Hydro-Quebec's net income down $861 million for first nine months
Hydro Quebec file photo. (Daniel J. Rowe/CTV News)
Hydro-Quebec has reported lower net income for the first three quarters of the year due to a cycle of low runoff, which is reducing exports.
Net income totalled nearly $2.2 billion for the first nine months, down $861 million on the same period last year.
According to the utility company, the result is in line with its forecasts.
Hydro-Quebec, which unveiled its third-quarter financial results on Tuesday, once again pointed to low water levels in 2023 and 2024 to explain the drop in its profits.
The low level of water in the reservoirs requires the company to adopt prudent management of energy stocks, which has an impact on sales outside Quebec, as well as financial performance, the organization explained.
“Our strategy of prudent management of energy stocks is the right one in a context of below-normal rainfall. The cycle of low runoff, which has no impact on Quebec's energy supply, therefore continues to result in a decline in our electricity sales in external markets,” said executive vice-president of strategy and finance Maxime Aucoin in a news release.
Exports were down $777 million for the first nine months of the year compared with 2023.
-- This report by The Canadian Press was first published in French on Nov. 19, 2024.
Shopping Trends
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
CTVNews.ca Top Stories
Police find bag carried by gunman who killed UnitedHealthcare's CEO, say he likely fled NYC on bus
Investigators found a backpack in Central Park that was carried by the shooter, police said Friday, following a massive sweep to find it in a vast area with lakes and ponds, meadows, playgrounds and a densely wooded section called 'The Ramble.'
A police photographer recounts the harrowing day of the Polytechnique massacre
Montreal crime scene photographer Harold Rosenberg witnessed a lot of horror over his 30 years on the job, though nothing of the magnitude of what he captured with his lens at the Polytechnique on Dec. 6, 1989. He described the day of the Montreal massacre to CTV Quebec Bureau Chief Genevieve Beauchemin.
Quebec premier wants to ban praying in public
Premier François Legault took advantage of the last day of the parliamentary session on Friday to announce to 'Islamists' that he will 'fight' for Quebec values and possibly use the notwithstanding clause to ban prayer in public places such as parks.
Northern Ontario man sentenced for killing his dog
WARNING: This article contains graphic details of animal abuse which may be upsetting to some readers. A 40-year-old northern Ontario man is avoiding prison after pleading guilty to killing his dog earlier this year.
'Home Alone' house up for sale for US$3.8 million in Chicago suburb – but not the one you're thinking of
Social media sleuths noticed that the house next door to the iconic 'Home Alone' house in Winnetka is now up for sale.
Purolator, UPS pause shipments from couriers amid Canada Post strike
Purolator and UPS have paused shipments from some courier companies as they try to work through a deluge of deliveries brought on by the Canada Post strike.
NDP's Singh forces debate on $250 cheques for more Canadians; Conservatives cut it short
With the fate of the federal government's promised $250 cheques for 18.7 million workers hanging in the balance, the NDP forced a debate Friday on a motion pushing for the prime minister to expand eligibility. The conversation was cut short, though, by Conservative MPs' interventions.
Sask. father who kept daughter from mom to prevent COVID-19 vaccine free from additional prison time
Michael Gordon Jackson, the Saskatchewan father who withheld his then seven-year-old daughter from her mom for nearly 100 days to prevent the girl from getting a COVID-19 vaccine, was handed a 12-month prison sentence and 200 days probation on Friday, but credited with time served.
Did daily cannabis use go up after Canada legalized it?
Health Canada says daily cannabis use has remained stable since it was legalized in 2018.
Toronto
-
Charges stayed for 5 of 8 accused in shootout outside Toronto music studio
Charges have been stayed against five of the eight people accused in a shootout near a Toronto recording studio last month.
-
Woman facing 96 animal welfare charges in connection with unlicensed kennel in Hamilton
A woman is facing 96 animal welfare charges in connection with an unlicensed kennel in Hamilton, where two pet owners claimed their dogs died while in her care.
-
Man taken to hospital after shooting in East York
A man has been hospitalized after being shot in East York Friday night.
Ottawa
-
Another blast of snow coming to Ottawa this weekend
It’s cold this Friday in Ottawa, as it feels like minus 17 in the morning and minus 10 in the afternoon with windchill.
