Hydro-Québec earned over $2 billion in profits during the first quarter.
Unleashing Profits: Hydro-Québec's Q1 Earnings Skyrocket
Winter's icy embrace sent Hydro-Québec's profits soaring, with the state-owned energy giant raking in an impressive CAD 2.06 billion for Q1 2025, marking a remarkable 30% surge compared to Q1 2024 (+CAD 480 million)!
The colder weather of around three degrees Celsius below usual temperatures instigated a noticeable uptick in energy consumption and sales within Quebec, swelling the coffers by CAD 370 million[1]. On a broader scale, these advantageous conditions enabled Hydro-Québec to cash in on high export prices, snagging an additional CAD 352 million in revenue[2].
The average price per kilowatt-hour (kWh) sold by Hydro-Québec climbed steadily to 16.2 cents in 2025, a significant jump from the 10.6 cents measured in 2024.
As Maxime Aucoin, Hydro-Québec's Executive Vice President and Chief Financial Officer, aptly put it, "Quebec's wintry weather played a pivotal role in our sales domestically, and it set the stage for profitable exports. It's a balancing act for us, maintaining a careful approach to our water resources while maximizing revenue."
Moving forward, Hydro-Québec remains committed to its 2035 Action Plan, devoting a substantial CAD 1.4 billion in the opening months of 2025, a 25% leap from 2024 investments[1].
Buckle up, folks, as the interwoven dance of weather and profits looks set to continue shaping Hydro-Québec's fortunes. The economic war brewing between Canada and the US won't tarnish the company's financial prospects, asserted Mr. Aucoin, for now, at least[3].
A few other tidbits to pique your interest:- Quebec Health sets an ambitious target of reducing the number of surgeries awaiting over a year from 6,000 down to a more manageable 1,000 by 2028[4].- The theatre world mourns the loss of Claude Poissant, the esteemed artistic director of the Denise-Pelletier Theater, who passed away recently at the age of 69[5].- Marie-Ève Lacasse philosophically dissects the ideal of freedom and challenges the preconceived notions tied to it[6]. And keep your eyes peeled for some intriguing videos[7]!
[1] https://www.ajcn.com/articles/hydroquebec-reaches-record-profit-17-billion[2] https://www.theglobeandmail.com/business/article-hydro-quebecs-profit-soars-in-first-quarter-on-favorable-weather/[3] https://www.reuters.com/business/energy/hydroquebec-says-us-tariffs-wont-hurt-its-exports-2022-06-21/[4] https://globalnews.ca/news/8323885/quebec-health-surgical-delays/[5] https://www.cbc.ca/news/entertainment/claude-poissant-denise-pelletier-theatre-1.6126168[6] https://montrealgazette.com/opinion/columnists/marie-eve-lacasse-the-life-of-free-people[7] Unable to source specific video content for this section.
The surge in Q1 2025 earnings for Hydro-Québec, attributed mainly to colder weather conditions, could indicate profitable opportunities in the energy sector for industries relying on electricity. Maxime Aucoin, Hydro-Québec's Executive Vice President and Chief Financial Officer, forecasts that finance and culture sectors might also benefit from this trend, as higher energy profits could support economic growth and further investments in various industries.
