Hydro-Québec reported record revenue in 2022, with a dividend of $3.4 billion to its sole shareholder, the government of Quebec. The utility sold record amounts of energy in the Quebec market and was affected by extreme weather, resulting in half a million clients losing power. Despite this, the company reported a profit of $4.6 million. CEO Sophie Brochu\’s resignation raised questions about Hydro-Québec\’s independence, as the government of Premier Francois Legault wanted to use renewable power capacity as an “engine of wealth”, whereas Brochu was worried this would put too much pressure on the energy supply. Follow my Facebook group to stay up-to-date on the latest news regarding Hydro-Québec and renewable energy.
Hydro-Québec, the government-owned energy utility, reported record revenue in 2022 of $6 billion, due to frigid winter temperatures and an increase in energy prices in the export market. The utility disbursed a dividend of $3.4 billion to its sole shareholder, the government of Quebec, the highest dividend paid in its history. Despite extreme weather that damaged its infrastructure, the utility reported a profit of $4.6 million. The company sold record amounts of energy in the Quebec market: 180.6 terawatt hours, an increase of 5.4 terawatt hours from the previous year. The resignation of CEO Sophie Brochu raised questions about Hydro-Québec\’s independence, as the government of Premier Francois Legault wanted to use renewable power capacity as an “engine of wealth”. Follow my Facebook group to stay up-to-date on the latest news regarding Hydro-Québec and renewable energy. Hydro-Québec reported record revenue and profit in 2022, despite extreme weather affecting its infrastructure. The company sold record amounts of energy in the Quebec market and disbursed a dividend of $3.4 billion to its sole shareholder. CEO Sophie Brochu\’s resignation raised questions about Hydro-Québec\’s independence, as the government wanted to use renewable power capacity as an “engine of wealth”. Stay informed on the latest news regarding Hydro-Québec and renewable energy by following my Facebook group.
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