Hydro Quebec made $3.38B profits in 2014 but still asking for 3.9% hike

[tay]

Cold winter weather helped Hydro-Québec's profits surge by 15 per cent to $3.38 billion in 2014, the utility said Thursday.
Overall electricity sales grew 4.55 per cent to $13.1 billion while exports increased 30 per cent to $814 million.


The stronger results prompted a 15 per cent boost in the dividend paid to the Quebec government to $2.53 billion.


In addition to impact of colder temperatures and higher exports, the utility benefited from a rate hike.


Hydro-Quebec's spending, mainly on development projects, decreased $400 million to $3.9 billion last year from $4.3 billion in 2013.


The provincial utility is asking that customers pay 3.9 per cent more in 2015-2016. That’s on top of a 4.3 per cent increase which went into effect last April.




Hydro-Québec's 2014 profit surges 15% due to cold weather - Montreal - CBC News

 

[petros]

Looks like they weren't stupid enough to sell a good paying Crown asset like other Provinces.

 

[captain morgan]

Looks like they weren't stupid enough to sell a good paying Crown asset like other Provinces.

Gvt monopolies rarely lose money, especially when the accounts for General Revenues are down.

 

[petros]

Especially when private keeps upping the usage charges in neighboring Provinces. It's easy to justify a modest increase even when in the black anyway.