Hydro-Québec reports solid financial results and a major contribution to the Québec economy

Montréal – Today, Hydro‑Québec released its Annual Report 2025, announcing solid financial performance. Specifically, net income reached $2.9 billion, up 9% from 2024, while investments in Québec totalled $7.8 billion. The company contributed $26.1 billion to Québec’s GDP, demonstrating its key role in the economy.

Against the backdrop of persistently low runoff since 2023, Hydro-Québec implemented an effective sales strategy in external markets combined with rigorous management of its energy reserves, in particular its 28 major reservoirs—true natural batteries. This enabled the company to maintain its unique storage capacity and ensure a reliable electricity supply while delivering strong financial results.

The Action Plan 2035: Compelling results

In 2025, the number of outages decreased by 6%. This improvement notably arises from a new approach targeting zones in the province where efforts will have the greatest impact on system reliability, backed by the increased integration of innovative technologies to speed up work. In this way, more than 9,000 interventions were carried out in 1,800 targeted zones, benefitting over 1 million customers.

To reach its ambitious goal of saving 21 TWh by 2035, Hydro‑Québec deployed an unprecedented energy efficiency strategy spanning 10 years and totaling $10 billion in investments. Over the next decade, this strategy is expected to generate savings equivalent to the power consumption of one in four homes. By late 2025, more than $1 billion had already been committed, putting the company ahead of its targets.

In terms of expanding its generation capacity, in 2025, Hydro-Québec continued to implement its Wind Power Development Strategy, signing two new partnership agreements representing up to 7,500 MW. Major work was also carried out at close to a dozen hydroelectric generating stations to increase capacity by 2,400 MW, surpassing the original goal of 2,000 MW.

Supporting economic reconciliation and strengthening relations with Indigenous communities remain key priorities for Hydro‑Québec. In 2025, the terms of 15 new agreements with First Nations and Inuit were agreed upon.

“In 2025, we once again demonstrated discipline and agility in coping with low runoff while ensuring reliable electricity service, along with delivering financial results that will benefit all Quebecers. Each day, our teams are fully engaged in improving service quality, helping our customers adopt energy efficiency measures, and expanding our generation capacity. These initiatives support our economy in every region and contribute to shared prosperity,” said Claudine Bouchard, President and Chief Executive Officer of Hydro-Québec.

Other financial highlights of 2025

The year 2025 was marked by record electricity sales in Québec, reaching 184.9 TWh.

The 2025 financial performance was achieved in a context characterized by colder temperatures across all markets, particularly in the first quarter. The financial results also stem from the rigorous implementation of Hydro-Québec’s sales strategy, which allowed the company to capitalize on external market conditions through timely sales and purchases, as well as from a gain on the disposal of its investment in Innergex énergie renouvelable inc.

Hydro-Québec’s contribution to the Québec government’s revenue amounted to $4.4 billion, including a $2.2-billion dividend that will be paid to the government.

For more information, see the Annual Report 2025, available at https://www.hydroquebec.com/about/publications-reports/annual-report.html.