Latest news with #ActionPlan2035
Cision Canada
02-07-2025
- Business
- Cision Canada
Claudine Bouchard appointed President and Chief Executive Officer of Hydro-Québec Français
MONTRÉAL, July 2, 2025 /CNW/ - It is with great pleasure that Hydro-Québec's Board of Directors confirms the appointment of Claudine Bouchard as President and Chief Executive Officer. Executive Vice President and Chief Operating and Infrastructure Officer since September 2023, Claudine Bouchard has been with Hydro-Québec for over 25 years, including five as a member of senior management. A visionary and strategic leader, Ms. Bouchard has been leading the modernization and development of our energy system and is one of the architects of the Action Plan 2035. A seasoned manager who is close to her teams, Claudine Bouchard has a results-driven approach. She has led major optimization and transformation initiatives, including a plan to improve service quality that reduced outages by 50% in 2024. Today, she oversees the management of $100 billion in assets, including 88 hydropower generating stations and 264,000 km of power lines, as well as the construction of all new infrastructures. She is also playing a major role in the agreement with Newfoundland and Labrador. This appointment is the result of a rigorous recruitment process carried out by Hydro-Québec's Board of Directors in collaboration with the Québec government. Quotes "Hydro-Québec will play a central role in Québec's economic future, with its $200 billion infrastructure plan that we continue to move forward with. Wind power projects are being developed in the regions, and we are finalizing the historic agreement with Newfoundland and Labrador. We need a strong leader capable of delivering results. Claudine Bouchard knows the company inside out. She has clearly demonstrated that she knows how to get things done, bring teams together and lead concrete transformations. I am convinced she has what it takes to lead Hydro-Québec in this new phase of its development." François Legault, Premier of Québec "Ms. Bouchard's career at Hydro-Québec has been truly exceptional. Few people know more about Hydro-Québec than its new President and CEO. I'm delighted that Ms. Bouchard, who is both a visionary and a pragmatist, is taking the helm of this great institution at such a key moment in its history. Together, we will continue to implement our ambitious action plan, which will enable Hydro-Québec to spearhead the energy transition, enhance and diversify energy generation, and create major economic spinoffs for Québec. Together, we'll make Québec greener and more prosperous." Christine Fréchette, Minister of Economy, Innovation and Energy and Minister Responsible for Regional Economic Development "We are delighted that Claudine Bouchard has agreed to lead Hydro-Québec as CEO at a pivotal moment in our history. The top priority over the next few years is the implementation of the Action Plan and the Churchill River hydroelectric development. Thanks to her leadership and experience, Claudine is the ideal person to successfully pilot these major projects. She masters the technical complexity of operations and embodies the social mission of our great public institution. Her proven leadership, strategic vision and commitment to the values of excellence and responsibility will be key to driving our growth in a rapidly evolving energy environment. Very early on in the process, it became clear that Ms. Bouchard was the ideal person to guide us through this new chapter. Manon Brouillette, Chair of the Board of Hydro-Québec "I am honoured by the mandate entrusted to me. It's a great privilege to lead this company, which has so profoundly marked Québec's history, and which will play a key role in its development for decades to come. I am deeply committed to the vision behind our plan. Together with our teams, I will dedicate myself to fully implementing it for the benefit of our customers and all Quebecers." Ms. Bouchard will officially take office on Saturday, July 5, 2025.
