Hydro-Québec reports 30% increase in profits over 2024
Posted November 28, 2025 1:54 pm.
Last Updated November 28, 2025 2:01 pm.
Hydro-Québec reported net income of $2.83 billion for the first nine months of 2025, an increase of $641 million over the same period last year.
On Friday, the government-owned corporation presented its financial results for the first three quarters of the current year.
It attributes the increase in net income in particular to last winter’s cold temperatures, which contributed to an eight per cent increase in electricity sales in Quebec compared to the same period in 2024.
Hydro-Québec also says it had an “effective marketing strategy that maximized the value of exports.”
Sales outside Quebec declined in terms of volume, but this was offset by higher prices than in previous years. As a result, the Crown corporation saw its revenues jump 20 per cent compared to last year.
“Even though reservoirs are being managed prudently and Hydro-Québec has the resources to meet electricity demand, the situation has led to a reduction in external sales volume,” said Maxime Aucoin, executive vice president and chief financial officer in a press release.
Hydro-Québec also includes in its financial performance for the first nine months a gain of more than $250 million related to the sale of its investment in the subsidiary Innergex Renewable Energy.
–This report by La Presse Canadienne was translated by CityNews
