirect you to an external site.

Credit Ratings1

Rating agencies Long-term debt Commercial paper Outlook
Moody’s Aa2 P-1 Stable
S&P Global Ratings A+ A-1 N/A*
Fitch Ratings AA- F1+ Stable
Morningstar DBRS AA (low) R-1 (middle) Stable

* S&P Global Ratings does not provide an outlook for Hydro-Québec’s credit rating.

Learn more about Hydro-Québec’s credit ratings

Results and Outlook

Investments totaled $6.0 billion in 2024.

Hydro‑Québec carried out a number of fixed-rate issues on the Canadian capital market: an issue of medium-term notes maturing in 2029, totaling $0.6 billion, at an average cost of 3.96%, and bond issues maturing in 2063 and 2065, totaling $5.2 billion, at an average cost of 4.29%. Theses issues raised a total of $5.8 billion.

Net Income4

($B)

The net profit for the year 2023 is 3.3 billion Canadian dollars, and the forecast for the year 2024 is 2.7 billion Canadian dollars

Investments4

($B)

The investments amount to 4.9 billion Canadian dollars in 2023, and the forecast for 2024 is 5.8 billion Canadian dollars

Financing Activities5

($B)

The financing activities for the year 2023 is 5 billion Canadian dollars, and the forecast for the year 2024 is 5 billion Canadian dollars

View the five-year review of consolidated financial information [PDF 3.7 MB]

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  1. As at December 31, 2024.
  2. Total installed capacity includes 37,407 MW for Québec and 619 MW for the United States.
  3. On April 1, 2024 (for residential customers with monthly consumption of 1,000 kWh).
  4. Forecast data is supplied for 2025.
  5. Gross borrowings. Forecast data is supplied for 2025, 2026 and 2027.

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