Economy: Hydro-Quebec Reports Record Net Profit of $2.7 Billion in First Half Introduction Hydro-Quebec, the province’s largest electricity provider, recently announced its impressive financial performance for the first half of the year. The company reported a net profit of $2.7 billion, setting a new record. This achievement comes at a time when the energy sector […]
Economy: Hydro-Québec Reports Net Profit of $2.7 Billion in First Half of the Year Overview In a positive development for the provincial economy, Hydro-Québec, the state-owned electricity utility in Quebec, has announced a robust net profit of $2.7 billion during the first half of this year. This welcome surge in income can be attributed to […]
Hydro-Québec’s Profits Take a Steep Dive in the Second Quarter Overview Hydro-Québec, the state-owned electricity company, experienced a significant drop in profits during the second quarter of 2023, largely due to a decline in its export business. The company’s net profit fell by 32.9%, amounting to $456 million, compared to $680 million in the same […]
Hydro-Québec’s Profits Decline in Second Quarter due to Sharp Drop in Exports Introduction Hydro-Québec, the state-owned electricity company of Quebec, has experienced a significant decline in profits in the second quarter of 2023. The company’s net profit amounted to $456 million, a decrease of $224 million compared to the same period last year. One of […]
Canadians Challenge CRA over CERB Payments Background The Canada Emergency Response Benefit (CERB) was implemented by the Canadian government in March 2020 as a way to support Canadians who were financially impacted by the COVID-19 pandemic. The benefit provided $2,000 per month to eligible individuals who lost their source of income due to the economic […]
Interim CEO of Hydro-Québec to Receive $575,000 Salary Situation In a surprising move, the interim CEO of Hydro-Québec, Jean-Hugues Lafleur, will receive an annual base salary of $575,000. This hefty sum is in proportion to the time that Lafleur will serve as the interim president and CEO of the state-owned company, as per a government […]
Executive Compensation at Hydro-Québec Raises Questions about Fairness and Equity In a recent government decree, Jean-Hugues Lafleur, the Chief Financial Officer of Hydro-Québec, has been appointed as the interim President and CEO of the state-owned company. Under the terms of the decree, Lafleur will receive an annual base salary of $575,000 for the six weeks […]
Power Outage Hits Montreal, Leaving Nearly 200,000 Hydro-Quebec Clients in Darkness Introduction A massive power outage struck Montreal, plunging nearly 200,000 Hydro-Quebec clients into darkness. This unexpected disruption in the electricity supply has not only inconvenienced residents but also highlighted the vulnerability of the city’s power infrastructure. The incident underscores the urgent need for robust […]
Allowing Private Energy Producers to Sell Directly: A Solution for Quebec’s Growing Energy Demand The Challenge of Meeting Industrial Energy Demands In the face of a growing demand for energy from industrial projects, the Quebec government is being urged to allow private energy producers to sell directly to businesses. The Montreal Economic Institute, an economic […]
Power Outage Affects Nearly 200,000 Hydro-Quebec Clients in Montreal Introduction A widespread power outage has hit the western side of Montreal, leaving nearly 200,000 Hydro-Quebec clients without electricity. The outages, caused by an incident on a transmission line, are affecting large swaths of the city, with the West Island being the hardest hit. This comes […]