Montréal, June 15, 2016
Hydro-Québec CEO Éric Martel presents his vision for energy partnerships with Massachusetts
Éric Martel, Hydro-Québec’s CEO, was in Boston today to meet with members of the Greater Boston Chamber of Commerce and the Green Economy Caucus of the Massachusetts State Legislature, a group chaired by State Senator James Eldridge and State Representative Frank Smizik, and comprised of the Massachusetts Senators and Representatives, to discuss the advantages of Québec hydropower and the inclusive approach that Hydro-Québec is following to bring more clean energy into New England.
Clean energy, available to Massachusetts today
Québec hydropower is a proven technology offering a clean, renewable source of energy for Massachusetts. Hydro-Québec is well positioned to supply large quantities of its power to New England now, but new transmission into the region is needed.
“Massachusetts is leading the region and the U.S. in transitioning to a clean energy future”, Martel said. “That’s why it was so important for me to be in Boston today and meet with business and legislative stakeholders as they work out the details of how to meet the modern-day challenge of building a clean energy future while maintaining price stability, ensuring reliability and maximizing GHG emissions reductions.“
Low-carbon Québec hydropower can help promote the development of intermittent renewables such as wind and solar. That’s why Hydro-Québec is pursuing projects that can blend multiple renewable resources, and hydro projects that allow for the integration of a higher concentration of intermittent resources such as offshore and onshore wind and grid-scale solar.
Hydro-Québec and Eversource Energy are pursuing the Northern Pass Transmission project to bring more clean energy to New England. The Régie de l’énergie, Québec’s energy board, recently approved the project. Commissioning of this new line is planned for 2019, in time to help Massachusetts meet its 2020 carbon reduction goals.
Stable prices that will generate savings in wholesale energy costs
Mr. Martel underscored the price predictability of Québec hydropower, noting that his company’s generation costs have followed the consumer price index over the last 50 years, whereas petroleum products have increased in cost at more than twice that rate.
Stable prices over long periods of time mean savings for consumers. A study conducted by Power Advisory LLC at the request of the Massachusetts Clean Electricity Partnership estimated that clean electricity imports would produce a net benefit of US$ 171 million per year for energy customers in Massachusetts.
A long-standing electricity trading relationship that can go further
“Following the outcome of the COP21 meeting in Paris, there is a tremendous opportunity to deepen our collaboration with Massachusetts on a wide array of fronts”, said Mr. Martel. “Hydro-Québec is ready to partner on energy innovation, including the deployment of utility-scale battery storage to help firm local renewable energy, and working with our state partners to mainstream the use of electric vehicles.”
Hydro-Québec delivers reliable electric power and high-quality services. By developing hydraulic resources, we make a strong contribution to collective wealth and play a central role in the emergence of a low-carbon economy. As recognized leaders in hydropower and large transmission systems, we export clean, renewable power and commercialize our expertise and innovations on world markets.
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