Higher profits, lower bills : a new electricity strategy for Hydro-Quebec

Quebec is the fourth largest producer of hydro-electricity in the world, and has among the lowest electricity rates in North America. In 2008, 89 percent of the electricity produced by Hydro-Quebec was sold in the province, and the remainder was exported. In 2009, the electric utility released its strategic plan for 2009 to 2013. Hydro-Quebec's net profits are forecast to decline by 24 percent by 2013 and electricity rates are forecast to rise by 8.5 percent. Since Hydro-Quebec has already developed all of the province's low-cost hydroelectric resources, it can no longer increase profits and lower rates by building new hydropower production stations. In order to continue to prosper, the utility will invest in energy efficiency and better coordination of its power system with Ontario's. Increased electricity exports from Hydro-Quebec will help both Ontario and the United States reduce their greenhouse gas emissions by displacing fossil power generation. 25 refs., 2 tabs., 3 figs.