Dry weather forces Hydro-Québec to buy more electricity elsewhere

High voltage power lines are seen in Beauharnois, Que., on Monday, Jan. 27, 2025. The Beauharnois generating station on the St. Lawrence river consists of 36 turbines that supply power to Quebec, Ontario and New York State. (Christinne Muschi/The Canadian Press)

Hydro-Québec’s net income fell 18 per cent this spring as dry weather reduced the amount of water in its reservoirs.

The state-owned company reported net income of $221 million for the second quarter on Monday, down $48 million from $269 million in the same period last year.

Hydro-Québec’s reservoirs are at a low point after a period of low precipitation that has lasted since 2023. The state-owned company was therefore forced to “manage its reservoirs prudently” by increasing its electricity purchases.

Electricity purchases increased by $129 million compared to last year for April, May, and June. For the first six months of the year, purchases jumped by $412 million.

In the second quarter, Hydro-Québec’s sales were still up $196 million, thanks to higher rates and increased demand.

Operating expenses rose by $132 million due to investments planned in the 2035 strategic plan.

The government corporation has stepped up its investments to increase production and improve grid reliability.

At $3.3 billion for the first six months of the year, investments were up 20 per cent compared to 2024 and nearly 60 per cent compared to 2023.

- This report by The Canadian Press was first published in French on Aug. 25, 2025.