Cision Canada
06-06-2025
- Business
- Cision Canada
Net income and investments increased more than 25% in the first quarter of 2025 Français
MONTRÉAL, June 6, 2025 /CNW/ - Hydro-Québec reported net income of $2,056 million for the first quarter of 2025, up $480 million compared to the same period in 2024. This is mainly due to favourable weather conditions in all of its markets. In addition, Hydro-Québec continues to invest in the rollout of the Action Plan 2035. An amount of $1.4 billion was invested in the first three months of 2025, an increase of more than 25% compared to last year. These investments are aimed specifically at improving the quality of service offered to customers. "The solid financial performance in the first quarter of 2025 is mainly due to a colder winter than last year," said Maxime Aucoin, Executive Vice President and Chief Financial Officer. "In Québec, winter temperatures greatly contributed to an increase in sales, while on external markets, they allowed us to benefit from high export prices. To ensure the best possible use of our water resources, we continue to take a cautious approach to managing our energy reserves." Financial highlights for the first three months Hydro-Québec's plan: Milestones for early 2025 Positive progress in negotiations on an agreement with Newfoundland and Labrador Launch of the most ambitious energy efficiency pathway in Hydro-Québec's history Investments of $10 billion by 2035 Smart thermostats at $0 for residential customers Signing of several new agreements Partnership announced for wind power development in the Nutinamu-Chauvin area (Saguenay–Lac-Saint-Jean) for a project of up to 1,000 MW of capacity by 2035 Collaborative agreement signed with Makivvik Corporation to promote economic development in Nunavik First electricity supply contracts signed for two wind power projects in Quaqtaq and Puvirnituq (with Tarquti Energy) Unveiling of a scalable approach to solar development Goal of developing 3,000 MW of solar power by 2035 First call for tenders for solar farms (300 MW) announced in Hydro-Québec's history For more information on Hydro-Québec's results for the first quarter of 2025, visit .
Yahoo
06-06-2025
- Business
- Yahoo
Net income and investments increased more than 25% in the first quarter of 2025
MONTRÉAL, June 6, 2025 /CNW/ - Hydro-Québec reported net income of $2,056 million for the first quarter of 2025, up $480 million compared to the same period in 2024. This is mainly due to favourable weather conditions in all of its markets. In addition, Hydro-Québec continues to invest in the rollout of the Action Plan 2035. An amount of $1.4 billion was invested in the first three months of 2025, an increase of more than 25% compared to last year. These investments are aimed specifically at improving the quality of service offered to customers. "The solid financial performance in the first quarter of 2025 is mainly due to a colder winter than last year," said Maxime Aucoin, Executive Vice President and Chief Financial Officer. "In Québec, winter temperatures greatly contributed to an increase in sales, while on external markets, they allowed us to benefit from high export prices. To ensure the best possible use of our water resources, we continue to take a cautious approach to managing our energy reserves." Financial highlights for the first three months Sharp rise in sales volume in Québec Winter 2024–2025 recorded temperatures three degrees Celsius lower than last year, leading to higher electricity use Strong growth in revenues on external markets Favourable weather conditions: Increase in market prices Average price obtained by Hydro-Québec: 16.2¢/kWh in 2025 compared to 10.6¢/kWh in 2024 Increase in electricity purchases Increased short-term purchases on the markets to meet Québec's ad hoc requirements due to cold winter temperatures Higher purchase prices for export activities Action Plan 2035: Sustained growth in investments and financing activities Increase of more than 25% in investments compared to 2024, and 60% compared to 2023 Investments of more than $1.4 billion in three months, mainly to ensure asset sustainment and quality service Financing activities that raised $1.7 billion in the first quarter Hydro-Québec's plan: Milestones for early 2025 Positive progress in negotiations on an agreement with Newfoundland and Labrador Launch of the most ambitious energy efficiency pathway in Hydro-Québec's history Investments of $10 billion by 2035 Smart thermostats at $0 for residential customers Signing of several new agreements Partnership announced for wind power development in the Nutinamu-Chauvin area (Saguenay–Lac-Saint-Jean) for a project of up to 1,000 MW of capacity by 2035 Collaborative agreement signed with Makivvik Corporation to promote economic development in Nunavik First electricity supply contracts signed for two wind power projects in Quaqtaq and Puvirnituq (with Tarquti Energy) Unveiling of a scalable approach to solar development Goal of developing 3,000 MW of solar power by 2035 First call for tenders for solar farms (300 MW) announced in Hydro-Québec's history For more information on Hydro-Québec's results for the first quarter of 2025, visit SOURCE Hydro-Québec View original content:
