Hydro Quebec announces record results for 2013

Posted on May 10, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Hydro Quebec recorded a record profit of $2.9 billion in fiscal 2013, due to a combination of increased revenues from outside of Quebec and reduced costs, the Crown Corporation announced Friday.

The energy giant announced revenues of $12.9 billion, an increase of $745 million from one year prior.

Hydro Quebec attained those results thanks partially to an increase of $254 million in exports and a reduction of $122 million in electricity purchases from Rio Tinto Alcan.