Invest to finance a cleaner future

Unique business model

  • Clean and renewable energy
  • Energy storage capacity of 176.8 TWh1
  • Domestic market of more than 4 million customer accounts1
  • Proximity and access to neighboring provinces and United States export markets
  • Rates among the lowest in North America

Established presence on capital markets

  • Significant borrower in most of the major fixed income markets
  • Liquid benchmarks, such as series maturing in 2050, 2055 and 2060
  • Active player in the commercial paper market
  • Funds gathered allow Hydro-Québec to finance its development and ensure the long-term operability of its assets

Quality credit, guaranteed by the Québec government

As at December 31, 2020, long-term debt totaled $48.4 billion, including current portion and perpetual debt.

Of that amount, $46.3 billion are debentures and medium-term notes that are guaranteed unconditionally by the Québec government. After taking into account short-term borrowings and sinking funds, the guaranteed amount is $45.6 billion. Commercial paper and standby lines of credit are also guaranteed by the Québec government.

Debts other than bonds and medium-term notes totaling a discounted amount of $1,774 million are not guaranteed by the Québec government.

The Hydro‑Québec debt guaranteed by the Québec government excludes its subsidiaries and joint ventures.

Credit Ratings1

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

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

Sustainable development

Hydro-Québec has a sustainability vision that goes well beyond the environment. The Company strives to have stakeholders participate in its decisions. It is also determined to contribute to Québec’s economic vitality.

Hydro-Québec’s approach

  • Supplying clean, renewable energy to help ensure quality of life.
  • Meeting people’s electricity needs in a sustainable way.
  • Using resources wisely and preserving the quality of the environment for future generations.

View the Sustainability Report 2019 [PDF 10,5 Mo]

Financing history2

Soon after it was first established in 1944, Hydro–Québec significantly developed its generating capability to meet growing electricity demand. It embarked on an extensive building phase and reached agreements to acquire independent power distributors.

In the early 1970s, when construction in the Baie‑James region is under way, Hydro–Québec’s name is well established on the leading financial markets.

From 1979 to 1981, Hydro–Québec is the fourth-largest borrower on the U.S. public bond market. The company’s borrowing program reaches a high point in 1991, with requirements totalling $5.9 billion.

  1. As at December 31, 2020.
  2. The major debt issues described in this section do not represent the totality of Hydro-Québec's borrowings.

How can we help you?

For questions regarding Hydro-Québec’s financing, view our FAQ or contact the Investor Relations team

Contact us

Terms and conditions of disclosure

The content of this site is intended for general information purposes only and should not be construed as an offer to sell or a solicitation of offers to purchase securities.

It has not been approved by any regulatory body and is not sufficient for the purpose of deciding to purchase securities. The information, when released, was considered reliable as of that date.

However, errors or omissions may have resulted from electronic conversion, downloading or unauthorized modifications. No warranty is being made by Hydro‑Québec as to the accuracy or completeness of the information provided on this site. Users from outside the Province of Québec are sole responsible for complying with their national, provincial or state laws and regulations.

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