HydroQuebec sees profits decline to 319 million in third quarter of 2013

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Hydro-Quebec sees profits decline to $319 million in third quarter of 2013 by The Canadian Press Posted Nov 15, 2013 3:47 pm MDT MONTREAL – Hydro-Quebec’s profits from continuing operations in the third quarter of 2013 declined to $319 million from $376 million a year earlier.Net electricity exports by Hydro-Quebec Production increased slightly from the same period in 2012.The increase was offset by adjustments from the regulated activities of Hydro-Quebec TransEnergie and Hydro-Quebec Distribution.Net income for the first nine months of the year amounted to $2.1 billion, compared with $265 million in 2012.Hydro-Quebec Production’s results for the three quarters increased to $1.4 billion from $1.2 billion.The $206-million increase is mainly attributed to a $147-million increase in net electricity exports.However, electricity purchases from Rio Tinto Alcan declined by $105 million. This was offset by an increase in water rates of $39 million.Hydro-Quebec TransEnergie operations amounted to $416 million during the first nine months, down $60 million from 2012. read more

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