Hydro-Quebec will need to invest $155-185 billion to meet electricity demands: CEO
Hydro-Quebec President and CEO Michael Sabia defended his Action Plan 2035 before members of the Quebec legislature on Thursday.
Sabia spoke of "ambitious" objectives he says are necessary for energy transition.
"This is no time for half-measures," he said by way of introduction.
He said Hydro-Quebec's plan was based on two main pillars: the energy and economic transition; and customer service, which he felt needed to be seriously improved.
"Hydro-Quebec is first and foremost a service company. However, cards on the table, our level of service is simply not up to scratch. So what are we going to do? We're going to rebuild our service," he said.
Hydro's top boss has pledged to reduce outages by 35 per cent over the next seven to 10 years. In the event of outages, he promises to communicate better with affected customers.
Aware of "the pressure on citizens," Sabia also assured that there would be no increase in residential rates beyond 3 per cent. On the other hand, it is "highly likely" that business rates will rise more significantly, he said.
On the subject of energy efficiency, he also promised "more personal support," with "dedicated experts" and "enhanced financial offers," to encourage Quebecers to "consume electricity more efficiently."
Sabia also reiterated the importance of decarbonizing a global economy "built on fossil fuels for 200 years."
"This is not just an adjustment; it's a real break, and it won't be easy," he warned.
"The countries that build an economy that is both low-carbon and prosperous will be the big winners in this transition," he added. Quebec is already well positioned, he said, "but the rest of the world is in action, and we have to act now."
By 2035, Hydro-Quebec expects to produce an additional 8,000 to 9,000 megawatts.
Sabia wants to diversify production and isn’t ruling out building new dams. His Action Plan 2035 calls for Hydro-Quebec to invest between $155 and $185 billion over the next few years.
"With an ambitious plan will come challenges," he declared. For example, some 35,000 construction workers a year will be needed to build the new infrastructures, according to the plan's estimates.
"We announced (...) six-month short courses in construction to train 5,000 people," said Premier François Legault at a press scrum on Thursday. "We've already received over 30,000 applications. That means we'll be able to continue, and that's excellent for Quebecers."
Sabia also promoted an "innovative" approach based on the principle of "economic reconciliation" with Indigenous people, where they will be able to take "financial stakes in our projects."
The 2035 Action Plan is intended to serve as a "basis for discussion," according to Hydro's CEO, who will be holding a series of meetings over the coming months with various stakeholders, including municipalities, to "refine the proposed solutions."
This report by The Canadian Press was first published in French on Nov. 30, 2023.
CTVNews.ca Top Stories
From essential goods to common stocking stuffers, Trudeau offering Canadians temporary tax relief
Canadians will soon receive a temporary tax break on several items, along with a one-time $250 rebate, Prime Minister Justin Trudeau announced Thursday.
She thought her children just had a cough or fever. A mother shares sons' experience with walking pneumonia
A mother shares with CTVNews.ca her family's health scare as medical experts say cases of the disease and other respiratory illnesses have surged, filling up emergency departments nationwide.
Putin says Russia attacked Ukraine with a new missile that he claims the West can't stop
Russian President Vladimir Putin announced Thursday that Moscow has tested a new intermediate-range missile in a strike on Ukraine, and he warned that it could use the weapon against countries that have allowed Kyiv to use their missiles to strike Russia.
Service Canada holding back 85K passports amid Canada Post mail strike
Approximately 85,000 new passports are being held back by Service Canada, which stopped mailing them out a week before the nationwide Canada Post strike.
Taylor Swift's motorcade spotted along Toronto's Gardiner Expressway
Taylor Swift is officially back in Toronto for round two. The popstar princess's motorcade was seen driving along the Gardiner Expressway on Thursday afternoon, making its way to the downtown core ahead of night four of ‘The Eras Tour’ at the Rogers Centre.
Trump chooses Pam Bondi for attorney general pick after Gaetz withdraws
U.S. president-elect Donald Trump on Thursday named Pam Bondi, the former attorney general of Florida, to be U.S. attorney general just hours after his other choice, Matt Gaetz, withdrew his name from consideration.
Here's a list of items that will be GST/HST-free over the holidays
Canadians won’t have to pay GST on a selection of items this holiday season, the prime minister vowed on Thursday.
Manitoba RCMP issue Canada-wide warrant for Ontario semi-driver charged in deadly crash
Manitoba RCMP have issued a Canada-wide arrest warrant for the semi-driver involved in a crash that killed an eight-year-old girl and her mother.
Mother charged after infant dies in midtown Toronto: police
The mother of an infant who died after being found at an apartment building in midtown Toronto on Wednesday has been charged with failing to provide the necessaries of life.