-
OC Transpo to open Trillium Line in three stages starting Jan. 6
OC Transpo general manager Renee Amilcar announced the Lines 2 and 4 will open in three phases, starting with five-day service Monday to Friday beginning Jan. 6.
-
'The Gingerbread Man' in Manotick reopens 2 years after devastating fire
A popular store in Manotick has re-opened after a devastating fire closed the business down two years ago.
Atlantic
-
Maritime weekend weather: Cold start and snowy finish
Colder temperatures lie ahead for the weekend in the Maritimes with another swipe of snow and rain expected Sunday.
-
Sister of man found dead in Kentville, N.S., speaks out
The sister of a 52-year-old man found dead in a tent in Kentville, N.S., on Wednesday is speaking out on her loss.
-
WATCH LIVE
WATCH LIVE 61st annual Christmas Daddies Telethon airs Saturday on CTV
A beloved yearly tradition, the Christmas Daddies Telethon airs from 11 a.m. to 6 p.m. on Saturday, Dec. 7, on CTV.
N.L.
-
'Kids are scared': Random attacks have residents of small-city N.L. shaken
Mount Pearl, near St. John's, has been the scene for three random attacks in November. Police have arrested and charged seven youth.
-
'They're sitting ducks:' More women with disabilities unhoused due to abuse, violence
New data show women with disabilities are more likely to be forced into homelessness because of violence or abuse.
-
GivingTuesday: Food banks need help, but charity won't end hunger, advocates say
It's GivingTuesday, and some directors of food banks and anti-poverty groups say the day underlines a conundrum for their organizations.
Northern Ontario
-
Northern Ontario man sentenced for killing his dog
WARNING: This article contains graphic details of animal abuse which may be upsetting to some readers. A 40-year-old northern Ontario man is avoiding prison after pleading guilty to killing his dog earlier this year.
-
How the combination of diapers and splash pads led to 10K illnesses
New research is raising concerns about the safety of splash pads, which can be ground zero for germs and greatly increase the risk of spreading disease.
-
Purolator, UPS pause shipments from couriers amid Canada Post strike
Purolator and UPS have paused shipments from some courier companies as they try to work through a deluge of deliveries brought on by the Canada Post strike.
London
-
SIU: driver that fled OPP traffic stop in Arva fatally injured
The SIU says OPP tried to stop a vehicle for a traffic infraction in Arva on Saturday night. Investigators say the vehicle sped away, then crashed into another vehicle.
-
Although the snow is tapering off, some roads are still closed or not cleaned yet
The snow that has been battering southwestern Ontario is expected to begin to let up – however, we’re not out of the woods just yet.
-
Pedestrian struck by impaired driver in London's west end
A motor vehicle collision in the west end of London has led to impaired driving charges for a 59-year-old man.
Kitchener
-
Threat that caused school lockdowns in Guelph came from the United States
Guelph Police Service is releasing more information about a call that caused two schools to go into lockdown and a third to implement hold-and-secure measures earlier this week.
-
University of Waterloo harnessing the power of alpaca poop
The University of Waterloo is trying to create an unusual type of compost.
-
Legal experts concerned about promised encampment legislation
Legal experts are raising concerns about human rights violations as the provincial government promises more powers to deal with growing encampments across the province.
Windsor
-
Suspects sought after two hardware store break-ins
Essex County OPP are investigating two overnight break-ins at hardware stores.
-
Homeless encampment returns to the chagrin of residents
Ashley Harrington's problem was solved for a short time, but then a homeless encampment returned behind her property.
-
Annual Holiday Toy and Collectors show raising funds for Adopt-A-Vet: 'We've got to give back'
The holiday season is a time for joy, but for many Canadian veterans who are alone, it can be increasingly sad.
Barrie
-
Driver charged after passing snow plow in front of oncoming OPP vehicle
A driver was pulled over and charged after passing a snow plow in front of an oncoming OPP vehicle.
-
Multi-vehicle crash on Highway 400 snarled traffic
A three-vehicle crash on Highway 400 snarled Friday afternoon traffic.
-
Man arrested after 16-hour standoff with Barrie police seeks to be released from custody
The 43-year-old man taken to hospital in distress following a 16-hour armed standoff with Barrie police last month is seeking bail.
Vancouver
-
T-minus-zero in Vancouver as Taylor Swift fans converge for final Eras Tour shows
In glittering outfits and conducting singalongs under light rain, Taylor Swift fans are pouring into BC Place stadium in Vancouver for the first of three shows to close out the superstar's marathon Eras Tour.
