Hydro Quebec Reports Record Profit

2002-04-01 [SolarAccess.com] Hydro-Quebec reported a record net profit on Wednesday of C$1.108 billion (US$697 million) in 2001, a 2.8 percent increase over 2000, thanks to its exports to the United States and profitable trading operations. The provincially owned utility exceeded its profit target of C$1.025 million (US$640 million) and half of the net income, or C$554 million (US$347 million), will be paid to the Quebec government as a dividend. The utility said that the rest of the profit would help finance its 2002 capital program, ensure the long-term operations of Hydro-Quebec facilities and provide customers with better services.

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