Hydro-Québec announces net income of $2,020 million and $3.4 billion in investments for the first semester of 2026

MONTRÉAL, Sept. 4, 2026 /CNW/ -- Hydro-Québec reported net income of $2,020 million for the first semester of 2026, down $257 million compared to the same period last year. The company has maintained prudent and dynamic management of energy stocks to ensure Québec's energy security, in a context since 2023 of one of the lowest runoff cycles on record, combined with periods of intense cold during the winter.

Hydro-Québec continued its investments as part of its Action Plan 2035. In this regard, an amount of $3.4 billion was invested over the first six months of 2026, mainly to increase asset sustainment in order to ensure quality service.

"In a context of low runoff, we have continued work to replenishing our energy reserves, which led us to reduce short-term sales in markets outside Québec.  In addition, we have maintained a sustained level of investment in order to continue our asset sustainment activities and develop our generating capacity, while supporting measures that promote more efficient electricity use."

Maxime Aucoin, Executive Vice President and Chief Financial Officer

Financial highlights of the first semester 

• Record sales in Québec
  • Increase in electricity consumption due to cold winter temperatures, contributing to a record sales volume of 98.8 TWh
  • Peak demand period in Québec of more than 38,000 MW over seven consecutive days in January, a historic high (an average of 9°C colder than climate normals)
• Sales on markets outside Québec
  Average price for the semester: 13¢/kWh
  • Decrease in short-term sales given the context of low runoff in addition to high demand on the transmission system in Québec during the harsh winter
  • Commissioning of the Appalaches–Maine interconnection line (NECEC)
    • Greater predictability in electricity sales
• Short-term electricity purchases
  Average price for the semester: 9¢/kWh
  
  • Increase in purchases in order to meet Québec's needs during periods of intense cold, and to restore energy reserves

Hydro-Québec's Action Plan: First semester highlights

• Conclusion of two major reconciliation agreements 
  • Signing of reconciliation and collaboration agreements with the Innu Takuaikan Uashat mak Mani-utenam Council as well as with the Innu First Nation of Nutashkuan
• Democratize access to heat pumps
  • Launch of a program that provides a heat pump at no cost to 20,000 modest-income households
  • Bonus financing offered to owners of eligible buildings in order to facilitate heat pump installation to help 120,000 rental households
• Preparing the workers of tomorrow
  • Graduation of 45 students: the first cohort in line work from the vocational training centre (CFP) in Baie-James -- an essential trade for developing Québec's large energy projects
• Improve service quality
  • Continuation of work on the distribution system to improve service quality throughout Québec

For more information on Hydro-Québec's results for the first semester of 2026, visit
https://www.hydroquebec.com/about/publications-reports/quarterly-bulletin.html.  

SOURCE Hydro-Québec

Information: Hydro-Québec, [email protected], 514 289-5005