Hydro-Quebec
 |
|
| Crown Corporation | |
| Industry | Electric utilities |
| Founded | April 14, 1944 |
| Headquarters | Hydro-Québec Building, Montreal, Quebec, Canada |
|
Area served
|
Quebec |
|
Key people
|
Éric Martel (President & CEO), Michael D. Penner (Chairman of the Board) |
| Products | Electric power generation, electric power transmission, electricity distribution |
| Revenue | 13.754 billionCAD |
| 5.596 billion CAD | |
| 3.147 billion CAD | |
| Total assets | 75.199 billion CAD |
| Owner | Government of Quebec |
|
Number of employees
|
19,794 |
| Website | www.hydroquebec.com |
Hydro-Québec is a public utility that manages the generation, transmission and distribution of electricity in Quebec. In 2011, electricity accounted for about 40% of all energy used in the province, 99% of which was generated from water.
It was formed by the Government of Quebec in 1944 from the expropriation of private firms. This was followed by massive investment in hydro-electric projects like Churchill Falls and the James Bay Project. Today, with 63 hydroelectric power stations, the combined output capacity is 36,912 megawatts. Extra power is exported from the province and Hydro-Québec supplies 10 per cent of New England's power requirements.
Hydro-Québec is a state-owned enterprise based in Montreal. In 2015, it paid CAD$2.36 billion in dividends to its sole shareholder, the Government of Québec. Its residential power rates are among the lowest in North America.
More than 40 per cent of Canada’s water resources are in Québec and Hydro-Québec is the fourth largest hydropower producer in the world.
The company logo, a stylized "Q" fashioned out of a circle and a lightning bolt, was designed by Montreal-based design agency Gagnon/Valkus in 1960.
In Quebec, advocates for the creation of a public hydroelectric utility protested against high costs, poor rural electrification, and the lack of French speakers in management positions in hydroelectricity companies. In 1944, Montreal Light, Heat & Power company was nationalised, along with its subsidiary, Beauharnois Power, and Hydro-Québec was created to manage the companies.
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Wikipedia