-
Taylor Swift photographer holds Vancouver exhibition
A photographer who has taken thousands of photos of Taylor Swift during her many concerts is showcasing her best work in Vancouver on Saturday.
-
Four-year-old superhero inspires smiles at B.C. long-term care home
While he’s not faster than a speeding bullet, nor more powerful than a locomotive, this four-year-old is proving to be a superhero.
Vancouver Island
-
B.C. ombudsman to investigate delay in sending social assistance cheques amid post strike
Thousands of social assistance cheques have not been distributed in British Columbia because of the Canada Post strike, prompting an investigation by provincial ombudsperson Jay Chalke.
-
T-minus-zero in Vancouver as Taylor Swift fans converge for final Eras Tour shows
In glittering outfits and conducting singalongs under light rain, Taylor Swift fans are pouring into BC Place stadium in Vancouver for the first of three shows to close out the superstar's marathon Eras Tour.
-
Four-year-old superhero inspires smiles at B.C. long-term care home
While he’s not faster than a speeding bullet, nor more powerful than a locomotive, this four-year-old is proving to be a superhero.
Winnipeg
-
Cops and taxes could be highlights of the next Winnipeg budget
Higher property tax hikes and more cops could be coming in next week's city budget.
-
Manitoba premier hints at change of location for supervised drug consumption site
The Manitoba government signalled Friday it is open to changing the location of a proposed supervised drug consumption site that had been revealed two days earlier and met with criticism.
-
'A well-loved piece': Historic carousel display from Hudson’s Bay Company store lands at Winnipeg shop
When a carousel setup from the Hudson’s Bay Company became available during an auction, a Winnipeg business owner had to have it.
Calgary
-
Calgarians panicked as Canada Post strike enters fourth week
The impacts of the Canada Post strike are ramping up as other shippers pause their pick-ups to clear growing backlogs.
-
Calgary company steps up to help grieving family with free furnace after fatal carbon monoxide poisoning
A Calgary furnace company stepped up big time Friday to help a Calgary family grieving the loss of a loved one.
-
Calgary's Seraphina Ellen takes Taylor Swift tribute to Vancouver to mark Eras Tour arrival
Seraphina Ellen, a third-year finance student at the University of Calgary, received attention online for performing Taylor Swift covers at university open mics.
Edmonton
-
Security guard killed at Edmonton apartment building
Homicide detectives are investigating the death of a security guard in central Edmonton on Friday morning.
-
'Focus on bad guys': Albertans react to expansion of federal gun ban
A local gun store owner says the new federal gun ban has left the industry shell-shocked.
-
Markets, spirit of giving and hockey: What a weekend in Edmonton
It's the first weekend in December and that means there will be plenty of holiday events for all to enjoy.
Regina
-
Bernadette McIntyre named Saskatchewan's 24th Lieutenant Governor
Saskatchewan’s 24th Lieutenant Governor will be Bernadette McIntyre after being appointed to the position by Prime Minister Justin Trudeau on Friday.
-
Roses handed out in commemoration of polytechnic massacre
Members of the YWCA handed out roses at the University of Regina to bring awareness to violence against women.
-
Sask. father who kept daughter from mom to prevent COVID-19 vaccine free from additional prison time
Michael Gordon Jackson, the Saskatchewan father who withheld his then seven-year-old daughter from her mom for nearly 100 days to prevent the girl from getting a COVID-19 vaccine, was handed a 12-month prison sentence and 200 days probation on Friday, but credited with time served.
Saskatoon
-
'You're not alone': Saskatoon woman turns the page on years of domestic violence
For one Saskatoon woman, Dec. 6 was not just the national day of action on violence against women — it was the day her abusive ex-husband was sentenced for his years of physical abuse against her.
-
Sask. man involved in Megan Gallagher's murder sentenced to life in prison
Robert 'Bobby' Thomas will spend life behind bars, ineligible for parole for 18 years, for his role in Megan Gallagher's murder.
-
Sask. special support classrooms mean segregation for neurodiverse students, critics say
The Saskatchewan government is set to expand a pilot program designed to minimize disruptive behaviours in school classrooms, but some are concerned that it will segregate children with disabilities from and harm their development.
