Brutal winter leads to 30 per cent spike in Hydro-Quebec profits

Hydro-Quebec's profits surged 30 per cent to $1.76 billion in the first quarter of 2014 on very cold winter temperatures and higher exports.

The public utility's revenues increased $711 million to $4.62 billion.

Net electricity exports generated $233 million more earnings while peak supplies in Quebec boosted domestic profits by $176 million.

Two weeks ago, the utility announced a record $2.9 billion profit for the 2013 fiscal year.

in April, a 4.3 per cent electricity rate hike also went into effect.

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  1. Anthony posted on 05/23/2014 01:48 PM
    2.9 Billion in Profit and they still want to give us A Rate Hike. There should be a rate hike freeze on Government run business for the next few years.
  2. maria posted on 05/24/2014 05:09 AM
    All right so why did they raise our hydro rates, they knew they were going to make a profit, this is just another tax grab. All parties talk from their bu--, at the end it is the tax payer who pays.This is another disgusting move on the governments (and I mean any party)
    while the everyday tax payer has to suffer and pay and pay some more. They (the Quebec government) are all a bunch of pigs!!!
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