November 13, 2026, General news
Hydro-Québec announces net income of $2.6 billion and investments of $5.5 billion for the first nine months of 2026
- General news, November 13, 2026
Hydro-Québec announces net income of $2.6 billion and investments of $5.5 billion for the first nine months of 2026
Montréal – Hydro-Québec reported net income of $2,600 million for the first three quarters of 2026, down $230 million from a year ago. This result reflects the effects of the record low runoff conditions the company has faced since 2023, in addition to the periods of intense cold last winter. In this context, the company continued to manage its reserves in a prudent and dynamic manner, to ensure Québec's energy security.
Hydro-Québec has maintained a steady level of investment as part of its Action Plan 2035. During the first nine months of 2026, the company invested $5.5 billion primarily to increase asset sustainment in order to improve service quality.
“Since 2023, Hydro-Québec has experienced its four driest consecutive years since hydrological data began to be compiled in the 1940s. We continue to use every tool at our disposal to manage our resources with agility and prudence, in order to ensure Québec’s energy security. In particular, this means we need to limit our sales in short-term markets outside Québec and take advantage of opportunities to import at the lowest possible cost. At the same time, we continue investing to diversify our energy portfolio and allow for greater latitude to meet Québec’s growing needs.”
Maxime Aucoin
Executive Vice President and Chief Financial Officer
Financial highlights for the first nine months
- Record sales in Québec
- Increase in electricity consumption due to cold winter temperatures, contributing to a record sales volume of 135.5 TWh
- Peak demand period in Québec of more than 38,000 MW over 7 consecutive days in January, a historic high (an average of 9°C colder than climate normals)
- Sales on markets outside Québec
Average price for the first three quarters: 15¢/kWh- Commercial commissioning of the Appalaches-Maine (“NECEC”) and Hertel-New York (“CHPE”) interconnections
- Decrease in short-term sales due to low runoff
- Short-term electricity purchases
Average price for the first three quarters: 8¢/kWh- Increased purchases to ensure Québec’s needs are met during periods of intense cold and to replenish energy reserves
Hydro-Québec’s Electricity Supply Plan 2027-2041
- Meet Québec’s growing energy needs
- Publication of the Overview of Hydro-Québec’s Energy Resources, presented as part of the Electricity Supply Plan 2027–2041, which outlines how to meet Québec customers’ growing energy needs. The increase in demand is expected to rise by approximately 60 TWh by 2041.
For more information on Hydro-Québec’s results for the first three quarters of 2026, visit www.hydroquebec.com/about/publications-reports/quarterly-bulletin.